Kasaya lost $120 in a gambling contest, he wants to sell his car at a profit so as to replace the lost cash. If he bought his car at $200, at what price should he sell it to make a profit of $120?
Q: Indiana Corporation products a single product that it sells for $9 per unit. During the first year…
A: Step 1: Breakdown of Costs1. Selling Price: Selling Price per Unit=9per unit. 2.…
Q: Hello tutor please provide correct answer general Accounting
A: Step 1: Define Inflation When a country's economy experiences inflation, it means that consumers'…
Q: Provide answer this general Accounting question
A: Step 1: Define Future ValueThe future value of an investment can be treated as a capital budgeting…
Q: On March 1, 2019, Baltimore Company's beginning work in process inventory had 9,500 units. This is…
A: Step 1: Define the given informationBeginning WIP inventory: 9,500 units, 50% complete as to…
Q: I don't need ai answer accounting questions
A: Step 1: Definition of Cash FlowCash flow refers to the net amount of cash being transferred into and…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Free Cash Flow (FCF)Free Cash Flow (FCF) measures the cash a company generates…
Q: Provide answer financial accounting
A: Step 1: Define Cash CycleCash cycle refers to the period within which the company converts the cash…
Q: Net Income?
A: Explanation of Net Income: Net income represents the total profit a company earns after deducting…
Q: what is the projected net income Accounting Solution
A: Step 1: Definition of Net Income CalculationNet income is the amount of money remaining after all…
Q: None
A: Step 1: Define Return on AssetsReturn on assets is given as the net income divided by the average…
Q: Thech pro uses the straight line method solve this accounting questions
A: Straight-Line Depreciation MethodThe straight-line method evenly allocates the cost of an asset…
Q: March 1, 2019, Baltimore Company's beginning work in process inventory had 6,000 units. This is its…
A: Step 1: Understand the DataBeginning WIP inventory: 6,000 units, 50% complete as to conversion…
Q: Don't use ai please give me answer general accounting question
A: Step 1: Definition of Average Collection PeriodThe average collection period measures the number of…
Q: Last year Kijel Company introduced a new product and sold 25,600 units of it at a price of $92 per…
A: Explanation of Sales RevenueSales revenue refers to the total income generated from selling goods or…
Q: A company produces a single product. Last year, fixed manufacturing overhead was $30,000, variable…
A: Step 1: Key InformationSelling Price per Unit: $40Variable Production Costs: $48,000Fixed…
Q: Smith manufacturing has $80,000 in assets solution general accounting question
A: Explanation: In the given case, we are required to calculate the amount of revenue using the…
Q: I won't this question general Accounting
A: Step 1: Define Entries for Notes ReceivablesNotes receivables is a written promissory note received…
Q: Which of the following statements is true on these general accounting question?
A: Step 1: Define Absorption and Variable CostingAbsorption costing allocates both fixed and variable…
Q: General accounting
A: To calculate the return on total assets (ROA), you use the following formula: ROA = (Net Income /…
Q: Please Provide correct answer
A: We use the formula:PV =FV/(1+r)^t Step 1: Identify the given valuesFV=19,000r=0.06t=4Step 2:…
Q: I need this question answer general Accounting
A: Step 1: Define Standard CostingUnder standard costing, we compare actual and standard performance.…
Q: What was the return you received over the year on these financial accounting question?
