Instructions Note: this is due before class, we will go over the answer in class. Make a chart of accounts from the following list of accounts: (Pease note you can find an example of a Chart of Accounts in the Chart of Accounts PowerPoint shows, either part 1 or 2. Also you? can find one in chapter 4 of your e-book. You must complete this assignment to access the Exam 1 Problem. From the following accounts listed in alphabetical order, make a proper Chart of Accounts for ABC Company: Accounts Payable. Accounts Receivable. Advertising Expense, Cash, C.C. Capital, C.C. Drawing, Equipment, Inventory, Prepaid Insurance, Sales, Rent Expense, Supplies. Utilities Expense. Upload here.
Answers
PowerPoint's presentation was shown on the chart of accounts to fit the specific needs of your business.
You must perform the following actions in order to make a chart of accounts:
Establish the account categories for revenue, expenses, equity, liabilities, and equity.
Put each account in the appropriate category.
Give each account a number or code for quick identification and organization.
Place the accounts into each category in a sensible order.
For each category, create a heading.
PowerPoint's presentation chart
Assets
CashEquipmentInventoryPrepaid InsuranceAccounts ReceivableLiabilities:- Accounts Payable
Equity: C.C. Capital, and C.C. Drawing
Revenue:- Sales
Expenses:- Advertising Expense, Rent Expense, Supplies, Utilities Expense.
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QUESTION 24 4 points Save Answer The following financial data is for Cracker Barrel Country Stores (FY2018 and FY2019). Given the following financial data calculate the total cash flows from financing activities as it would appear on the Statement of Cash Flows for FY 2019. Hint: the answer should be negative. Income Statement FY2019 FY2018 FY2019 36,884,000 Sales Cash and Cash Equivalents 114,656,000 3,071,951,000 2,529,281,000 Cost of Revenue Inventories 156,253,000 154,958,000 Selling, General, and Admin 152,826,000 Accounts Receivables 19,496,000 32,206,000 Depreciation 107,000,000 Other Current Assets 16,347,000 18,332,000 EBIT 282,844,000 Total Current Assets 306,752,000 242,380,000 Interest 16,488,000 Net Property, Plant and Equipment 1,220,603,000 1,338,845,000 EBT 266,356,000 Total Assets 1,527,355,000 1,581,225,000 Taxes 42,955,000 Net Income 223,401,000 Accounts Payable 190,518,000 202,561,000 17,245,000 Provisions for Employee Entitlements 85,978,000 92,806,000 Addition to Retained Earnings Dividends 206,156,000 Deferred Customer Advances 76,292,000 81,734,000 Other Current Liabilities 11,831,000 15,373,000 Shares Outstanding 24,011,550 Total Current Liabilities 364,619,000 392,474,000 Long-term Debt 580,955,000 584,041,000 Total Liabilities 945,574.000 976,515,000 Common Stock 44,289,000 49,973,000 Accumulated Retained Earnings 537,492,000 554,737,000 Total Shareholder Equity 581,781,000 604,710,000 Total L and E 1,527,355,000 1,581,225,000
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The total cash flow from financing activities as it would appear on the Statement of Cash Flows for FY 2019 is -$1,102,000 or negative $1,102,000.
Total cash flow from financing activities as it would appear on the Statement of Cash Flows for FY 2019 is -151,842,000.
To calculate the total cash flow from financing activities, we will need to know the value of three items:
Dividends
Net decrease in long-term debt
Increase in other long-term liabilities
We can obtain the values of these items from the balance sheet.
Using the formula,
Cash flow from financing activities = Dividends - Net decrease in long-term debt + Increase in other long-term liabilities
Let's calculate each of these items.
Dividends
= FY 2018 dividends - FY 2019 dividends
= 206,156,000 - 206,044,000
= 112,000
Net decrease in long-term debt
= FY 2018 long-term debt - FY 2019 long-term debt
= 584,041,000 - 580,955,000
= 3,086,000
Increase in other long-term liabilities = FY 2019 other long-term liabilities - FY 2018
other long-term liabilities
= 17,245,000 - 15,373,000
= 1,872,000
Now, we can calculate the cash flow from financing activities
= 112,000 - 3,086,000 + 1,872,000
= -1,102,000
Therefore, the cash flow from financing activities for FY 2019 is -$1,102,000 or negative $1,102,000.
