the property you own in your own name that can be transferred according to the terms of a will (or under intestate laws, if you have no valid will) is your ______ estate.

Answers

Answer 1

The property you own in your own name that can be transferred according to the terms of a will (or under intestate laws, if you have no valid will) is your whole estate.

In the absence of a will, who inherits?

Children of a person who passes away without leaving a will inherit the entire estate if there is no surviving partner. No matter how much the estate is valued, this holds true. The estate will be equally split between the children if there are two or more of them.

Therefore, The question of who receives what when a person dies intestate is decided by law, whether it be through customary law, Islamic law, English law, or the Administration of Estate Law.

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Related Questions

Person
Value of a Weekend Ski Trip

(Dollars)

Anna 150
Brian 90
Clem 75
Dave 50





Refer to Table 13-1 . Assume that the price of a weekend ski pass is $45 and that the price reflects the actual unit cost of providing a weekend of skiing. Suppose the government imposes a tax of $12 on skiing, which raises the price of a weekend ski pass to $57. How much tax revenue is collected from these four skiers?

a. $48
b. $36
c. $12
d. $0

Answers

Answer:

To calculate the tax revenue collected from the four skiers, we need to determine the number of skiers who continue to go skiing after the tax is imposed and then multiply it by the amount of tax per skier.

The skiers who will continue skiing after the tax is imposed are those who value the ski trip higher than the increased price of the ski pass.

Given the values of the skiers for the weekend ski trip, we can see that Anna ($150) and Brian ($90) will still choose to go skiing even with the increased price. Clem ($75) and Dave ($50), on the other hand, will not go skiing due to the increased price.

Therefore, the tax revenue collected will be the tax per skier multiplied by the number of skiers who continue to ski. In this case, the tax per skier is $12, and the number of skiers who continue to ski is 2 (Anna and Brian).

Tax revenue = Tax per skier * Number of skiers who continue to ski

= $12 * 2

= $24

Therefore, the correct answer is not provided among the options given. The tax revenue collected from these four skiers is $24.

Colin Powell sees leadership as the ability to solve problems.
O True
O False

Answers

Answer:

true

Explanation: Leadership is solving problems.

The balance sheet data below pertain to American Pulp and Paper for the recent year ended. In addition, sales were $60 million. For the coming year, management believes that sales will increase by 20% to a total of $72 million. The profit margin is expected to be 5%, and the dividend payout ratio is targeted at 40%. No excess capacity exists. Determine the additional funds needed (AFN) in millions of dollars for the coming year using Additional Funds Needed (AFN) Equation Method.

Answers

Answer:

$0.24 million

Explanation:

Calculation to Determine the additional funds needed (AFN) in millions of dollars for the coming year using Additional Funds Needed (AFN) Equation Method

Additional Funds Needed (AFN) =[ (14/60)(12) - (2/60)(12)]- (0.05)(72)(.6)

Additional Funds Needed (AFN) = ($2.8 - 0.4) -$2.16

Additional Funds Needed (AFN) =$0.24 million

Therefore the additional funds needed (AFN) in millions of dollars for the coming year using Additional Funds Needed (AFN) Equation Method is $0.24 milion

What is the relationship between property and financial claims

Answers

Property is something that is owned or that you have legal ownership of whereas a financial claim is an agreement between two parties that specifies the terms of the obligation or agreement.

Explanation

The relationship would likely be in terms of loans, property liens and credit. For example, purchasing a home or a car or even something as simple as a watch or article of clothing.

Bob's brother , Steve, planned to visit over Labor Day weekend , on Saturday, Sunday, and Monday . Together they planned to build a deck in Bob's backyard . Bob ordered the lumber , concrete , nails, and other supplies to be delivered on Friday . He also arranged to rent a saw for the weekend (Saturday, Sunday and Monday) at a cost of $20 per day. When he went to pick up the saw, the store had already rented it. He drove all over town trying to borrow another saw, using up a $40 tank of gas, but could only get one for Sunday, Monday, and Tuesday, at a cost of $50 per day. Because they couldn't work on Saturday without a saw, Bob had to hire Mac at a cost of $80 to work for him on Tuesday, and, of course, Bob had to take off from work on Tuesday, losing $ 160.00 in wages. Calculate the damages to which Bob is entitled . How much is he entitled to (give a specific dollar amount)? Why? Explain your answer.

