Answer:
True?
Explanation:
I hope this was right!
Answer: i’m pretty sure it’s true.
Explanation:
a change in the way they act towards you is an example.
Han and Leia Solo have been married for 24 years and have three children who qualify as their dependents (Jacen, 4; Jaina, 14; and Ben, 16). The couple received salary income of $354,600. They sold some stock they had owned for 4 years and had an $8,000 gain on the sale. They also received $3,000 of corporate bond interest and $6,400 of interest from Jabba City bonds. The Soloâs also cashed in a Certificate of Deposit early during the year and paid a $950 penalty on the early withdrawal. Additionally, Han (who teaches middle school) spent $875 on supplies and snacks for his classroom. The Solos accumulated $30,920 of itemized deductions and they had $31,550 withheld from their paychecks for federal income taxes.
a. gross income
b. deductions for AGI
c. adjusted gross income
d. standard deduction
e. itemized deductions
f. taxable income
g. tax liability
Required:
Use the table below to show what you did and did not include in Gross Income, Deductions and/or other items and your explanation. Feel free to add additional rows as necessary.
Item amount explanation
Other part of question attached
Answer and Explanation:
Answer and explanation attached
A couple draw a plan of saving for their vacation in Europe. They save $200 at the end of each month for three years. If the cost of vacation is going to be ($9,384.44), and the interest rate is 11% compounded annually, would the couple have enough to cover their vacation at the end of the third year? 15. What must their annuity (A) be in order to make it to their vacation if the interest rate is 15% compounded semiannually. 16. What must their annuity (A) be in order to make it to their vacation if the interest rate is 13.75% compounded quarterly. 17. What must their annuity (A) be in order to make it to their vacation if the interest rate is 11.5% compounded monthly. 18. What must their annuity (A) be in order to make it to their vacation if the interest rate is 8.25% compounded weekly.
Answer:
Results are below.
Explanation:
Giving the following information:
Monthly saving= $200
Future value= $9,384.44
Number of years= 3
a) To calculate the Future Value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {2,400*[(1.11^3) - 1]} / 0.11
FV= $8,021.04
b) To calculate the semiannual deposit, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= semiannual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
i= 0.15/2= 0.075
n= 3*2= 6
A= (9,384.44*0.075) / [(1.075^6) - 1]
A= $1,295.47
c) i= 0.1375/4= 0.0344
n= 3*4= 12
A= (FV*i)/{[(1+i)^n]-1}
A= quarterly deposit
A= (9,384.44*0.0344) / [(1.0344^12) - 1]
A= $644.89
d) i= 0.115/12= 0.0096
n= 3*12= 36
A= (FV*i)/{[(1+i)^n]-1}
A= monthly deposit
A= (9,384.44*0.0096) / [(1.0096^36) - 1]
A= $219.46
e) i=0.0825/52= 0.0016
n= 3*52= 156
A= (FV*i)/{[(1+i)^n]-1}
A= weekly deposit
A= (9,384.44*0.0016) / [(1.0016^156) - 1]
A= $53.01
After reading the article, select the statements that are correct. Choose one or more: A. The cost-of-living adjustment for 2020 is more than what it was in 2019. B. The former program trustee argues that the current inflation measure overcompensates seniors since it ignores the substitution effect. C. According to advocates for seniors, the 2020 COLA is not enough to compensate for rising healthcare costs. D. Elizabeth Warren has proposed using a new inflation measure that outpaces the current one used. E. Next year, the average monthly Social Security payment will be almost $1,800.
Answer:
B. The former program trustee argues that the current inflation measure overcompensates seniors since it ignores the substitution effect.C. According to advocates for seniors, the 2020 COLA is not enough to compensate for rising healthcare costs. D. Elizabeth Warren has proposed using a new inflation measure that outpaces the current one used.Explanation:
The article is, ''Social Security checks to rise modestly amid push to expand benefits '' by Associated Press.
Blahous is a former program trustee who believes that the current inflation adjustment rate at which Social security is increasing is overcompensating seniors because it does not take into account that seniors could be switching to buying cheaper products which is the Substitution effect.
Advocates and the seniors themselves have complained that the 2020 COLA is not enough to meet their current needs especially given the rising cost of healthcare.
Elizabeth Warren and Bernie Sanders both proposed using a new measure for inflation that will adequately compensate the seniors because it outpaces the current one used.
Which of the following statements is true concerning clusters? According to Porter, clusters provide barriers to the access of employees, suppliers, and specialized information. Employees from competitive firms in a cluster are not permitted to socialize with one another. Clusters are geographically dispersed companies operating within the same industry. The United States does not have any clusters; they are all located in Europe. The desire to build or upgrade a core competency is one reason why entrepreneurial and other fast-growing firms often tend to locate close to their competitors.