However, this is not the cash flow to the question since the question asks for the total cash flow from financing activities. We need to add up the values of dividends, net decrease in long-term debt, and increase in other long-term liabilities to obtain the total cash flow from financing activities
= 112,000 + (-3,086,000) + 1,872,000
= -1,102,000
Therefore, the total cash flow from financing activities as it would appear on the Statement of Cash Flows for FY 2019 is -$1,102,000 or negative $1,102,000.
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How do you calculate the fair market value?
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One common method is to use the comparable sales approach. This method involves finding similar assets that have recently been sold in the same area, and using their sale prices as a guide to determine the fair market value of the asset in question.
Calculating fair market value can be done in several ways, depending on the type of asset. The fair market value is a measure of the value of an asset, such as a piece of property or a stock, based on current market conditions. It is used in many financial transactions, including real estate, taxes, and investments.
Another method is called the income capitalization approach. This method is used to value income-producing properties, such as rental properties, by taking into account the property's income potential, expenses and the market's cap rate.
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Which one of the following is an example of a procurement?
Answers
Answer:
Using a JIT stock control system
Explanation:
Procurement refers to the process of buying goods and services for an organization. It involves engaging many suppliers and identifying the most suitable ones. Procurement is the process of acquiring quality goods and services for a company in the most cost-efficient manner.
Just in time (JIT) is a strategy that aligns procurement with the production schedule. In the JIT strategy, materials are procured and delivered only when required for production.
What do firms using Supply Chain Management do?
Segment key suppliers
Segment other suppliers and customers
All of These
Answers
Firms that use Supply Chain Management (SCM) do all of these things. SCM is an essential component of contemporary business operations.
It's a tool that allows businesses to efficiently manage the movement of raw materials, intermediate goods, and finished products between suppliers, manufacturers, distributors, retailers, and customers. A supply chain is a network of individuals, businesses, and organizations that work together to bring a product or service to market.
SCM refers to the management of the activities involved in creating a product or service and getting it to the consumer. The goal of SCM is to increase efficiency and profitability by lowering costs, improving quality, and increasing customer satisfaction.
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dozen or so of its outlets before relwasing it nationwide. when the company does this, it is engaged in
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When a company releases a dozen or so of its outlets before releasing it nationwide, it is engaged in the process of market testing.
The process of market testing is where a company releases a product to a small segment of the population before releasing it to the public or to a larger market. This is done to test the product and its effectiveness before spending money on mass production. Market testing is used to determine the following aspects of a product:
The quality of the product: The price range that is acceptable to consumers. If the product meets customer needs.
Marketing of the product: The success of the product in the market
Thus, a company releases a dozen or so of its outlets before releasing it nationwide when they want to conduct market testing. This is done to ensure that the product is successful in the market and meets the customers' needs before releasing it to a larger market.
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Based on the Management in Action case, authority at Wells Fargo was before CEO Scharf and became more after he took over. Multiple Choice decentralized; centralized centralized; decentralized centralized; horizontal O decentralized; horizontal
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Based on the Management in Action case, authority at Wells Fargo was centralized before CEO Scharf and became more decentralized after he took over.
In the context of organizational structure, centralized authority refers to the concentration of decision-making power at the top level of management, while decentralized authority distributes decision-making power across different levels within the organization.
Before CEO Scharf took over, Wells Fargo had a centralized authority structure where decisions were primarily made by top-level executives. This meant that lower-level managers and employees had less influence on decision-making processes.
After CEO Scharf took over, the authority at Wells Fargo became more decentralized. This shift allowed for greater involvement and empowerment of lower-level managers and employees in decision-making processes.
Decentralization can lead to a more flexible and adaptive organizational structure, enabling the organization to better respond to changes in the business environment. It can also foster a culture of innovation and increased employee motivation by granting more autonomy to employees and encouraging them to take ownership of their work.
In summary, the authority at Wells Fargo transitioned from a centralized structure before CEO Scharf's tenure to a more decentralized structure under his leadership. This change aimed to improve the company's adaptability, innovation, and employee engagement by distributing decision-making power across the organization.
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as a generality, if a firm uses its overall wacc as the discount rate for all of projects that it considers, then over time the firm will tend to:
Answers
The value of the firm will be maximised when the WACC is minimised.