Answers

Answer:

Bob is entitled to $230 in damages.

To arrive at this answer, we can add up all the costs that Bob incurred due to the saw rental issue and hiring Mac.

First, Bob had arranged to rent a saw for three days at a cost of $20 per day, so the total cost was supposed to be $60. However, since the store had already rented it out, Bob had to drive around and spend $40 on gas, which brings the total cost up to $100. Then, he had to rent a saw for three days (Sunday, Monday, and Tuesday) at a cost of $50 per day, which comes to a total of $150.

In addition to the saw issue, Bob had to hire Mac to work for him on Tuesday, at a cost of $80. Bob also lost a day of wages when he took off from work on Tuesday, which was worth $160.

Therefore, the total damages that Bob is entitled to are $100 (for the wasted saw rental and gas) + $150 (for the new saw rental) + $80 (for hiring Mac) + $160 (for lost wages) = $490. However, since Steve was planning to help Bob build the deck, and Bob hired Mac to take his place, Steve should be responsible for half of the damages. So Bob is entitled to half of $490, which is $245.

In summary, Bob is entitled to $230 ($245 - $15 for the gas he would have used if the saw was available as planned) because he incurred additional costs due to the saw rental issue and had to hire someone else to help him build the deck.

of the steps listed, which of the following is the last step in an ais? group of answer choices trial balances are prepared. the original paper source documents are filed. the transaction are posted to the general and subsidiary ledgers. financial reports are generated

Answers

An accounting information system has three steps: input, processing, and output. The basic component of these operations is data.

What comes last in the accounting process?

Making closing entries at the conclusion of the accounting period involves finishing expenditures, receipts, and temporary accounts. This entails shifting the net income to long-term accounts like retained earnings and closing down transient accounts like costs and revenue.

What are the six elements that make up an AIS?

The six primary components of an accounting information system are internal controls, data, software, procedures and instructions, people, and information technology infrastructure.

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Atom Endeavour Co. issued $17 million face amount of 12.0% bonds when market interest rates were 13.38% for bonds of similar risk and other characteristics. Required: a. How much interest will be paid annually on these bonds

Answers

Answer:

$2,040,000

Explanation:

Annual Interest calculation

Interest = Par/Face Value × Coupon Rate

             =  $17,000,000 × 12.0%

             = $2,040,000

Therefore, interest to be paid annually on these bonds is $2,040,000.

"Newport Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $200,000. The equipment will have an initial cost of $900,000 and have a 6-year life. There is no salvage value for the equipment. If the hurdle rate is 10%, what is the approximate net present value

Answers

Answer:

The options are:

a. negative $28,940 b. positive $28,940 c. zero d. positive $300,000

The correct option is A,-$28,940

Explanation:

The net present value of proposed purchase of new piece of equipment is the present of cash inflows minus the initial purchase cost of the equipment of $900,000

The inflows would be discounted using the discount rate given as 10%

The discount factor=1/(1+r)^n

r is the hurdle rate of 10%

n is the  year to which the inflow relates.

net  present value=-$900,000+$200,000/(1+10%)^1++$200,000/(1+10%)^2++$200,000/(1+10%)^3++$200,000/(1+10%)^4++$200,000/(1+10%)^5++$200,000/(1+10%)^6=

-$28,947.86

$28,940 is the closest to $28,947.86

Which type of market is the least likely to have an official currency?

A. closed economy
B. command economy
C. traditional economy
D. mixed market economy

Answers

Definitely B If you do the research

In order to outpace inflation when investing, your investments need to have a lower
rate of return than the rate of inflation.
True
False

Answers

Answer:

False

Explanation:

Inflation can dry up funds for investment because savings may decrease due to the fact that when the savings money is repaid it can be worth much less than when it was lent and that the real rate of interest may be low.

What is one way a person can use technology to automate a process that may be more efficient doing than manually

Answers

Answer:

Business process automation is the use of technology to execute recurring tasks or processes in a business where manual effort can be replaced. It is done to minimize costs, increase efficiency, and streamline processes.

Explanation:

hope this helps

describe the two types of brakes fitted on a motor vehicle

Answers

Answer:

brakes

Explanation:

because they brake

Answer: disc and drum brakes

Explanation: There are two kinds of brakes that stop your vehicle while driving: disc and drum brakes. almost all vehicles come with emergency brakes and anti-lock brakes.

