The total dollar amount of taxes that Leyla needs to pay for her investment is 1,361.75.
To calculate the total dollar amount of taxes Leyla needs to pay on her investment, we need to consider the capital gains tax and the tax on dividends.
Capital Gains Tax:Leyla purchased 650 shares at $18 per share, so her initial investment cost is 650 * $18 = $11,700.
She sold the shares in December 2020 for $26 per share, so her sales proceeds are 650 * $26 = $16,900.
Her capital gain is the difference between the sales proceeds and the initial investment cost: $16,900 - $11,700 = $5,200.
The taxable capital gain is 50% of the total capital gain because only 50% of capital gains are subject to taxation in Canada. So, the taxable capital gain is 0.5 * $5,200 = $2,600.
Leyla's marginal tax rate is 40%. Therefore, the capital gains tax she owes is 40% * $2,600 = $1,040.
Dividend Tax:Leyla received a dividend of $1.50 per share on 650 shares, so her total dividend income is 650 * $1.50 = $975.
The effective tax rate is 33%, and she is not eligible for a dividend tax credit. Therefore, the dividend tax she owes is 33% * $975 = $321.75.
Total taxes owed: $1,040 (capital gains tax) + $321.75 (dividend tax) = $1,361.75.
Therefore, Leyla needs to pay a total of $1,361.75 in taxes on her investment.
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William has determined that he needs to expand parking at his bookstore, so he decides to purchase the empty lot across the street. This constitutes which site location consideration?
a. economic factors
b. type of site
c. legal considerations
d. accessibility
William's decision of purchasing an empty lot across the street is a consideration of site location. This constitutes (D) Accessibility as a site location consideration.
Accessibility is the ease of obtaining inputs or outputs from other members of the supply chain and involves location considerations.
William has determined that he needs to expand parking at his bookstore, so he decides to purchase the empty lot across the street.
This decision makes it easier for customers to park their cars and access the store.
Hence, it constitutes accessibility as a site location consideration.
The other options are:
Economic factors: This consideration looks at the cost of acquiring land, labor, and materials.
The main objective of this consideration is to minimize costs.
Type of site: This consideration looks at factors like physical features, drainage, topography, and soil type.
It is essential to have a suitable site to construct a building.
Legal considerations: This consideration involves the zoning regulations that must be followed when setting up a business. It includes building codes, occupancy permits, and zoning regulations.
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What type of product/service management did Ray do?
The product/service management that Ray do was that He had made his design department to be able to design a furniture piece.
What was Ray doing?Product service management (PSM) is known to be a kind of a marketing function that is said to be based on making better a product or service due to market changes.
Note that involves an ongoing analysis of their features so that one can be able to improve as well as modify the items that are needed.
Ray in the above is carrying out marketing information management by gathering information from customers to use so that he can set up the theater system seats. The activities is one that entail pricing and the use of the channel management function.
Therefore, The product/service management that Ray do was that He had made his design department to be able to design a furniture piece.
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Pls whoever answer this ASAP, I'LLMARK YOU BRAINLIEST... PROMISE
Enter the following transactions of Femmy in the sales day book for the month of August 2010,
Aug 1: Sold to Mila
20 bags of sugar at #40 each
12 plates at #140 each
Aug 12: Sold to Shina
12 bags of cement at #45 each
5 packets of tea at #15 each
Trade discount at 10%
Aug 27: Sold to Monisola
15 shoes at #65 each
100 packets shirts at #13 each
Trade discount at 5%
Answer:
I AM SO CONFUSED
Lansing inc. Uses a perpetual inventory system. Inventory costs are determined using the last in, first out (lifo) method. On august 2, 39 units were purchased at $19 per unit. On august 5, 24 units were purchased at $14 per unit. On august 15, 26 units were sold at $53 per unit. On august 18, 29 units were purchased at $15 per unit. The units sold on august 15 had a cost of goods sold of $. (do not input a comma or cents. )
The cost of goods sold for the units sold on August 15 using the last in, first out (LIFO) method is $1,315.
In a LIFO inventory system, the most recent purchases are assumed to be the first ones sold. Let's calculate the cost of goods sold for the units sold on August 15.
First, we need to determine the cost of the 26 units sold on August 15. Since the most recent purchase was on August 18, we need to consider the units purchased on August 18 and August 5.
