Answer and Explanation:
1. The computation of the joint cost of each production assign to the smooth skin by relative sales values method is shown below:
Smooth skin
= $360,000 × (170,000 × $3.20) ÷ (170,000 × $3.20 + 300,000 × $5.20)
= $360,000 × $544,000 ÷ $2,104,000
= $93,080
And, for silken smooth
= $360,000 × (300,000 × $5.20) ÷ (170,000 × $3.20 + 300,000 × $5.20)
= $360,000 × $1,560,000 ÷ $2,104,000
= $266,920
In 2009, Khalid was in an automobile accident and suffered physical injuries. The accident was caused by Rashad's negligence. Khalid threatened to file a lawsuit against Amber Trucking Company, Rashad's employer, claiming $50,000 for pain and suffering, $25,000 for loss of income, and $100,000 in punitive damages. Amber's insurance company will not pay punitive damages; therefore, Amber has offered to settle the case for $120,000 for pain and suffering, $25,000 for loss of income, and nothing for punitive damages. Khalid is in the 35% marginal tax bracket. What is the after-tax difference to Khalid between Khalid's original claim and Amber's offer
Answer:
$5,000
Explanation:
Amber offer = 120,000 + 25,000 = $145,000
Original claim = ($50,000 + $25,000) + [$100,000 × (1 - 0.35) = $140,000
Difference = $145,000 - $140,000 = $5,000
So, the after-tax difference to Khalid between Khalid's original claim and Amber's offer is $5,000
An alumnus of West Virginia University wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years. If the size of each donation is exactly the same, the amount that must be donated each year at i = 8% per year is closest to:___.
a) $190.820.
b) $122.280.
c) $127.460.
d) $132.040.
Answer:
A
Explanation:
Present value of a perpetuality = amount / interest rate
= $40,000 / 0.08 = $500,000
Let D denote denote denotions
[tex]D + \frac{D}{1 + 0.8} + \frac{D}{1.08^{2} } = $500,000[/tex]
D = $190.820.
Which of the following is not an example of a problem explained by agency theory?
A manager fires underperforming employees.
A manager takes few risks to ensure steady dividends.
A manager encounters a conflict of interest between their responsibilities to shareholders and their responsibilities to employees.
A manager protects her own job rather than the shareholder’s wealth.
Answer:
d
Explanation:
A manager protects her own job rather than the shareholder’s wealth.
its not correct.
Consumers spend _______ a year on credit card penalties and fees.
$10 million
$110 billion
$90 billion
$80 million
On January 1, 2021, Oliver Foods issued stock options for 47,000 shares to a division manager. The options have an estimated fair value of $7 each. To provide additional incentive for managerial achievement, the options are not exercisable unless Oliver Foods' stock price increases by 6% in four years. Oliver Foods initially estimates that it is not probable the goal will be achieved. How much compensation will be recorded in each of the next four years
Answer:
$82,250
Explanation:
the compensation per year = 47,000 x 1/4 x$7 per stock = $82,250
The compensation must be allocated proportionally to every year included in the plan, regardless of the conditions specified by the plan. The stock price already implicitly includes the most probable market conditions for the company, so that is the price that has to be used to record the compensation plan.
WILL GIVE BRAINLIEST PLZ HELP
The controller (money manager) for a small company puts some money in a bank account paying 3% per year. He uses some additional money, amounting to 1/3 the amount placed in the bank, to buy bonds paying 4% per year. With the balance of the funds, he buys a 9% certificate of deposit. The first year the investments bring a return of $785. If the total of the investments is $10,000 how much is invested at each rate?
Answer:
$1,500 is invested in a bank account paying 3% per year.
$500 is used to buy bonds paying 4% per year.
