It is important to give every dollar a name because of zero-based budget. The greatest way to budget is with a zero-based budget since no money is wasted and every dollar has a purpose. if you don‘t have a plan for every dollar you make your money may be wasted and lead to increase in expense and resource misallocation. The zero-based budget intentionally assigns a name to each dollar before the month even starts.
Explain zero-based budget.With zero-based budgeting (ZBB), instead of starting with the prior budget and making adjustments as needed, all expenses must be justified for a new period or year starting from zero. Zero-based budgeting has many benefits as an accounting technique, including targeted operations, decreased expenses, budget flexibility, and strategic execution. Managers become more aware of the top revenue-generating operations when they consider how each dollar is spent. Zero-based budgeting, on the other hand, may minimize resource misallocation that could occur over time when a budget develops incrementally, which could lead to reduced expenses.
To learn more about zero-based budget, refer to:
https://brainly.com/question/15994567
#SPJ4
if a monopolist can find buyers for 4 units at a price of $7, and if the marginal revenue due to the 5th unit is $2, the highest price at which the monopolist can find buyers for 5 units must be a. $2. b. $3. c. $4. d. $5. e. $6.
Maximum price at which the monopolist can find buyers for 5 units is $6, because it is the price per unit beyond which no one will pay. Therefore, the correct option is (e).
Given,
Units = 4
Price per unit = $7
Total revenue = 4*$7 = $28
Marginal revenue from 5th unit = $2
Total revenue = $28+$2 = $30
Price per unit = $30/5 = $6
An individual, entity, or organization that totally monopolizes the market for a specific service or product is known as a monopolist. A monopolist is inclined to support legislation that reinforces monopolies since it offers them more dominance. Due to the lack of rivalry, a monopolist has no incentive to improve their products. Instead, they are driven by a desire to safeguard the monopoly.
Learn more about monopolist here:
https://brainly.com/question/14055453
#SPJ4
when project managers analyze tasks involved in completing a project, estimate time needed for each task, and estimate the minimum time needed to complete the project, they are applying what tool to operations management?
Project managers use PERT for operations management when they examine the tasks involved in finishing a project, estimate the time needed for each work, and determine the minimal time needed to finish the project.
PERT stands for program evaluation and review technique. What do you mean by that?PERT, also known as the Program Evaluation Review Technique, is a visual tool for project planning. The method makes it easier for project planners to determine start and finish dates as well as interim tasks and deadlines.
What is the purpose of the PERT method?A graphical representation of a project's timetable, known as a program evaluation review technique (PERT) chart, lists each individual activity required to complete the project. Because it shows job dependencies, the PERT chart is frequently preferred to the Gantt chart as a project management tool.
Learn more about Program Evaluation Review Technique: https://brainly.com/question/14497794
#SPJ1
what includes all activities related to internal and external business operations such as servicing customer accounts, collaborating with partners, and exchanging real-time information?
E-business includes all activities related to the internal and external operations of a business, such as exchanging real-time information, servicing customer accounts, and collaborating with partners.
E-business OR electronic business refers to any process that a business enterprise conducts over the web. Business enterprises include any governmental, for-profit, or nonprofit entity. E-business synchronizes all the activities of the supply chain to make the business operations more efficient and improve customer experience with reduced cost and faster response.
E-business is not a technology business itself but it is a business of any nature that uses new technologies in order to boost management processes. A few examples of e-business are auction sites, software developer sites, online ticket reservation sites, etc.
You can learn more about e-business at
https://brainly.com/question/13165862
#SPJ4
gloria will be managing a brand-new call center. her employees are all new to the company, and she will be conducting their initial training. what should gloria keep in mind as she prepares this training presentation?
The thing that Gloria should keep in mind as she prepares this training presentation when conducting their initial training is that She should be careful to define specialized terms or concepts.
What is training presentation?The training presentation can be described as the training program that can be used by the company to teach new people about how to carry task that is needed by them in the organization , in the presentation class, different software can be used such as the power point by the Microsoft.
It should be noted that this is the presentation that is been used by Gloria when he was trying to set up her company and to teach the new employees about the process to be followed in caring out their daily activities in the organization.
In conclusion, she should be able to make sure she define specialized terms or concepts so that the employees can have the better understanding of what she is trying to pass across to them during the presentation program.