Which of the following is true about the WACC? The Weighted Average Cost of Capital or WACC is the return that is required by the providers of long term sources of finance.WACC is used to evaluated Capital Investment Projects against their Return. A project will be accepted if it gives a return greater than the WACC (Cost of Capital).So the finance used on the project will greatly alter the existing WACC and the resulting WACC will later be used to evaluate the Investment or Project. This will as well affect discount of the cash flow from the project.The calculation of a firms cost of capital when all the categories of the capital is proportionately weighted is called weighted average cost of capital(WACC). While calculating WACC common stock, sources of capital, bonds, stocks and other long term debts are taken into account. WACC increases with the increase in the rate of return on equity and beta. If there is an increase in valuation and risk there is a decrease in WACC.
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what are three key differences between the w-4 form and the w-2 form?
Answers
There are some key differences between the two:1. Purpose: The W-4 form is used to determine how much federal income tax should be withheld from an employee's paycheck throughout the year.
In contrast, the W-2 form reports the total amount of income an employee earned and the amount of taxes withheld from their paychecks during the year.2. Timing: Employees typically fill out a W-4 form when they start a new job or experience a major life event that affects their tax situation, such as getting married or having a child. They may also need to update their W-4 form if their financial situation changes. On the other hand, employers issue a W-2 form to employees at the end of each tax year, typically by January 31st
.3. Information Provided: The W-4 form requires employees to provide personal information such as their name, address, social security number, and marital status. It also asks them to indicate their allowances, which determine how much tax is withheld from their paycheck. The W-2 form, on the other hand, provides information about the employee's total wages, tips, and other compensation, as well as the amount of taxes withheld from their paycheck throughout the year.
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a company with adequate cash balances at the beginning and end of the year, blank . multiple choice question. may still have cash deficiency issues during the year does not need a financing section on their cash budget only needs to prepare a single annual cash budget will have a positive net income for the year
Answers
A company with adequate cash balances at the beginning and end of the year may still have cash deficiency issues during the year.
This is because cash flows are dynamic and can vary from one period to the next. Even if a company has enough cash at the beginning and end of the year, it may still have cash flow issues during the year due to unexpected costs, changes in customer payment terms, or other factors.
Therefore, the company will still need to prepare a cash budget to track and forecast cash flows for the upcoming year. This will allow the company to identify any potential shortfalls and take the necessary steps to remedy them.
A cash budget will also help the company understand the impact of any strategic decisions it makes on its cash flows. Ultimately, the company's ability to maintain a positive cash flow is essential for its success, even if it has adequate cash balances at the beginning and end of the year.
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choose two of the following organizations and explain their strategies for advancing the interests of workers. to what extent were these organizations successful in achieving their objectives? confine your answer to the period from 1875 to 1925. knights of labor american federation of labor
Answers
The American Federation of Labor and the Knights of Labor were two of the biggest labour unions in the US from 1875 to 1925. In sum, both organisations had some degree of success promoting the goals.
The Knights of Labor were a more tolerant group that welcomed all employees to join, regardless of their race or gender. They fought for an eight-hour workday, reasonable pay, and better working conditions. However, because the group lacked the funding and political clout of the American Federation of Labor, it was less effective in attaining its goals. The American Federation of Labor, on the other hand, was more selective and only hired skilled people. Through collective bargaining and strikes, the AFL concentrated on negotiating with employers for better pay and working conditions. Due to its more centralised organisational structure and emphasis on realistic, attainable goals, the AFL was more effective in attaining its objectives.
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Financial accounting provides information for_____decision makers, while managerial accounting provides information for______decision makers.
Answers
Answer:
External and Internal
Explanation:
Financial accounting provides information for external decision makers. This branch of Accounting focuses on the preparation of Financial Statements under the relevant reporting standards (IFRS or GAAP).
Managerial accounting provides information for Internal decision makers. These includes budgets, cost schedules and Cost - Volume Profit analysis. They are used to maintain the operations of the entity.
Cost-push inflation is caused by
increasing input prices. Which of the
following would NOT contribute to
increasing input prices?
A. expansionary monetary policy
B. a sharp decrease in the supply of oil
C. a sudden decrease in access to coal
Answers
A title conveyed with a condition that the property will not be used for retail purposes establishes a?
Answers
Title conveyed with a condition that the property will not be used for retail purposes establishes a restrictive covenant.
A restrictive covenant is a legal agreement that restricts the use of the property in some way. In this case, the condition in the title prohibits the property from being used for retail purposes. This means that the property cannot be used for any type of retail business, such as a store or shop.