$8,000 is used to buy 10% certificate of deposit
Explanation:
Let
x = money used to invest in a bank account paying 3% per year
y = money used to buy 10% certificate of deposit
Because the money used to buy bonds (that pays 4% per year) is equal to one-third of the money used to invest in a bank account paying 3% per year,
x/3 = money used to buy bonds (that pays 4% per year)
Because the total investment is $10,000, we add all the variables that represents the amount of money for each investments. So,
(1)
To compute the return of each investment, we change the rate to decimal and multiply it to the amount of investment because the problem only states the return of first year of investment. Then,
0.03x = return from a bank account paying 3% per year
0.04(x/3) = return from a bond paying 4% per year
0.1y = return from 10% certificate of deposit
Since the total return for the first year of investment is $865, we just add the returns of each investment and create the following equation:
Note: In equation (2), we want to have an equation with 3y so that when we subtract equation (1) to equation (2), we only have an equation involving x, which is easier to solve.
By subtracting equation (1) to equation (2),
(4x + 3y) - (1.3x + 3y) = 30,000 - 25,950
2.7x = 4,050
x = $1,500 = amount deposited in a bank account paying 3% per year
So,
x/3 = 1500/3
x/3 = $500 = amount used to buy bonds paying 4% per year
Using the value of x = 1,500 and replacing the value of x in equation (1),
4x + 3y = 30,000
4(1,500) + 3y = 30,000
6,000 + 3y = 30,000
3y = 24,000
y = $8,000 = money used to buy 10% certificate of deposit
From the following information, please prepare an Income Statement, Statement of Owner’s Equity, and Balance Sheet for the month of May of the current year.
Cash
$12,000
Accounts Receivable
16,000
Supplies
350
Equipment
16,500
Notes Payable
$13,000
Accounts Payable
12,000
S. Jones, Capital
18,000
S. Jones, Drawing
550
Service Revenue
6,000
Telephone Expense
350
Rent Expense
1,100
Advertising Expense
2,150
$49,000
$49,000
Answer:35,000
Explanation:
Answer:
I found answer for this at this website
Explanation:
https://gotit-pro.com/from-the-following-information-please-prepare-an-income-statement-statement-of-owners-equity-and-balance-sheet-for-the-month-of-may-of-the-current-year
An incomplete subsidiary ledger of materials inventory for May is as follows:
RECEIVED ISSUED BALANCE
Receiving Materials
Report Unit Requisition Unit
Number Quantity Price Number Quantity Amount Date Quantity Price Amount
May 1 285 $30.00 $8,550
40 130 $32.00 May 4
91 365 May 10
44 110 38.00 May 21
97 100 May 27
Required:
A. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO.
B. Determine the materials inventory balance at the end of May.
C. Journalize the summary entry on May 31 to transfer materials to work in process. Refer to the Chart of Accounts for exact wording of account titles.
D. Explain how the materials ledger might be used as an aid in maintaining inventory quantities on hand.
Chart of Accounts
CHART OF ACCOUNTS
General Ledger
ASSETS
110 Cash
121 Accounts Receivable
125 Notes Receivable
126 Interest Receivable
131 Materials
132 Work in Process
133 Factory Overhead
134 Finished Goods
141 Supplies
142 Prepaid Insurance
143 Prepaid Expenses
181 Land
191 Factory
192 Accumulated Depreciation-Factory
LIABILITIES
210 Accounts Payable
221 Utilities Payable
231 Notes Payable
236 Interest Payable
241 Lease Payable
251 Wages Payable
252 Consultant Fees Payable
EQUITY
311 Common Stock
340 Retained Earnings
351 Dividends
390 Income Summary
REVENUE
410 Sales
610 Interest Revenue
EXPENSES
510 Cost of Goods Sold
520 Wages Expense
531 Selling Expenses
532 Insurance Expense
533 Utilities Expense
534 Office Supplies Expense
540 Administrative Expenses
560 Depreciation Expense-Factory
590 Miscellaneous Expense
710 Interest Expense
Materials Inventory
Shaded cells have feedback.
A. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO.
RECEIVED
ISSUED
BALANCE
Receiving Materials
Report Unit Requisition
Number Quantity Price Number Quantity Amount Date Quantity Unit Price Amount
May 1 285 $30.00 $8,550
40 130 $32 May 4
91 365 May 10
44 110 38 May 21
97 100 May 27
Points:
12 / 20
B. Determine the materials inventory balance at the end of May.
Points:
0 / 1
Feedback
Check My Work
A and B. Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity.