Answer: The desire to build or upgrade a core competency is one reason why entrepreneurial and other fast-growing firms often tend to locate close to their competitors.
Explanation:
A cluster is the concentration of industries, businesses, or suppliers, that are interrelated in a particular field.
According to Porter, clusters bring about increase the productivity, stimulate new business, drives innovation and they're vital to strategic management.
Of the options given, the answer is "The desire to build or upgrade a core competency is one reason why entrepreneurial and other fast-growing firms often tend to locate close to their competitors".
Eastern Motors Auto Dealership wanted to estimate the average CLV over a 5 year time horizon of a customer who purchases a new vehicle. The average vehicle sells for $25,500 and has a margin of 9%. Based on historical averages, 81% of people buying a new vehicle at Eastern will return for service 8 times over the next 5 years. Though it varies considerably, Eastern generates approximately $122 in margin on each service visit after accounting for parts and direct labor costs. What would be the value of a service loyalty program that increased the average number of visits by 2 (over 5 years) and increased the probability that a new vehicle purchaser would return for service by 5 percentage points (e.g. from 75% to 80%) on a per customer basis
Answer:
the average profit from selling a car = $25,500 x 9% = $2,295
the average profit from providing 1 service = $122
customer lifetime value = (Annual profit per customer x customer relationship in years) - customer acquisition cost
the current CLV = $2,295 + ($122 x 8 x 81%) = $3,085.56
if you are able to increase the probability of using the company's maintenance services by 5% (from 815 to 86%), then the new CLV = $2,295 + ($122 x 8 x 86%) = $3,134.36
the difference = $3,134.36 - $3,085.56 = $48.80
Theoretically, you can spend up to $48.80 in the service loyalty program. But this analysis is incomplete, since providing a good service should also increase the possibility of selling a new car to the same customer after 5 years. This should extend the customer relationship for many years. E.g. that has been a major factor in the success of Honda and Toyota.
Identify and discuss two or three ways in which poor application of HR strategies (see exhibit "Consequences of Career Planning" in the Content section) would create negative employee consequences.
Answer:
Poor recruiting would lead to a poor staff, that is not competent enough to carry out the daily activities of the organization.
Poor economic compensation leads to unmotivated employees who are likely to seek other job opportunities at the first chance. Poorly-compensated employees could also be a factor that keeps competent prospects from seeking the company.
Finally, poor in-job-training can lead to poor performance, even from otherwise competent employees. This is because even if a employee has very good skills and experience, each job is different, and has specific demands, and for this reason, in-job training is always necessary.
Kirby Frigo has opened a dog grooming business. Frigo, like other small business owners, probably will experience:
Answer:
They may have trouble with customers and advertising. In order for people to find out about his business he should consider posting onn social media, making signs,buying ads in the newspaper, put up flyers, go to a park and tell everybody about the dog grooming business. Others may also think the prices are to high or maybe his prices are to low and he is not making a lot of money and a lot of people go to him for dog grooming but maybe he needs help.
Explanation:
Kirby Frigo has opened a dog grooming business. Frigo, like other small business owners, probably will experience market competition.
What is the market competition?The competition in the market is initiated for the purpose of getting a larger share in terms of higher sales and revenue. It means in an industry similar or unrelated businesses may compete with each for reap higher profits against rivals.
Therefore, every business in the market has to fight competition when they are selling homogeneous as well as substitute products.
more about the market competition here:
https://brainly.com/question/20378077
Exercise 5-8 Equivalent Units; Cost per Equivalent Unit; Assigning Costs to Units-Weighted-Average Method [LO5-2, LO5-3, LO5-4] Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow: Percent Complete Units Materials Conversion Work in process inventory, May 1 70,000 100 % 40 % Work in process inventory, May 31 50,000 100 % 25 % Materials cost in work in process inventory, May 1 $ 56,100 Conversion cost in work in process inventory, May 1 $ 16,400 Units started into production 255,000 Units transferred to the next production department 275,000 Materials cost added during May $ 112,900 Conversion cost added during May $ 236,600 Required: 1. Calculate the first production department's equivalent units of production for materials and conversion for May. 2. Compute the first production department's cost per equivalent unit for materials and conversion for May. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.