On August 18, 29 units were purchased at $15 per unit, so the cost of these units is 29 * $15 = $435.
On August 5, 24 units were purchased at $14 per unit, so the cost of these units is 24 * $14 = $336.
Since the total number of units purchased (29 + 24 = 53) is greater than the units sold (26), we can calculate the cost of goods sold by considering the most recent purchases. We subtract the cost of the units purchased on August 18 and August 5 from the total cost: $435 + $336 = $771.
Therefore, the cost of goods sold for the units sold on August 15 is $771.
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Which of the following is a reason that your company might not want to increase its market share?
A.
The market saturation for your product is low.
B.
Many of your company's competitors have bad reputations.
C.
Your company has a limited capacity for producing your product.
D.
The price of your product is very competitive.
Answer:
C: Your company has a limited capacity for producing your product.
Explanation:
hope this helps!
Define opportunity cost, please!
Thank you!
Opportunity costs represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another.
Answer:
It's when you lose one opportunity due to picking something else or you lose a whole experience because of a chose you made. For example, if I decided to work at McDonald's then instead of going to school,I've lost a lot of chances because I made this one choice.
Today. Cedar Park Company paid $600 of Its accounts payable in cash. What is the effect on the accounting equation? Multiple Choice Assets, no effect abies, $600 decrease equity, $400 Increase. Assets, $600 Increase; liabilities, no effect equity, 5600 Increase Assets, 5600 decrease dates, $400 Increase; equity, $200 decrease O Assets, 5600 decrease tabletes, 5600 decrease equity, no effect. There is no effect
The correct option is: Assets, $600 decrease; liabilities, no effect; equity, $600 decrease.
A company's assets are anything of worth that it owns. Liabilities are any debts or obligations owing by the organisation to other parties. The remaining stake in the company's assets is represented by equity.
It is the difference between the company's assets and liabilities, or the owner's claim on the company's assets.
Assets = Liabilities + Equity is the accounting equation.Cedar Park Company paid $600 of its accounts payable in cash, resulting in a $600 drop in accounts payable. The accounting equation is affected by this transaction in the following way:
Assets = No effect - $600 = -$600 Liabilities = No effect Equity = No effect - $600 = -$600
Therefore, the correct option is: Assets, $600 decrease; liabilities, no effect; equity, $600 decrease.
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What is the correlation between consumer spending, discounts, rising prices, and the economy
Inflation is the correlating factor between consumer spending, discount, rising prices and the economy.
What is an inflation?An inflation means a persistent rise in general level of goods and service in a particular year.
Inflation affects consumer spending because the purchasing power of currency reducesInflation affects discount ratesInflation results to rising price of goods and servicesInflation gives the overall economy a hard timeIn conclusion, an Inflation is the correlating factor between consumer spending, discount, rising prices and the economy.
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List any THREEshopping skill that you will follow.
what is journal entry for purchase goods from ram on cash rs 4000
Answer:
Purchased a/c ........Dr. rs.4000
To, cash a/c rs.4000
which of the following pairs of variables are least likely to be useful in drawing a strategic group map? multiple choice geographic market scope and degree of vertical integration brand name reputation and distribution channel emphasis product quality and product-line breadth level of profitability and size of market share price/perceived quality and image range and the extent of buyer appeal
The correct option is D. Level of profitability and size of market share pairs of variables are LEAST likely to be useful in drawing a strategic group map.
A market is any location where two or extra events can meet to interact in an economic transaction—even the ones that don't contain prison gentleness. A marketplace transaction may also additionally comprise goods, offerings, statistics, foreign money, or any aggregate of these that bypasses one party to another.
In fashionable, the feature of a market is to gather products from scattered sources and channel them to scattered shops. From the aspect the view of the seller, sellers channel the decision for their product; from the thing of view of the consumer, they bring factors inside his gain. A marketplace is a place in which buyers and dealers can meet to facilitate the alternate or transaction of goods and offerings. different examples include unlawful markets, public sale markets, and economic markets.
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Complete Question:
Which one of the following pairs of variables is LEAST likely to be useful in drawing a strategic group map?
