Answer:
Thats a lot of money
Explanation:
can I have some
Jessica is a U.S. Army Reservist and in 2020 traveled 130 miles each way to serve duty at a local military installation. She was required to report four times in 2020. Her normal route from home to the base included a $1.75 toll each way. Jessica's for AGI deduction for these costs is:
Answer:
AGI Deduction = 580.8 US dollars.
Explanation:
Solution:
Data Given:
Miles traveled = 130 miles
Reporting Period = 4 times in 2020
Cost from home to base = $1.75 toll each way.
Jessica's for AGI deduction for these costs is:
First, we need to find the travel amount:
Travel amount = Miles x Reporting Period x 2 x Mileage rate for deduction
Here, mileage rate for deduction = 0.545 per mile. So,
Travel Amount = 130 miles x 4 times x 2 x 0.545
Travel Amount = 566.8 US dollars.
Now, we need to find the Jessica's Toll Expenses.
Toll Expenses = 1.75 x 2 x 4 times
Toll Expenses = 14 US dollars.
Finally, we can find the required AGI Deduction:
AGI Deduction = Travel Amount + Toll Expenses.
AGI Deduction = 566.8 US dollars + 14 US dollars
Hence, Jessica's AGI deductions are:
AGI Deduction = 580.8 US dollars.
Your daughter is currently 10 years old. You anticipate that she will be going to college in 8 years. You would to have $136,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 3% per year, how much money do you need to put into the account today to ensure that you will have $136,000 in 8 years
Answer:
$107,359.66
Explanation:
We are to calculate the present value of $136,000
The formula for calculating present value is :
The formula for calculating future value:
P = FV / (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
$136,000 / (1.03)^8 = $107,359.66
Having which trait will enable you to deal with people in a way that does not offend them?
Answer:
Interpersonal skills..
Entries into T Accounts and Trial Balance Connie Young, an architect, opened an office on October 1, 20Y4. During the month, she completed the following transactions connected with her professional practice: Transferred cash from a personal bank account to an account to be used for the business, $53,500. Paid October rent for office and workroom, $5,400. Purchased used automobile for $35,000, paying $8,000 cash and giving a note payable for the remainder. Purchased office and computer equipment on account, $10,700. Paid cash for supplies, $2,570. Paid cash for annual insurance policies, $3,600. Received cash from client for plans delivered, $13,400. Paid cash for miscellaneous expenses, $1,450. Paid cash to creditors on account, $3,100. Paid $430 on note payable. Received invoice for blueprint service, due in November, $1,800. Recorded fees earned on plans delivered, payment to be received in November, $9,300. Paid salary of assistants, $2,800. Paid gas, oil, and repairs on automobile for October, $700.
A grandfather wants to know the average height of all his grandchildren. He finds that the heights of his 9 grandchildren are given in inches by 67,68,71,67,76, 74, 77,70, 72 What is the population mean of the height of his grandchildren in inches? Round your answer to the nearest tenth of an inch and do not include units.
Answer:
71.3
Explanation:
to find the mean you have to add all of the heights together and then divide by nine, which is how many heights are given.
Choro Mining is expected to generate the above free cash flows over the next four years, after which they are expected to grow at a rate of 3% per year. If the weighted average cost of capital is 7% and Conundrum has cash of $80 million, debt of $60 million, and 30 million shares outstanding, what is Choro's expected current share price
Answer: $19.85
Explanation:
Expected current share price = (Present value of free cash flows + Cash holdings - Debt) / Shares outstanding
Present value of free cash flows.
Present value = Year 1 present value + Year 2 present value + Year 3 present value + Year 4 present value + Present value of Terminal value
Terminal value = (Free cash flow * (1 + growth rate)) / (Cost of capital - growth rate)
= (26 * 1.03) / (7% - 3%)
= $669.50
Present value = (12 / 1.07) + (18/ 1.07²) + (22 / 1.07³) + (26 / 1.07⁴) + (669.50 / 1.07⁴)
= $575.49 million
Expected current price = (575.49 + 80 - 60) / 30
= $19.85
fter 15 years of employment in the airline industry, John started his own consulting company to use physical and computer simulation in the analysis of commercial airport accidents on runways. He estimates his average cost of new capital at 8% per year for physical simulation projects, that is, where he physically reconstructs the accident using scale versions of planes, buildings, vehicles, etc. He has established 17% per year as the MARR. What net rate of return on capital investments for physical simulation does he expect
Answer:
The answer is "9%".
Explanation:
Please find the complete question in the attached file.
