The amount of DRD that Jazz Corp can claim on the dividend it received from Williams Corp is $6,700. This amount can be excluded from Jazz Corp's taxable income, which will result in a lower tax liability for the corporation.
In order to calculate the dividends received deduction (DRD) that Jazz Corporation can claim on the dividend it received from Williams Corp, we need to first determine the applicable percentage that Jazz Corp can claim as per the tax laws.
The DRD is a tax provision that allows a corporation that owns stock in another corporation to exclude a portion of the dividend income received from that corporation from its taxable income. The applicable percentage of DRD is based on the percentage of ownership that the corporation holds in the other corporation.
In this case, Jazz Corporation owns 10% of the Williams Corp. stock. According to the tax laws, a corporation can claim a DRD of 50% on dividends received from a corporation in which it owns 20% or less of the stock. Therefore, Jazz Corp can claim a DRD of 50% on the dividend it received from Williams Corp.
Now, we can calculate the amount of DRD that Jazz Corp can claim on the dividend it received from Williams Corp. The dividend received by Jazz Corp from Williams Corp was $13,400. Applying the DRD percentage of 50%, we get:
DRD = 50% x $13,400 = $6,700
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___ relates to a system of checks and balances that limit employees' and managers' opportunity to deviate from policies and codes of conduct.
Internal controls relate to a system of checks and balances that limit employees' and managers' opportunity to deviate from policies and codes of conduct. So, the correct answer is Internal controls.
Internal controls are processes, policies, and procedures that an organization implements to safeguard its assets, ensure accuracy in financial reporting, and comply with laws and regulations. They provide a system of checks and balances that help limit opportunities for employees and managers to engage in fraud, embezzlement, or other unethical behaviour.
By implementing effective internal controls, organizations can minimize risks, improve accountability, and increase transparency. Overall, the answer demonstrates a good understanding of the concept of internal controls in the context of business and organizational management.
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Use the partial chart of accounts given here. For each closing entry described, decide which accounts are debited and credited. Enter Debit or Credit in the column of the appropriate accounts.
Account Titles
Account No.
K. Schenk, Capital 310
K. Schenk, Drawing 320
Income Summary 330
Sales 410
Advertising Expense 510
Insurance Expense 520
Supplies Expense 550
310 320 330 410 510 520 550
1–2. Closing entry for Sales. (p. 217) 3–4. Closing entry for all expense accounts. (p. 219) 5–6. Closing entry for Income Summary with a net income. (p. 220) 7–8. Closing entry for Income Summary with a net loss. (p. 220) 9–10. Closing entry for owner's drawing account. (p. 221)
Here is a breakdown of each closing entry, including the accounts that are debited and credited:
1-2. Closing entry for Sales (Account No. 410):
Debit: Sales (410)
Credit: Income Summary (330)
3-4. Closing entry for all expense accounts (Account Nos. 510, 520, 550):
Debit: Income Summary (330)
Credit: Advertising Expense (510)
Credit: Insurance Expense (520)
Credit: Supplies Expense (550)
5-6. Closing entry for Income Summary with a net income (Account No. 330):
Debit: Income Summary (330)
Credit: K. Schenk, Capital (310)
7-8. Closing entry for Income Summary with a net loss (Account No. 330):
Debit: K. Schenk, Capital (310)
Credit: Income Summary (330)
9-10. Closing entry for owner's drawing account (Account No. 320):
Debit: K. Schenk, Capital (310)
Credit: K. Schenk, Drawing (320)
I hope this answers your question and helps you understand which accounts to debit and credit for each closing entry. If you have any further questions, please don't hesitate to ask.
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according to which political point of view should we look to the market system to develop new technology leading to people living longer and healthier lives? radical right conservative liberal radical left
Answer:
liberal radical left
Explanation:
The radical right believes in aggressive capitalism. In this ideology, one would like to look into the market system and take advantage of every situation possible. The Radical Right looks for maximized profit out of the market. On the other hand, the radical left shows concerns about social welfare, so much so that they are ready to compromise for profits. Developing new technologies and using them for a healthier lifestyle requires large capital investments. Since the invention will be used in the service of common people, the profits may not be as high. There have to be concessions and grants for the poor so that they can avail of such technologies. Hence, the liberal radical left is more likely the political point of view in which technologies for better healthcare must be seen.
The concept of rank order consistency refers to the idea that traits are totally inconsistent over time within an individual. trait levels in an individual may decrease with age when compared to the general population a person with more of a trait at one time will have a different trait score at another time. "For some traits, levels may increase or decrease within an individual over time, but remain similar in rank when compared with peers of the same age group."