Read more about presentation at:
https://brainly.com/question/27326303
#SPJ1
international strategy refers to a(n): a. action plan pursued by american companies to compete against foreign companies operating in the united states. b. political and economic action plan developed by businesses and governments to cope with global competition. c. strategy through which the firm sells its goods or services outside its domestic market.
International strategy refers to a political and economic action plan developed by businesses and governments to cope with global competition.
An international strategy is usually the first approach most companies take when expanding globally. That is, exporting or importing goods and services while maintaining a head office or branch in the home country. There is no one-size-fits-all approach to global expansion as a company.
Cross-border strategies are the best, but also the most complex in terms of relationships and communication. Visualizing four different international strategic models helps to understand the relationship between branch offices and headquarters.
Strategy is the action a manager takes to help him achieve one or more organizational goals. Strategy can also be defined as "the general direction along which an organization and its various components will achieve the desired future state". Strategy is born out of a detailed strategic planning process. "
Learn more about International strategy https://brainly.com/question/18597437
#SPJ4
assuming a 360-day year, proceeds of $44,732 were received from discounting a $45,997, 90-day note at a bank. the discount rate used by the bank in computing the proceeds was a.9% b.12% c.13% d.11%
The discount rate used by the bank in computing the proceeds was 9% option A
What is the discount rate?Generally, The interest rate that is levied on commercial banks and other financial institutions by the Federal Reserve Bank for short-term loans that these institutions take out is referred to as the discount rate.
The interest rate that is employed in discounted cash flow analysis (also known as DCF analysis) to assess the present value of future cash flows is referred to as the discount rate.
The interest rate that a central bank applies to loans and advances it makes to commercial banks is referred to as the bank rate or, in American English, the discount rate.
Discount rate, Let's consider A is the bank discount rate
Net proceeds=Total amount of note - Discounting charges
44,732 =45,997 - (45,997 × A×90/360)
44,732 -45,997= - (45,997 × A×90/360)
A=0.099
A=9% Option A
Read more about bank discount rate
https://brainly.com/question/3469862
#SPJ1
whole grain bakery purchases an industrial bread machine for $29,000. in addition to the purchase price, the company makes the following expenditures: freight, $1,900; installation, $3,800; testing, $1,400; and property tax on the machine for the first year, $580. what is the initial cost of the bread machine?
The initial cost of the bread machine for a whole grain bakery is $36680
Purchase price of the machinery = $29000
The total cost of ownership, or TCO, is the overall cost of purchasing a piece of equipment. This cost includes all related expenses. For instance, factors like labour, materials, and parts all have an impact on the final price you'll pay. A machine that is more economical initially but ends up costing more in the long run.
Freight charges = $1900
Installation charges = $3800
Testing charges = $1400
Property tax on the machine for the first year = $580
Total cost of the machinery = Purchase price + Freight charges + Installation charges + Testing charges + Property tax
= 29000 + 1900 + 3800 + 1400 + 580 = $36680
Learn more about total cost of ownership:
https://brainly.com/question/14635532
#SPJ4
suppose you are applying for a mortgage loan. the loan officer tells you that if you get the loan, the bank will keep the house title until you pay back the loan. which problem of asymmetric information is the bank trying to solve?
The bank and other financial institutions mortgage the property to cover the potential default risk in order to be on the safe side and reclaim the loan funds.
While every bank makes efforts in providing house loans. They run the danger of having defaulters because they are lending institutions. Since the financed amount is too high for the banks to lend to any one person, if a customer defaults or becomes an NPA, the bank will lose the money it had given to that specific consumer.So, in order to be on the safe side and to offset the losses associated with failure, the bank has mortgaged the property on which they are providing money. Once the debt is paid off, they do disclose the original property documents.
to learn more about mortgage property, click the links
https://brainly.com/question/28920859
#SPJ4
venus sportswear corporation has preferred stock outstanding that pays a quarterly dividend of $2. it has a price of $100. what is the required rate of return on the preferred stock?
8% is the required rate of return on the preferred stock. Divide next year's fixed dividend payment by the current stock value, and then add the result to the dividend's measured growth.
What is rate of return ?The required rate of return, in general, refers to how much profit a company must have in order to pursue and complete a project or investment. This figure can include anything from machinery costs to the cost of a merger. In addition to risk and the overall health of the market, the required rate of return is calculated.