Journal
Shaded cells have feedback.
C. Journalize the summary entry on May 31 to transfer materials to work in process. Refer to the Chart of Accounts for exact wording of account titles.
How does grading work?
PAGE 10
JOURNAL
C. Increase work in process and decrease materials for the total of issuances found in Req. A.
Final Question
Shaded cells have feedback.
D. Explain how the materials ledger might be used as an aid in maintaining inventory quantities on hand.
Comparingquantities on hand as reported in the materials ledger with predetermined order points enables management to order materials beforea lack of materials causes idle time.
Answer:
An incomplete subsidiary ledger of materials inventory for May is as follows:
A. Materials Issuances and balances for the materials subsidiary ledger under FIFO:
RECEIVED ISSUED BALANCE
Receiving Materials
Report Unit Requisition Unit
Number Qty Price Number Qty Amount Date Qty Price Amount
May 1 285 $30.00 $8,550
40 130 $32.00 May 4 415 $12,710
91 365 May 10 50 $32.00 $1,600
44 110 38.00 May 21 160 $5,780
97 100 May 27 60 $38.00 $2,280
B. The materials inventory balance at the end of May is 60 units at $2,280.
C. Debit Work in Process $14,610
Credit Materials $14,610
To record the transfer of materials to work in process.
D. The materials ledger shows the quantities and costs of materials remaining at any point in time. It also indicates the dates for all related transactions. With the quantities of materials received in and issued out and the balances indicated clearly, it is possible to ensure that a required level of inventory remains in stock and to place orders at the right time.
Explanation:
a) Raw materials Inventory Issuance:
Quantity issued = 365
Cost of units issued on May 10 = $11,110 ($12,710 - 1,600)
Cost of units issued on May 27 = $3,500 ($5,780 - 2,280)
Total cost of units issued out = $14,610
A machine makes three different components used in a gyroscope. Call these components A, B, and C. The following repeating schedule is used to make components: make 100 units of A, make 50 units of B, and then make 200 units of C. How many components are made in the production cycle
Answer:
350
Explanation:
Calculation for How many components are made in the production cycle
Components A 100 units
Components B 50 units
Components C 200 units
Total 350 components
Therefore How many components are made in the production cycle is 350 components
Rebecca received a check from her parents for her 20th birthday. She, however, does not have an account at any bank, so she is unable to cash the check. Even though it will cost her a fee, where can Rebecca go to get her money?
A.
rent-to-own service
B.
pawnshop
C.
check cashing business
D.
payday loan business
The answer is C.) check cashing business
The picture will help
Hope this helps
Answer: check cashing business
Item1 1 points eBookAskReferencesItem 1 TB MC Qu. 06-91 The following information... The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 8,419 Accounts receivable 70,422 Merchandise inventories 60,362 Prepaid expenses 4,100 Accounts payable $ 14,950 Notes payable 86,638 Other current liabilities 9,500 If net sales for the current year were $612,000, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
Answer: 42 days
Explanation:
To solve the above question, first, we will have to calculate the debtors turnover ratio which is the date sales uncollected for the year. This will be:
= Sales/Average Accounts Receivables
= $612,000 / $70,422
= 8.69 times
Since we are using 365 days for a year, then the firm's days sales uncollected for the year will be calculated as:
= 365 / 8.69
= 42 days
1. There are 20 forging presses in the forge shop of a small company. The shop produces batches of forgings requiring a setup time of 3.0 hours for each production batch/machine. Average standard time for each part in a batch is 45 seconds, and there are 600 parts in a batch/machine. The plant workforce consists of two workers per press, two foreman, plus three clerical support staff. (a) Determine how many forged parts can be produced in 1 month, if there are 8 hours worked per day and average of 21 days per month at one shift per day. (b) What is the labor productivity ratio of the forge shop, expressed as parts per worker-hour
Answer:
The solution according to the given scenario is described below.
