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The incomes of A B and C are in the ratio 7.9.12 and their expenses are in the ratio 8.9.15 If A saves 1by4 -fraction- of his income how would you find the ratio of their savings?
AniketShedge
the ratio of the savings of A B and C would be 56, 99, 69
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∙ 15y ago
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Paulson spends 75 percent of his income His income is increased by 20 percent and he increased his expenditure by 10 percent. Find the percentage increase in his savings?
Set original income to be x and expenses were 0.75x, so he was saving 0.25 Income is now (1+ .2)x=1.2x and expenses are now (1 + .1)(.75)=0.825 savings are now 1.2-0.825=0.375, and .375/.25 = 1.5 so this is a 50% gain in savings.
What is the relationship between income and expenses before a break-even point is reached?
Before the break even point, total expenses exceed total income and there is a loss made.
Does consumption equal disposable income plus savings?
no. however, disposable income minus consumptions equals savings
If you plan to spend 9 percent of your monthly income on medical expenses how much would you budget for a monthly income of 1550?
If you plan to spend 9 percent of your monthly income on medical expenses, you would budget $139.50 for a monthly income of $1550.
Why a budget line sloping downward?
Because the expenses are greater than the income.
How do you calculate percentage for expenses on an income statement?
Its the amount of expenses divided on the amount of incomes *100 , so we can get the percentage of expenses from incomes .
What are the categories in an income statement?
+ Incomes or Revenues - Expenses
Why expenses debited in the income statement?
All incomes and expenses related to one fiscal year arrives in income statement as it is the sole purpose of income statement to show all expenses and incomes to arrive and net profit or net loss for that period.
How does the contribution margin income statement differ from the income statement used in financial reporting?
Income statement in financial reporting is different in this sense that in that income statement all expenses and incomes are shown as incomes and expenses and there is no classification of fixed expenses or variable expense while in contribution margin income statement expenses are shown in this way that separate the fixed expenses from variable portion of expenses.
What is the name of the financial statement that compares your income to expenses?
'Income Statement' is the financial statement which compares the business incomes with its expenses using matching principle for specific period of time
What three important variables affect savings?
Income level: Higher income usually leads to more savings potential. Expenses: The lower your expenses, the more you can save. Interest rates: Higher interest rates on savings accounts can encourage more savings.
A family spends 20 of its monthly income on food 23 on rent and 42 on other expenses and saves the balance If the family saves 360 per month what is its monthly income?
20%(food) + 23%(rent) + 42%(other expenses) = 85% food, rent, and other expenses is 85% of the income so then the savings is 15% of the family income 100% - 85% = 15%(savings) 360(savings) is 15% of the family income 15/100 = 360/x if 360 is 15% of the family income the total of the family income is 2400 20%(food) + 23%(rent) + 42%(other expenses) = 85% food, rent, and other expenses is 85% of the income so then the savings is 15% of the family income 100% - 85% = 15%(savings) 360(savings) is 15% of the family income 15/100 = 360/x if 360 is 15% of the family income the total of the family income is 2400
What goes on a income statement?
income statement includes expenses and incomes related to that specific single fiscal year for which that income statement is prepared. It is to clarify that only income and expenses related to that specific period is included and not for any other fiscal year.
What five sources make up national income?
wages and salaries, income of self employed, rental incomes, & interest on savings and investments
Consolidated income statement?
Consolidated income statement is that statement in which expenses and incomes of subsidiary as well as parents companies shown as a joint in one single income statement.
What are the accounting entries for expenses and incomes in double entry systems?
income with non taxable should put in under which account
What is an income statement?
Income statement is financial statement which shows all incomes and expenses for specific fiscal year and net profit or loss for specific fiscal year.