The formula for calculating the net return rate:
[tex]\to \text{Net return rate= MARR - Capital Cost}[/tex]
[tex]= 17\% - 8\% \\\\= 9\%[/tex]
Therefore, the net return rate is 9%.
Employees who are paid biweekly will receive two more checks than
employees who are paid semimonthly
True or False
The electric utility rate for a facility during the months of May through October is 4.5 cents per kilowatt-hour for energy, $11.50 per kilowatt peak demand, and a $68.00 per month meter charge. During the August billing period the facility used 96,000 kw-hrs and set a peak demand of 624 kw during the time between 4:45 P.M. and 5:00 P.M. in the afternoon on August 15. Calculate the August electric bill.
Answer: $11564
Explanation:
Total units consumed for August = 96000
There's a peak demand of 624kw
Also, the May through October is 4.5 cents per kilowatt-hour for energy.
The August electric bill will then be:
= 96000 × 4.5/100 + 624 × 11.50 + 68
= (96000 × 0.045) + (624 × 11.50) + 68
= 4320 + 7176 + 68
= 11564
Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals.
a. Cash used for purchase of office supplies, $2,200.
b. Cash provided from consulting to customers, $48,600.
c. Cash used for purchase of mining equipment, $79,000.
d. Cash provided from long-term borrowing, $66,000.
e. Cash used for payment of employee salaries, $24,600.
f. Cash used for payment of office rent, $12,600.
g. Cash provided from sale of equipment purchased in c. above, $23,100.
h. Cash used to repay a portion of the long-term borrowing in d. above, $43,000.
i. Cash used to pay office utilities, $4,900.
j. Purchase of company vehicle, paying $10,600 cash.
Required:
Calculate cash flows from financing activities. (List cash outflows as negative amounts.)
Answer:
$12,400
Explanation:
Cash flows from financing activities Amount
Cash provided from long-term borrowing $66,000.
Cash used to repay a portion of the -$43,000
long-term borrowing in d. above
Purchase of company vehicle, paying -$10,600
Net cash used in financing activities $12,400
A partnership begins its first year with the following capital balances: Alfred, Capital $ 48,000 Bernard, Capital 58,000 Collins, Capital 68,000 The articles of partnership stipulate that profits and losses be assigned in the following manner: Each partner is allocated interest equal to 10 percent of the beginning capital balance. Bernard is allocated compensation of $16,000 per year. Any remaining profits and losses are allocated on a 3:3:4 basis, respectively. Each partner is allowed to withdraw up to $4,000 cash per year. Assuming that the net income is $58,000 and that each partner withdraws the maximum amount allowed, what is the balance in Collins capital account at the end of that year
Answer:
The balance in Collins capital account at the end of that year is:
$80,640.
Explanation:
a) Data and Calculations:
Alfred Bernard Collins Total
Capital balances $48,000 $58,000 $68,000 $174,000
Profit sharing: $58,000
Interest on capital (10%) $4,800 $5,800 $6,800 ($17,400)
Compensation 16,000 ($16,000)
Allocation of balance 7,380 7,380 9,840 ($24,600)
Drawings (4,000) (4,000) (4,000) ($12,000)
Balances $56,180 $83,180 $80,640
which of the following agencies manages and deploys the Integrated Ballistic Identification System A. FTI B. FBI C. ATF D. DOJ
Answer:
ATF
Explanation:
2.02 What is the benefit of a 529 education saving plan?
earnings in a 529 plan grow federal tax-free and will not be taxed when the money is taken out to pay for college.
At the end of the first month of operations, the Lamar Company's accountant prepared financial statements that showed the following amounts: Assets $90,000 Liabilities 30,000 Stockholders' Equity 60,000 Net Income 11,000 In preparing the statements, the accountant overlooked the following items: a. Depreciation for the month. $4,500 b. Service revenue earned but unbilled at month-end. $1,850 c. Employee wages earned but unpaid at month-end. 450 Determine the correct amounts of assets, liabilities and stockholders' equity at month-end and net income for the month. Assets Liabilities Stockholders' Equity Net Income Answer 87,350 Answer 30,450 Answer 86,900 Answer 7,900
Answer:
Assets = $87,350
Liabilities = $30,450
Stockholders' Equity = $56,900
Net Income = $7,900
Explanation:
The correct amounts of assets, liabilities and stockholders' equity at month-end and net income for the month can be determined as follows:
Assets = Recorded asset value - Depreciation + Unbilled service revenue = $90,000 - $4,500 + $1,850 = $87,350
Liabilities = Recorded liabilities + Unpaid wages = 30,000 + 450 = $30,450
Stockholders' Equity = Recorded Stockholders' Equity - Depreciation + Unbilled service revenue - Unpaid wages = $60,000 - $4,500 + $1,850 - $450 = $56,900
Net Income = Recorded net income - Depreciation + Unbilled service revenue - Unpaid wages = 11,000 - $4,500 + $1,850 - $450 = $7,900
Note that from the above calculations, we can obtain:
Liabilities + Stockholders' Equity = $30,450 + $56,900 = $87,350
This therefore confirms the accounting equation that:
Assets = Liabilities + Stockholders' Equity = $87,350
A point inside the production possibilities curve is: A) attainable and the economy is efficient. B) attainable, but the economy is inefficient. C) unattainable, but the economy is inefficient. D) unattainable and the economy is efficient. Group of answer choices
Answer:
B) attainable, but the economy is inefficient.
Explanation:
In the case when there is a point that inside in the production possibility curve so it is attainable but there is non-efficient economy
Therefore according to the given options, the option B is correct
And, the rest of the options are wrong
So the same would be relevant too
A water resources engineer is trying to run a cost-benefit analysis for a project. They need to first decide on the planning period (the benefits should be calculated over N years, and N should be determined). If N is too large, then the future benefits in those years (e.g. 70 years from now) will have a very low present value. Therefore, the engineer would like to cut off the planning period after a point when the present equivalent of benefits becomes less than 6.25% of that future benefit. If the interest rate is 8%, use the rule of 72 to determine the duration of the planning period (N).
Answer:
N = 36 years
Explanation:
Solution:
According to the 72 rule, present sum doubles in value, if the product of interest rate in percent and number of compounding period is 72.
So, We can say for every 9 years at 8 percent = 72 = present sum will be doubled.
Similarly, it will be doubled at 18 years., then 27 years, then 36 years and so on.
SO,
We need to find the P/F ratio, for the end of 0 years first.
Formula = (P/F, i, n) = [tex](1 + i)^{-n}[/tex]
here,
i = 8%
n = 0 years.
P/F = [tex](1 + 0.08)^{-0}[/tex] (Anything power zero = 1)
So, similarly, calculate this P/F ratio for every 9 years till present equivalent of benefits becomes less than 6.25% of that future benefit.
find the P/F ratio, for the end of 9 years:
Formula = (P/F, i, n) = [tex](1 + i)^{-n}[/tex]
here,
i = 8%
n = 9 years.
P/F = [tex](1 + 0.08)^{-9}[/tex]
P/F = 0.50
Amount = 2x
find the P/F ratio, for the end of 18 years:
Formula = (P/F, i, n) = [tex](1 + i)^{-n}[/tex]
here,
i = 8%
n = 18 years.
P/F = [tex](1 + 0.08)^{-18}[/tex]
P/F = 0.25
Amount = 4x
find the P/F ratio, for the end of 27 years:
Formula = (P/F, i, n) = [tex](1 + i)^{-n}[/tex]
here,
i = 8%
n = 27 years.
P/F = [tex](1 + 0.08)^{-27}[/tex]
P/F = 0.13
Amount = 8x
find the P/F ratio, for the end of 36 years:
Formula = (P/F, i, n) = [tex](1 + i)^{-n}[/tex]
here,
i = 8%
n = 36 years.
P/F = [tex](1 + 0.08)^{-36}[/tex]
P/F = 0.06 = P/F ratio percentage = 6%
Amount = 16x
Hence, N = 36 years because it is the value nearest to 6.25% required
find the P/F ratio, for the end of 45 years:
Formula = (P/F, i, n) = [tex](1 + i)^{-n}[/tex]
here,
i = 8%
n = 45 years.
P/F = [tex](1 + 0.08)^{-45}[/tex]
P/F = 0.03
Amount = 32x
Whispering Corporation has retained earnings of $715,700 at January 1, 2020. Net income during 2020 was $1,567,700, and cash dividends declared and paid during 2020 totaled $83,500. Prepare a retained earnings statement for the year ended December 31, 2020. Assume an error was discovered: land costing $88,840 (net of tax) was charged to maintenance and repairs expense in 2019.
Answer:
$2,288,740
Explanation:
Preparation of a retained earnings statement for the year ended December 31, 2020
RETAINED EARNINGS STATEMENT
For the Year Ended December 31, 2020
Retained earnings, January 1, as reported $715,700
Correction for overstatement of expenses in
prior period (net of tax) $88,840
Retained earnings, January 1, as adjusted $804,540
($715,700+$88,840)
Add Net income $1,567,700
Less Cash dividends ($83,500)
Retained earnings, December 31 $2,288,740
($804,540+$1,567,700-$83,500)
Therefore retained earnings statement for the year ended December 31, 2020 will be $2,288,740
1. On April 30, Gomez Services had an Accounts Receivable balance of $18,000. During the month of May, total credits to Accounts Receivable were $52,000 from customer payments. The May 31 Accounts Receivable balance was $13,000. What was the amount of credit sales during May
Answer:
the amount of credit sales is $47,000
Explanation:
The computation of the amount of credit sales is shown below;
= Ending balance of account receivable + cash receipts - opening balance of account receivable
= $13,000 + $52,000 - $18,000
= $47,000
Hence, the amount of credit sales is $47,000
A local university has a goal of raising $500,000 for an escrow account. Their fund-raising committee has committed to raising $5,000 a month until they reach their goal. These funds are deposited into an interest-bearing account that earns interest at the rate of 8 percent per year compounded monthly. The first deposit is made at the end of the current month. How many months (aka how many deposits) can the committee expect to continue their fund-raising campaign
Answer: 77 months
Explanation:
Use the NPER function on Excel to find the answer.
Rate is compounded monthly so:
= 8% / 12
= 0.66667%
Payment = 5,000 per month
Present value = $0
Future value = 500,000
Value should be = 76.87 months
= 77 months
Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1, Year 1: Purchase price $ 71,000 Delivery cost $ 3,000 Installation charge $ 2,000 Estimated life 5 years Estimated units 146,000 Salvage estimate $ 3,000 During Year 1, the machine produced 42,000 units and during Year 2, it produced 44,000 units. Required Determine the amount of depreciation expense for Year 1 and Year 2 using each of the following methods:
Answer: See Explanation
Explanation:
You didn't give the methods to use but let me use 2 main methods.
First, let's use the Straight line Depreciation. This will be:
= ($71000 + $3000 + $2000 - $3000) / 5
= $73000/5
= $14600
Year 1 Depreciation = $14600
Year 2 depreciation = $14600
Secondly, let's use the double declining method of Depreciation will be:
= 1/5 × 2
= 0.2 × 2
= 0.4
= 40%
Year 1 depreciation will be:
= 76000 × 40%
= 76000 × 0.4
= $30400
Year 2 Depreciation will be:
= ($76000 - $30400) × 40%
= $45600 × 40/100
= $45600 × 0.4
= $18240
Alice wants to have a portrait painted for her family which career pathway would be the best for Alice to contact
Suppose the Federal Reserve wants to fix the U.S. exchange rate with the yen at $0.008 per yen. If the equilibrium market exchange rate were significantly lower at $0.007 per yen, what would the Fed need to do to maintain the fixed rate of $0.008 per yen
Answer:
The classification of the query is characterized throughout the explanation segment below as well.
Explanation:
As even the Fed needs to improve this same exchange money supply at $0.008, and once again the exchange rate would be $0.007, amortization throughout the stock exchange would be needed to reduce the monetary value to $0.008.
To start reducing that as well, the Fed hopes to pay the dollar upon that shop and bought Yen as well as enhance the amount of money in circulation throughout the market, which would rise in value this same dollar against Yen as well as lose value the currency. This should encourage people to spend in the United States market and lower the inflation rate. At the relatively high monetary policy, this same rate has been decreasing, which will contribute to something like a capital flight throughout the Us as well as increase the value of the yen.Assume the equivalent units of production for materials and conversion are 5,200 units and 5,000 units, respectively, using the weighted-average method. If 4,660 units were completed and transferred to the next department, then what is the total cost assigned to the units completed and transferred out of the Milling Department
Question Completion:
Milling Department Materials Conversion Total Cost of beginning work in process inventory $ 10,000 $ 15,000 $ 25,000 Costs added during the period 291,600 385,000 676,600 Total cost $ 301,600 $ 400,000 $ 701,600
Answer:
Milling Department
The total cost assigned to the units completed and transferred out is:
= $643,080
Explanation:
a) Data and Calculations:
Milling Department
Cost of production:
Materials Conversion Total Cost
Beginning work in process inventory $ 10,000 $ 15,000 $ 25,000
Costs added during the period 291,600 385,000 676,600
Total cost $ 301,600 $ 400,000 $ 701,600
Equivalent units of production 5,200 5,000
Cost per equivalent unit $58 $80
Cost Assignment:
Units completed and transferred out:
Materials = $270,280 (4,660 * $58)
Conversion 372,800 *4,660 * $80)
Total costs $643,080
Therefore, the costs assigned to ending work in process = $ 58,520 ($701,600 - 643,080)
______ says that the quantity demanded of a good folls when the price of 1 point the good rises.
A) The Law of Supply
B) The Law of Demand
C) Market Structure
D) Market Equilibrium
Answer:
A) The Law of Supply
Explanation:
11. King Arthur is going into battle and he needs to decide how many more swords and helmets he should buy. The tables show the total benefit for swords and helmets. Assume each sword costs two dollars and each helmet costs one dollar. If King Arthur only has $10, how many swords and helmets should he buy to maximize his total benefit
The ACE Equity Fund has an expected return E[r] of 11.830% and the ZQR Bond Fund has an expected return E[r] of 6.690%. A portfolio comprised of 3% ACE and 97% ZQR would have an expected return of __________%. (percent, rounded three places after decimal)
Answer:
The answer is "6.8442%".
Explanation:
The expected portfolio return is the total average portfolio return for all stocks
ACE fund weight (wA) =3%
ACE fund (ErA) expected return= 11.830%
Bond fund ZQR weight (wB) = 97%.
The ACE fund (ErB) expected return = 6.690%
Expected portfolio return = [tex](wA \times ErA)+(wB \times ErB)[/tex]
[tex]=(3\% \times 11.830 \% )+(97 \% \times 6.690\%)\\\\= 0.03 \times 0.1183 +0.97 \times 0.0669 \\\\=0.003549+ 0.064893\\\\=0.068442\\\\=6.8442 \%[/tex]
2. Grocers Absorb Rise in Food Prices to Keep Customers From Straying Dec. 17, 2017 7:00 a.m.
ET: Retailers hold line on prices, fearing they will lose business to discounters and new rivals online
Food costs are ticking up after a multiyear glut of many staples. But consumers aren't paying
much more yet because grocers, discounters and online retailers are all holding down prices to win
business. Many grocers are investing in e-commerce operations to keep up with Amazon.com Inc., which
has slashed prices on products including avocados, organic milk and chicken since it acquired Whole
Foods Market this summer. "Price competition is getting more severe," said Kemper Isely, co-president of
the Colorado-based Natural Grocers by Vitamin Cottage Inc., a health-food chain that competes with
Whole Foods in the West. The chain has cut prices this year in part to try to beat Whole Foods discounts.
Considering grocers, how can you apply price elasticity of demand to this situation?
who was a main practitioner of virtue ethics?
Explanation:
Virtue ethics began with Socrates, and was subsequently developed further by Plato, Aristotle, and the Stoics. Virtue ethics refers to a collection of normative ethical philosophies that place an emphasis on being rather than doing.
Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Process inventory account was $35,000 at the beginning of the month and $23,500 at the end of the month. During the month, the Corporation incurred direct materials cost of $57,600 and direct labor cost of $31,900. The actual manufacturing overhead cost incurred was $54,300. The manufacturing overhead cost applied to Work in Process was $53,600. The cost of goods manufactured for June was:
Answer:
the cost of goods manufactured is $154,600
Explanation:
The computation of the cost of goods manufactured is shown below:
= Opening work in process inventory + direct material cost + direct labor cost + manufacturing overhead cost applied - ending work in process inventory
= $35,000 + $57,600 + $31,900 + $53,600 - $23,500
= $154,600
Hence, the cost of goods manufactured is $154,600
Nettle Co. uses process costing to account for the production of rubber balls. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Equivalent units have been calculated to be 12,000 units for materials and 10,000 units for conversion costs. Beginning inventory consisted of $14,000 in materials and $8,000 in conversion costs. April costs were $72,000 for materials and $80,000 for conversion costs. Ending inventory still in process was 4,000 units (100% complete for materials, 50% for conversion). The cost per unit for materials using the FIFO method would be closest to:__________A. $6.0000B. $7.1666C. $14.5000D. $1.8334
Answer: $6.00
Explanation:
The following can be gotten from the question:
From the question, we are informed that April costs were $72,000 for materials with the equivalent units have been calculated to be 12,000 units.
Therefore, the cost per unit for materials using the First-In-First-Out (FIFO) will be:
= $72000 / 12000
= $6.00
The cost per unit for materials using the FIFO method would be closest to Option A. $6.0000.
The calculation is as follows:= Material cost ÷ equivalnet units for materials
= $72000 ÷ 12000
= $6.00
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