For an economy, operating outside the production possibilities frontier:

Answers

For operating outside the production possibilities frontier, the economy should not be possible with the present resources & technology.

The information related to the production possibilities frontier should be considered:

It represents the possible combinations of goods that are manufactured with the available resources.If the combinations are on the PPF so it is feasible & efficient.If the combination is not on the PPF i.e. outside so it can't be feasible.If the combination is inside on the PPF so it is feasible but not efficient.

Therefore we can conclude that For operating outside the production possibilities frontier, the economy should not be possible with the present resources & technology.

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Suppose the 2017 financial statements of 3M Company report net sales of $21.7 billion. Accounts receivable (net) are $3.40 billion at the beginning of the year and $3.42 billion at the end of the year.
1. Compute 3M’s receivable turnover.
2. Compute 3M’s average collection period for accounts receivable in days.

Answers

Answer:

A.Receivable turnover 6.36

B. Average collection period 57.38

Explanation:

A. Computation of 3M Company’s receivable turnover

Using this formula

Receivable turnover= Net annual credit sale / (beginning accounts receivable+ending accounts receivable)/2

Let plug in the formula

Receivable turnover=21.7/ ((3.40 +3.42)/2)

Receivable turnover= 21.7/(6.82/2)

Receivable turnover=21.7/3.41

Receivable turnover=6.36

B. Computation of 3M Company’s average collection period for accounts receivable in days

Using this formula

Average collection period = Number of days in a year/Receivable Turnover

Let plug in the formula

Average collection period=365 /6.36

Average collection period= 57.38

Therefore Receivable turnover will be 6.36 and the Average collection period will be 57.38.

The primary reason for creating a schedule of accounts receivable is
A. to be certain the accounts in the accounts receivable ledger
match the total in the general ledger
B. to show all of the customers with open accounts over the course
of the previous year
C. to make sure that customers are invoiced the correct amount for
each purchase
D. to estimate the amount of uncollectable accounts shown in the
ledger at a given time

Answers

Answer: To be certain the accounts in the accounts receivable ledger match the total in the general ledger

Explanation:

Answer: A. to be certain the accounts in the accounts receivable ledger

match the total in the general ledger

Explanation: The primary reason for creating a schedule of accounts receivable is to reconcile the accounts receivable ledger with the general ledger, ensuring accuracy, and integrity in the financial records of the company.

Accounts Receivable Ledger: The accounts receivable ledger keeps track of all the individual customer accounts and the amounts they owe.  This ledger is usually maintained separately from the general ledger, which contains all the financial transactions of the company.

General Ledger: The general ledger provides a summary of all the financial transactions of the company, including accounts receivable.

Matching the totals: By creating a schedule of accounts receivable, you can compare the total amount of accounts receivable in the accounts receivable ledger with the total amount of accounts receivable in the general ledger.  This ensures that both ledgers reflect the same amount and helps identify any discrepancies or errors.

Identifying errors: If the totals don't match, it could indicate errors in recording transactions, such as missing or duplicate entries.  By identifying and correcting these errors, you can maintain accurate financial records and ensure the integrity of your accounts receivable information.

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* READING ASSIGMENT
Error affect control and subsidiary ledger accounts

Answers

A mistake was made in posting the sum of subsidiary books to the ledger. the Trial Balance's omission of an account balance.

Which errors can affect the balancing of trial balance?A mistake was made in posting the sum of subsidiary books to the ledger. the Trial Balance's omission of an account balance. incorrectly displaying the account balances in the Trial Balance or by using the incorrect values. erroneous account balance computation. Although it contains the exact balances needed to create a company's financial statements, the control account keeps the general ledger clear of unnecessary information. The subsidiary ledger makes it possible to keep a closer eye on the transactions that take place in the control account. Duplicating the same entry or recording a correct account to the incorrect vendor or customer are examples of accounting errors. No entry is made even though there was a transaction for the time, which is known as an error of omission.

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in the cash book, every cash receipt is______ and every cash payment is_______ ​

Answers

On the left, on the right

After reading a child's file, a trained adult asks the child to perform specific tasks. The
information gained indicates the child may have a developmental delay or disability and
could benefit from early intervention. The adult refers the family to a medical professional
for diagnosis.
Observation
Screening
Assessment
Evaluation

Answers

After reading a child's file, a trained adult asks the child to perform specific tasks and learns that the child may have a developmental disability and could benefit from early intervention and he refers the family to a medical professional for diagnosis. This is called assessment. The correct option is c.