The required rate of return (RRR) is the minimum return an investor will accept for owning a company's stock in exchange for a certain level of risk. In corporate finance, the RRR is used to assess the profitability of potential investment projects.
The dividend-discount model computes the RRR for equity of a dividend-paying stock using the current stock price, dividend payment per share, and dividend growth rate forecast.
RRR = (Expected dividend payment / Share Price) + Forecasted dividend growth rate
To learn more about rate of return refer :
https://brainly.com/question/6197651
#SPJ4
which of the following statements is false regarding credit risk analysis? a comprehensive credit risk analysis involves evaluating and summarizing the various individual risks associated with a loan. credit risk is not affected by the aggressive application of accounting standards since cash flows are not impacted by financial reporting choices. a simple alternative to credit risk analysis is to rely on credit reports issued by third parties. certain financial statement ratios are very useful in predicting loan default.
Certain financial statement ratios are very useful in predicting loan default is false regarding credit risk analysis.
So, the correct option is D.
Before extending trade credit, you should perform a credit risk analysis to determine the likelihood that a customer will miss a payment. Understanding a customer's history of on-time payments and the ability to do so in the future can help you assess their creditworthiness. Traditional credit analyses follow a precise process that includes three crucial steps: gathering information; carefully examining this information, and making decisions.
Credit analysis assesses the riskiness of debt instruments issued by businesses or other organizations to determine the capacity of the company to fulfill its commitments. With regard to investing in that specific firm, the credit analysis aims to determine the right amount of default risk.
Learn to know more about Credit risk on
https://brainly.com/question/15325559
#SPJ4
g which of the following is not true for a conventional fixed rate mortgage? group of answer choices a. it is fully amortizing. b. by half way through the term of the loan, the principal portion of the monthly payment is greater than the interest portion. c. interest payments early on are much greater than the principal payments. d. monthly payments are fixed.
An interest rate on a "fixed-rate" mortgage is one that won't alter during the course of your mortgage. A mortgage is referred to as "conventional" (conforming) if it complies with established standards for the loan's size and your financial status.
Explain about the conventional fixed rate mortgage?
If you don't have much debt and have a good credit score, a conventional loan is a wonderful choice. By paying 20% of the loan amount up advance, you can eliminate PMI and minimize your monthly mortgage payments. Conventional loans are available with a down payment as low as 3% if you are unable to make a sizable upfront payment.
In an uncertain world, having a conventional loan with a fixed rate gives you peace of mind. Regardless of what the market does in the future or what the present interest rates increase to, you will always know exactly how much your interest rate and subsequent payment will be.
To learn more about conventional fixed rate mortgage refer to:
https://brainly.com/question/1445789
#SPJ4
sarah reports to work and clocks in at 8:00 a.m. each morning and leaves at approximately 4:30 p.m. all of her tools and supplies are supplied by the company where she is working. her supervisor directs and controls the tasks she performs on various projects. sarah is most likely considered a(n)
As Sarah reports to work and clocks in at 8:00 a.m. each morning and leaves at approximately 4:30 p.m she is most likely considered as an employee of the company.
An employee can be described as a person who works for an organization. An employee usually has a fixed working time just like Sarah has.
The supplies that are used for work are given by the company which is also the case for Sarah.
Each employee in an organization works under a supervisor who is answerable to the CEO. Sarah also has a supervisor who directs ad assigns her tasks.
Hence, based on these characteristics, Sarah will be considered as an employee.
To learn more about employee, click here:
https://brainly.com/question/27953070
#SPJ4
darcy is leading the bcp effort for her organization and is currently in the project scope and planning phase. what should she expect will be the major resource consumed by the bcp process during this phase?
Amid the arranging stage, the foremost noteworthy asset utilization will be the time committed by individuals of the BCP group to the arranging handle itself.
What is the scope of BCP commerce progression arrange )?
BCP scope: The hardware, gadgets, supplies and staff who are influenced by the laid out crises, as well as which staff individuals or groups utilize these assets most. BCP spaces: The commerce basic chance zones, or divisions, whose parts and obligations will adjust beneath the trade coherence approach scope.
Commerce Affect Investigation (BIA) The primary step to building your company's BCP is to consider the potential affect of each sort of catastrophe or hazard occasion that your company may confront.
Learn more about BCP here:
https://brainly.com/question/28256435
#SPJ4
which variation of a new-venture team is described as a separate, small, informal, highly autonomous, and often secretive group that focuses on breakthrough ideas for a business?