Explanation:
The given values are:
No. of foreign presses,
= 20
Required setup time,
= 3 hours
Average standard time,
= 45 seconds
Average produced batch,
= 600
Now,
(a)
The number of workers will be:
= [tex]20\times 2+2+3[/tex]
= [tex]40+2+3[/tex]
= [tex]45[/tex]
The total time for batch's production will be:
= [tex]3\times 60+(45\times \frac{600}{60} )[/tex]
= [tex]180+45\times 10[/tex]
= [tex]630 \ minutes[/tex]
or
= [tex]10.5 \ hours[/tex]
The total number of hours per month will be:
= [tex]8\times 21[/tex]
= [tex]168 \ hours[/tex]
then,
The total batches per month will be:
= [tex]\frac{168}{10.5}[/tex]
= [tex]16 \ batches \ per \ month[/tex]
Total batches = [tex]20\times 16[/tex]
= [tex]320[/tex]
Now,
The produced pieces will be:
= [tex]320\times 600[/tex]
= [tex]192000 \ pieces/month[/tex]
(b)
[tex]Labour \ productivity= \frac{ Total \ production}{ Labour \ hours }[/tex]
On substituting the given values, we get
[tex]=\frac{192000}{(8\times 21\times 45)}[/tex]
[tex]=25.4 \ per \ worker \ hours[/tex]
The labor productivity ratio is the ratio analytical tool that determines the efficiency of labor to perform their task and provide higher returns and production in the specified time limit. It is determined by taking into consideration the total number of products and the labor hours provided to each labor per day.
a) The number of forged parts that can be produced in 1 month is 192,000 pieces per month.
b) The labor productivity ratio of the forged shop is 25.40 per labor hour.
Computations:
a)
[tex]\begin{aligned}\text{Number of pieces}&=\text{Total Batch}\times\text{Parts in Batch per Machine}\\&=320\;\text{batches}\times600\;\text{parts}\\&=192,000\;\text{pieces per month}\end{aligned}[/tex]
Working Note:
[tex]\begin{aligned}\text{Number of Workers}&=\left(\text{No. of foreign presses}\times\text{Worker per press}\right)\\&+\text{Worker per press}+\text{Setup Time}\\&=\left(20\times2 \right )+2+3\\&=45\;\text{no. of workers} \end{aligned}[/tex]
[tex]\begin{aligned}\text{Time for batch production}&=\text{Setup Time}\times\text{Average produced batch}\\&+\left(\text{No. of workers}\times\frac{\text{Average produced batch}}{\text{Minutes}} \right )\\&=3\times60+\left(45\times\frac{600}{60}\right)\\&=630\;\text{minutes or}\;10.50\;\text{hours}\end{aligned}[/tex]
[tex]\begin{aligned}\text{Total Batches}&=\text{No. of Foreign Presses}\times\text{Total Batches per month}\\&=20\times\left(\frac{\text{hours per day}\times\text{days per month}}{\text{Total time for batch production}} \right )\\&=20\times\left(\frac{8\times21}{10.50} \right )\\&=320\end{aligned}[/tex]
b) The labor productivity is computed as follows:
[tex]\begin{aligned}\text{Labor Productivity}&=\frac{\text{Total Production}}{\text{Labor hours}}\\&=\frac{192,000}{8\times21\times45}\\&=25.4\;\text{per worker hours}\end{aligned}[/tex]
To know more about labor productivity, refer to the link:
https://brainly.com/question/16016669
In each of the following transactions ( a ) through ( c ) for Romney's Marketing Company, use the three step process illustrated in the chapter to record the adjusting entry at year-end December 31, 2015. The process includes (1) determining if revenue was earned or an expense incurred, (2) determining whether cash was received or paid in the past or will be received or paid in the future, and (3) computing the amount of the adjustment.
a. Estimated electricity usage at $450 for December; to be paid in January of next year.
b. On September 1 of the current year, loaned $6,000 to an officer who will repay the loan principal and interest in one year at an annual interest rate of 14 percent.
c. Owed wages to 10 employees who worked four days at $200 each per day at the end of the current year. The company will pay employees at the end of the first week of next year.