Answer:
1. Calculate the first production department's equivalent units of production for materials and conversion for May.
materials = 275,000 + 50,000 = 325,000conversion = 275,000 + 12,500 = 287,5002. Compute the first production department's cost per equivalent unit for materials and conversion for May.
materials = $169,000 / 325,000 = $0.52conversion = $253,000 / 287,500 = $0.883. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.
materials = 50,000 x $0.52 = $26,000conversion = 12,500 x $0.88 = $11,000total = $37,0004. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.
materials = 275,000 x $0.52 = $143,000conversion = 275,000 x $0.88 = $242,000total = $385,000Explanation:
Beginning WIP 70,000 units
materials $56,100
conversion $16,400
Ending WIP 50,000 units
100% completed for materials (50,000 EU)
25% completed for conversion (12,500 EU)
units started 255,000
total units transferred out 275,000
materials cost added during the period = $112,900
conversion cost added during the period = $236,600
Tammi’s Truck Stop sells Seat-o-Nails cushions, which are specially designed to keep drivers awake on the road. Her accessories supplier makes deliveries every Tuesday, at which times she can get as many cushions as she wants (the supplier’s truck carries a large number of cushions). The cushions cost $40 wholesale, and Tammi sells them for $65. She also uses a 35 percent interest rate to evaluate the cost of holding inventory. Today it is Tuesday, Tammi has 12 cushions in stock, and the supplier has just arrived. Assuming that the weekly demand is normally distributed with mean 35 and standard deviation 10, answer the questions below. (hint: use newsvendor model)How many cushions should Tammi buy if sales are lost when she runs out of stock during the week?Reconsider part (a) if unmet demand is not lost but it is back ordered, and it costs Tammi $12 to mail the cushion to the customer.
Answer:
Explanation:
(a) The cost of underage(Cu) will be the opportunity cost for lost sales which will be:
= 65 - 40
= 25
The cost of overage(Co) will be the holding cost which will be:
= 40 x 35%/52
= 40 × 0.35/52
= 40 × 0.0067308
= 0.269
The Critical ratio will be:
= Cu/(Cu + Co)
= 25/(0.269+25)
= 0.9894
For the optimal condition,
F(z) = Critical ratio = 0.9894,
therefore, z = normsinv (0.9894) = 2.30
Therefore, the optimal stock will be calculated as:
= Mean demand + (z × Stdev)
= 35 + (2.30 × 10)
= 35 + 23
= 58 units.
We should note that Tammi already has 12 cushions in stock, therefore the order quantity will be:
= 58 - 12
= 46 units
(b) Cu = 12
Co = 0.269
Critical ratio will be:
= Cu/(Co + Cu)
= 12 / (12 + 0.269)
= 0.9781
Therefore, z = normsinv(0.9781) = 2.0
Then, the optimal stock will be:
= 35 + (2.0 × 10)
= 35+20
= 55 units
We should note that Tammi already has 12 cushions in stock, therefore the order quantity will be:
= 55 - 12
= 43 units
why does the federal reserve choose to increase the money supply?
To control the supply of money to help stabilize the economy
Explanation:
An increase in the supply of money works both through lowering interest rates, which spurs investment, and through putting more money in the hands of consumers, making them feel wealthier, and this stimulates spending.
In the current year, Azure Company has $350,000 of net operating income before deducting any compensation or other payment to its sole owner, Sasha. In addition, Azure has interest on municipal bonds of $25,000. Sasha has significant income from other sources and is in the 37% marginal tax bracket.Based on this information, determine the income tax consequences to Azure Company and to Sasha during the year for each of the following independent situations. (Ignore the deduction for qualified business income and the 3.8% Medicare surtax on net investment income.)The rates on qualified dividends are 0%, 15% and 20%.If an amount is zero, enter "0".
Answer:
the question is incomplete:
a. Azure is a C corporation and pays no dividends or salary to Sasha.
Azure Company, as a C corporation, has taxable income of $350,000 and corporate income tax of $73,500 (21% of net income). Sasha has taxable income of $0 from Azure.
b. Azure is a C corporation and distributes $75,000 of dividends to Sasha.
Azure Company has taxable income of $350,000 and corporate income tax of $73,500 (21% of net income). Sasha incurs income tax of $15,000 (20% tax rate) with respect to the dividends.
c. Azure is a C corporation and pays $75,000 of salary to Sasha. (Ignore payroll taxes.)
The salary paid to Sasha is deductible by Azure Company resulting in taxable income of $275,000 and corporate income tax of $57,750 (21% of net income). Sasha incurs income tax of $27,750 (37% marginal tax rate) with respect to the salary she received during the year.
d. Azure is a sole proprietorship, and Sasha withdraws $0. (Ignore self-employment taxes.)
There is no Federal income tax applicable to businesses formed as sole proprietorships. Sasha incurs income tax of $129,500 (37% of $350,000) with respect to Azure Company.
e. Azure is a sole proprietorship, and Sasha withdraws $75,000. (Ignore self-employment taxes.)
There is no Federal income tax applicable to businesses formed as sole proprietorships. Sasha will pay tax on the income of Azure Company, regardless of the amount she withdraws. Applicable taxes are the same a in (d).
