BUSINESS HIGH SCHOOL

Which tool helps you record your transactions?A check leaf

B checking account

C check register

Answers

Answer 1
Answer:

Answer:C check register

Explanation:

Which tool helps you record your transactions?

C check register simply defined as a tool in recording transaction activities, or account and used to track withdrawals and deposits done recently. It can be inform of a journal example is deposit bill
Answer 2
Answer:

The answer is most likely C. Check register

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An entrepreneur is investigating starting a company that provides tax advice to small companies. In order to position his company differently from the existing competitors, the entrepreneur must: a. offer tax advice at a higher quality than the best competitor. b. analyze the reach, richness, and affiliation the company must have with its customers. c. offer tax advice at a price lower than the cheapest competitor. d. provide tax advice either in a different manner or provide a different kind of tax service than competitors.

Answers

Answer: Option D

         

Explanation: The scope of providing better quality services in case of tax consultancy is quite difficult as the tax rates and rules are already set and there is little area for flexibility.

However, the manner of providing service could be changed maximizing the satisfaction of the customer or such areas of service could be covered which are not provided by the other firms.

Hence from the above we can conclude that the correct option is D.

Credit cards should be used forA. anything you want.
B. things you can't afford.
C. budgeted expenses you need to pay over time.
D. wants rather than needs

Answers

C. budgeted expenses you need to pay over time.

The rest aren't healthy practices in maintaining good credit.

David borrows $2,000 from Matthew and gives him a promissory note. Matthew is the __________.A. payee
B. payor
C. maker
D. drawer

Answers

I think the anwser is A.payee

Under the percentage of completion method, if the actual costs are ____ the estimated costs, the taxpayer must pay interest on the underpayment of prior years’ taxes.

Answers

Answer:

The correct answer is Less than the estimated costs.

Explanation:

The percentage method completed is an accounting practice used to recognize income in long-term contracts.

When long-term projects (greater than one year) are undertaken, the costs and revenues associated with it are incurred throughout its life.

This accounting method, as its name suggests, allows the company to account for part of the associated income and expenses incurred as the project phases are completed. Thus, the percentage complete method is understood as a method of recognition of recognition of income and expenses that is applied continuously without having to defer income and expenses at the end of the project.

Cave​ Hardware's forecasted sales for​ April; May;​ June; and July are $ 200,000​; $ 210,000​; $ 150,000​; and $ 240,000​; respectively. Sales are 70​% cash and 30​% credit with all accounts receivables collected in the month following the sale. Cost of goods sold is 80​% of sales and ending inventory is maintained at $ 75,000 plus 10​% of the following​ month's cost of goods sold. All inventory purchases are paid 26​% in the month of purchase and 74​% in the following month. What is the balance of accounts payable on the June 30 budgeted balance sheet at Cave​ Hardware?

Answers

Answer:

The balance of account payable for month of June would be $94,128

Explanation:

Here for taking out the amount account payable for month of June , we will need to have Purchases for the month of June and as it is told that 74% of the inventory purchased would be paid in the following month, it means that the inventory that was purchased in May , 74% of it would be paid in June , so therefore the 74% of purchases would be the account payable for month of June.

First we would have to take out purchases and for that we will use equation of -

Cost of goods sold + ending inventory - opening inventory (for June)

COST OF GOODS SOLD =

$150,000 X 80%

= $120,000

ENDING INVENTORY =

$75,000 + 10% OF COST OF GOODS SOLD OF JULY

= $75,000 + 10% X [ 80% X $240,000 ]

= $75,000 + 10% X 192,000

= $75,000 + $19,200

= $94,200

OPENING INVENTORY =

$75,000 + $120,000 X 10%

= $75,000 + $12,000

= $87,000

Now putting all these values in equations top take out purchases-

=$120,000 + $94,200 - $87,000

= $127,200

PURCHASES = $127,200

ACCOUNT PAYABLE = PURCHASES X 74%

= $127,200 X 74%

= $94,128

Your _____ is the full amount of money that you earn without anything taken out for items such as taxes and Social Security. gross pay net pay

Answers

Your gross pay is the full amount of money that you earn without anything taken out for items such as taxes and social Security.

After you deduct Gross Pay with items such as taxes and social security, then you get your net pay. 
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