Answer:
Romney's Marketing Company
Using the three-step process to record the adjusting entry at year-end December 31, 2015:
a1. Expense was incurred
2. Cash will be paid in the future
3. The amount of the adjustment is $450
b1. Revenue was earned at December 31, 2015
2. Cash will be received in the future.
3. The amount of the adjustment is $280.
c1. Expense was incurred.
2. Cash will be paid in the future.
3. The amount of the adjustment is $8,000.
Explanation:
a) Data and Calculations:
Interest receivable = $280 ($6,000 * 14% * 4/12)
b) The three-step process for recording the adjusting entry at year-end:
(1) determining if revenue was earned or an expense incurred.
(2) determining whether cash was received or paid in the past or will be received or paid in the future.
(3) computing the amount of the adjustment.
Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits$75per hourAnnual labor hours 6,350hoursAnnual materials purchase$1,206,250 Materials purchasing, handling, and storage$241,250 Overhead for depreciation, taxes, insurance, etc.$670,000 Target profit margin for both labor and materials 25% What should Shale set as the materials markup per dollar of materials used
Answer:
45%
Explanation:
Annual material purchase $1,206,250
Material purchasing, handling and storage cart $241,250
Material purchasing, handling and storage % on 20%
material purchase ($241,250/$1,206,250*10)
Target profit margin 25%
Material markup per dollar of material used 45%
Inflation, nominal interest rates, and real rates. From 1991 to 2000, the U.S. economy had an annual inflation rate of around %. The historical annual nominal risk-free rate for this same period was around %. Using the approximate nominal interest rate equation and the true nominal interest rate equation, compute the real interest rate for that decade. What is the estimated real interest rate using the approximate nominal interest rate equation for that decade?
Answer:
the question is incomplete:
nominal interest rate = 5.07%
real interest rate = ?
inflation rate = 3.45%
approximate real interest rate = 5.07% - 3.45% = 1.62%
real interest rate = [(1 + 5.07%) / (1 + 3.45%)] - 1
real interest rate = (1.0507/1.0345) - 1 = 1.57%
Who is the Father of accounting
Answer:
Luca Pacioli
Luca Pacioli, was a Franciscan friar born in Borgo San Sepolcro in what is now Northern Italy in 1446 or 1447.
2) Company issues
to invites its members to subscribe for its
Deposit scheme. (Advertisement, Circular, Newspapers)
Answer:
Advertisement.
Explanation:
An advertisement can be defined as a strategic process or technique which is typically used to bring an announcement, information or notice to the general public.
This ultimately implies that, an advertisement is a means of communication through the use of mediums such as newspapers, blogs, magazines, television, radio, flyers, pamphlets, etc., to bring a specific information or announcement to the general public.
Generally, advertisements are considered to be a form of promoting an idea, product and services.
Hence, company issues advertisement to invites its members to subscribe for its Deposit scheme.
The wireless phone manufacturing division of a consumer electronics company uses activity-based costing. For simplicity, assume that its accountants have identified only the following three activities and related cost drivers for indirect production costs: Activity Cost Driver Materials handling Direct-materials cost Engineering Engineering change notices Power Kilowatt hours Three types of cell phones are produced: Senior, Basic, and Deluxe. Direct costs and cost-driver activity for each product for a recent month are as follows: Senior Basic Deluxe Direct-materials cost $25,000 $ 60,000 $135,000 Direct-labor cost $14,546 $ 3,762 $ 6,772 Kilowatt hours 230,000 220,000 100,000 Engineering change notices 21 20 69 Indirect production costs for the month were as follows: Materials handling $ 15,400 Engineering 99,000 Power 11,000 Total indirect production cost $125,400 1. Compute the indirect production costs allocated to each product with the ABC system. 2. Suppose all indirect production costs had been allocated to products in proportion to their direct labor costs. Compute the indirect production costs allocated to each product. 3. In which product costs, those in requirement 1 or those in requirement 2, do you have the most confidence
Answer:
1. The indirect production costs allocated to each product with the ABC system:
Senior Basic Deluxe Total
Total indirect production cost $25,250 $26,600 $73,550 $125,400
2. The indirect production costs allocated to each product with direct labor costs:
Senior Basic Deluxe Total
Total indirect production cost $72,730 $18,810 $33,860 $125,400
3. I repose much more confidence in the product costs according to requirement 1.
Explanation:
a) Data and Calculations:
Activity Cost Driver
Materials handling
Direct-materials cost
Engineering Engineering
Senior Basic Deluxe Total
Direct-materials cost $25,000 $ 60,000 $135,000 $220,000
Direct-labor cost $14,546 $ 3,762 $ 6,772 $25,080
Kilowatt hours 230,000 220,000 100,000 550,000
Engineering change notices 21 20 69 110
Indirect production costs:
Materials handling $ 15,400 $15,400/$220,000 = $0.07
Engineering 99,000 $99,000/110 = $900
Power 11,000 $11,000/550,000 = $0.02
Total indirect production cost $125,400
Overhead Senior Basic Deluxe
Rates
Materials handling $0.07 $1,750 $4,200 $9,450
Engineering $900 18,900 18,000 62,100
Power $0.02 4,600 4,400 2,000
Total indirect production cost $25,250 $26,600 $73,550
Allocation based on direct labor costs:
Predetermined rate = $5 per direct labor cost.
Senior Basic Deluxe Total
Total indirect production cost $72,730 $18,810 $33,860 $125,400
Imagine that after completing your economics course (you get an A, of course) you are at a family gathering. Your grandmother asks you about a news story she read this morning. The story explained that when the government adjusts Social Security payments for inflation, it generally uses the CPI-W, which is the Consumer Price Index for Urban Wage Earners and Clerical Workers. Because senior citizens spend a lot more than average on medical care, adjustments to their Social Security payments are not keeping up with their cost of living.
Last year I received $15,000 per year from the government. The story said that the CPI increased from 144 to 162. How much will I get this year?
Answer:
$16,875
Explanation:
The amount received per year is $15,000 and the CPI increased from 144 to 162
Inflation rate = (New CPI - Old CPI)/Old CPI * 100
Inflation rate = 162-144/144 * 100
Inflation rate = 0.125
Inflation rate = 12.5%
Amount received = $15,000 * 12.5% = $1,875
==> $15,000 + $1,875 = $16,875
So, Grandmother will receive $16,875
On January 1, 2015, Lake Co. purchased a machine for $1,056,000 and calculated depreciation using the straight-line method, with an estimated useful life of eight years, and no salvage value. On January 1, 2018, Lake determined that the machine had a useful life of six years from the date of acquisition, and a salvage value of $96,000. An accounting change was made in 2018 to reflect these data. The accumulated depreciation for this machine should have a balance at December 31, 2018, of ________. Group of answer choices
Answer:
$584,000
Explanation:
The computation of the accumulated depreciation is shown below:
But before that following calculations need to be determined
Depreciation for 3 years = $1,056,000 ÷ 8 years × 3 years
= $396,000
Now the written down value is
= $1,056,000 - $396,000 - $96,000
= $564,000
For one year it would be
= $564,000 ÷ 3
= $188,000
Now the accumulated depreciation is
= $396,000 + $188,000
= $584,000
During January 2018, the first month of operations, a consulting firm had following transactions:
1. Issued common stock to owners in exchange for $48,000 cash.
2. Purchased $12,000 of equipment, paying $2,400 cash and signing a promissory note for $9,600.
3. Received $21,600 in cash for consulting services performed in January.
4. Purchased $3,600 of supplies on account; all of the supplies were used in January
5. Provided consulting services on account in the amount of $38,400.
6. Paid $1,800 on account.
7. Paid $7,200 to employees for work performed during January.
8. Received a bill for utilities for January of $8,150; the bill remains unpaid.
What is the total expenses that will be reported on the income statement for the month ended January 31?
a. $18,950.
b. $10,800.
c. $9,000.
d. $19,550.
Answer:
d. $19,550.