Ryan Terlecki organized a new Internet company, CapUniverse, Inc. The company specializes in baseball-type caps with logos printed on them. Ryan, who is never without a cap, believes that his target market is college and high school students. You have been hired to record the transactions occurring in the first month of operations.
a. Issued 2,300 shares of $0.01 par value common stock to investors for cash at $23 per share.
b. Borrowed $61,000 from the bank to provide additional funding to begin operations; the note is due in two years.
c. Paid $2,200 cash for rent of a warehouse: $1,100 for the current month’s rent and another $1,100 for next month’s rent.
d. Paid $2,160 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense).
e. Purchased furniture and fixtures for the warehouse for $20,000, paying $3,100 cash and the rest on account.The amount is due within 30 days.
f. Purchased for $3,800 cash The University of Pennsylvania, Notre Dame, The University of Texas at Austin, The Ohio State University, and Michigan State University baseball caps as inventory to sell online.
g. Placed advertisements on Google for a total of $330 cash; the ads were run immediately.
h. Sold caps totaling $1,900, half of which was charged on account.
i. The cost of the caps sold was $1,100. (Hint: Make two entries.)
j. Made full payment for the furniture and fixtures purchased on account in (e).
k. Received $210 from a customer on account.
Required:
For each of the transactions, prepare journal entries. Be sure to categorize each account as an asset (A), liability (L). stockholders' equity (SE). revenue (R), or expense (E). Note that transaction(h). will require two entries, one for revenue and one for the related expense.
Answer:
a. Issued 2,300 shares of $0.01 par value common stock to investors for cash at $23 per share.
Dr Cash (A) 52,900
Cr Common stock (SE) 23
Cr Additional paid in capital (SE) 52,877
b. Borrowed $61,000 from the bank to provide additional funding to begin operations; the note is due in two years.
Dr Cash (A) 61,000
Cr Notes payable (L) 61,000
c. Paid $2,200 cash for rent of a warehouse: $1,100 for the current month’s rent and another $1,100 for next month’s rent.
Dr Rent expense (E) 1,100
Dr Prepaid rent (A) 1,100
Cr Cash (A) 2,200
d. Paid $2,160 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense).
Dr Prepaid insurance (A) 2,160
Cr Cash (A) 2,160
e. Purchased furniture and fixtures for the warehouse for $20,000, paying $3,100 cash and the rest on account. The amount is due within 30 days.
Dr Furniture and fixtures (A) 20,000
Cr Cash (A) 3,100
Cr Accounts payable (L) 16,900
f. Purchased for $3,800 cash The University of Pennsylvania, Notre Dame, The University of Texas at Austin, The Ohio State University, and Michigan State University baseball caps as inventory to sell online.
Dr Merchandise inventory (A) 3,800
Cr Cash (A) 3,800
g. Placed advertisements on Google for a total of $330 cash; the ads were run immediately.
Dr Advertising expense (E) 330
Cr Cash (A) 330
h. Sold caps totaling $1,900, half of which was charged on account.
i. The cost of the caps sold was $1,100. (Hint: Make two entries.)
Dr Accounts receivable (A) 1,900
Cr Sales revenue (R) 1,900
Dr Cost of goods sold (E) 1,100
Cr Merchandise inventory (A) 1,100
j. Made full payment for the furniture and fixtures purchased on account in (e).
Dr Accounts payable (L) 16,900
Cr Cash (A) 16,900
k. Received $210 from a customer on account.
Dr Cash (A) 210
Cr Accounts receivable (A) 210
in what ways do international organization helps countries economy
Answer:
Hello
Their functions includes maintaining standards to ensure safety, helping developing countries achieve economic security, and establishing norms regarding how countries make trade agreements and resolve conflicts.
Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Materials Conversion Equivalent units in ending work in process inventory 2,160 960 Cost per equivalent unit $ 15.56 $ 5.53 A total of 20,600 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total.
Answer:
(1) $33,696, $5,308.8, $39,004.8
(2) $321,360, $113,918, $435,278
Explanation:
(1) The cost of ending work in process inventory for materials, conversion and in total can be calculated as follows
Materials:
2160 × 15.6
= $33,696
Conversion:
960 × 5.53
= $5,308.8
Total:
$5,308.8 + $33,696
= $39,004.8
(2) The cost of units completed and transferred out for materials, conversion and total can be calculated as follows
Materials:
20,600 × 15.6
= $321,360
Conversion:
20,600 × 5.53
= $113,918
Total:
$20,600 × 21.13
= $435,278
Arona Corporation manufactures canoes in two departments, Fabrication and Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe- shaped aluminum frame. The canoes are then transferred to the Waterproofing department to be coated with sealant. Arona uses a weighted-average process cost system to collect costs in both departments. All materials in the Fabrication Department are added at the beginning of the production process. On July 1, the Fabrication Department had 30 canoes in process that were 20% complete with respect to conversion cost. On July 31, Fabrication had 20 canoes in process that were 40% complete with respect to conversion cost. During July, the Fabrication Department completed 70 canoes and transferred them to the Waterproofing Department. What journal entry should Arona make to record the completion of the production process by the Waterproofing Department?