Internal Innovation is the variation. Internal Innovation specifically covers approaches that focus on the resources, ideologies, processes, and people within a company.
What is Internal Innovation ?Internal innovation is important because it enables businesses to set themselves apart from the competition. Many leading technology companies work with incumbents so as to spread the cost of research and development, attract venture capital and grow.
Internal Innovation refers to approaches that focus on a company's resources, ideologies, processes, and people, which could include harnessing and exploring HR, R&D, company policy, employee engagement, management structures, legal conventions, and more.
Research and development is the most common type of internal process for technology and innovation in organisations. R&D is the search for and development of new technologies, products, and/or processes within a company through creative efforts.
R&D has the disadvantage of being slower and more expensive, and it can be disrupted by the departure of key personnel.
To learn more about Innovation refer :
https://brainly.com/question/27992702
#SPJ4
craigmont company's direct materials costs are $4,700,000, its direct labor costs total $8,530,000, and its factory overhead costs total $6,530,000. its conversion costs total:
Conversion costs total is$ 6,70,0000. conversion costs total is substract Prime cost and overhead costs total is equal.The primary costs associated with running a plant are labor and raw material costs. Because these are the essential components of production, they are referred to be prime.
How to find conversion costs total ?The primary costs associated with running a plant are labor and raw material costs.
Prime cost = material cost + labour cost is equal to
$4,700,000 +$8,530,000 = 13,230,000
conversion costs total is substract Prime cost and overhead costs total is equal.
conversion costs total is Prime cost - overhead costs total is equal
13,230,000 - 6,530,000 = $ 6,70,0000.
Simply summing up all direct labor costs and manufacturing overhead costs yields conversion costs. The labor costs that can be directly linked to a product are known as direct labor costs.
to learn more about conversion costs refer to:
https://brainly.com/question/28180425
#SPJ1
which of the following types of markets is more efficient (greater overall gains from trade): a) a monopolist who does not price discriminate and has to charge a uniform price b) first-degree price discrimination
First-degree price discrimination markets are more efficient.
What is First-degree price discrimination?Price discrimination is categorized into three types: perfect price discrimination, second-degree price discrimination, and third-degree price discrimination. These price discrimination tiers are also known as personalized pricing (first-degree pricing), product versioning or menu pricing (second-degree pricing), and group pricing (third-degree pricing) (3rd-degree pricing).
First-degree discrimination occurs when a company charges the greatest possible price for each unit consumed. Because prices vary among units, the corporation keeps all available consumer surplus or economic excess for itself. Many sectors that provide client services engage in first-degree price discrimination, which occurs when a business charges a different price for each product or service given.
To know more about price discrimination, Click
https://brainly.com/question/15727380
#SPJ4
on january 1, 2020, chamberlain corporation pays $658,000 for a 60 percent ownership in neville. annual excess fair-value amortization of $23,000 results from the acquisition. on december 31, 2021, neville reports revenues of $542,000 and expenses of $367,000 and chamberlain reports revenues of $755,000 and expenses of $403,000. the parent figures contain no income from the subsidiary. what is consolidated net income attributable to chamberlain corporation?
If the parent figures contain no income from the subsidiary. The consolidated net income attributable to chamberlain corporation is $338,200.
Consolidated net incomeNet income for neville
Net income = $542,000 - $367,000
Net income = $175,000
Net income for chamberlain
Net income = $755,000 - $403,000
Net income = $352,000
Now let determine the consolidated net income ( chamberlain corporation)
Consolidated net income = ($175,000 + $352,000 -$23,000) - ($175,000 - $23,000 × (1-.60)
Consolidated net income =( $175,000 + $352,000 -$23,000) - ($175,000 - $23,000 × .40)
Consolidated net income = $504,000 - $165,800
Consolidated net income = $338,200
Therefore the amount of $338,200 was attributed to chamberlain .
Learn more about Consolidated net income here: https://brainly.com/question/20715035
#SPJ1
related diversification strategies are strong when built upon sharing multiple choice competitively valuable resources. generalized resources and capabilities. general management capabilities. human resource management capabilities. resources that have a broad utility and application outside a diversified company's core industry.
Related diversification strategies are strong when built upon sharing competitively valuable resources.
Diversification is a business strategy for entering new markets that include new products or product lines, new services, or entirely different skills, techniques, or knowledge.