Explanation:
supplies expense = $3,600
utilities expense = $8,150
wages expense = $7,200
total expenses = $18,950
money paid for accounts payable is not considered an expense since the debt results from purchasing equipment. Depreciation of the equipment is an expense but wasn't specified in the question.
Problem 4-54 (LO. 4, 5) Linda and Don are married and file a joint return. In 2020, they received $12,000 in Social Security benefits and $35,000 in taxable pension benefits and interest. The applicable higher/lower bases for Social Security computations for married filing jointly are $32,000 and $44,000. a. Compute the couple's adjusted gross income on a joint return. $fill in the blank 7fe2a4f7afc4f82_1 b. Don would like to know whether they should sell for $100,000 (at no gain or loss) a corporate bond that pays 8% in interest each year and use the proceeds to buy a $100,000 nontaxable State of Virginia bond that will pay $6,000 in interest each year. Assume that their marginal tax rate is 12%. Although the interest received on the state bond is , it still is in modified adjusted gross income, impacting the taxability of the Social Security benefit. Their AGI would be $fill in the blank c572caf67feefd0_3 . c. In the preceding situation part (a), if Linda works part-time and earns $30,000, by how much would Linda and Don's adjusted gross income increase
Answer:
The answer to this question can be defined as follows:
Explanation:
For point a:
Chargeable advantages to social welfare:
[tex]=0.5(\$35000+0.5(\$12000)-\$32000)\\\\ =0.5(9000)\\\\=\$4500[/tex]
Pension benefits etc $35 thousand
Total AGI= [tex]\$39,500[/tex]
For point b:
Additional revenue [tex](\$3,500-\$8,000) = \$27,000[/tex]
Taxable [tex]SSB0.5(27000+\$6000+0.5\times 12000-\$32000)=\$3500[/tex]
AGI = [tex]\$30,500[/tex]
Less: AGI in (a) [tex](\$39,500)[/tex]
Decrease [tex](\$9000)[/tex]
Tax payers' financial income has been down by [tex]\$2000[/tex], but taxable AGI is down by $9,000. The reduction of [tex]\$650(\$2000-\$9000\times 15 \%)[/tex] with a [tex]15\%[/tex]MTR after the tax income.
For point c:
The least of follows [tex]1). \ \ 0.85( \$65000+0.5 \times 12000-\$44000) = \$22950[/tex]
Smaller than that one
Calculated amount with the first formula
Less:
[tex]0.5\times 12000 = \$6000\\\\0.5(\$65000+0.5 \times 12000-\$32000)= \$19500 \ \ or \ \ \$6000\\\\\$22950 +\$6000 = \$28950 \\\\2.0.85 \times 12000 = \$10200[/tex]
That is why Linda and Don have [tex]85\%[/tex]of their gross income from the SSB [tex]\$10200[/tex].
The benefits of social security [tex]\$10200[/tex]
Additional revenues [tex]=\$35000+\$30000 \ \ (addl.inc)= \$ 65000[/tex]
AGI [tex]\$75,200[/tex]
Less (a) AGI ([tex]\$39,500[/tex])
Increases [tex]\$ 35,700[/tex]
AGI growth exceeds earnings increases because more SSB is taxed.
Government-wide statements report on assets and liabilities that are denied recognition on funds statements. Entrepreneurs Consultants, a state agency, was estab- lished to provide consulting services to small businesses. It maintains only a single general fund and accounts for its activities on a modified accrual basis. During its first month of operations, the association engaged in, or was affected by, the following transactions and events:
1. It received an unassigned grant of $100,000.
2. It purchased five computers at $2,000 each.
3. It paid wages and salaries of $6,000.
4. Itborrowed$24,000fromabanktoenableittopurchase an automobile. It gave the bank a long-term note.
5. It purchased the automobile for $24,000.
6. It made its first payment on the note—interest of $200.
7. It destroyed one of its computers in an accident. The computer was not insured.
a. Prepare journal entries in the general fund to record each of the transactions or other events.
b. Prepare a balance sheet and a statement of revenues and expenditures for the general fund.
c. Prepareagovernment-widestatementofnetposition (balance sheet) and statement of activities. These should be on a full accrual basis. Assume that the capital assets have a useful life of five years and that no depreciation is to be charged on the computer that was destroyed.