What is a developmental disability?

Developmental disability refers to a diverse group of chronic conditions, comprising mental or physical impairments that arise before adulthood. These disabilities cause individuals living with them many difficulties in certain areas of life, especially in language, mobility, learning, self-help, and independent living.

Developmental disabilities can be detected early on and persist throughout an individual's lifespan.

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Which of the following is a wise practice for making important purchases?
A. Skim return policies and warranties
B. Trust customer claims from the manufacturer
C. Ignore professional reviews
D. Be wary of customer testimonials
SUBMIT

Answers

Based on the question above, the correct answer is D

Be wary of customer testimonials SUBMIT

Consumer testimonials

This is the reports from customers which will confirm the positivity or negativity of the product based on their experiences on the product.

Therefore, the correct answer is D Be wary of customer testimonials SUBMIT

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Answer:D

Explanation: it’s right

What are the disadvantages of centralization of authority

Answers

Answer:

abuse of authority.

not smooth functioning.

The market price of hamburgers in a college town increased recently, and the students in an economics class are debating the cause of the price increase. Some students suggest that the price increased because several burger joints in the area have recently gone out of business. Other students attribute the increase in the price of hamburgers to a recent decrease in the price of french fries.
Everyone agrees that the decrease in the price of french fries was caused by a recent decrease in the price of potatoes, which are not generally used in making hamburgers.
The first group of students thinks the increase in the price of hamburgers is due to the fact that several burger joints in the area have recently gone out of business.
On the following graph, adjust the supply and demand curves to illustrate the first group’s explanation for the increase in the price of hamburgers.
Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther.
Demand
Supply
PRICE (Dollars per hamburger)
QUANTITY (Hamburgers)
Demand


S
1

S
2


The second group of students attributes the increase in the price of hamburgers to the decrease in the price of french fries.
On the following graph, adjust the supply and demand curves to illustrate the second group's explanation for the increase in the price of hamburgers.
Demand
Supply
PRICE (Dollars per hamburger)
QUANTITY (Hamburgers)
D
1


D
2

Supply


Suppose that both of the events you have just analyzed are partly responsible for the increase in the price of hamburgers. Based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of hamburgers?

If the equilibrium quantity of hamburgers decreases, then the supply shift in the market for hamburgers must have been larger than the demand shift.
Whichever change occurred first must have been the primary cause of the change in the price of hamburgers.
If the equilibrium quantity of hamburgers decreases, then the demand shift in the market for hamburgers must have been larger than the supply shift.
If the price increase was small, then the supply shift in the market for hamburgers must have been larger than the demand shift.

Answers

Please find attached the graphs containing the requested information

The dominant cause of the increase in the price of hamburgers can be determined by the direction of change on quantity demanded: If the equilibrium quantity of hamburgers decreases, then the supply shift in the market for hamburgers must have been larger than the demand shift.

The demand curve shows the relationship between price and quantity demanded. The demand curve is negatively sloped.

The supply curve shows the relationship between price and quantity supplied. The supply curve is positively sloped.

If the increase in the price of hamburgers is as a result of burger joints closing down.

If burger joints closes down, the supply of hamburgers would decrease. The supply curve would shift to the left. As a result of the leftward shift of the supply curve, equilibrium price would rise and equilibrium quantity would decrease.

The increase in the price of hamburgers is as a result of a decrease in the price of French fries.

Hamburgers and French fries are complement goods. Complement goods are goods that are consumed together. An decrease in the price of French fries would lead to an increase in the demand for hamburgers. This would lead to a rightward shift of the demand curve while the supply curve remains unchanged. As a result, both equilibrium price and quantity would increase.

If both events are partially responsible, the supply curve would shift to the left, leading to an increase in price and a decrease in quantity and the rightward shift of the demand curve would lead to an increase in equilibrium price and quantity.

If the decrease in supply is the dominant factor, there would be a decrease in equilibrium quantity.

If the increase in demand is the dominant factor, there would be an increase in equilibrium quantity.

