Account Analysis Method Penny Hassan runs the Shear Beauty Salon near a college campus. Several...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Account Analysis Method Penny Hassan runs the Shear Beauty Salon near a college campus. Several months ago, Penny used some unused space at the back of the salon and bought two used tanning beds. She hired a receptionist and kept the salon open for extended hours each week so that tanning clients would be able to use the benefits of their tanning packages. After three months, Penny wanted additional information on the costs of the tanning area. She accumulated the following data on four accounts: Penny decided that wages and equipment depreciation were fixed. She thought supplies and maintenance would vary with the number of tanning visits and that electricity would vary with the number of tanning minutes. Required: Calculate the average account balance for each account. Calculate the average monthly amount for each of the two drivers. Round all answers to the nearest dollar or the nearest whole unit. Use your rounded answers in all subsequent computations. Average Account Balance 
Account Analysis Method
Penny Hassan runs the Shear Beauty Salon near a college campus. Several months ago, Penny used some unused space at the back of the salon and bought two used
tanning beds. She hired a receptionist and kept the salon open for extended hours each week so that tanning clients would be able to use the benefits of their tanning
packages. After three months, Penny wanted additional information on the costs of the tanning area. She accumulated the following data on four accounts:
Penny decided that wages and equipment depreciation were fixed. She thought supplies and maintenance would vary with the number of tanning visits and that electricity
would vary with the number of tanning minutes.
Required:
Calculate the average account balance for each account. Calculate the average monthly amount for each of the two drivers. Round all answers to the nearest
dollar or the nearest whole unit. Use your rounded answers in all subsequent computations.
Average
Account Balance
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.