A diversification strategy is used when a company wants to grow. This is the practice of introducing new products into the supply chain to increase profits. These products can become new segments of the industry the company is already in, known as business-level diversification.
Related diversification occurs when a company enters a new industry that shares important similarities with an existing industry (Figure 8.1). Film and television are both aspects of entertainment, so Disney's acquisition of ABC is an example of a related diversification.
Learn more about diversification strategies https://brainly.com/question/417234
#SPJ4
according to the tannenbaum and schmidt model of situational leadership, what are the factors managers should consider before deciding how to lead? (choose every correct answer.)
The relationship between a manager's level of power and the degree of flexibility they decide to give their workforce is depicted by the Tannenbaum and Schmidt continuum. As the team's flexibility increases, the manager's authority should decrease.
Robert Tannenbaum and Warren Schmidt, contingency theorists, claimed that leadership behavior varies along a continuum and that the level of follower involvement and participation in decision-making grows as leaders move away from the authoritarian extreme (1958, 1973).
Taylor and Schmidt The manager's amount of power and the degree of flexibility they grant their staff are correlated, as shown by the continuum model.
According to the follower, the situational leadership model tackles four different leadership philosophies: selling, telling, and influencing.
Participating.
Delegating.
To know more about model of situational leadership, click on the link below:
https://brainly.com/question/4511601
#SPJ4
you own a beverage company and have a few different types of beverages on the market. one of the diet sodas isn't doing as well as your other sodas and you want to see what you can do to increase your sales. after conducting some research, you see that 80% of your total potential market (100%) is aware of your product. furthermore, 75% have adequate knowledge about your product and 65% say they like the product. half say they intend to buy the product and 45% of the market actually buy it. what aspect of the hierarchy of effects should be the promotional objective?
The goal of promotional campaigns should be to increase the number of people who plan to purchase.
What are the promotional objectives? What are a few examples of promotional objectives?Promotional Goals are a component of a comprehensive marketing plan. The initial stage of a marketing campaign is developing a brand identity with visuals and phrases. This is followed by expanded messaging sent either directly through personal email marketing communications or through social media.
Making items and services more in demand. A retailer might do this by advertising a sale in order to increase foot traffic.
Why is it vital to have a promotional goal?Advertising and other marketing communications have goals known as promotional objectives. Marketing plan must include market promotion. Today's marketers frequently employ this potent tool to attain their marketing objectives in a cutthroat market.
Learn more about promotional objectives: https://brainly.com/question/17187536
#SPJ4
which of the following is an example of human capital? a. the amount you get paid each week to work at the library b. the things you have learned this semester c. the comfortable chair in your dorm room where you read economics texts d. any capital goods that require a human to be present to operate
The example of human capital is any capital goods that require a human to be present to operate as human being is required for the functioning of the machinery .
What is human capital?
Social scientists use the idea of human capital to refer to character traits that are seen advantageous in the manufacturing process. It includes education, excellent health, knowledge, and skills of the workforce. Earnings of any individual are significantly influenced by human capital.
To learn more about human capital click on the link below:
https://brainly.com/question/10480832
#SPJ4
using an abc system, a company has estimated overhead of $2,100,000. they expect to use 1,000,000 machine hours and 500,000 labor hours. abc has identified this as a machine-hour related activity. the activity rate for this activity is .
This behaviour is tied to machine hours, according to ABC. $21.10 machine per hour is the activity rate for this activity.
= $2,100,000 ÷ 1,000,000
= $21.10 machine per hour
What is Overhead Rate?
The overhead rate, also referred to as the overhead percentage, is the amount your business spends on manufacturing items or providing services to customers.
To calculate the overhead rate, divide the indirect costs by the direct costs and multiply the result by 100. The overhead rate is a cost involved in producing a good or service.
The cost of the corporate headquarters is an example of an overhead expense that isn't directly tied to output. An overhead rate is applied to the direct production-related costs in order to disperse or allocate the overhead costs based on specific indicators.
A cost associated with the production of a good or service is called an overhead rate. Overhead costs are expenses, such as the cost of, that are not directly related to output.
To know more about Overhead Rate visit:
https://brainly.com/question/21438344
#SPJ4
during the coronavirus pandemic, demand for frozen pizza almost doubled without price changes for these products. economists call this multiple choice proportional demand. inelastic demand. a movement along a demand curve. a shift in the demand curve. flexible demand.
During the coronavirus pandemic, demand for frozen pizza almost doubled without price changes for these products. economists call this a shift in the demand curve.
What causes a shift in the demand curve?The demand curve is a linear curve that is used to depict the relationship between the price of a good and the quantity demanded of the good. The demand curve has a negative curve.
When there is a change in the demand of a good as a result of changes other than the price of a good, the demand curve would shift outward or inward. A shift outward would indicates an increase in demand. While a shift inward would indicate a shift to the left.
As a result of the increase in demand for frozen pizza during the Corona virus, the demand curve for pizza would shift to the right.
For more information about the change in demand, please check: https://brainly.com/question/25871620
#SPJ1
if the marginal physical product (mpp) is falling, then the group of answer choices marginal cost of each unit of output is rising. total cost of each unit of output is falling. marginal cost of each unit of output is falling. total cost of each unit of output is rising.
If the marginal physical product (MPP) is falling, then the marginal cost of each unit of output is rising.
The marginal sales product is calculated by multiplying the marginal physical product (MPP) of the aid via the marginal sales (MR) generated. The MRP assumes that the prices on different factors continue to be unchanged and enables determining the most useful level of aid.
The marginal made from capital (MPK) is the additional output resulting, ceteris paribus, from the usage of a further unit of physical capital, including machines or homes utilized by companies.
The maximum retail rate is labeled on every product. It is the very best fee decided via the manufacturers for a specific product before the sale in India. Stores can't rate clients more than MRP. The most retail rate published on a product is along with all taxes.
Learn more about the marginal physical products here https://brainly.com/question/22033475
#SPJ4
the interest cost on the projected benefit obligation is found by multiplying what two amounts? multiple select question. projected benefit obligation at the beginning of the year assumed discount rate average benefit obligation over the course of the year market interest rate
These two sums are multiplied by the projected benefit obligation at the beginning of the year and the expected discount rate to get the cost of interest on the estimated benefit obligation.
An actuarial evaluation of what a corporation would require today to satisfy future pension commitments is called a projected benefit obligation (PBO). The projected benefit obligation (PBO) is updated to reflect anticipated compensation in the upcoming years and is based on the assumption that the plan won't be terminated anytime soon.
The projected benefit obligation covers the anticipated future work that employees are expected to perform, whereas the accumulated benefit obligation represents the current value of a pension liability based on the cumulative labor to date.
The estimated total of a company's pension plan liabilities at any given time is known as the accumulated benefit obligation. ABO is calculated without taking into account potential future wage increases and is based on the premise that the pension plan will be canceled immediately.
To learn more about projected benefit obligation
https://brainly.com/question/17774443
#SPJ4
the tinsley company exchanged land that it had been holding for future plant expansion for a more suitable parcel located farther from residential areas. tinsley carried the land at its original cost of $62,500. according to an independent appraisal, the land currently is worth $150,000. tinsley paid $23,000 in cash to complete the transaction. required: what is the fair value of the new parcel of land received by tinsley assuming the exchange has commercial substance? prepare the journal entry to record the exchange assuming the exchange has commercial substance. prepare the journal entry to record the exchange assuming the exchange lacks commercial substance. prepare the journal entry to record the exchange except that tinsley received $30,000 in the exchange, and the exchange lacks commercial substance.
1. Fair Value of the new land= Fair Value of old land + Cash given
= $150,000 + $23,000
= $173,000
2. Journal Entry for the Transaction-
Dr Land - new $173,000
($150,000 + $23,000)
Cr Cash $23,000
Cr Land - old (book value) $62,000
Cr Gain $88,000
($150,000 - $62,000)
3. Dr Land - new $44,000
($62,500 + $23,000)
Cr Cash $23,000
Land - old (book value)$62,500
what is a Journal Entry?
Journal entry is a process which is done in order to document a business transaction in the accounting records of the company. A journal entry is often made in the general ledger, but it can also be made in a subsidiary ledger and subsequently rolled forward into the general ledger after being summarized. After then, the general ledger is utilized to produce the company's financial statements.
Want to solve similar problems?
https://brainly.com/question/16256736
Know more about Journal Entry-
https://brainly.in/question/1066267
#SPJ4
joey, age 49, who is single, is not covered by another qualified retirement plan and earns $131,000 (agi is $131,000) in 2022. how much can he contribute to a traditional ira in 2022?
Based on the fact that Joey is single and is not covered by another qualified retirement plan, as well as his earnings, the amount he can contribute to a traditional IRA in 2022 is $5, 200.
How to find the amount to contribute?The formula for the amount that a single person can contribute to their traditional IRA according to tax laws in 2022 is:
= Traditional IRA limit for 2022 single fliers x (144, 000 - Annual earnings) / ( 144, 000 - 129, 000)
The Traditional IRA limit for 2022 single fliers is $6, 000.
This means that the amount that Joey can contribute to a traditional IRA in 2022 is:
= 6, 000 x (144, 000 - 131, 000) / (144, 000 - 129, 000)
= $5, 200
Find out more on traditional IRAs at https://brainly.com/question/3606162
#SPJ1
a new truck cost $50,000 with a residual value of $4,000 has an estimated useful life of five years. using the declining-balance method at twice the straight-line rate, the depreciation expense in year 2 is:
Depreciation using the declining-balance method is $10698.496.
It is given that the cost of the truck is $50000 and the residual value is $4000. Also, the useful life is five years.
Depreciation through straight-line method = (Net book value - Residual value) ÷ estimated useful life
= ($50000-$4000) ÷ 5
= $46000 ÷5
= $9200
Depreciation rate through straight-line method = (Depreciation expense ÷ Net book value ) ×100
= (9200÷50000)×100
= 18.4%
It is given that the rate of the declining balance method is twice of straight-line rate, thus, it is 2×18.4%
= 36.8%
Depreciation expense through declining balance = (Net book value - Residual value) × Depreciation Rate
Thus, for first year it is = ($50000-$4000) ×36.8%
=$46000 × 36.8 %
= $16928
For 2nd year, the amount will be on which depreciation is charged =
($50000-$16928)-$4000
=$29072
Thus, depreciation expense for 2nd year = $29072×36.8%
= $10698.496
Depreciation using the declining-balance method is $10698.496.
To know more about depreciation
https://brainly.com/question/16002404
#SPJ1
a company purchased $11,200 of merchandise on june 15 with terms of 3/10, n/45, and fob shipping point. on june 20, it returned $1,760 of that merchandise. the shipping charges for the purchase totaled $1,100. on june 24, it paid the balance owed for the merchandise taking any discount it is entitled to. the cash paid on june 24 equals:
A 3% reduction is granted because the buyer pays the remaining amount within ten days, making the cash payment on June 24 total $10,534 discount.
The term "FOB" (Free On Board) denotes that the seller is responsible for both the expense of loading the goods and for transporting them to the port of export. All costs related to shipping freight, insurance, unloading, and any transportation from the port of arrival to the final destination are the buyer's responsibility. The risk is passed on to the buyer when the goods are loaded at the port of origin.
In accordance with terms of 3/10, n/45, or net 45 days, the seller will give the purchaser an additional 3% discount if the latter settles the balance owing within 10 days of the buy rather than utilizing a 45-day full credit period.
The details provided are:
The total spent was $11,600. (on June 15)
Amount refunded: $2,080 (on June 20)
Cost of shipping: $1,300
On June 24, money is exchanged.
The buyer is entitled to a 3% discount because the payment was made within the allotted 10 days.
Payment in full equals 100%-3%) x ($11,600 - $2,080) + $1,300 = $10,534.4, or almost $10,534.
Learn more about cash payment here:
https://brainly.com/question/28385212
#SPJ4
a construction firm can achieve a $15,000 cost savings in year 1 and increasing by $2,000 each year for the next 5 years by converting their diesel engines to biodiesel fuel. at an interest rate of 15%, what is the present equivalent of the savings?
19194.4 is the present equivalent of the savings for the given question
The equivalent annual worth of the savings will be calculated thus:
Annual cost savings in year 1 = $15000
Increase in annual cost savings = $2000
Project period = 5 years
Interest rate = 15%
Annual worth of savings = A + G(A/G, 15%, 5)
= 15000 + 2000(15,000/2000, 15%, 5)
= 15000 + 2000(7500, 0.15,5)
= 15000 + 2000(2.0972)
= 19194.4
Therefore, the annual worth of savings will be $19194.4
For more information about same structure visit here :
brainly.com/question/22825994
#SPJ4