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The market price of hamburgers in a college town increased recently, and the students in an economics
The market price of hamburgers in a college town increased recently, and the students in an economics

The essence of successful marketing is that provide unique value in order to gain

Answers

The essence of successful marketing is that provide unique value in order to gain loyal customers.

What is marketing?

Most of the time, the seller, who is typically a manufacturer or merchant, is in charge of marketing. There may be times when tasks need to be completed by a specialized marketing firm or advertising agency. Less frequently, a trade organization or government agency will advocate for a complete economic sector, a specific place, frequently a food item, food from a particular region, or a city or area as a tourism destination. Consumers or other businesses (B2B marketing) may be the target market for a marketer's products (B2C marketing). The marketing mix, which outlines the particulars of the product and how it will be marketed, is influenced by the environment in which the product is sold, the results of market and marketing research, and the characteristics of the product's target market.

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The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing​ Company: Work in process inventory ​$0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional​ data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $ 251 comma 000 of direct labor cost and $ 350 comma 300 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No.​ 151, for which total direct labor charges were $ 6 comma 100 ​(1 comma 000 direct labor​ hours) and total direct material charges were $ 14 comma 100. 5. Cost of direct materials placed in production during January totaled $ 123 comma 200. There were no indirect material requisitions during January. 6. January 31 balance in raw materials inventory was $ 35 comma 400. 7. Finished goods inventory balance on January 31 was $ 34 comma 500. What is the predetermined manufacturing overhead​ rate?

Answers

Answer:eral ledger of Fresh Bagel Manufacturing​ Company: Work in process inventory ​$0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional​ data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The

Explanation:

ocess inventory ​$0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional​ data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The predetermined manufacturing overhead rate is based on directestion

The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing​ Company: Work in process inventory ​$0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional​ data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $ 251 comma 000 of direct labor cost and $ 350 comma 300 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No.​ 151, for which total direct labor charges were $ 6 comma 100 ​(1 comma 000 direct labor​ hours) and total direct material charges were $ 14 comma 100. 5. Cost of direct materials placed in production during January totaled $ 123 comma 200. The

After calculating, the predetermined manufacturing overhead rate is approximately 1.395.

To determine the predetermined manufacturing overhead rate, we need to use the information given:

The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year states that the direct labor cost is expected to be $251,000, and the manufacturing overhead costs are expected to be $350,300.

To find the predetermined manufacturing overhead rate:

Predetermined Manufacturing Overhead Rate = Manufacturing Overhead Costs / Direct Labor Cost

Predetermined Manufacturing Overhead Rate = $350,300 / $251,000

Predetermined Manufacturing Overhead Rate ≈ 1.395

Therefore, the predetermined manufacturing overhead rate is approximately 1.395.

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Which of the following is not a sign to clear table as a busier

Answers

A sign that is not used to clear the table as a busier is D. The guests are still eating and have not finished their meal.

When should a busier clear a table ?

A guest signaling for the check is not a sign to clear their table. The guest may still be eating, or they may be ready to leave but want to finish their drink. It is best to wait until the guest has finished eating and drinking before clearing their table.

It is also important to be aware of the guest's preferences. Some guests may prefer to keep their table clear, while others may not mind if the table is cleared while they are still eating. It is always best to ask the guest if they would like their table cleared.

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Options include:

The guest has left the table.

The guest has finished eating and is waiting for the check.

The table is dirty and cluttered.

The guests are still eating and have not finished their meal.

15. Although she hates the work, Jessica has spent most weekends and the last three summers as a short-order cook; she has an associate's degree in paralegal
studies; she loves to ride and spends every spare minute helping her uncle with his three horses. Now that she's planning to start a business, her best choice
would probably be a
O A. fast-food franchise.
O B. riding stable.
© C. restaurant.
D. legal research service.

Answers

I think answer is (b) number because she loves to ride and spend every spare minute helping her uncle with his three horses.

Let MAC1 = 100 – 10E and MAC2 = 50 – 10E. Graph each function and compute the aggregate MAC curve. Let MD = 30E, compute the socially efficient equilibrium. For the equations given above, suppose the government sets the pollution level at four units. What are the net social costs of this policy?
Suppose a technological change occurs that reduces the marginal costs of abatement for polluter 1 in the above equation to that of polluter 2. How does this affect the socially efficient level of pollution? Solve numerically and graphically.