Answer:
Arona Corporation
Journal Entry:
Debit Finished Goods Inventory $
Credit Work in Process - Waterproofing Department $
To transfer 70 canoes to the finished goods inventory.
Explanation:
Arona Corporation makes this entry to transfer 70 canoes to the finished goods inventory account in order to record the completion of the production process by the Waterproofing Department. The Work in Process of the Waterproofing Department is credited with the value of 70 canoes multiplied by their unit costs. Then the Finished Goods Inventory is debited to record the transfer. These entries show that the Waterproofing Department is not indebted to the organization having completed its assignment.
The marketing manager at a local chain supermarket is testing the effectiveness of four advertising strategies (Factor A) on sales, and runs the advertising over a two-week period. It is suspected that sales also differs by store locations because of differing customer traffic; therefore, the stores were blocked on location (Factor B). The manager wants to understand how sales depends upon advertising strategy and location using a two-way ANOVA without interaction. The sales (in $1000s), along with column, row, and overall means, are displayed below. How many degrees of freedom are there for factors A and B, respectively
Answer:
Option B (11) seems to be the correct response.
Explanation:
The given question is incomplete. Please find attachment of the complete query.
As we know, from the given output or outcome
i.e., N = 12
Factor A = 4
Factor B = 3
∴ [tex]4\times 3=12[/tex]
The total degree of freedom will be:
⇒ [tex]N-1[/tex]
⇒ [tex]12-1[/tex]
⇒ [tex]11[/tex]
All other suggestions made were never appropriate for the question issued. So, the right approach is "11."
This isn’t really a question but how was your day & what do you look forward to this year?
(Marking first answer brainlist if only the have a 2-3 sentence)
Answer:
My day was pretty good, I just did schoolwork and had soccer practice. This year Im really looking forward to Christmas because I have a big list and Christmas is just my favorite holiday. But how was your day?
Explanation:
The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First Republic Corporation (FRC). ($ in millions) Debit(Credit) PBO Plan Assets Prior Service Cost Net (Gain)/Loss Pension Expense Cash Net Pension (Liability)/ Asset Beginning balance (820 ) 40 (102 ) Service cost 74 Interest cost 41 Expected return on assets 80 Gain/loss on assets (2 ) Amortization of: Prior service cost (8 ) Net gain/loss 3 Loss on PBO (9 ) Contributions to fund (57 ) Retiree benefits paid (77 ) Ending balance 825 (93 ) What was the net pension asset/liability reported in the balance sheet at the end of the year
Answer: Net Pension liability of $42 million
Explanation:
Net Pension Asset (Liability) = Ending Plan Assets - Ending PBO
Ending PBO = Beginning PBO + Service Cost + Interest cost + Loss on PBO - Retiree benefits paid
= 820 + 74 + 41 + 9 - 77
= $867
Net Pension Assets (Liability) = 825 - 867
= -$42 million
You have just taken over your family’s printing business. It is important to you that the business has a positive impact on your employees and society in general, while limiting any negative impacts. For each example below, identify the impact on society.
1. Increase employment
2. Offer valuable products
3. Environment damage
4. Improve the quality of life
5. Health and safety risks
a. Some of your printing processes utilize chemicals that require press operators to wear masks during production. _____________
b. Because of increased profits in the last 5 years, you have been able to increase staffing levels by 25%. _____________
c. The business is a member of the local Chamber of Commerce and supports local community charities. _____________
d. The business is the only one in town to offer 48-hour turnaround on printing projects. __________
e. The business uses ink that is shipped in bulky, non-recyclable ink containers. ____________
Answer:
a. Some of your printing processes utilize chemicals that require press operators to wear masks during production. Health and safety risks.
Those chemicals present a health and safety risk because a person can get sick if they do not wear the masks.
b. Because of increased profits in the last 5 years, you have been able to increase staffing levels by 25%. Increase employment.
c. The business is a member of the local Chamber of Commerce and supports local community charities. Improve the quality of life
The business supports local charities which shows that it aims to improve the quality of life.
d. The business is the only one in town to offer 48-hour turnaround on printing projects. Offer valuable products
The business is the only one offering this service so it is offering valuable services.
e. The business uses ink that is shipped in bulky, non-recyclable ink containers. Environment damage
Ink is bulky and containers are non-recyclable. This will cause environmental damage.
In 2017, John opened an investment account with Randy Hansen, who held himself out to the public as an investment adviser and securities broker. John contributed $200,000 to the account in 2017. John provided Randy with a power of attorney to use the $200,000 to purchase and sell securities on John’s behalf. John instructed Randy to reinvest any gains and income earned. In 2017, 2018, and 2019, John received statements of the amount of income earned by his account and included these amounts in his gross income for these years. In 2020, it was discovered that Randy’s purported investment advisory and brokerage activity was in fact a fraudulent investment arrangement known as a Ponzi scheme. In reality, John’s account balance was zero, the money having been used by Randy in his scheme.