A: Step 1: Define Holding Period ReturnThe holding period return (HPR) is a percentage measure of the…
Q: General Accounting Question please answer do fast
A: Step 1: Define Gross ProfitGross profit refers to the remainder of net sales after direct costs…
Q: Verma Inc.'s total assets at the beginning of the year amount to $500,000,000, and its total assets…
A: To calculate Verma Inc.'s net income for the year, we use the Return on Assets (ROA) formula: ROA =…
Q: Hii expert please provide correct answer general Accounting
A: Explanation of Turnover: Turnover (also called asset turnover) measures how efficiently a company…
Q: Provide answer financial accounting
A: To calculate the ending capital on the statement of retained earnings, use the formula: Ending…
Q: City Honda has total equity of $560,000; sales of $2,250,000; current assets of $700,000; and total…
A: Explanation of Total Assets: Total assets represent everything of value that a company owns or…
Q: General Accounting Question please answer
A: Step 1: Define Lower of Cost or Market (LCM)The Lower of Cost or Market (LCM) principle requires…
Q: Need answer the accounting question please answer do fast and correct
A: The correct answer is A. $86,000 / $15,000. Here's the reasoning:Land-New: The value recorded for…
Q: Not use ai solution please given answer
A: Calculate the Cost of Goods Sold (COGS): Since the gross profit ratio is 40%, the cost of goods…
Q: Get correct answer general accounting questions
A: Step 1: Define Nominal AccountsThe items reported in the income statement are all nominal accounts.…
Q: Round your answer nearest $
A: Explanation of Direct Labor Rate Variance:Direct labor rate variance measures the difference between…
Q: Delta Manufacturing reports the following information for June: please answer the accounting…
A: Step 1: Define Operating Income under Absorption CostingOperating income is calculated as the…
Q: Harrison manufacturing reported a pretax book income solve this general accounting question
A: Step 1: Definition of Current Income Tax ExpenseThe current income tax expense is the tax liability…
Q: Need help with this general accounting question not use ai please don't
A: 1. Direct Materials Cost Per Unit:Standard quantity of materials per unit: 8 yardsStandard cost per…
Q: Need help with this accounting questions
A: Step 1: Definition of Indirect Cost AllocationIndirect cost allocation involves distributing…
Q: Do fast answer of this accounting questions
A: Step 1: Define Monthly Loan PaymentsA lender provides the borrower with funds and will charge…
Q: I need answers general Accounting
A: Step 1: Define Future ValueThe future value of a deposit represents its equivalent worth at a…
Q: Calculate GMROI from the following data: please solve this general accounting problem
A: Step 1: Define Gross MarginGross margin is computed by dividing the gross profit by sales. Gross…
Q: Please given answer not use chart gpt
A: Step 1: Define Markup and Profit MarginIn accounting, a product markup refers to the amount or…
Q: Pteri Manufacturing makes a single product - the Pteri. Information for 2005 appears below: Sales in…
A: Step 1: Understand Variable Costing :Under variable costing, only variable production costs are…
Q: Solve this question financial accounting
A: Step 1: Define Work-in-Process for a JobThe total work-in-process of a job is the sum of all the…
Q: Your parents will retire in 19 years. Please answer the financial accounting question
A:
Q: Kindly help me with accounting questions
A: The return on assets (ROA) measures how efficiently a company uses its total assets to generate…
Q: Please need answer the following requirement for this general accounting question
A: Explanation: In the given case, we are required to calculate the standard cost per unit for direct…
Q: In the variable costing period's income statement, where should the period's fixed costs be…
A: In variable costing, fixed costs are treated as period costs and are expensed in the period…
Q: I need this question answer general Accounting
A: Step 1: Define Variable Cost RatioIt is the total variable cost borne by a company expressed as a…
Q: I don't need ai answer general accounting question
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is calculated by…
Q: What is the amount of income or loss from acceptance of the offer?