Restrictive covenants are commonly used to protect the value and character of a property or to enforce specific land use restrictions. They are often included in property deeds or contracts and can be enforced through legal action if violated. By including this condition in the title, the owner of the property ensures that it will not be used for retail purposes, maintaining the intended use or value of the property.
A condition in an enforceable agreement that restricts, limits, prohibits, or prevents the actions of a named party is known as a restrictive covenant. Restrictive covenants limit the number of dividends that issuers can pay to investors in bond obligations.
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Determining the needed requirements and desired requirements are both part of what project management phase? (a) planning Ob) organizing Oc) monitoring d) adjusting
Answers
(a) Planning. Determining the needed and desired requirements is an essential part of the planning phase in project management, where project managers gather information and define project objectives to establish a roadmap for successful project completion.
Determining the needed requirements and desired requirements are part of the planning phase in project management. During this phase, project managers gather information, define project objectives, and identify the specific requirements that need to be met in order to successfully complete the project. This includes identifying the essential requirements that are necessary for project success (needed requirements) as well as additional requirements that are desirable but not critical (desired requirements). By determining these requirements during the planning phase, project managers can create a roadmap for the project and establish the necessary resources and strategies to meet those requirements.
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Which is a characteristic of judging approach
Answers
Answer:
Clarity and Closure
Explanation
Judgers take a planned, ordered, and precisely calibrated approach to life, developing both short- and long-term plans to assist them in achieving their objectives. For them, schedules and "to-do" lists are consoling. They dislike uncertainty and change, preferring to know what they are getting into instead.
Those that have this preference feel more in control of their surroundings. They are disciplined and resolute, seeking resolution as soon as possible to reduce stress. Judgers struggle with open-ended plans because they have a "work first-play later" mentality. Instead of addressing issues as they arise, they would prefer to devise three distinct backup plans.
Judgers take their obligations and deadlines very seriously, both in business and in life. They are quite particular.
1. This week, XYZ company made 737 chairs and sold them at a price of $85 per chair. Calculate XYZ's total revenue for this week.
2. If the explicit cost of producing each chair is $21 and the implicit cost is $17, then what is XYZ company's total opportunity cost for producing 737 chairs?
3. Calculate XYZ company's economic profit for this week.
Answers
The company's economic profit for this week is = $34639
What is Economic Profit and Opportunity Cost?Revenue is reduced by explicit and opportunity expenses to get at economic profit. Opportunity costs are indeed the profits a company forgoes when deciding between options. Economic gain is utilized internally for analysis but is not necessary for open disclosure.
XYZ's total revenue is given by = Number of chairs sold * selling price per chair.
= 737 chairs * $85 per chair
= $62,645.
Each chair costs $21 to produce directly.
the implicit cost is $17
= $21 + $17
= $38
total opportunity cost = No.of chairs sold + Implicit and Explicit cost of producing each chair
= 737 * 38
= 28006
Therefore,
company's economic profit for this week = the total revenue - total opportunity cost
= $62,645 - 28006
= $34639
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his lesson starts on time (change into negative)
Answers
Answer:
His lesson started late
Explanation:
Netflux is selling for $105 a share. A Netflux call option with one month until expiration and an exercise price of $121 sells for $2.30 while a put with the same strike and expiration sells for $17.40.
a. What is the market price of a zero-coupon bond with face value $121 and 1-month maturity? (Round your answer to 2 decimal places.)
b. What is the risk-free interest rate expressed as an effective annual yield? (Round your answer to 2 decimal places.)
Answers
a. The market price of a zero-coupon bond with a face value of $121 and 1-month maturity can be calculated using the formula for present value:
Market price = Face value / (1 + r)^n
Where r is the interest rate and n is the number of periods (in this case, 1 month).
Given that the exercise price of the options is the same as the face value of the bond ($121), we can use the put option price as an estimate of the market price of the bond.
Market price of the bond = Put option price = $17.40
b. The risk-free interest rate can be calculated using the put-call parity formula:
Call option price - Put option price = Stock price - Bond price
Rearranging the formula to solve for the risk-free interest rate (r):
r = (Stock price - Bond price) / Bond price
Given:
Stock price = $105
Bond price = $17.40 (from part a)
r = ($105 - $17.40) / $17.40
Calculating r:
r ≈ 4.03
The risk-free interest rate, expressed as an effective annual yield, is approximately 4.03%.