Answer:
1. Cash (Dr.) $100,000
Unassigned grant (Cr.) $100,000
2. Computers (Dr.) $10,000
Cash (Cr.) $10,000
3. Salaries and Wages (Dr.) $6,000
Cash (Cr.) $6,000
4. Cash (Dr.) $24,000
Long term bank loan - Notes payable (Cr.) $24,000
5. Automobile (Dr.) $24,000
Cash (Cr.) $24,000
6. Interest Expense (Dr.) $200
Cash (Cr.) $200
7. no entry
Explanation:
Balance Sheet
Assets:
Cash $90,000
Computer $10,000
Automobile $24,000
Total Assets $124,000
Liabilities:
Notes Payable $24,000
Equity:
Grant Received $100,000
Total Equity and Liability $124,000
The purpose of market research by entrepreneurs is to:
a) Gather data
b) Analyze data
c) Make better decisions
d) None of the above
Submit
Answer:
C Make better decisions
Answer:
the answer is C to make better decisions
When giving feedback, you should get directly to the point.
True
or
False
Answer:
It is completely false
Explanation:
Because you should first tell the reason
1. What is the purpose of a bank statement?
Answer:
to hold money on a account
Explanation:
Bank statements are a great tool to help account holders keep track of their money. They can help account holders track their finances, identify errors, and recognize spending habits.
Develop a scope statement for the project described in this post (Links to an external site.) that contains examples of all the elements. Assume that the big finale (with the first batch of invites) will occur in four weeks. Provide your best estimate of the dates for milestones. Project Scope Checklist:_________. 1. Project Objective 2. Product Scope Description 3. Justification 4. Deliverables 5. Milestones 6. Technical Requirements 7. Limits and exclusions 8. Acceptance Criteria
Answer:
o,o what.....
Explanation:
A pre-concert rehearsal is an example of
Media strategy
Marginal analysis
Quality control
Goodwill
Answer:
Quality control
Explanation:
Six Sigma is a quality business management strategy which helps business organizations to improve the quality of processes, products and services by discovering and eliminating defects, variations or errors. It is a strategic business concept that was developed in 1986 by Motorola.
Under the six sigma approach, any process that doesn't provide customer satisfaction or causes challenges in an organisation's process should be eliminated from the system in order to produce quality products and services. It allows only 3.4 defective features for every million opportunities and as such expects processes to be defect free 99.99966 percent of the time.
Generally, there are two (2) main methods of achieving the six sigma approach;
1. DMAIC: define, measure, analyze, improve and control.
2. DMADV: define, measure, analyze, design and verify.
Hence, a pre-concert rehearsal is an example of quality control because the participants or team members are made to practice their routines so as to master them and prevent mistakes on the day of the concert. Thus, a pre-concert is aimed at getting the best out of a team in order to deliver a quality performance to the audience.
A company has fixed costs of $96,800. Its contribution margin ratio is 44% and the product sells for $61 per unit.
What is the company's break-even point in dollar sales?
$220,000
Explanation:
Calculation for the company's break-even point in dollar sales
Using this formula
Break-Even point in dollars sales= Fixed Costs ÷ Contribution Margin
Let plug in the formula
Break-Even point in dollars sales=$96,800/44%
Break-Even point in dollars sales=$220,000
Therefore the company's break-even point in dollar sales will be $220,000.
3) Tobi owns a perpetuity that will pay $1,500 a year, starting one year from now. He offers to sell you all of the remaining payments after the next 25 payments have been paid. (A) What price should you offer him for payments 26 onward if you desire a rate of return of 8 percent
Answer:
you should pay up to $2,737.84 to Tobi
Explanation:
first, the terminal price of the perpetuity must be determined = annual payment / r = $1,500 / .08 = $18,750
now, the present day value of the future terminal value
present value = future value / (1 + r)ⁿ = $18,750 / (1 + 8%)²⁵ = $2,737.84