Answers

If the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not impact the socially efficient level of pollution. The level is still determined by equating Marginal Damage with the Aggregate MAC.

To graph each function, we can plot MAC1 and MAC2 on a graph with the quantity of emissions (E) on the x-axis and the marginal abatement cost (MAC) on the y-axis.

For MAC1: MAC1 = 100 - 10E

For MAC2: MAC2 = 50 - 10E

To compute the aggregate MAC curve, we add the individual MAC curves together. So, Aggregate MAC = MAC1 + MAC2.

Aggregate MAC = (100 - 10E) + (50 - 10E) = 150 - 20E

Now, let's calculate the socially efficient equilibrium by setting the Marginal Damage (MD) equal to the Aggregate MAC.

MD = Aggregate MAC

30E = 150 - 20E

Simplifying the equation, we get:

50E = 150

E = 3

Therefore, the socially efficient equilibrium occurs when the quantity of emissions (E) is 3.

Now, let's calculate the net social costs of the policy when the government sets the pollution level at four units.

Net social costs = Aggregate MAC - MD

Net social costs = (150 - 20(4)) - (30(4))

Net social costs = 110 - 120

Net social costs = -10

The net social costs of this policy would be -10, indicating a net benefit to society.

If a technological change occurs that reduces the marginal costs of abatement for polluter 1 to that of polluter 2, it means that MAC1 will become equal to MAC2.

Setting MAC1 equal to MAC2:

100 - 10E = 50 - 10E

Simplifying the equation, we find that E can have any value, as both sides are equal.

Graphically, this change would mean that MAC1 and MAC2 become parallel lines on the graph, with the same slope and intercept. The socially efficient level of pollution would still be determined by equating MD with the aggregate MAC.

In conclusion, if the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not affect the socially efficient level of pollution. The socially efficient level is still determined by equating the Marginal Damage with the Aggregate MAC, regardless of the marginal costs of individual polluters.

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In Year 1, the investor acquired 10% ownership of investee and applied fair value method to account for the investment. In Year 2, the investor acquired another 30% ownership and applied equity method to account for the investment (40% ownership). In Year 3, the investor sold 35% ownership of the investee and started using fair value method again to account for the investment (5% ownership). Should the investor apply retrospective adjustment in Year 2 and Year 3

Answers

Answer:

b

Explanation:

True or False: Restaurants rarely adjust the amount they purchase of items

Answers

Answer:

false

Explanation:

because in a restaurant you suppose to have a monthly plan

Answer:

B .. false

Explanation:

 True or False: Restaurants rarely adjust the amount they purchase of items

how do I calculate the gain on disposal of these assets

Answers

To calculate the gain on disposal of assets, you need to use the following formula:

Gain on disposal = Proceeds from disposal - Carrying amount of the asset (i.e. Cost of the asset - Accumulated depreciation)When an asset is sold, the company receives cash which is known as the proceeds from disposal.

The carrying amount of the asset represents the historical cost of the asset less accumulated depreciation on the asset over its useful life.

Suppose a company sells a machine for $20,000. The original cost of the machine was $30,000, and its accumulated depreciation is $10,000. Then, the gain on disposal of the machine will be:Gain on disposal = $20,000 - ($30,000 - $10,000) = $20,000 - $20,000 = $0

Therefore, in this case, there is no gain or loss on the disposal of the machine.

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Illies Corporation's comparative balance sheet appears below: The company's net income (loss) for the year was $5,000 and its cash dividends were $4,000. The total dollar amount of all of the items that would be classified as uses when compiling a simplified statement of cash flows is: Select one: a. $7,000 b. $40,000 c. $29,000 d. $33,000

Answers

Answer:

d. $33,000

Explanation:

net cash provided (used in) by operating activities + net cash provided (used in) financing activities

net cash provided by operating activities

net income                                           $5,000

adjustments to net income:

depreciation expense                       $29,000

decrease in accounts receivable       $2,000

decrease in inventory                         $2,000

increase in taxes payable                   $4,000

decrease in accounts payable           -$1,000

decrease in wages payable              -$2,000

decrease in notes payable                -$3,000  

net cash flow from operating cash flows $36,000

net cash provided by financing activities

issuance of common stock                $1,000

dividends paid                                   -$4,000    

net cash flow from financing activities -$3,000

items classified as uses = $36,000 - $3,000 = $33,000

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