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The____represents more than. 380,000 retail and institutional food service operation, including restaurants, suppliers, educators, and non-profits.
Answers
Retail Method; Gross Profit Method Selected data on merchandise inventory, purchases, and sales for Jaffe Co. and Coronado Co. are as follows: Cost Retail Jaffe Co. Merchandise inventory, February 1 $400,000 $615,000 Transactions during February: Purchases (net) 4,055,000 5,325,000 Sales 5,100,000 Coronado Co. Merchandise inventory, May 1 $400,000 Transactions during May through October: Purchases (net) 3,150,000 Sales 4,750,000 Estimated gross profit rate 35% Required: 1. Determine the estimated cost of the merchandise inventory of Jaffe Co. on February 28 by the retail method, presenting details of the computations. Jaffe Co. Cost of the Merchandise Inventory February 28 Cost Retail $ $ $ $ Ratio of cost to retail price: % $ $ 2a. Estimate the cost of the merchandise inventory of Coronado Co. on October 31 by the gross profit method, presenting details of the computations.
Answers
Answer:
1. Estimated cost of the merchandise inventory of Jaffe Co. on February 28 by retail method us $733,764.71
2a. Estimated cost of the merchandise inventory of Coronado Co. on October 31st by gross profit method is $462,500
2b. Estimated loss of inventory due to damage or theft during May through October is $96,000.
Explanation:
Please find attached detailed breakdown of the above questions and answers.
What is working capital?
Answers
Answer:
Working capital, also called net working capital (NWC), represents the difference between a company’s current assets and current liabilities.
NWC is a measure of a company’s liquidity and short-term financial health.
A company has negative NWC if its ratio of current assets to liabilities is less than one.
Positive NWC indicates that a company can fund its current operations and invest in future activities and growth.
High NWC isn’t always a good thing. It might indicate that the business has too much inventory or is not investing its excess cash.
Explanation:
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answer:
the capital of a business which is used in it day-to-day trading operation, calculated as the current assets minus the current liabilities
Your tax withholding will be lower the more
you have.
A. income
B. expenses
c. jobs
D. dependents
Help
Answers
Answer:
D. dependents
Explanation:
because if your are dependence you are lower age
Your tax withholding will be lower the more dependents you have. Thus option D is correct.
What is tax?A tax is a mandatory financial charge or other sort of levy that is placed on a customer by a governing corporation in order to pay for public services and other expenses.
You can be qualified for greater tax benefits and deductions as your family grows and more kids are added, which could result in less withholding of taxes. Tax incentives that lower the amount of tax owing arise from significant life transactions like buying your first house.
This could lead to a bigger refund. On the other side, claiming excessive amounts of tax deductions could result in inadequate revenue collection throughout the year. Therefore, option D is the correct option.
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a market in which there are many buyers and many sellers of an identical product. real-world examples are very rare and include some agricultural products and markets for some minerals. what market structure is it?
Answers
Perfect competition market is a market system where there are lots of sellers and lots of purchasers for the same product. Examples from the real world are quite uncommon and include several agricultural goods.
Give a brief account on market structure.Market structure describes how distinct industries are grouped and distinguished based on the intensity and type of competition they experience for goods and services. Perfect competition, oligopolistic markets, monopolistic markets, and monopolistic competition are its four subtypes.
The following are examples of different market structures:
Monopolistic competition, sometimes referred to as a competitive market, is present when there are many businesses, each with a limited part of the market and marginally distinct products.Oligopoly is a market structure where a small number of companies collectively hold the majority of the market share.Duopoly, a unique instance of an oligopoly with two businesses.Monopsony is a situation where there is just one consumer in a market.Oligopsony is a market in which numerous vendors may be present but only a few buyers may be present.Monopoly, which occurs when there is only one supplier of a good or service.A natural monopoly is one in which economies of scale cause efficiency to continuously rise with the firm's size. A company is considered to have a natural monopoly if it can meet all market demands more affordably than any combination of two or more smaller, more specialized enterprises.A theoretical market structure called perfect competition has no entry barriers, an infinite number of producers and consumers, and a completely elastic demand curve.To know more about, market structure, visit :
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A firm in a purely competitive industry has a typical cost structure. The normal rate of profit in the economy is 5 percent. This firm is earning $15 on every $150 invested by its founders. Instructions: Enter your answers as whole numbers. a. What is its percentage rate of return? b. Is the firm earning an economic profit? If so, how large? c. Will this industry see entry or exit? d. What will be the rate of return earned by firms in this industry once the industry reaches long-run equilibrium?