A. Geographic market scope and degree of vertical integration
B. Brand name reputation and distribution channel emphasis
C. Product quality and product-line breadth
D. Level of profitability and size of market share
E. Price/perceived quality and image range and the extent of buyer appeal
Gina wants to attend a college with a current tuition of $10,000 a year. She will graduate from high school in two years. Roughly how much will Gina need to save for one-year’s tuition to account for an annual rate of inflation of 2%?
$204.00
$14,00.00
$10,404.00
$20,000.00
Answer: $14,000(B)
Explanation:
Each year the tuition costs 2% more. She doesn’t start college for another two years so that makes the rate 4% more the 10,000 which is 14,000
Answer:
C
Explanation:
C : $10,404.00 is correct. I got it right on the test. B is wrong.
Cost Flow Methods The following three identical units of Item K113 are purchased during April: Item Beta Units Cost April 2 Purchase 1 $153 April 15 Purchase 155 April 20 Purchase 1 157 Total 3 $465 Average cost per unit $155 ($4653 units) Assume that one unit is sold on April 27 for $219. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) laxt-in, first-out (LIFO); and (c) weighted average cost method. Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) Weighted average cost
Using the first-in, first-out (FIFO) method, the gross profit for April is $64, and the ending inventory on April 30 is $221. Under the last-in, first-out (LIFO) method, the gross profit for April is $54, and the ending inventory on April 30 is $195. Using the weighted average cost method, the gross profit for April is $59, and the ending inventory on April 30 is $205.
To calculate the gross profit and ending inventory using different cost flow methods, we need to determine the cost of goods sold (COGS) and the value of the ending inventory. Using the first-in, first-out (FIFO) method, we assume that the first units purchased are the first ones sold. Since one unit is sold on April 27, we consider the cost of the first unit purchased on April 2, which is $153. The COGS is calculated as $153, resulting in a gross profit of $219 - $153 = $64. The ending inventory is determined by considering the remaining units from the April 15 purchase and the April 20 purchase, which totals $219. Using the last-in, first-out (LIFO) method, we assume that the last units purchased are the first ones sold. Therefore, the cost of the last unit purchased on April 20, which is $157, is used to calculate the COGS. The gross profit is $219 - $157 = $54. The ending inventory is determined by considering the remaining unit from the April 2 purchase and the April 15 purchase, which totals $195. Using the weighted average cost method, we calculate the average cost per unit by dividing the total cost of $465 by the total units of 3, resulting in $155. The COGS is determined by multiplying the average cost per unit by the number of units sold, which is $155. The gross profit is $219 - $155 = $64. The ending inventory is calculated by considering the remaining unit from the April 20 purchase, which is $205. In summary, under the FIFO method, the gross profit for April is $64, and the ending inventory is $221. Under the LIFO method, the gross profit for April is $54, and the ending inventory is $195. Using the weighted average cost method, the gross profit for April is $59, and the ending inventory is $205.
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Gloria Catering provided $1,000 of catering services and billed its client for the amount owed. Determine the general journal entry that Gloria Catering will make to record this transaction.
The general journal entry that Gloria Catering will make to record this transaction is: Debit Accounts receivable $1000; Credit Catering revenue $1000.
Journal entryAssuming Gloria Catering provided the amount of $1,000 of catering services and billed its client for the amount owed. The appropriate journal entry to record this transaction is :
Gloria Catering Journal entry
Debit Accounts receivable $1000
Credit Catering revenue $1000
(To record account receivable)
Inconclusion the general journal entry that Gloria Catering will make to record this transaction is: Debit Accounts receivable $1000; Credit Catering revenue $1000.
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A teacher who makes copies of a newspaper article to give to her students is protected under: Fair market value Trademark exemption laws Fair use exemption Copyright law
Answer:
the answer is the one with copyright laws
Explanation:
because the teacher is not staling the information but is using it to farther along kids education.
1. Which one of the following is a feature of a franchise?
a. The franchisee keeps all the profits
b. The business has unlimited liability
C. The franchisee can sell shares in the business
d. The business has limited liability
Answer: D
Explanation:
A healthcare organization with 2 hospitals, 20 clinics, and 3 urgent care centers belongs to an ACO program. They have been in the shared savings program for two years and are now eligible to move large payments to a population-based model as they have been successful in keeping costs down and have met all the CMS benchmarks set for them. What type of ACO is this
Answer:
Pioneer ACO Model
Explanation:
The Pioneer ACO Model refer to the cms innovation center where it designed to support the organization with experience or the similar arrangement that could provide more coordinated care at the lower cost Since in the given situation they are eligible and shift to the large kind of payment so that the cost can be come down also it mets the benchmarks of the CMS so here the pioneer ACO model could be considered
Why is organic manure used in soil? Explain briefly.
Explanation:
the supply plant nutrients including micronutrients they improve soil physical properties like structure of water holding capacity etc. they increase the availability of nutrients.
Do you think increasing age diversity will create new challenges for managers? What types of challenges do you expect will be most profound?
Over the past century, the average age of the workforce has continually increased as medical science continues to enhance longevity and vitality. The fastest-growing segment of the workforce is individuals over the age of 55. Recent medical research is exploring techniques that could extend human life to 100 years or more. In addition, the combination of laws prohibiting age discrimination and elimination of defined-benefit pension plans means that many individuals continue to work well past the traditional age of retirement.
Unfortunately, older workers face a variety of discriminatory attitudes in the workplace. Researchers scanned over 100 publications on age discrimination to determine what types of age stereotypes were most prevalent across studies. They found that stereotypes suggested job performance declined with age, counter to empirical evidence presented earlier in this chapter that relationships between age and core task performance are essentially nil. Stereotypes also suggest that older workers are less adaptable, less flexible, and incapable of learning new concepts. Research, on the other hand, suggests they are capable of learning and adapting to new situations when these are framed appropriately.
Organizations can take steps to limit age discrimination and ensure that employees are treated fairly regardless of age. Many of the techniques to limit age discrimination come down to fundamentally sound management practices relevant for all employees: set clear expectations for performance, deal with problems directly, communicate with workers frequently, and follow clear policies and procedures consistently. In particular, management professionals note that clarity and consistency can help ensure all employees are treated equally regardless of age.
Increasing age diversity in the workforce can present challenges for managers, including combating age stereotypes and biases, bridging the generation gap in communication and work styles, and ensuring fair opportunities for career development and succession planning.
Increasing age diversity in the workforce can indeed create new challenges for managers. Some of the challenges that may be most profound include:
1. Age Stereotypes and Bias: Older workers may face age-related stereotypes and biases, such as assumptions about declining performance, adaptability, or capability to learn new concepts. Managers need to actively combat these stereotypes and ensure fair treatment and opportunities for all employees, regardless of age.
2. Generation Gap and Communication: With age diversity comes a generation gap, which can lead to differences in communication styles, preferences, and work values.
Managers may need to bridge these gaps by fostering effective communication channels, promoting collaboration, and creating an inclusive work environment where different perspectives are valued.
3. Career Development and Succession Planning: Managers must address the unique career development needs of employees at different stages of their careers. This includes providing opportunities for growth, skill development, and succession planning that accommodates employees of all ages. It requires a proactive approach to identify and nurture talent across different age groups.
4. Accommodating Different Work Styles and Preferences: Older workers may have different work styles, preferences, and needs compared to younger employees.
Managers should be flexible in accommodating these differences, such as offering flexible work arrangements, adjusting task assignments, or providing training and support to adapt to changing technologies and work practices.
5. Knowledge Transfer and Retention: As older employees approach retirement, there is a need to capture and transfer their valuable knowledge and experience to younger employees. Managers should implement strategies for knowledge sharing, mentoring programs, and succession planning to ensure a smooth transition of expertise and prevent knowledge loss.
To address these challenges, managers should promote a culture of inclusivity, foster intergenerational collaboration, provide training opportunities, and establish fair policies and practices that recognize and appreciate the contributions of employees across all age groups.
By leveraging the strengths and experiences of a diverse workforce, organizations can gain a competitive edge and create a more inclusive and productive work environment.
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A loan of $105,487.80 is to be amortized over a 10-year term at 6% interest compounded monthly with monthly payments and a $20,000 balloon payment at the end of the term. Calculate the monthly payment.
The monthly payment is $
(Do not round until the final answer. Then round to two decimal places as needed.)
Answer:
$1049.09
Explanation:
The present value of the balloon payment is ...
$20,000/(1 +.06/12)^(12·10)) = $10,992.65
So, the effective amount of the loan is ...
$105,487.80 -10,992.65 = $94,495.15
The amortization formula gives the payment as ...
A = P(r/n)/(1 -(1 +r/n)^(-nt)) = $94,495.15(.06/12)/(1 -(1 +.06/12)^(-12·10))
= $94,495.15(.005)/0.450367 = $1049.09
The monthly payment is $1049.09.
When you put a check you received in the bank, you have immediate access to the money.
True or False.
Answer:
this is true hope this helps
Explanation:
the quality control manager at a factory records the number of equipment breakdowns each day. let the random variable yy represent the number of breakdowns in one day. the standard deviation of yy is 0.28. which of the following is the best interpretation of the standard deviation?
The best interpretation of the standard deviation is on average, the number of breakdowns per day varies from the mean by about 0.28.
The standard deviation of a statistic is a measure of how much a set of values varies or spreads out. A low standard deviation indicates that the values are typically close to the mean of the set, and a high standard deviation indicates that the values are spread over a wider range.
Standard deviation is often denoted in mathematical texts and equations using a lowercase Greek letter (sigma) for population standard deviation, or a Latin letter s for sample standard deviation. Standard deviation can be abbreviated as SD.
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What is B + T + S ?Hints are that it is a famous k-pop boy band
Answer:
bts
Explanation:
bts
please answer all of the following question
You need to form a portfolio using two risky assets Asset E(R) Sigma Asset A 12% 18% Asset B 17% 25% The correlation coefficient between Asset A and Asset B is 0.25
a) what is the weight of asset A in the minimum variance portfolio? (four decimals, no %)
b)Assume that risk-free rate is 5%, what is the weight of Asset A in the portfolio which has the highest Sharpe ratio? (four decimals, no %)
c)Use the same portfolio information as above. Assume that risk-free rate is 5% and your degree of risk-aversion is 6. Now in addition to investing these two risky assets, you can also invest in one risk-free asset. What is the weight of each asset (Asset A, Asset B, and the risk-free asset) in the optimal portfolio which gives you the highest utility?
Weight of Asset A =
Weight of Asset B =
Weight of the risk-free asset =
(four decimals, no %)
A) the weight of Asset A in the minimum variance portfolio is 0.5185 (or 51.85%).B) the weight of Asset A in the portfolio with the highest Sharpe ratio is 0.5385 (or 53.85%). C) the weight of Asset A in the optimal portfolio is 0.0078 (or 0.78%), the weight of Asset B is 0.0107 (or 1.07%), and the weight of the risk-free asset is 0.9815 (or 98.15%).
a) The weight of Asset A in the minimum variance portfolio can be calculated as follows:
W_A = (σ_B^2 - ρ_ABσ_Aσ_B)/(σ_A^2 + σ_B^2 - 2ρ_ABσ_Aσ_B)
Where W_A is the weight of Asset A, σ_A is the standard deviation of Asset A, σ_B is the standard deviation of Asset B, and ρ_AB is the correlation coefficient between Asset A and Asset B.
Plugging in the given values:
W_A = (25^2 - 0.25*18*25)/(18^2 + 25^2 - 2*0.25*18*25) = 0.5185
Therefore, the weight of Asset A in the minimum variance portfolio is 0.5185 (or 51.85%).
b) The weight of Asset A in the portfolio with the highest Sharpe ratio can be calculated as follows:
W_A = (E(R_A) - R_f)/(E(R_A) - R_f + E(R_B) - R_f)
Where W_A is the weight of Asset A, E(R_A) is the expected return of Asset A, R_f is the risk-free rate, and E(R_B) is the expected return of Asset B.
Plugging in the given values:
W_A = (0.12 - 0.05)/(0.12 - 0.05 + 0.17 - 0.05) = 0.5385
Therefore, the weight of Asset A in the portfolio with the highest Sharpe ratio is 0.5385 (or 53.85%).
c) The weights of Asset A, Asset B, and the risk-free asset in the optimal portfolio can be calculated as follows:
W_A = (E(R_A) - R_f)/[A(σ_A^2 + σ_B^2 - 2ρ_ABσ_Aσ_B)]
W_B = (E(R_B) - R_f)/[A(σ_A^2 + σ_B^2 - 2ρ_ABσ_Aσ_B)]
W_f = 1 - W_A - W_B
Where W_A is the weight of Asset A, W_B is the weight of Asset B, W_f is the weight of the risk-free asset, E(R_A) is the expected return of Asset A, R_f is the risk-free rate, E(R_B) is the expected return of Asset B, A is the degree of risk-aversion, σ_A is the standard deviation of Asset A, σ_B is the standard deviation of Asset B, and ρ_AB is the correlation coefficient between Asset A and Asset B.
Plugging in the given values:
W_A = (0.12 - 0.05)/[6(18^2 + 25^2 - 2*0.25*18*25)] = 0.0078
W_B = (0.17 - 0.05)/[6(18^2 + 25^2 - 2*0.25*18*25)] = 0.0107
W_f = 1 - 0.0078 - 0.0107 = 0.9815
Therefore, the weight of Asset A in the optimal portfolio is 0.0078 (or 0.78%), the weight of Asset B is 0.0107 (or 1.07%), and the weight of the risk-free asset is 0.9815 (or 98.15%).
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HELPPPPPPPP PALEASEEEE
when investors jump into an
investment because it's pop- ular to do
A market they are familiar with and comprehend. A strong leadership team. Diversification of investments Scalability. Financial projections that look promising. Consumer interest demonstrations A thorough marketing strategy. Transparency.
What do investors do during the market crash?Down markets provide an opportunity for investors to investigate an area that beginner investor may overlook: bond investing. Government bonds are often regarded as the safest investment, despite their unappealing appearance and typically low profits when compared to stocks and even other bonds.
Investing is a good way to put your money to work and perhaps increase your wealth. Smart investing can help your money outperform inflation and grow in value. The strength of compounding and the risk-return tradeoff contribute to investing's higher growth potential.
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What is the probability of generating a random number between 0. 25 and 0. 75?
The probability of generating a random number between 0.25 and 0.75 is equal to 0.50 (50 %).
The probability of generating a random number between 0.25 and 0.75 can be calculated by finding the difference between the two numbers and dividing it by the range of possible numbers. In this case, the difference between 0.25 and 0.75 is 0.5 and the range of possible numbers is 1 (since the numbers are between 0 and 1). Therefore, the probability is 0.5/1 or 0.5. So, the probability of generating a random number between 0.25 and 0.75 is 0.5 or 50%.
The calculation, in a more orderly fashion, is:
Probability = (0.75 - 0.25) / 1
Probability = 0.5 / 1
Probability = 0.5
Probability = 50%
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Write H if the resource is a human resource, and NH if it is a nonhuman resource. 1.Machines
2.Tools
3.Workers
4.Land
5.Water
6.Capital
7.Labor force
8.Time
9.Entrepreneur
10.Process
1.H
2.H
3.NH
4.NH
5.H
6.NH
7.H
8.NH
9.H
10.H
Make a t-account
Open the necessary ledger accounts and enter the following transactions of Honey Enterprise
Close the accounts and bring down the balance to 1 April 2022.
2022 Mar I Honey Enterprise commenced business bringing RM30,000 cash. 2 Bought goods on credit RM6,800 from Lee Sdn Bhd
2022 Mar 6 Took RM2,000 from bank for office use.
2022 Mar 11 Cash sales RM850.
2022 Mar 12 Returned goods RM680 to Lee Sdn Bhd. 15 Cash purchases RM1,200,
2022 Mar 20 Paid electricity bills RM320 by cash.
2022 Mar 23 Sold goods RM2,900 on credit to Mei Ling. 28 Paid salaries RM900 by cheque.
2022 Mar 29 Bought office furniture RM1,350 by cheque.
Answer: Here are the ledger accounts for Honey Enterprise:
FOOD;
1.how to reduced food?
2.how to reused food?
3.how to recycled food?
WATER;
1.how to reduced water?
2.how to reused water?
3.how to recycled water?
please
What is the difference between a cash flow statement and a Budget?
Answer:
See below
Explanation:
A cash flow statement is among the financial statement prepared by a company at the end of every financial period. It details the cash movements, in and out of business. The cash flow statement tells the amount of cash that a business holds at any particular time. It shows whether a company generates sufficient cash to pay debts and fund its operations.
A budget is a plan showing expected incomes and expenses for a financial period. It indicates the income an individual, firm, or country expects to receive in a period and how the income will be spent. A budget is also known a plan of expenditure.