On June 1, 2021, Cork Oak Corporation purchased a passenger automobile for 100 percent use in its business. The auto, with a cost basis of $22,000, has a 5-year recovery period.. How much depreciation should be taken for 2021, assuming Cork Oak Corporation uses the accelerated depreciation method under MACRS but does not choose to make the election to expense or take bonus depreciation?a.$10,200 b.$18,200 c.$4,400 d.$3,160 e.none of these choices are correct.
Answers
Depreciation should be taken as $4,400 for the year 2021, assuming Cork Oak Corporation uses the accelerated depreciation method under MACRS. So option C is correct.
The accelerated depreciation method for MACRS for a 5-year recovery period is 20% for Year 1, 32% for Year 2, 19.2% for Year 3, 11.52% for Year 4, 11.52% for Year 5, and 5.76% for Year 6. Therefore, the depreciation taken for 2021 would be 20% x $22,000 = $4,400. This assumes that the business did not choose to make the election to expense or to take any bonus depreciation.
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Related Questions
If you are filing your tax return as an individual, you will need to itemize your taxes if
(1 point)
the sum of your deductible contributions is less than $300.
the sum of your deductible contributions exceeds $300.
you don't have any deductible contributions.
you donated to a religious institution.
Answers
If you are filing your tax return as an individual, you will need to itemize your taxes if the sum of your deductible contributions is less than $300.
What does it mean to file a tax return?To file a tax return means to fill in the documents that have to do with the taxes that a person owns to the government authorities responsible for taxes based on the income that they make in the economy and based on their expenditures also.
The person that is filing this has to do so with the authority that is closest to the areas that they are residing.
The tax that is paid to the government can be defined as the money that a person makes from the businesses and the salary that they are paid in the economy.
Hence we can conclude by saying that If you are filing your tax return as an individual, you will need to itemize your taxes if the sum of your deductible contributions is less than $300.
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Answer:
the sum of your deductible contributions exceeds $300.
Explanation:
connexus
Which situation is an example of indirect taxation?
OA. Stores charge sales tax on each purchase and give that money to
the government.
OB. Homeowners must pay a percentage of their home's worth to the
government.
OC. Businesses must send a portion of their income each year to the
government.
OD. Every citizen sends the government money to support the armed
forces.
SUBMIT
Answers
Option A is the correct answer. Indirect taxation is the situation where taxes are imposed on products or services and not directly on individuals. Therefore, the example of indirect taxation in the situation given is when stores charge sales tax on each purchase and give that money to the government.
Stores charge sales tax on each purchase and give that money to the government is an example of indirect taxation.Indirect taxation is a method of taxation in which individuals are not taxed directly, but instead, the tax is paid through an intermediary.
The tax is generally imposed on products or services. This tax, which is passed on to the customer as part of the price of the good or service, is then collected by the seller and forwarded to the government.
Sales tax, excise tax, and customs duty are all examples of indirect taxes.
Therefore, Option A is the correct answer.
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Innovate ways where you can prove the law of action-reaction.
Answers
The ways where you as a person can prove the law of action-reaction are:
When a player pushes the ball forward with force while holding it, the ball pushes back on the player's hand.Student tugs on desk, which tugs back on student (This is how you can "pull" yourself forward.)How can the law of action and reaction be proven?When a person pushes against a wall (action force), the wall pushes back with an equal and opposing force (reaction force). The Space Shuttle lifts (there is no slingshot involved!) because the hot gases push out hot gases (action force) and exert a force on the Space Shuttle engines (reaction force).
Therefore, it can also be shown through Swimming. With the use of the hands, a forward-swimming individual forces the water to move backward. A response force is created as a result of the action force that the individual is exerting.
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(EDGE2020)
New Hampshire’s legislature has declared a busy roundabout a hazard because of the number of semi accidents that occur there. They’ve hired an independent consultant who specializes in traffic flow to make recommendations for improvement. What tasks will this person perform for the state?
A. working with police to study accidents and designing a traffic-improvement plan for the roundabout
B. working with police to step up enforcement after analyzing traffic flow information
C. analyzing traffic flow information and convincing shipping companies to use a different route
D. analyzing traffic flow and designing a traffic-improvement plan for the roundabout
Answers
Answer:
d
Explanation:
This person's duties for the state will include assessing traffic flow and creating a roundabout traffic-improvement plan. As a result, choice (D) is accurate.
What do you know about New Hampshire?The Northeastern United States' state of New Hampshire is located in the New England region. It shares borders with the Canadian provinces of Quebec to the north, Maine and the Gulf of Maine to the east, Massachusetts to the south, Vermont to the west, Maine, and the Gulf of Maine.
New Hampshire is the tenth least populous and fifth least populous of the 50 states in the United States, according to the 2020 census, which had 1,377,529 people as citizens. The state's major city is Manchester, while Concord is the capital. The state of New Hampshire is known for its "Live Free or Die" motto, which refers to its participation in the American Revolutionary War.
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The Notary Signing Agent should NEVER collect a copy or take a photo of the Requestors ID.
Answers
The Notary Signing Agent should NEVER collect a copy or take a photo of the Requestor's ID is a true statement.
What is a Requestors ID?Requestor ID is termed as an identifier utilized that is termed for the vendors to demand network tokens from the card organizations.
A Notary Signing Agent shouldn't snap a picture of an ID to send it to the bank. This is definitely not a safe method for transmission. Since the card-on-record network tokens are shipper explicit, there is higher trust in giving banks and diminished extortion.
The Notary Signing Agent ought to: Suggest that the borrower contact the moneylender's agent prior to marking the reports. . One actually should cautiously survey the End Revelation to ensure that the provisions of one's advance are the thing you are anticipating.
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Which of the following are correct descriptions of large corporations? a) Managers no langer have the incentive to act in their own interests. b) The corporation survives even f managers are dismissed c) Shareholders can sell their holdings without disrupting the business d) Corporations, unlike sole proprietorships, do not pay tax: instead, shareholders are taxed on any dividends they receive.
Answers
Answer:
b) The corporation survives even if managers are dismissed.
c) Shareholders can sell their holdings without disrupting the business.
Explanation:
The above statements are correct descriptions of large corporations if consider;
1. A corporation is viewed as a legal entity, and so is believed to exist (survive) even if those who manage the corporation are dismissed.
2. Put simply, a shareholder holds some owns certain decision rights of a corporation, thus, the shareholder can decide to sell their holdings to an interested party. However, the business would not be disrupted, as only the holdings of a particular shareholder were sold, and the new shareholder would normally want the best interest of the company that's why he made the deal.
Francine owns a bakery. She agrees to deliver a dozen cakes to Amelia for a surprise party. Francine does not deliver the cakes on time
and Amelia takes her to court. In a court case, Amelia is the:
Select one
a. Binding Authority
b. Defendant
c. Plaintiff
d. Persuasive Authority
Answers
Answer:
c. Plaintiff
Explanation:
Plaintiff is the person or business that takes a lawsuit to court. It is the offended party that moves to court with a complaint against another party. In some instances, like in a civil case, the plaintiff is known as the complainant.
In this case, Amalia is the plaintiff. She has a complaint against Francine, who is the defendant. Plaintiff being the aggrieved party initiates the court process to seek legal redress.
3. Find the amount of tax owed: residential property valued at $162,000.00; assessed at 15%; taxed at $12.00 per hundred
dollars worth of property.
Answers
The amount of tax owed for the residential property is $29.16.
How to calculate the amount of tax owed1. Calculating the assessed value of the property by multiplying the property value by the assessment rate (expressed as a decimal):
Assessed value = Property value x Assessment rate
Assessed value = $162,000.00 x 0.15
Assessed value = $24,300.00
2. Calculate the taxable value of the property by dividing the assessed value by 100:
Taxable value = Assessed value / 100
Taxable value = $24,300.00 / 100
Taxable value = $243.00
3. Calculate the amount of tax owed by multiplying the taxable value by the tax rate:
Tax owed = Taxable value x Tax rate
Tax owed = $243.00 x ($12.00 / $100.00)
Tax owed = $29.16
Therefore, the amount of tax owed for the residential property is $29.16.
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The political candidates keep talking to the citizens about the possibility of a recession what would most likely happen if a country experience a recession
Answers
The thing that would MOST likely happen in this case if a country experiences a recession is D.Businesses will suffer from decreased sales and profits, eventually leading to closure
What is recession ?Recession, in economics, can be described as the downward trend in the business cycle.
Itshouldbe nopted that this can be seen as the decline in production and employment, whereby the incomes and spending of households to decline and as a result of thisthere would be hunger sa well as hardship in the country for this cause.
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missig part
What would MOST likely happen if a country experiences a recession?
A.
Feeling confident in the economy, people will begin to spend money more freely.
B.
Jobs will be more plentiful, and companies will be doing a lot of hiring.
C.
Families will start to purchase larger and more expensive homes.
D.
Businesses will suffer from decreased sales and profits, eventually leading to
Part 2 - Drill and Kill- Answer the following questions.
Units produced per hour
Baskets
Rings
Isaac
Sarah
6
5
24
10-
1. Is this an output problem or an input
problem? OUTPUT
2. What is Isaac's opportunity cost of
producing 1 basket?
3. What is Sarah's opportunity cost or
producing 1 ring?
4. What is Isaac's opportunity cost of
producing 1 ring?
5. What is Sarah's opportunity cost of
producing 1 basket?
6. Who has the absolute advantage in
producing baskets?
7. Who has the absolute advantage in
producing rings?
8. Who has the comparative advantage in
producing baskets?
9. Who has the comparative advantage in
producing rings?
10. What would acceptable terms of trade
be between Isaac and Sarah?
Canada
Mexico
Hours to produce one unit
Skyscraper
Space Shuttle
600
800
500
1000
1. Is this an output problem or an input
problem? Out Put
2. What is Canada's opportunity cost of
producing skyscraper?
3. What is Mexico's opportunity cost or
producing 1 space shuttle?
4. What is Canada's opportunity cost of
producing 1 space shuttle?
5. What is Mexico's opportunity cost of
producing 1 skyscraper?
6. Who has the absolute advantage in
producing skyscrapers?
115
7. Who has the absolute advantage in
producing space shuttles?
8. Who has the comparative advantage
in producing space shuttles?
9. Who has the comparative advantage
in producing skyscrapers?
10. What would acceptable terms of
trade be between Canada and
Mexico?
Answers
The responses to each question on opportunity cost are as follows:
This is an output problem.Isaac's opportunity cost of producing 1 basket is 5 rings.Sarah's opportunity cost of producing 1 ring is 0.4 baskets.Isaac's opportunity cost of producing 1 ring is 0.2 baskets.Sarah's opportunity cost of producing 1 basket is 2.5 rings.What are the responses to other questions?The following are responses to the questions on absolute advantage:
6. Isaac has the absolute advantage in producing baskets.
7. Sarah has the absolute advantage in producing rings.
8. Isaac has the comparative advantage in producing baskets.
9. Sarah has the comparative advantage in producing rings.
10. Acceptable terms of trade would depend on the specific negotiation between Isaac and Sarah. However, a possible acceptable term of trade could be exchanging 1 basket for 3 rings.
1. Is this an output problem or an input problem?
- This is an output problem.
2. What is Canada's opportunity cost of producing a skyscraper?
- Canada's opportunity cost of producing a skyscraper is 800 space shuttles.
3. What is Mexico's opportunity cost of producing 1 space shuttle?
- Mexico's opportunity cost of producing 1 space shuttle is 0.625 skyscrapers.
4. What is Canada's opportunity cost of producing 1 space shuttle?
- Canada's opportunity cost of producing 1 space shuttle is 0.75 skyscrapers.
5. What is Mexico's opportunity cost of producing 1 skyscraper?
- Mexico's opportunity cost of producing 1 skyscraper is 1.6 space shuttles.
6. Who has the absolute advantage in producing skyscrapers?
- Canada has the absolute advantage in producing skyscrapers.
7. Who has the absolute advantage in producing space shuttles?
- Mexico has the absolute advantage in producing space shuttles.
8. Who has the comparative advantage in producing space shuttles?
- Mexico has the comparative advantage in producing space shuttles.
9. Who has the comparative advantage in producing skyscrapers?
- Canada has the comparative advantage in producing skyscrapers.
10. What would acceptable terms of trade be between Canada and Mexico?
- Acceptable terms of trade would depend on the specific negotiation between Canada and Mexico. However, a possible acceptable term of trade could be exchanging 1 space shuttle for 2.5 skyscrapers.
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Two factors that can cause a person to change their status from *employed" to "not economically active"
Answers
A person's economic status can move from "employed" to "non-economically active" due to two circumstances.
For men, being out of the labor force due to illness or disability has been the main cause. The main motivation for women has been to take care of a family member.The population that is engaged in the economy includes both employed and unemployed people. The population that is "economically active" is referred to as the labor force or labor supply. Those who were working for pay, profit, or family gain at the time of the census are considered employed.
The labor force is a crucial element of economic expansion: Businesses are able to increase production and employment when more people join the workforce.
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Product: Cheetos Country: Australia
4. Customer Value: What value or benefits will your product or service deliver to the consumers?
5. Profit: What will you charge per individual product or service?
6. Marketing: How will customers learn about your product/service?
7. Customer loyalty: How will you encourage customer loyalty and referrals for new customers?
8. SWOT Analysis:
What are the STRENGTHS of conducting business/marketing your product/service in this country?
b. What are the WEAKNESSES of conducting business/marketing your product/service in this country?
c. What are the OPPORTUNITIES of conducting business/marketing your product/service in this country?
d. What are the THREATS (competition?) of conducting/marketing your product/service in your country?
9. How will you know when you are successful?
10. Describe your expectation of your product/service life cycle in this country. How long before your product/service reaches maturity?
( PLS INCLUDE MORE THAN ONE SENTENCE)
Answers
Cheetos are a popular snack food that delivers a delicious and satisfying taste experience to consumers.
Cheetos are widely available in supermarkets and convenience stores across the country.
4. Customer Value: The product provides a convenient and easy-to-eat snack option for people on-the-go. The bold and cheesy flavor of Cheetos appeals to both children and adults, making it a versatile snack option. Additionally, Cheetos are available in different sizes and packaging options, catering to individual preferences and needs.
5. Profit: The price of Cheetos in Australia will depend on the size and packaging of the product. However, a single serving size of Cheetos (28g) is expected to be priced between AUD 1.50 to AUD 2.50.
6. Marketing: To promote Cheetos in Australia, the product can be advertised on social media platforms. The brand can collaborate with popular influencers and create exciting and engaging content that appeals to the target audience. Additionally, the brand can host sampling events and offer promotions to generate interest and awareness.
7. Customer loyalty: To encourage customer loyalty, the brand can offer loyalty programs that provide incentives and rewards for repeat purchases. The brand can also engage with customers through social media and respond to their queries and feedback promptly. Offering excellent customer service and delivering a consistent product experience can also help generate customer loyalty and referrals.
8. SWOT Analysis: a. Strengths: Cheetos are a popular and recognizable brand globally. The brand has a loyal following and offers a unique and delicious taste experience that appeals to a broad range of customers.
b. Weaknesses: The snack food market in Australia is highly competitive, with many established brands competing for market share. Cheetos may face challenges in establishing a foothold in the market and competing with established brands.
c. Opportunities: Australia has a growing snack food market with a diverse and multicultural population. Cheetos can leverage this opportunity and tailor its marketing and product offerings to appeal to different customer segments.
d. Threats: Competition from established brands and changing consumer preferences and trends pose significant threats to the success of Cheetos in the Australian market.
9.Success Measurement: The success of Cheetos in Australia can be measured by sales figures, market share, and customer feedback. Additionally, the brand can track social media engagement and monitor customer sentiment to evaluate the effectiveness of its marketing campaigns.
10. Product/Service Life Cycle: The life cycle of Cheetos in Australia will depend on various factors, including market trends, competition, and customer preferences. Typically, snack foods have a relatively short product life cycle, and the time to maturity can vary from several months to a few years. However, Cheetos' popularity and brand recognition may help the product reach maturity sooner.
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Anastasia is a principal who is responsible for telling one of her teachers that the school will be cutting her Spanish program in the fall. She has been friends with this teacher for years and knows that the teacher will be very upset. What is the most appropriate communication channel for Anastasia to choose to share this news with the teacher in this scenario?
Question 2 options:
She should send the teacher a formal, typed letter.
She should talk to the teacher face-to-face.
She should send the teacher a text message.
She should post the news on the school website.
Answers
Answer she should talk to her face to face
Explanation:
if she respects this woman that is the best way to keep it
1. Discuss the various system for internal administration for financial organisation.
Answers
Financial organizations implement various internal administration systems like AIS, ERP, budgeting systems, TMS, risk management systems, and DMS to enhance efficiency, accuracy, and control over financial operations.
Financial organizations implement various systems for internal administration to streamline their operations and ensure effective financial management. Here are some key systems commonly utilized:
Accounting Information System (AIS): AIS is a comprehensive software system that enables financial organizations to record, process, and report financial transactions. It helps automate tasks such as general ledger management, accounts payable/receivable, financial reporting, and budgeting.
Enterprise Resource Planning (ERP) System: ERP systems integrate various departments and functions within a financial organization, including finance, human resources, procurement, and customer relationship management. By consolidating data and workflows, ERP enhances efficiency, collaboration, and data accuracy.
Budgeting and Financial Planning System: This system assists in creating and managing budgets, financial forecasts, and strategic planning. It enables organizations to allocate resources, track expenses, monitor performance, and make informed financial decisions.
Treasury Management System (TMS): TMS focuses on optimizing cash and liquidity management, risk management, and investment strategies. It facilitates efficient cash flow management, bank reconciliation, debt management, and compliance with regulatory requirements.
Risk Management System: Financial organizations employ risk management systems to identify, assess, and mitigate various types of risks, such as credit risk, market risk, operational risk, and regulatory compliance.
These systems enable organizations to implement risk mitigation strategies, monitor risk exposures, and maintain regulatory compliance.
Document Management System (DMS): DMS centralizes the storage and retrieval of financial documents, such as contracts, invoices, and financial reports. It ensures document security, version control, and easy access, facilitating efficient document management and audit trails.
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Problem-6; (chapter 3) SS Ltd. obtained significant influence over YY Ltd by buying 30% of Y's 100,000 outstanding ordinary shares at a cost of Br 18 per share on January 1, 2022. On May 15, YY declared and paid a cash dividend of Br 150,000. On December 31, YY reported net income of Br 270,000 for the year. (a) record acquisition of shares (a) record revenue and dividends
Answers
(a) Record acquisition of shares: Investment in YY Ltd. Dr. Br 540,000, Cash Cr. Br 540,000.
(a) Record revenue and dividends: Dividend Receivable Dr. Br 45,000, Revenue from Investment in YY Ltd. Cr. Br 45,000; Investment in YY Ltd. Dr. Br 81,000, Revenue from Investment in YY Ltd. Cr. Br 81,000.
(a) To record the acquisition of shares by SS Ltd. on January 1, 2022:
Investment in YY Ltd. (30% of 100,000 shares * Br 18) Dr. Br 540,000
Cash Cr. Br 540,000
This journal entry records the purchase of 30% of YY Ltd.'s outstanding shares for a total cost of Br 540,000.
(b) To record revenue and dividends for the year:
On May 15, YY Ltd. declared and paid a cash dividend of Br 150,000. This dividend represents the portion of the company's earnings that will be distributed to its shareholders.
Dividend Receivable Dr. Br 45,000 (30% of Br 150,000)
Revenue from Investment in YY Ltd. Cr. Br 45,000
This entry recognizes the dividend revenue earned by SS Ltd. from its investment in YY Ltd.
On December 31, YY Ltd. reported net income of Br 270,000 for the year. As SS Ltd. has significant influence over YY Ltd., it needs to adjust its investment account for its share of the net income.
Investment in YY Ltd. Dr. Br 81,000 (30% of Br 270,000)
Revenue from Investment in YY Ltd. Cr. Br 81,000
This entry records the revenue earned by SS Ltd. from its share of YY Ltd.'s net income.
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Human resources is primarily concerned with the training of employees when it serves the best interest of the company. What is one area in which human resources priorities training?
a. lay off
b. lateral moves
c. termination
d. demotions
Answers
Describe the ethical issues confronting supply chain
managers
Answers
There are a lot of ethics. The ethical issues in supply chain management are;
The Freedom of employment and also of association.The removal of child labor.The safe and hygienic working environment.The right pay and the right working hours.Better and non-racist treatment.Ethical issues often exist in supply chain management ranging from course of production, layers of middlemen, traders & retailers until the goods get to the consumer.
Supply chain consist of transporting of raw materials or products in the right flow to end that is the delivery of the final goods.
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Coast-to-Coast Shipping Company's general manager reports quarterly to the
company president on the firm's operating performance. The company uses a
budget based on detailed expectations for the forthcoming quarter. The general
manager has just received the condensed quarterly performance report shown
below.
Budget Actual Variance
Net revenue $8,000,000 $7,600,000 $400,000 U
Fuel $160,000 $157,000 $3,000 F
Repairs and maintenance 80,000 78,000 2,000 F
Supplies and miscellaneous 800,000 788,000 12,000 F
Variable payroll 5,360,000 5,200,000 160,000 F
Total variable costs* $6,400,000 $6,223,000 $177,000 F
Supervision $160,000 $164,000 $4,000 U
Rent 160,000 160,000 ___
Depreciation 480,000 480,000 ___
Other fixed costs 160,000 158,000 2,000 F
Total fixed costs $960,000 $962,000 $2,000 F
Total costs charged against Revenue $7,360,000 $7,185,000 $175,000 F
Operating income $640,000 $415,000 $225,000 U
U = Unfavorable F = Favorable
*For purposes of this analysis, assume that all these costs are totally variable with respect to sales
revenue. In practice, many are mixed and have to be subdivided into variable and fixed components
before a meaningful analysis can be made. Also assume that the prices and mix of services sold remain
unchanged.
Although the general manager was upset about not obtaining enough revenue, she was happy that her
cost of performance was favorable; otherwise her net operating income would be even worse.
The president was totally unhappy and remarked: "I can see some merit in comparing actual
performance with budgeted performance because we can see whether actual revenue coincided with our
best guess for budget purposes. But I can't see how this performance reports helps me evaluate cost
control performance."
Required:
1. Prepare a columnar flexible budget for Coast-to-Coast Shipping at revenue levels of $7,000,000;
$8,000,000; and $9,000,000. Assume that the prices and mix of products sold are equal to the budgeted
prices and mix.
2. Express the flexible budget for costs in formula form.
3. Prepare a condensed table showing the master (static) budget variance, the sales volume variance,
and the flexible budget variance
Answers
1. Columnar Flexible Budget:
$7,000,000 $8,000,000 $9,000,000
Net Revenue $7,000,000 $8,000,000 $9,000,000
Fuel $140,000 $160,000 $180,000
Repairs and Maintenance $70,000 $80,000 $90,000
Supplies and Miscellaneous $700,000 $800,000 $900,000
Variable Payroll $4,690,000 $5,360,000 $6,030,000
Total Variable Costs* $5,600,000 $6,400,000 $7,200,000
Supervision $140,000 $160,000 $180,000
Rent $160,000 $160,000 $160,000
Depreciation $480,000 $480,000 $480,000
Other Fixed Costs $160,000 $160,000 $160,000
Total Fixed Costs $940,000 $960,000 $960,000
Total Costs $6,540,000 $7,360,000 $8,160,000
Operating Income $460,000 $640,000 $840,000
2. Formula for Flexible Budget Costs:
Total Variable Costs = (Variable Cost per Unit * Net Revenue) + Total Fixed Costs
3. Condensed Table:
Variance Master (Static) Budget Sales Volume Variance Flexible Budget Variance
Net Revenue $400,000 UF $0 $200,000 UF
Total Costs $175,000 F $0 $50,000 F
Operating Income $225,000 U $0 $150,000 U
The Master (Static) Budget Variance is the difference between the budgeted net revenue and the actual net revenue. In this case, it is an unfavorable variance of $400,000.
The Sales Volume Variance is the difference between the flexible budget net revenue and the budgeted net revenue. Since there is no change in the sales volume, this variance is zero.
The Flexible Budget Variance is the difference between the flexible budget total costs and the actual total costs. In this case, it is a favorable variance of $50,000. This indicates that the company was able to control costs better than anticipated.
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I’m not sure what I’m doing wrong with this please need help
when the amount of revenue
received exceeds the amount of
governmental expenses
when the amount of revenue
received is less than the amount
of government expenses
s the sum of all government
deficits minus the sum of all
government surpluses
the spending and revenues of the
US government
Answers
Based on the definitions of budget deficits, surpluses and debts, the following matches and key terms are correct:
Budget deficit - when the amount of revenue received is less than the amount of government expensesBudget surplus - when the amount of revenue received exceeds the amount of governmental expensesNational debt - the sum of all government deficits minus the sum of all government surplusesFederal budget - the spending and revenues of the US governmentHow does national debt form?A national debt forms when there is a budget deficit which means that the sources of revenue to the government were less than the expenses. Budget surplus is often sought after which is when revenue exceeds expenses.
The national debt would then be the sum of these surpluses less the sum of the deficits. This federal budget therefore tries to use as little debt as possible.
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What is a financial planner? Responses
O a person that advises you on legal matters
O a qualified investment professional who helps individuals and corporations meet their long-term financial objectives
O a person whose job it is to keep, inspect, and analyze financial accounts
O a person who often works at a financial institution and is primarily concerned with raising capital for corporations, governments, or other entities
Answers
1. What is a financial planner?
a qualified investment professional who helps individuals and corporations meet their long-term financial objectives
2. How do financial planners get paid?
on the basis of fees or commissions
3. Which of these do financial planners advise on?
investing
4. What is the role of a financial planner?
a qualified investment professional who helps individuals and corporations meet their long-term financial objectives
5. What is the CFP?
a formal certification of expertise in the areas of financial planning, taxes, insurance, estate planning, and retirement
Personal Finance- Financial Planning Quick Check4/22/2023
The operating budget provides a roadmap for financial plans for a short-term, future period. What is a typical “future period” for an operating budget?
Answers
An operating budget is a financial statement that outlines the organization's expenditures and revenues for a specific period.
The operating budget is typically for a fiscal year, which is usually twelve months. The future period for an operating budget is usually a fiscal year or less than a year. The operating budget is critical because it establishes guidelines for financial activities and operations in an organization. It provides a roadmap for financial plans for a short-term, future period, which typically begins on January 1st and ends on December 31st.
An organization creates an operating budget to aid in the allocation of resources and expenditures to achieve its objectives for a given period. A typical operating budget is for a fiscal year. A fiscal year is the period when an organization prepares its financial statements. It is usually 12 months, but it may be shorter or longer depending on the organization. An operating budget typically covers one fiscal year; however, it may be longer or shorter based on the organization's preferences.
The future period for an operating budget is frequently updated to reflect the company's current situation and financial standing. It takes into account the actual results of the previous period and the estimated expenditures and revenues for the upcoming year to develop the operating budget for a future period.
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A strategy to earn foreign exchange by making domestic industries competitive in the international market is called: a. Export promotion b. Import substitution c. Inward looking trade policy d. Both (b) and (c)
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Answer:
a
Explanation:
It's export promotion
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Green Co. paid $28,400 in dividends and $29,571 in interest over the past year. During the year, net working capital increased from $13,986 to $18,719. The company purchased $44,200 in fixed assets and had a depreciation expense of $17,705. During the year, the company issued $25,500 in new equity and paid off $21,700 in long-term debt. What was the company's cash flow from assets
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If Green Co. paid $28,400 in dividends and $29,571 in interest over the past year. During the year, net working capital increased from $13,986 to $18,719. During the year, the company issued $25,500 in new equity and paid off $21,700 in long-term debt. What the company's cash flow from assets will be is: $48,371
First step is to calculate the cash flow to creditor
Cash flow to creditors = $21,700 + $29,571
Cash flow to creditors = $51,271
Second step is to calculate the cash flow to Stockholders
Cash flow to Stockholders =$28,400 - $25,500
Cash flow to Stockholders =$2,900
Now let determine the cash flow from assets using this formula
Cash flow from assets = Cash flow to creditors + Cash flow to stockholders
Let plug in the formula
Cash flow from assets = $51,271 + $2,900
Cash flow from assets = $48,371
Inconclusion if Green Co. paid $28,400 in dividends and $29,571 in interest over the past year. During the year, net working capital increased from $13,986 to $18,719. During the year, the company issued $25,500 in new equity and paid off $21,700 in long-term debt. What the company's cash flow from assets will be is: $48,371
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In a culture with strong business and family ties which of the following is NOT true:
a) Several members of a family may work in the same business.
b) Family members are usually promoted first in a family-owned business.
c) Protecting a family member is sometimes more important than a good business
d) decision.
Families and their businesses are very mobile.
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Answer: Families and their businesses are very mobile.
Explanation:
In a culture with strong business and family ties, we should note that several members of the family may work in the same business.
Also, the family members are usually promoted first in a family-owned business. This is to ensure that the family members have a say in the affairs of the company. The family members are protected as well.
The option that isn't true is that families and their businesses are very mobile. This isn't true. The business is of importance and the family members aren't usually mobile.
Answer:
According to the case, the five kinds of share are directly relevant and can be calculated from the provided information are:
1. Authorized Capital
2. Issued Capital
3. Un-issued Capital
4. Subscribed Capital
5. Called-up Capital
Explanation:
Authorized Capital:
The authorized capital is known as the registered capital of the company, Authorized capital is the maximum amount of share that a company is authorized to issuing share to its shareholders.
In this case, the Alpha limited company registered on 5th January 2023 with the capital of 500,000 which is divided into 25,000 ordinary shares and the value of each share is Rs. 20.
Issued Capital:
The issued share capital of company is monetary value of shares which legally offers by company to its shareholders.
In this case, the Alpha limited company on 20th of January offered for sale to the public from authorized capital. The company put forward 15,000 and the value of each share is 20 Rs. Consequently, the company’s issued capital is 300,000 Rs (15,000 shares x 20 Rs.) .
Un-issued Capital:
The un-issued share capital reflects the part of authorized capital stock that the company has not yet issued to the public.
In this case, the Alpha limited company has not issued his 10,000 shares, and the value of each share is 20 Rs so its total un-issued capital is Rs. 200,000 (10,000 shares x 20 Rs.).
Subscribed Capital:
The subscribed capital is the portion of issued capital for which the public has been subscribed and the company has accepted.
In this case, the Alpha limited company on 23rd January received applications for 14,500 shares from the public which informed by company’s bank, so the subscribed capital is Rs. 290,000 (14,500 shares x 20 Rs.).
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The five kinds of capital that are directly relevant are:
Authorized Capital: Rs. 500,000Issued Capital: Rs. 300,000Un-issued Capital: Rs. 200,000Subscribed Capital: Rs. 290,000Called-up Capital: Rs. 290,000What is a called-up capital?The called-up capital refers to the portion of the subscribed capital that the company has demanded and the shareholders are required to pay.
In this case, the Alpha limited company called up the entire subscribed capital of Rs. 290,000 on 25th January. Therefore, the called-up capital is also Rs. 290,000.
Summarily,
- Authorized Capital: Rs. 500,000
- Issued Capital: Rs. 300,000
- Un-issued Capital: Rs. 200,000
- Subscribed Capital: Rs. 290,000
- Called-up Capital: Rs. 290,000
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The agreement of the trial balance total is an indication that all transactions have been properly recorded in the books of accounts do you agree justify your answer
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Answer: I did not agree that the agreement of trial balance is an indication that all transactions have been properly recorded in the books of account .it only means that certain types of errors have not been made.
Explanation:
Trial balance is an account prepared in order to test the arithmetical accuracy of entries in the ledger account. When a double entry principle has been observed then the total of debit entry must equal the total of credit entry in the trial balance. The balancing of the two sides of the trial balance does not mean that the account is correct. It means that certain types of errors have not been made. In the sense that there are several types of error which will not affect the balancing of trial balance such as the compensating error, error of original entry, error of omission, error of commission and so on will not affect the balancing of trial balance.
under manufacturing what are the following national and international business opptunities
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When nations cannot successfully produce a true or service, they can seek to acquire it through trade with every other country. These opportunities to specialize regularly lead to greater effectivity in production, greater levels of innovation, and extended satisfactory of development.
Which of the following is are kind kinds of global enterprise *?The fundamental sorts of International business include: Export Trade: Selling products and services to different nations. Import Trade: Buying items and offerings from different countries. Entrepot Trade: Importing items and offerings to re-export them to other nations.
Attract foreign demand: Some companies are unable to extend their market share due to fierce competition within the enterprise
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https://brainly.com/question/14926566#SPJ1A customer paid Critter Sitters Animal Care cash for dog sitting services. Which two accounts are impacted by this transaction?
O cash and accounts payable
O Cash and sales
O Sales and accounts payable
O Sales and accounts receivable
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In the books of Critter Sitters Animal Care, the two accounts impacted by the cash sales transaction are B. Cash and sales.
What are the accounting impacts of cash sales transactions?When a customer pays for services or the sale of goods, the selling entity will debit its cash account and credit its service revenue or sales revenue account.
For the paying customer, the accounting impact is to debit purchases, expenses, or inventory and credit the cash account.
These debit and credit entries agree with the double-entry system of accounting and the accounting equation that states that assets are equal to liabilities and equity, given each business transaction.
Transaction Analysis for Critters:Cash $ Sales $
Thus, Critters Sitters Animal Care should debit its cash account and credit its sales revenue account.
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Select the correct answer from each drop-down menu.
As a sales executive at a large corporation, Sonya earns____
the company's finance department as an accountant, earns
for every big sale she makes. Jessica, who works full time in the company’s finance department as an accountant, earns ____
1. a) a bonus
b) a commission
c) hourly pay
2. a)a bonus
b)a commission
c) a fixed salary
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2) is fixed salary. Hourly pay usually applies to lower levels and fixed salaries are for higher level, executive, employees
The Answer of First question is option B "a Commission", and answer for second question is option C "A Fixed Salary".
Types of EarningIn a Corporate and private sector, there are many different kinds of earning, such as a fixed salary, a commission or a bonus depends upon the job a person has.
In the First question Sonya is a sales executive, and we know sales is a commission based job, hence the correct option would be A Commission. A bonus is given for completing overall job target.
In the second question, Jessica who works full time as an Accountant which means her job is based on a fixed salary rather than a commission because she is providing professional service to the company. Hence the correct option would be Option C Fixed Salary.
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How can organisations handle debtors?
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Organizations handle debtors by using various legal and ethical practices such as maintaining accurate records and setting payment terms etc.
Establishing precise payment terms, keeping accurate records, sending timely reminders, providing payment plans and working with debt collection agencies are all ways that businesses can manage their debtors. Organizations can assist in preventing past due payments by establishing clear payment terms and ensuring that debtors understand these terms.
Maintaining accurate records and sending reminders on a regular basis can also assist debtors in keeping up with their payments. Offering payment plans to customers who are having trouble making their payments can be helpful and working with a debt collection agency can help businesses collect past due debts more effectively.
When managing debtors it is crucial for businesses to adhere to legal and moral standards and to treat debtors with professionalism.
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