Required:
Identify the relevant tax issues for John.
Answer:
The relevant tax issues are as follows:
- Is the loss a theft loss or an investment loss?
- Is the loss subject to either the personal loss limits or the limits on itemized deductions?
- How is the amount of the loss determined?
- In which year can the loss be taken?
- Is there a way to receive a tax benefit for the full amount of income recognized in prior years?
The irrelevant tax issue is:
- Did John have other casualty or theft losses within the last five years?
Explanation:
In this scenario John invested and provided Randy with a power of attorney to use $200,000 to purchase and sell securities on his behalf.
The earnings were to be reinvested, but John realised in 2020 that Randy was running a Ponzi scheme and his account was zero.
As John will most likely not be possible a casualty loss may be allowed.
Since the loss happened in 2017 when he invested the theft loss will be deducted in that year.
He will be able to deduct his losses under 165.
Deductions are allowed for losses in a tax year that is not covered by insurance.
Losses that can be claimed are limited to:
- Losses in business or trade
- Losses in transactions for profit
- Losses as a result of theft, fire, storm, or shipwreck.
On January 1, you plan to take a trip around the world upon graduation four years from now. Your grandmother wants to deposit sufficient funds for this trip in an investment account for you. On the basis of a budget, you estimate that the trip currently would cost $15,000. Being the generous and sweet lady she is, your grandmother decided to deposit $3,500 in the fund at the end of each of the next four years, starting on December 31, 2018. The account will earn 6 percent annual interest, which will be added to the account at each year-end.
Required:
How much interest revenue did the fund earn in 2015, 2016, 2017, and 2018?
Answer:
nterest earned for year 1 is zero because the investment made is at the end of the year
Interest earned for year 2 is $210
Interest earned for year 3 is $433
Interest earned for year 4 is $669
Explanation:
We will use the annuity formula to compute the net interest earned for the next 4 years.
Annuity Value = Present Value * Annuity Factor
Here
Annuity factor = [1 - (1 + r)^-n] / r
r is 6%
n is 4 years
The present value is $3500
By putting above values in the equation we have:
Annuity Value = $3500 * [1 - (1 + 6%)^-4] / 6%
= $3500 * 4.374616 = $15,311.156
This is the annuity value of the yearly investment of $3500 for 4 consecutive years.
The interest portion = $15,311.156 - ($3500 * 4) = $1,311.156
Interest earned for year 1 is zero because the investment made is at the end of the year
Interest earned for year 2 = ($3500 * (1.06)) - $3500 = $210
Interest earned for year 3 = ($3500 * (1.06)^2) - $3500) = $433
Interest earned for year 4 = ($3500 * (1.06)^3) - $3500 = $669
Answer:
nterest earned for year 1 is zero because the investment made is at the end of the year
Interest earned for year 2 is $210
Interest earned for year 3 is $433
Interest earned for year 4 is $669
Explanation:
Turco Products uses a job order cost system. The following debits (credits) appeared in Work-in-Process Inventory for September: Description Amount September 1 Balance $ 70,200 For the month Direct materials 421,200 For the month Direct labor 262,600 For the month Factory overhead 315,120 For the month To finished goods ( 832,000 ) Turco applies overhead to production at a predetermined rate of 120 percent based on direct labor cost. Job 9-27, the only job still in process at the end of September, has been charged direct labor of $35,100. Required: What cost amount of direct materials was charged to Job 9-27?
Answer: $159,900
Explanation:
Work in Process balance for the year = 70,200 + 421,200 + 262,600 + 315,120 - 832,000 (finished goods)
= $237,120
This means that Job 9-27 accounts for the total cost of $237,120
The costs to Job 9-27 are;
237,120 = Direct labor + Direct Materials + Factory Overhead
237,120 = 35,100 + Direct materials + (35,100 * 120%)
Direct Materials = 237,120 - 35,100 - (35,100 * 120%)
= $159,900
Condensed financial data are presented below for the Phoenix Corporation: 20X2 20X1 Accounts receivable $ 267,500 $ 230,000 Inventory 312,500 257,500 Total current assets 670,000 565,000 Intangible assets 50,000 60,000 Total assets 825,000 695,000 Current liabilities 252,500 200,000 Long-term liabilities 77,500 75,000 Sales 1,640,000 Cost of goods sold 982,500 Interest expense 10,000 Income tax expense 77,500 Net income 127,500 Cash flow from operations 71,000 Cash flow from investing activities (6,000 ) Cash flow from financing activities (62,500 ) Tax rate 30 % The profit margin used to calculate return on assets for 20X2 is (rounded):
Answer:
7.77%
Explanation:
The profit margin is the quotient between net income and sales
Profit margin = Net income / Sales
Net income = $127,500
Sales = $1,640,000
Net profit margin = 7.77%
The above means that the firm achieves 7.77% net income from every dollar of sales.