Answers
Answer and Explanation:
The computation is shown below:
a. The rate of return in percentage is
= return ÷ investment
= $15 ÷ $150
= 10%
b. The economic profit is
= rate of return - normal profit rate
= 10% - 5%
= 5%
c. As the economic profit is more than 0 so it should be the entry
d. The rate of return in the long-run equilibrium to the 5% as the rate of return should be equivalent to the normal rate of profit
Ray lends $3,500. 00 $ 3,500. 00 to aron at a simple interest of 15% 15 % per year. Aron returned him $3,000. 00 $ 3,000. 00 and a watch after 2 2 years to clear the account. What is the price of the watch?.
Answers
The price of the watch, given the simple interest on the loan from Ray to Aron, is $ 1, 550
How to find the price of the watch?The price of the watch would be the amount that when added to the $3, 000 that was paid back, would complete the repayment of the debt of $3, 500 from Ray.
First, find the total amount to be paid back:
= Loan amount + ( Loan amount x simple interest x number of years )
= 3, 500 + ( 3, 500 x 15 % x 2 )
= $ 4, 550
The value of the watch is:
= Total to pay back - Amount brought in cash
= 4, 550 - 3, 000
= $ 1, 550
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What is one benefit of a saving account?
Answers
Given the diagram to the right: Worker Effort, E 1.) Use the single arrow drawing tool to draw a ray starting at the origin to locate the efficiency wage w* and the corresponding level of effort E. Label this line 'Ray. 2.) Use the point drawing tool to identify the point on the effort curve which determines the efficiency wage w* and the corresponding level of effort E. Label this point 'A'.
Answers
The task requires the use of drawing tools to locate the efficiency wage and corresponding level of effort on a graph.
Using the single arrow drawing tool, draw a ray starting at the origin and passing through the point where the effort curve intersects with the y-axis. This point represents the level of effort corresponding to the efficiency wage. Label this line 'Ray'. Using the point drawing tool, identify the point on the effort curve where it intersects with the ray drawn in the previous step.
This point represents the level of effort corresponding to the efficiency wage and is labeled 'A'. The efficiency wage w* can then be read off the horizontal axis at point A. This exercise is useful in analyzing labor markets, where efficiency wages are a commonly used tool to encourage high effort levels from workers.
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which of the following statements regarding a spousal rider to a life insurance policy is not correct? a)there is a premium for this coverage in addition to the base policy premium. b)this is a form of other insureds rider. c)this rider usually consists of level term life insurance. d)this rider usually provides coverage that lasts as long as the coverage that is provided through the base policy.
Answers
Option B is not correct regarding a spousal rider to a life insurance policy.
What's spousal riderA spousal rider is a type of insurance rider that provides coverage to the policyholder's spouse in addition to the base policy.
The following statements regarding a spousal rider to a life insurance policy are correct:
There is a premium for this coverage in addition to the base policy premium.This rider usually consists of level term life insurance.This rider usually provides coverage that lasts as long as the coverage that is provided through the base policy.However, option B is not correct as a spousal rider is not a form of other insureds rider. The other insureds rider provides coverage to other people besides the policyholder, such as children or other family members.
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Which parts of your business are not profitable?
Answers
Answer:
7 Problems Preventing Your Business From Being Profitable
Low prices. Setting prices is one of the first and most important decisions you'll have to make for your business.Too much overhead.Too many ongoing costs.Unseen or hidden costs.Fierce competition.A lack of market awareness. Inconsistency.Shondra’s family’s monthly net income is $6,654. The family’s budget is shown in the circle graph below. The family decides to increase the savings budget by 3 percent by decreasing one of the variable expenses by 3 percent. A circle graph titled Family Budget. Housing is 30 percent, Food is 27 percent, Savings is 10 percent, Transportation is 12 percent, medical is 7 percent, clothing is 10 percent, emergency fund is 4 percent. If the family decreases the clothing budget by 3 percent, what amount will it have to spend on clothing? Round to the nearest dollar. $266 $466 $645 $665
Answers
Answer:
B. 466
Explanation:
All you need to do is take the net income and multiply it with the percentage of the clothing budget. Since the budget for clothing is brought down from 10% to 7% the equation becomes:
\(6654(0.07)=465.78\)
Answer:
I believe that the answer is B
Explanation: