an employee earns $6,000 per month working for an employer. the federal insurance contributions act (fica) tax rate for social security is 6.2% of the first $137,700 earned each calendar year and the federal insurance contributions act (fica) tax rate for medicare is 1.45% of all earnings. the current federal unemployment taxes (futa) tax rate is 0.6%, and the state unemployment taxes (suta) tax rate is 5.4%. both unemployment taxes are applied to the first $7,000 of an employee's pay. the employee has $202 in federal income taxes withheld. the employee has voluntary deductions for health insurance of $170 and contributes $85 to a retirement plan each month. what is the amount of net pay for the employee for the month of january? (round your intermediate calculations to two decimal places.) multiple choice $4,760.00 $5,036.00 $5,171.00 $5,084.00 $4,712.00
Answers
The best option for the employee's net pay is $4,754.60.
What distinguishes net pay from gross pay?At the point when a task is publicized, the compensation offered is generally recorded as the gross compensation. This, which does not include any short- or long-term incentives or benefits, is sometimes referred to as your base salary. After taxes and other deductions have been deducted from your gross pay, the remaining money is your net pay.
5600 less in gross pay: Total deductions 845.40 Net pay for the employee 4754.60 =5600-845.40 $4,754.60 is the correct choice. Deductions from Social Security tax 347.20 =5600*6.2% Medicare tax 81.20 =5600*1.45% Federal income taxes 186.00 Health insurance 154.00 Retirement plan 77.00 Total deductions 845.40
Net pay is the amount that employees actually take home from their jobs following all payroll deductions, whereas gross pay is the amount that employees earn before taxes and other withholdings. For instance, an employee's net pay would be $6,300 if they earned $8,000 per month gross and deducted $1,700 for taxes and benefits.
Learn more about employee's net pay here:
https://brainly.com/question/4356180
#SPJ1
Related Questions
__________ _________ compare alternatives using branching technque based on known quantitative data, explicit knowledge and object facts to make a decision.
Answers
The assertion is untrue. Because the decision-making process typically does not consider qualitative aspects, management decisions are mostly dependent on quantitative data.
managerial choices Making involves choosing a plan of action after weighing many choices in order to carry out a company enterprise's objectives. decision-making Problem-solving, planning, budgeting, staffing, training, organizing, and managing are all part of management decisions .
In contrast to the control selection problem, which asks what the decision-maker wants to do, the advertising and marketing studies dilemma asks what information is desired and how it might be best received. Research is to provide the data necessary for a reliable judgment.
Making decisions making is possibly the most important aspect of a manager's duties. It is the most important factor in the planning process. even though management choices, decide on a variety of issues, including what goals their company will pursue, what resources they'll use, and who will carry out each necessary task.
Learn more about management hear :
https://brainly.com/question/28196221
#SPJ4
another effect of binding price ceilings is the emergence of a black market. the price of the good in the black market can be found using a supply and demand diagram. first find the black-market price in the short run for this market. then find the black-market price in the long run for this market. what happens to the black-market price between the short run and the long run?
Answers
A price ceiling is the legal maximum price that can be charged for any product. A binding price ceiling is below the equilibrium price and causes a shortage.
This shortage leads to the emergence of the black market. In the black market, the price is higher than the equilibrium price.In long run, both demand and supply become more elastic. As a result, the black market price decreases. However, it is still above the equilibrium. PBsr is a black market price in the short run. PBlr is a black market price in long run.Black cash is the proceeds of an illegal transaction, on which earnings and other taxes have no longer been paid, and that could simplest be legitimized with the aid of a few forms of money laundering. due to the clandestine nature of the black economy, it isn't viable to determine its length and scope.
A black marketplace, underground economic system, or shadow financial system is a clandestine marketplace or series of transactions that has some aspect of illegality or is characterized with the aid of noncompliance with an institutional set of rules. If the guideline defines the set of products and offerings whose production and distribution are unlawful by way of law, non-compliance with the guideline constitutes a black marketplace exchange for the reason that transaction itself is illegal.
Parties enticing in the manufacturing or distribution of prohibited goods and offerings are contributors to the illegal financial system[clarification needed]. Examples consist of illegal drug alternatives, prostitution (which is prohibited), illegal forex transactions, and human trafficking. Violations of the tax code related to earnings tax evasion represent membership in the unreported financial system
To learn more about the black market visit here:
brainly.com/question/9056002
#SPJ4
When a president issues an executive order, he is exercising a(n)... Group of answer choices expressed power. formal power. implied power. delegated power.
Answers
When a president issues an executive order, he is exercising an implied power. When a president issues an executive order, they are exercising an implied power.
Implied powers refer to those powers that are not explicitly stated in the Constitution but are derived from its language and the nature of the office. The power to issue executive orders is not specifically mentioned in the Constitution but is implied from the president's role as the head of the executive branch and the chief executive of the United States.
Executive orders allow presidents to direct and manage the operations of the federal government, implement policies, and interpret existing laws. While the Constitution does not explicitly grant the power to issue executive orders, it is understood to be within the president's authority to carry out their responsibilities effectively. Therefore, issuing executive orders falls under the category of implied powers.
Learn more about executive branch here:
brainly.com/question/30047637
#SPJ11
A company can pay for its expansion in all the following ways except:
A. by using the earnings generated from its sale of obsolete equipment.
B. by persuading the director's mother to make a personal loan to the company.
C. by purchasing bonds in the secondary market.
D. by selling stock certificates for a new subsidiary.
Answers
A company can pay for its expansion in several ways, including using its earnings generated from the sale of obsolete equipment, obtaining loans from banks or other financial institutions, issuing bonds, and selling stock certificates for a new subsidiary. The correct answer is c.
However, one option that is not viable for funding expansion is purchasing bonds in the secondary market. The secondary market is where previously issued securities, such as bonds, are bought and sold among investors, and the proceeds from these sales go to the original bondholders, not the issuing company.
Therefore, the company cannot use this method to raise funds for its expansion. It is important for companies to have a detailed plan for funding their expansion, taking into account all available options and their feasibility. This ensures that the company has the necessary resources to pursue growth opportunities and achieve its strategic goals.
To know more about Financial Institutions visit:
https://brainly.com/question/31825294
#SPJ11
Using C++, please code the following and provide proof it compiles appropriately. The investment company of Pickum \& Loozem has been recording the trading price of a particular stock over a 15-day period. Write a program that reads these prices and stores them in a sequential container and then sorts them into increasing order. The program should find and display a. The trading range (the lowest and the highest prices recorded). b. A sequence that shows how much the price rose or fell each day. Please use STL containers and STL algorithms whenever you can. Please include comments that explain what is going on at every function. Please initialize variables. Please avoid global variables Please do not hard code the length of an array instead of using a symbolic constant Please do not have multiple returns or redundant variables Please do not continue search after target is found Please do not use a break to terminate a loop Please do not manually adjust the loop control variable.
Answers
The provided C++ code reads and sorts trading prices, calculates the trading range (lowest and highest prices), and displays the daily price changes using STL containers and algorithms.
Certainly! Here's an example C++ code that fulfills your requirements:
#include <iostream>
#include <vector>
#include <algorithm>
// Function to calculate and display trading range (lowest and highest prices)
void calculateTradingRange(const std::vector<double>& prices) {
double lowestPrice = *std::min_element(prices.begin(), prices.end());
double highestPrice = *std::max_element(prices.begin(), prices.end());
std::cout << "Trading Range:\n";
std::cout << "Lowest Price: $" << lowestPrice << "\n";
std::cout << "Highest Price: $" << highestPrice << "\n";
}
// Function to calculate and display price changes each day
void calculatePriceChanges(const std::vector<double>& prices) {
std::cout << "Price Changes:\n";
std::cout << "Day 1: N/A\n"; // No price change on the first day
for (size_t i = 1; i < prices.size(); i++) {
double priceChange = prices[i] - prices[i - 1];
std::cout << "Day " << i + 1 << ": $" << priceChange << "\n";
}
}
int main() {
// Initialize the vector to store the trading prices
std::vector<double> prices = { 45.5, 47.2, 46.8, 44.6, 43.9, 45.7, 42.1, 42.8, 43.5, 44.9, 46.3, 45.1, 44.6, 46.7, 47.2 };
// Sort the prices in increasing order
std::sort(prices.begin(), prices.end());
// Call functions to calculate and display the results
calculateTradingRange(prices);
calculatePriceChanges(prices);
return 0;
}
This code uses a std::vector<double> to store the trading prices, and it utilizes the std::min_element and std::max_element algorithms from the STL to find the lowest and highest prices. It also calculates and displays the price changes each day by iterating over the vector.
To compile and run this code, you can save it in a .cpp file (e.g., stock_prices.cpp) and use a C++ compiler. For example, if you have g++ installed, you can compile it using the following command:
g++ -o stock_prices stock_prices.cpp
This will generate an executable file named stock_prices. You can then run it using:
./stock_prices
The program will display the trading range and price changes based on the provided trading prices.
To know more about C++ code:
https://brainly.com/question/17544466
#SPJ4
costs that will differ between alternatives and influence the outcome of a decision are question 24 options: 1) sunk costs. 2) unavoidable costs. 3) relevant costs. 4) product costs.
Answers
The costs that will differ between alternatives and influence the outcome of a decision are relevant costs. Relevant costs are the costs that are directly related to the decision being made and will differ between alternatives.
It is important to consider these costs when making a decision because they will have an impact on the overall outcome. On the other hand, sunk costs are costs that have already been incurred and cannot be recovered, and thus should not be considered in the decision-making process. For example, if a company is considering investing in a new product line, the costs of materials, labor, and overhead that will be incurred only if the product is produced are relevant costs, while the costs of research and development that have already been spent are sunk costs.
It is also important to consider loaded costs, which include both direct and indirect costs, such as overhead, and can provide a more accurate picture of the true cost of a product or service. In summary, relevant costs are the key costs that differ between alternatives and directly influence the outcome of a decision, while sunk costs, unavoidable costs, and product costs may not necessarily have the same impact on decision-making. Hence, (3) Relevant costs are costs that will differ between alternatives and directly influence the outcome of a decision. These costs play a crucial role in the decision-making process because they help determine which alternative is more beneficial or profitable.
Learn more about relevant costs here:
https://brainly.com/question/30884639
#SPJ11
A US based company is attempting to merge with a French National conglomerate. With IFRS and GAAP being so different, what would be some of the challenges the two sides may face with the merger from an accounting standpoint?
Answers
The merger between a US-based company and a French National conglomerate can pose several challenges from an accounting standpoint due to the differences between International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP). Some of the challenges they may face include:
Accounting Principles: IFRS and GAAP have different underlying principles and concepts. IFRS is principles-based, emphasizing substance over form, while GAAP is rules-based, providing specific guidelines for various transactions. The differences in accounting principles can lead to variations in the recognition, measurement, and presentation of financial information.
Financial Statement Presentation: IFRS and GAAP have different requirements for financial statement presentation. The formats and classifications of items on the balance sheet, income statement, and cash flow statement may vary between the two sets of standards. This can make the comparison and consolidation of financial statements challenging.
Revenue Recognition: IFRS and GAAP have differing guidance on revenue recognition, particularly in areas such as the timing of revenue recognition, multiple-element arrangements, and percentage-of-completion method for long-term contracts. Aligning the revenue recognition policies of the merging entities can be a complex task.
Valuation of Assets and Liabilities: IFRS and GAAP may have different rules for the valuation of assets and liabilities, such as inventory, property, plant, and equipment, intangible assets, and financial instruments. Differences in valuation methodologies can impact the reported values of assets and liabilities, which can have implications for financial ratios, financial performance, and tax implications.
Business Combinations and Goodwill: IFRS and GAAP have different requirements for accounting for business combinations and the subsequent treatment of goodwill. For example, IFRS allows for the option of measuring goodwill at cost or using the impairment model, while GAAP follows a more strict impairment-only model. This can result in differences in the recognition and measurement of goodwill and the related impact on financial statements.
Disclosures: IFRS and GAAP have varying disclosure requirements, with differences in the level of detail and specific disclosures mandated for certain transactions and events. Harmonizing the disclosure requirements can be a complex task to ensure compliance with both sets of standards.
These are just a few examples of the challenges that may arise during the merger process from an accounting standpoint. It is crucial for the merging entities to have a thorough understanding of the differences between IFRS and GAAP and work closely with accounting professionals and advisors to address these challenges effectively and ensure accurate financial reporting and compliance with relevant regulations.
To know more about GAAP here
https://brainly.com/question/28345482
#SPJ11
Wildhorse Industries manufactures chairs and tables that are in high demand by local office furniture stores. Following is information for each of these products: Chairs Tables Selling price per item. $72.00 $92.00 Variable cost per item 60.00 75.00 Contribution margin per item $12.00 $17.00 Machine hours per item 1.60 1.60 Wildhorse has 976 machine hours available each month. The demand for chairs is 580 units per month and the demand for tables is 360 units per month. If Wildhorse allocates its production capacity between the chairs and tables so that it maximizes the company's contribution margin, what will the total contribution margin be? O $9120 O $13080 O $10370 O $7320
Answers
The total contribution margin, when Wildhorse Industries maximizes production based on contribution margin, would be $6,120.
To maximize the contribution margin, Wildhorse Industries should produce the products that generate the highest contribution margin per machine hour. Both chairs and tables have the same machine hours per item (1.60), so the decision is based on the contribution margin per item.
For chairs, the contribution margin per item is $12.00, while for tables, it is $17.00. As tables have a higher contribution margin per item, Wildhorse Industries should allocate more machine hours to table production.
Considering the demand for chairs (580 units) and tables (360 units) per month, we can calculate the number of machine hours required for each product:
Machine hours for chairs = 580 units × 1.60 hours = 928 hours
Machine hours for tables = 360 units × 1.60 hours = 576 hours
The total machine hours required for both products is 928 hours + 576 hours = 1504 hours. However, since the available machine hours are 976 hours, Wildhorse Industries cannot fulfill the total demand for both products.
To maximize the contribution margin within the available machine hours, Wildhorse should allocate all the available machine hours to table production. Therefore, the total contribution margin would be calculated as follows:
Total contribution margin = (Number of tables produced × Contribution margin per table) = (360 units × $17.00)
Total contribution margin = $6,120
Hence, the total contribution margin, when Wildhorse Industries maximizes production based on contribution margin, would be $6,120.
To learn more about production click here brainly.com/question/32196896
#SPJ11
Imagine you are running a bank and you are deciding how much of your funds to deposit with the Fed. Your alternative to depositing funds with the Fed is to lend them to businesses and individuals. What are you likely to do if the Federal Reserve increases the interest rate that it pays on your deposits with them
Answers
If the Federal Reserve increases the interest rate that it pays on your deposits with them increase reserves at the Fed and reduce loans.
If the Federal Reserve increases the interest rate that it pays on your deposits with them, this means that the amount I deposit with the Fed would earn a higher rate of interest.
The aim of businesses is to make profit. As a result, I would increase the amount I deposit with the Fed in order to earn a higher rate of interest on my deposit and I would reduce the amount of loans I make.
To learn more, please check: https://brainly.com/question/14331161
The worst possible consequence of conflict is ______. a. Stress b. Hurtful words c. Damaged relationships d. Violence Please select the best answer from the choices provided A B C D
Answers
Answer:
Explanation:
Violence
The worst possible consequence of conflict is Violence. Thus the correct option is D.
What is a conflict?Conflicts refer to situations when two individuals involved in a conversation share differences of opinions which causes disagreement between them and creates arguments in order to prove them stronger conflicts raises.
Conflicts can be a foundation for violence, most confrontations have a favorable outcome and do not escalate to violence. When there is a difference of opinion and no resolution is found, it enrages people and leads to violence.
When two parties believe that their objectives are incompatible, conflict develops. The diverse ways senior managers are rewarded within a company frequently lead to contradictory aims.
Therefore, option D is appropriate.
Learn more about conflict, here:
https://brainly.com/question/29456718
#SPJ3
The contract cost for constructing a house in June 2005 was $242,555. The index for that month was 205.2 and the current index is 288.8. What is the estimated cost to build the house today
Answers
The contract cost for constructing a house in June 2005 was $242,555. The index for that month was 205.2 and the current index is 288.8. What is the estimated cost to build the house today $314374.
What is Contract Costing?
Contract costing is used to keep track of expenses associated with a certain contract with a customer. For instance, when a company submits a bid for a major construction project, the business and the potential client engage in a contract describing the parameters of a particular kind of reimbursement for the business.
How do you calculate contract cost?
To determine TCV, multiply the monthly recurring revenue (MRR) by the number of months left in the contract's term, and then add any other one-time costs specified in the agreement.
Total Contract Value = Monthly Recurring Revenue (MRR) x Contract Term Length + Any One-time Fees.
Learn more about contract :https://brainly.com/question/2669219
#SPJ4
As an HR strategic partners, it is important that we hire for specific skills that fit the position. We should analyze pay in accordance with finance to see what monies are available for a particular position and how to we compensate properly in the beginning for experience, skills, and wisdom. What would your conversation look like with the C-Suite staff to ensure everyone is onboard with the compensation structure and how money could be saved?
Answers
The conversation with the C-Suite staff regarding the compensation structure and cost-saving measures would focus on aligning hiring decisions with specific skills, analyzing pay in accordance with available finances, and ensuring proper compensation for experience, skills, and wisdom.
In the conversation with the C-Suite staff, I would emphasize the importance of hiring for specific skills that align with the position requirements. By focusing on skill-based hiring, we can ensure that we have the right talent in place to drive the organization's success.
I would then discuss the need to analyze pay in accordance with the organization's financial resources. This would involve understanding the budget available for each position and finding the balance between attracting top talent and managing costs effectively.
To gain their support and ensure everyone is onboard, I would emphasize the importance of properly compensating employees based on their experience, skills, and wisdom. By rewarding employees fairly from the beginning, we can attract and retain top talent while fostering a culture of fairness and motivation.
Additionally, I would highlight the potential cost-saving opportunities in the compensation structure, such as exploring alternative benefits or performance-based incentives, to optimize resource allocation and maximize the return on investment.
Learn more about cost-saving here:
https://brainly.com/question/31276411
#SPJ11
An art restorer, after attending art school for a number of years, secured a job restoring the paintings for an art museum. After several years on the job, the artist discovered that he could imitate the artwork of nearly any artist. He decided that he could make some extra money copying the artwork of up-and-coming artists, while staying away from more well-known artists to reduce his chance of getting caught. An art collector searching for a painting by a new artist saw the restorer at an art fair selling various paintings, one of which appeared to be by the new artist. The restorer was selling the painting for $100. The collector thought that the price was very low and that the painting should probably sell for around $500, but she bought the painting anyway, giving the restorer $100 after the restorer confirmed that the painting was an original from the new artist. After taking it to an art appraiser for insurance purposes, she discovered that the painting was a forgery. However, she also discovered that the painting's frame was worth about $125. With which theft offense may the art restorer be charged
Answers
Answer: False pretenses.
Explanation:
The art restorer ma be charged with false pretenses. An individual will be charged with take pretense when the person makes an intentional statement so that he or she can defraud a victim.
In this case, through false pretense, the art restorer defrauded the art collector of $100 since the painting was forgery. The art restorer obtained title to another person's property in this case through false pretense is as to defraud the art collector.
How do consumers influence the decisions of producers?
By setting prices for goods and services
Through following procedures set by the government
By working to produce goods and services
Through the purchasing decisions they make
Answers
Answer:
Through the purchasing decisions they make
Explanation:
An example might be that a producer would stop producing an item if very few consumers buy it.
The sides of a triangle measure 4, 6, and 7. If the shortest side of a similar triangle is 12, what is the perimeter of the larger triangle?
Answers
Answer:
51
Explanation:
12 divided by 4 is 3 so we'll multiply all of the smaller triangle by 3.
4 x 3 = 12
6 x 3 = 18
7 x 3 = 21
12 + 18 + 21 = 51
How would you summarize this specific course section that you have just completed? imagine you are describing it to someone and want to encourage them to take it. business foundation
Answers
You acquire information, abilities, and experience that will benefit you in both your work and general life.
What does it mean that you as a student should be aware of the course's relevance?
All students need to comprehend why a course's material important, regardless of whether they are merely studying it to fulfill a requirement or because they find it intriguing. This influences their comprehension of how this course links to other knowledge and abilities, as well as their motivation.
What factors do you consider when choosing the best course for you?
The first step in deciding which course to take is to identify your interests and hobbies, but you also need to consider what you have to offer. You must consider whether or not your abilities and expertise are relevant to the program you want to pursue before making your decision.
Learn more about course here:
https://brainly.com/question/25962668
#SPJ4
how long do you have to be unemployed to get unemployment?
Answers
Answer:
There is no fixed period. After u completed your studies, u dont have a job then u are 'unemployed'.4. What are some of the things that could happen on the job that would cause me to resign?
Answers
Answer:
Some of the things that could happen on the job that would cause you to resign are:
A toxic work environment. If you are constantly feeling stressed, anxious, or unhappy at work, it may be time to resign. A toxic work environment can have a negative impact on your physical and mental health, and it can make it difficult to be productive.A lack of opportunities for growth. If you feel like you are not learning or growing in your current role, you may be ready to move on. A lack of opportunities for growth can lead to boredom, frustration, and a feeling of stagnation.Unrealistic expectations. If your employer is constantly setting unrealistic expectations, it can be very difficult to meet them. This can lead to stress, anxiety, and burnout.A lack of support from your manager. If you feel like your manager is not supportive of you or your work, it can be very difficult to be successful in your role. A lack of support can make it difficult to ask for help when you need it, and it can make you feel like you are not valued.A change in the company culture. If the company culture changes in a way that you do not agree with, it may be time to resign. A change in company culture can make it difficult to fit in, and it can make you feel like you are no longer a good fit for the company.A personal reason. Sometimes, you may need to resign from your job for a personal reason, such as a family emergency or a health issue. If you are facing a personal crisis, it is important to put your own needs first.Bailey enjoys working with her hands. She wants to choose a career path that would allow her to create things. Which career would be best for
her?
O A. zoologist
O B. greenhouse nursery worker
O C. energy auditor
O D.
civil engineer
• E. jeweler and metal worker
Answers
Answer:
Jewerly and metal worker.
Explanation:
If you want to create thing with your hands and allowing her to create things a jewlery worker and a metal worker is the best for making stuff out of your imagination.
What stacked column chart?
Answers
A stacked chart is a type of bar graph that displays the composition and contrast of a few variables across time, either relative or absolute. These charts, which are also known as stacked bar or column diagrams.
Stacked chart is a bar graph that displays the composition and contrast of a few variables across time, either relative or absolute. These charts, which are also known as stacked bar or column diagrams, have the appearance of several columns or bars layered on top of one another. When utilized properly, stacked charts are a very powerful comparison tool. They are made to compare overall values across many categories.
A small number of applications exist for stacked charts. There are just a handful of situations when they are suitable because to their constraints, but when these conditions are satisfied, they can be an effective tool and presentation style.
Learn more about stacked bar here
https://brainly.com/question/16815826
#SPJ4
What two factors influence an economic school of thought?(1 point)
Answers
Answer:
Free-market, or laissez-faire, economics and Keynesian theory.
Explanation:
The economic school of thought can largely be influenced by prevailing societal values and the historical context in which the theory is developed.
There are many factors that might influence an economic school of thought, but the two key elements are often prevailing societal values and historical context. Prevailing societal values can drastically influence an economic philosophy.
Furthermore, the historical context in which an economic thought emerges is crucial. Economists develop their theories in response to the economic challenges and realities of their time. The Great Depression deeply influenced Keynesian economics, and the stagflation of the 1970s prompted a shift towards monetarism.
Learn more about the Economic School of Thought here:
brainly.com/question/4537767
#SPJ2
Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
Read more on jobs here: https://brainly.com/question/26355886
#SPJ1
Can an offer can be assigned?
Answers
Answer:
yes
Explanation:
In January of Year 1. Walnut Company received a payment in the amount of $24,000 for services to be provided evenly over four years. At the end of Year 1. Walnut recorded revenue of $6,000. Walnut's tax rate is 20%. What is the amount of the deferred tax asset that Walnut will report on the Year 1 balance sheet?
a.$4.800
b. $6,000
c. $18.000
d.$3,600
e.$1,200
Answers
the amount of the deferred tax asset that Walnut will report on the Year 1 balance sheet is $3,600.Option
(d) is correct. $3,600.
Given:
Walnut Company received a payment in the amount of $24,000 for services to be provided evenly over four years.
At the end of Year 1.
Walnut recorded revenue of $6,000.
Walnut's tax rate is 20%.Formula:
Deferred Tax Asset = Tax Rate x (Receivables)Calculation:
The amount of revenue earned in Year 1 is $6,000.
The amount of revenue to be recognized each year is 15000 ( 24000/4 ).
So, at the end of year 1, there was an unearned revenue of $18,000 ($24,000 – $6,000) which will be recognized in the following three years.
Tax rate is 20%.
Therefore,Deferred Tax Asset = 0.20 x 18,000 = $3,600So,
the amount of the deferred tax asset that Walnut will report on the Year 1 balance sheet is $3,600.Option
(d) is correct. $3,600.
learn more about deferred tax asset on :
https://brainly.com/question/29993010
#SPJ11
Duracell, a company well-known for manufacturing alkaline batteries, derives its strategic position from which source
Answers
Duracell is able to derive its strategic position from Few competitors, broad market.
Why is Duracell popular?
Duracell is popular because they have a great strategic position. This position comes from the fact that they have few competitors in a market that serves a very broad base.
As a result, they are able to sell to a lot of entities which makes them very successful.
Find out more on strategic positioning at https://brainly.com/question/24851851.
prepare journal entries to record each of the merchandising transactions assuming that the company records purchases using the gross method and a periodic inventory system.
Nov. 5 Purchased 600 units of product at a cost of $10 per unit. Terms of the sale are 2/10, n/60; the invoice is dated November 5.
7 Returned 25 defective units from the November 5 purchase and received full credit.
15 Paid the amount due from the November 5 purchase, minus the return on November 7.
Prepare journal entries to record each of the merchandising transactions assuming that the company records purchases using the gross method and a periodic inventory system.
Answers
November 5: Inventory (debit) $6,000, Accounts payable (credit) $6,000 ; November 7: Accounts payable (debit) $250, Inventory (credit) $250 ; November 15: Accounts payable (debit) $5,750. Inventory (credit) $250, Cash (credit) $5,600.
To record each of the merchandising transactions assuming that the company records purchases using the gross method and a periodic inventory system, we need to create the necessary journal entries.
November 5:
The company purchased 600 units of product at a cost of $10 per unit, for a total cost of $6,000. The terms of the sale are 2/10, n/60, which means that the company can take a 2% discount if they pay within 10 days. The journal entry to record this purchase is:
Inventory (debit) $6,000
Accounts payable (credit) $6,000
November 7:
The company returned 25 defective units from the November 5 purchase and received full credit. The cost of the returned units is $250 (25 units x $10 per unit). The journal entry to record this return is:
Accounts payable (debit) $250
Inventory (credit) $250
November 15:
The company paid the amount due from the November 5 purchase, minus the return on November 7. The company is taking advantage of the 2% discount by paying within 10 days. The journal entry to record this payment is:
Accounts payable (debit) $5,750
Inventory (credit) $250
Cash (credit) $5,600
In a periodic inventory system, the cost of goods sold is calculated at the end of the accounting period by subtracting the cost of ending inventory from the cost of goods available for sale. Therefore, the cost of goods sold for these transactions is not recorded in the journal entries.
In summary, the journal entries to record each of the merchandising transactions assuming that the company records purchases using the gross method and a periodic inventory system are:
November 5:
Inventory (debit) $6,000
Accounts payable (credit) $6,000
November 7:
Accounts payable (debit) $250
Inventory (credit) $250
November 15:
Accounts payable (debit) $5,750
Inventory (credit) $250
Cash (credit) $5,600
To know more about Inventory, refer
https://brainly.com/question/30130529
#SPJ11
Death benefit proceeds from a life insurance policy are included in a decedent's gross estate in which of the following circumstances:
The decedent gave the policy to his father four years ago, but retained the right to change the name of the beneficiary.
The policy beneficiary is a grantor trust of the decedent but the policy is owned by a closely-held corporation.
The decedent gave the policy to a charity seven years ago.
The decedent transferred the policy to an irrevocable life insurance trust five years ago with no retained incidents of ownership.
A. 2 and 3.
B. 1 and 2.
C. 3 and 4.
D. 1 and 4.
Answers
Answer:
B. 1 and 2.
Explanation:
Life insurance policy can be defined as a contract between a policyholder and an insurer, in which the insurer agrees to pay an amount of money to a specific beneficiary either upon the death of the insured person (decedent) or after a set period of time.
A decedent refers to a deceased person who is no longer able to control his or her properties (wealth).
Generally, insurance companies across the globe charge millions of their customers (insured) premiums every year. This gives them the privilege of having a pool of cash which can be used to cover the cost of losses and destruction to the asset of a small fraction or percentage of its customers.
This simply means that, since insurance companies collect premium from all of their customers for losses which may or may not occur, so they can easily use this cash to compensate or indemnify for losses incurred by those having high risk.
Death benefit proceeds from a life insurance policy are included in a decedent's gross estate in the following circumstances:
I. The decedent gave the policy to his father four years ago, but retained the right to change the name of the beneficiary.
II. The policy beneficiary is a grantor trust of the decedent but the policy is owned by a closely-held corporation.
If the potential employer is a candle-making company, _____ would be one of the employer’s raw materials.
mold
match
wax
none of the above
Answers
Answer:
wax
Explanation:
Raw materials are the components or ingredients used to manufacture finished goods. They are the unprocessed materials that go through the production process or refining to give a consumable product.
Wax is the main raw material in the production of candles. A company involved in making candles need a source of wax to stay in business.
4. based on the results of the cost behavior analysis, which would best characterize the production costing for thrustmaster?
Answers
based on general principles of cost behavior analysis, the characterization of production costing for Thrust master would depend on the cost behavior patterns identified in their analysis.
Cost behavior refers to how costs change in relation to changes in activity level or production volume.
There are four common types of cost behavior patterns:
1- Fixed costs: Costs that remain constant in total regardless of the level of production volume. These costs do not change with changes in activity level.
2- Variable costs: Costs that change in proportion to changes in activity level or production volume. These costs increase when production volume increases and decrease when production volume decreases.
3- Semi-variable costs: Costs that have both fixed and variable components. These costs have a fixed portion that remains constant and a variable portion that changes with changes in activity level.
4- Mixed costs: Costs that have elements of both fixed and variable costs. These costs have a fixed portion that remains constant and a variable portion that changes with changes in activity level, but the relationship may not be strictly proportional.
The characterization of Thrust master's production costing would depend on the cost behavior patterns identified in their cost behavior analysis.
Learn more about “ cost behavior analysis, “ visit here;
https://brainly.com/question/28931725
#SPJ4
What is the GDP growth rate?
What is GDP per capita growth rate?
What is the productivity growth rate?
Help ASAP. The assignment's due tonight
Answers
The GDP growth rate, also known as economic growth rate, is measure of the change in country's gross domestic product (GDP) over a specific period of time, usually year or quarter.
What is economic growth?Economic growth refers to the increase in the production and consumption of goods and services in an economy over a specific period. This growth can be measured by changes in gross domestic product (GDP), which is the total value of all goods and services produced within a country's borders. Economic growth is generally seen as a positive development, as it creates jobs, increases income and improves living standards for people. However, it can also have negative consequences such as environmental degradation, inequality and inflation. Governments and central banks often try to promote economic growth through various policies, such as fiscal stimulus, monetary policy and investments in infrastructure and education.
To learn more about economic growth, visit:
https://brainly.com/question/29795694
#SPJ1