Given the information on the Phoenix corporation, the profit margin used to calculate return on assets for 20X2 was 7.78%.
How to calculate returns on assetThe profit margin is calculated by dividing net income by sales.
From the condensed financial data, we know that net income for 20X2 was $127,500 and sales were $1,640,000.
Profit margin = Net income / Sales
= $127,500 / $1,640,000
= 0.0778
Multiply by 100 to express the result as a percentage
Profit margin = 7.78%
Therefore, the profit margin used to calculate return on assets for 20X2 was 7.78%.
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Below you are given calories and protein of 7 whey protein brands
#
Calories
Protein
1
250
25
2
287
23
3
184
28
4
263
28
5
244
28
6
191
28
7
215
30
For these data (the two variables), compute:
a) The mean, median, first quartile and third quartile.
b) Compute the range, interquartile range, variance, standard deviation and coefficient of variation.
c) Compute the z-score;
d) Compute the variance and correlation between the two variables.
e) Ensure that you comment each obtained result.
Answer:
a b e
Explanation:
hope this helps
Jacob is a participant in JJ's defined benefit plan. Jacob is 37 years old and earns $160,000. He has 4 years of service for purposes of the plan and has worked at the firm for 5 years. The plan provides a benefit of 1.5% for each year of participation. The plan has the least generous vesting schedule possible. Almost 70 percent of the accrued benefits are attributable to the fifteen equal owners, who have all been working at the company for decades. If Jacob were to leave today, what percent of his salary (as defined by the plan) could he expect to receive at normal retirement? a. 3.6%. b. 4.8%. c. 6.0%. d. 6.4%.
Answer:
d. 6.4%.
Explanation:
Even though 70% of the benefits are allocated to 15 key employees (and also co-owners), non-key employees must receive a minimum benefit.
This minimum benefit = 2% x the number of years in service (for the purpose of the plan) = 2% x 4 = 8%. But this minimum benefit is reduced depending on the % of vesting which in this case = 4 years /5 years = 0.8.
total benefit = 8% x 0.8 = 6.4%
which of the following is an example of knowledge? Group of answer choices The ability to create a program that provides rewards for dealerships with high levels of customer satisfaction and corrective action plans for dealerships that have low levels of satisfaction. The Web-based application that collects and stores records of customer satisfaction surveys and allows dealerships to view their data. Reports that summarize ratings for a specific dealership including a calculation of the average rating across all survey questions and a calculation of summary statistics for groups of questions that correspond to important dimensions such as dealership staff, satisfaction with product, quality of service and so on. Innovative policies developed by corporate strategists who analyzed the reasons for the sales drop in order to reverse the recent downward trend
Answer:
The correct answer is: The ability to create a program that provides rewards for dealerships with high levels of customer satisfaction and corrective action plans for dealerships that have low levels of satisfaction.
Explanation:
Knowledge management can be understood as the information technology systems existing in a company whose objective is to assist in the organizational decision-making process, that is, it is the knowledge that the entire organization has from its data and information and that can be transformed into knowledge so that there are greater advantages in the company's internal and external management. Some of the advantages arising from knowledge management are: better management practices, cost reduction, faster processes, increased quality, greater competitiveness, greater consumer satisfaction, etc.
You sold short 400 shares of a stock for $60 per share. Your broker’s initial margin requirement is 60%. The broker’s maintenance margin requirement is 35%. You initially want to put up as little capital (money) as possible to support the short sale.
A.) How much capital must you have in your account before you can make the short sale?
B.) If the stock price goes to $70 per share, will you receive a margin call? Show your work to support your answer.
C.) If one year later you covered your short position at $52 per share, what rate of return will you receive on your investment if the company’s stock that you shorted paid total dividends of $0.50 per share during the time you held the stock short? Assume there are no broker transaction charges.
Answer:
A) $14400
B) No margin call will be received because the balance in the margin account is > balance required in the maintenance margin account
C) 23.61%
Explanation:
A) capital that you must have
number of shares short * per share value * margin requirement
= 400 * 60 * 60% = 14400
B) If the share goes up to $70 per share
No margin call will be received because the balance in the margin account is > balance required in the maintenance margin account
First we have to calculate the balance in the margin account
= 14400 - 400*( change in share price)
= 14400 - 400 ( $10 ) = 10400
next we calculate the amount that is supposed to be in the maintenance margin account
= 400 * 70 * 35% = 9800
C ) calculate rate of return
first we calculate the gain on covering = number of shares * ( change in price par share)
= 400 * ( 60 - 52 ) = 3200
next we calculate total dividend received
= $0.5 * 400 = 200
Total gain = 3200 + 200 = $3400
Hence the rate of return
=( total gain / capital )* 100
= ( 3400 / 14400 ) * 100
= 23.61%
Brown's, a local bakery, is worried about increased costs particularly energy. Last year's records can provide a fairly good estimate of the parameters for this year. Wende Brown, the owner, does not believe things have changed much, but she did invest an additional $3,000 for modifications to the bakery's ovens to make them more energy efficient. The modifications were supposed to make the ovens at least 20% more efficient. Brown has asked you to check the energy savings of the new ovens and also to look over other measures of the bakery's productivity to see if the modifications were beneficial. You have the following data to work with:
Last Year Now
Production (dozen) 1,500 1,500
Labor (hours) 340 320
Capital Investment ($) 15,000 18,000
Energy (BTU) 3,200 2,800
Energy productivity increase =_______________
Capital productivity increase=_______________
Labor productivity increase = _______________
Answer: a. 12.5%
b. -16.67%
c. 5.88%
Explanation:
a. Energy Change will be:
(Production x 12)/Energy
Last year : (1500 × 12)/3200
= 5.625loaves/BTU
Now : (1500 × 12)/2800
= 6.42857 loaves/BTU
Percent Change will be:
= [6.42857 - 5.625]/6.42857 × 100
= 12.5%
b. Capital productivity increase will be:
= Production x 12)/Capital investment
Last year : (1500 × 12)/15000
= 1.2loaves/BTU
Now : (1500 × 12)/18000
= 1 loaves/BTU
Percent Change will be:
= (1-1.2)/1.2 × 100
= -16.67%
b. Labor Change:
Last year : (1500 × 12)/340
= 52.94 loaves/labor hour
Now : (1500 × 12)/320
= 56.25 loaves/labor hour
Percent Change:
= (56.25 - 52.94/56.25) × 100
= 5.88%
Energy Productivity Last year is
= Output ÷ Energy
= 15000 ÷ 3000 doz/BTU
= 5 dozen/BTU
Energy Productivity Now
= Output ÷ Energy
= 15000 ÷ 2800
= 5.3571 dozen/BTU
Thus, Increase % = (5.3571-5) ÷ 5 × 100 = 7.14%
Energy Productivity increase is 7.14%
Capital Productivity Last year = Output ÷ Capital
= 15000 ÷ 15000 doz/$
= 1 dozen/$
Capital Productivity Now = Output ÷ Capital
= 15000 ÷ 18000
= 0.8333 dozen/$
Thus, Increase % = (0.8333-1) ÷ 1 × 100
= -16.67%
Capital Productivity increase is -16.67%
Labour Productivity Last year = Output ÷ Labour
= 15000 ÷ 360 doz/hour
= 41.6667 dozen/hr
Labour Productivity Now = Output ÷Labour
= 15000 ÷320
= 46.8750 dozen/hr
Thus, Increase % = (46.8750-41.6667) ÷41.6667*100
= 12.50%
Labour Productivity increase is 12.50%
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Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. The allowance for uncollectible accounts had a credit balance of $30,000 at the beginning of 2021. No previously written-off accounts receivable were reinstated during 2021. At 12/31/2021, gross accounts receivable totaled $500,000, and prior to recording the adjusting entry to recognize bad debts expense for 2021, the allowance for uncollectible accounts had a debit balance of 55,000. Required: 1. What was the balance in gross accounts receivable as of 12/31/2020
Answer:
Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"
1. Gross accounts Receivable = Allowance Account balance at beginning / 10%
= $30,000 / 10%
= $300,000
2. Year Account Title Debit Credit
2021 Bad debt expense $105,000
($500,000*10% + $55,000)
To Allowance for Doubtful Accounts $105,000
3. Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account
= $30,000 - (- $50,000)
= $30,000 + $50,000
= $80,000
4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000
How do consumer expectations affect the demand for a product?
——————————————-
A. By connecting demand for a good to the availability of
complementary goods
B. By increasing the demand for goods expected to become more
expensive later
C. By reducing the supply of a good as demand for the good
increases over time
D. By lowering the good's equilibrium price to better reflect growing
consumer demand
Answer:
B. By increasing the demand for goods expected to become more expensive later
Explanation:
A product's price increase results in both an increase in demand for alternatives to the product and a drop in demand for complementary goods.
What impact do consumer expectations have on a product's demand?Consumer expectations cause people to demand either more or less of a good.
Consumer expectations include things like future pricing, income, and product availability.Demand will increase if expectations rise, and vice versa.The immediate demand will decline if a consumer knows a product will be on sale in a week since they will purchase it then. Consumer demand will grow right away if they anticipate a product's price to rise in the coming week.Learn more about consumer expectations affect the demand for a product here https://brainly.com/question/17910824
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