A: To calculate the income or loss from accepting the export offer, we need to focus on the…
Q: Hi expert please give me answer general accounting
A: The Profitability Index (PI) is a measure used in capital budgeting to assess the relative…
Do fast answer of this accounting questions
Step by step
Solved in 2 steps
- Bill is cleaning his basement and finds an old vase. Believing the vase is worthless he sells it for $50.00. Later he discovers that the vase was really worth $25,000. Bill will be able to: A) recover $25,000. B) not recover anything because mistakes in judgement as to value do not permit you to avoid a contract. C) rescind the contract D) all of the aboveKim is in financial difficulty. He owes $5,000 and cannot pay it back now. Should he declare bankruptcy? Why? What do you think he should do?Solve this problem
- Rosa Valencia has a personal automobile policy (PAP) with coverage of $25,000/$50,000 for bodily injury liability, $10,000 for property damage liability that includes coverage for her vehicle, $5,000 for medical payments, and a $500 deductible for collision insurance. How much will her insurance cover in each of the following situations? Will she have any out-of-pocket costs? Rosa loses control when she swerves to miss a dog on the street, running into a parked car and causing $5,300 damage to the unoccupied vehicle and $3,750 damage to her own car. Rosa pulls out in front of another car and causes a serious auto accident, badly injuring three people. The injured parties win lawsuits against her for $35,000 for one individual, and the other two passengers claimed $5,000 each ($10,000 total). Rosa’s 16-year-old daughter borrows her car. She runs off the road when texting while driving and causes $450 damage to the car.Jessica is a professional consultant. She agrees to consulting services for Joe for $2,000. After she finishes, Joe does not have cash to pay Jessica, but he has an antique, collectible baseball card with a fair market value of $2,000 that he gives her to satisfy the payment. The baseball card cost Joe $500. How much should Jessica include in her gross income?Mike purchased a Personal Auto Policy that included Part D (coverage for damage to your auto). He lost control of his car on an icy road, slid off the road and hit a tree. Ignoring any deductible, what will the insurer pay for the damage to Mike's car? O the lesser of actual cash value or the cost to repair or replace the vehicle O the original purchase price of the vehicle O the replacement cost of the vehicle the greater of actual cash value or the cost to repair or replace the vehicle O nothing
- Ricky signed a contract to sell his slightly-used Suzuki Vitara Golf for $15,000 to an old friend Boris, after the latter threatened to tell Ricky's wife that Ricky is a discharged bankrupt. The vehicle still has a market value of $24,000. Boris told Ricky that if he didn’t sell his car to him, he will could always organise some of his former associates, who are all convicted felons, to visit Ricky and force him to do so. Advise Ricky on whether he has any remedies to have the contract declared void and get his car backJohn has an auto which is covered for collision losses subject to a $250 deductible. Kate's auto also has collision coverage but her deductible is $500. John got in an accident while borrowing Katie's car and incurred a $2,500 covered collision loss. John's policy will pay s of the covered loss. Katie's policy will pay $ IMPORTANT: Your answers should be rounded to the nearest integer and should NOT include symbols ('S' or ).2. Donald owns a car repair business. Hoodlums broke into his shop at night and stole his personal vehicle, which was there being repaired. His vehicle’s FMV before being stolen was 25,000 and FMV after was zero. The cost to replace his vehicle was 19,000, which is the amount he received in insurance proceeds. Donald’s AGI is $90,000. What deduction can Donald take on his 1040 due to the break-in? 0 6000 19000 25000
- Zachary Lee has a personal automobile policy (PAP) with coverage of $25,000/$50,000 for bodily injury liability, $25,000 for property damageliability, $5,000 for medical payments, and a $500 deductible for collision insurance. How much will his insurance cover in each of the following situations? Will he have any out-of-pocket costs?a. Zachary loses control and skids on ice, running into a parked car and causing $3,785 damage to the unoccupied vehicle and $2,350 damage to his own car.b. Zachary runs a stop sign and causes a serious auto accident, badly injuring two people. The injured parties win lawsuits against him for $30,000 each.c. Zachary’s 18-year-old son borrows his car. He backs into a telephone pole and causes $450 damage to the car.Trent is broke and needs cash immediately to pay off a debt he incurred. He visits the local pawn shop and leaves his grandfather’s watch in exchange for $100.00 cash. This is an example of what type of loan? Multiple Choice Unsecured loan Chattle loan UCC loan Secured loan The Environmental Defense Fund, an environmental watchdog group, files a lawsuit to prevent future open-pit coal mining in West Virginia. This type of lawsuit is known as a Multiple Choice wrongful-damage suit. negligence suit. citizen suit. nuisance suit. All of the following may be used as collateral for a secured transaction except Multiple Choice Future profits of a business A promissory note A patent Seeds and crops8. Which of the following best illustrates a moral hazard? . Because he has plenty of insurance, Cameron does not take steps to make his property safe when most of his neighbors have been vandalized or burglarized. . The coverage on Carl's residence has increased each year, but the value of his hom has declined due to neighborhood influences and his home's state of disrepair. . Chet purchases actual cash value, rather than replacement, coverage in order to save money on his homeowners insurance premiums. . When Clarke's empty property is vandalized, he moves furniture into the house and damages it in order to submit a larger claim.