The statement "For some traits, levels may increase or decrease within an individual over time, but remain similar in rank when compared with peers of the same age group" is an accurate description of the concept of rank order consistency in personality psychology.
Rank order consistency refers to the idea that an individual's rank order of trait levels tends to remain stable over time relative to other individuals in the same age group. This means that even though an individual's absolute level of a trait may change over time, their rank order compared to others in their age group tends to remain relatively consistent.
For example, if an individual scores high in extraversion relative to their peers at one point in time, they are likely to maintain a relatively high ranking in extraversion compared to their peers over time, even if their absolute level of extraversion changes.
Therefore, the statement accurately reflects the concept of rank order consistency in personality psychology.
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When production is constrained by a limited input resource, incremental analysis involves the use ofO the contribution margin per unit of limited input resourceO the contribution margin per unit of limited output resourceO the only information relevant to a particular business decision is that which varies among possible outcomes O many businesses fail due to poor cash planning related to short-run business decisions
When production is constrained by a limited input resource, incremental analysis involves the use of the contribution margin per unit of limited input resource. Here option A is the correct answer.
This approach is used to identify the most profitable products or services to produce given the constraint on input resources. The contribution margin per unit of limited input resource represents the additional profit earned for each additional unit of the constrained input resource used.
By calculating the contribution margin per unit of the limited input resource, management can determine which products or services generate the highest contribution margin per unit of the limited input resource and prioritize production accordingly.
The incremental analysis involves analyzing the incremental costs and benefits of each possible decision to determine the best course of action. The focus is on the additional costs and benefits that result from each option, rather than the total costs and benefits. This approach is based on the assumption that the only information relevant to a particular business decision is that which varies among possible outcomes.
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Complete question:
When production is constrained by a limited input resource, incremental analysis involves the use of
A - the contribution margin per unit of limited input resource
B - the contribution margin per unit of limited output resource
C - the only information relevant to a particular business decision is that which varies among possible outcomes
D - many businesses fail due to poor cash planning related to short-run business decisions
power that is exercised over channel members based on experience and knowledge that a channel member possesses is
Channel members, sometimes called intermediaries or middlemen, work together to complete the various tasks it takes to get a product from production through to sale. While a producer could decide to market and sell products directly to consumers, usually they use channel members to make the process more efficient.
The power that is exercised over channel members based on experience and knowledge that a channel member possesses is referred to as expert power. Expert power is a type of influence that is derived from the skills, knowledge, and expertise of an individual. In the context of a channel, a channel member who has a deep understanding of the market, the products, and the customers can exert expert power over other members. This type of power can be used to persuade other members to follow a particular course of action or to adopt a specific strategy. Expert power can be an effective way to lead a channel because it is based on the respect and admiration that others have for the individual's knowledge and expertise.Channel members all have a role to play in moving products from producers towards consumers. They include agents, wholesalers, retailers, and distributors, as well as buyers, consumers, and producers.
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a. Explain what is meant by the following terms: (3 marks each)
i. Doubtful Debts: ii. Ordinary share: b. Explain the difference between tangible and non-tangible assets giving an example of each. (4 marks)
The meaning of the given terms are;
a) i. Doubtful debts refer to the debts that a company or business is unsure of being able to collect.
ii. Ordinary shares are the most common type of shares issued by a company to its shareholders.
b) Tangible assets are physical assets that have a physical form and can be seen or touched.
What is the brief explaination for each part of the question?
a) i. Doubtful debts refer to the debts that a company or business is unsure of being able to collect. These are the debts that are considered risky or doubtful due to reasons such as the debtor's financial instability or unwillingness to pay.
ii. Ordinary shares are the most common type of shares issued by a company to its shareholders. They represent ownership in the company and entitle shareholders to a portion of its profits and assets.
b) Tangible assets are physical assets that have a physical form and can be seen or touched. These include assets such as land, buildings, machinery, and vehicles. An example of a tangible asset is a company's manufacturing equipment.
Non-tangible assets are intangible assets that do not have a physical form and cannot be seen or touched. These include assets such as intellectual property, trademarks, patents, and copyrights. An example of a non-tangible asset is a company's brand reputation or goodwill.
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was there any change in determining quantities, costs,or valuations between opening and closing inventory?
The changes in determining quantities, costs, and valuations between opening and closing inventory can occur due to factors such as market price fluctuations, cost flow assumptions, and inventory management.
The change in determining quantities, costs,or valuations between opening and closing inventoryThe process of determining quantities, costs, and valuations between opening and closing inventory, there may be changes due to various factors.
Opening inventory refers to the value of goods available at the beginning of an accounting period, while closing inventory represents the value of goods remaining at the end of the period.
One factor that can cause changes is fluctuations in the market price of goods. This may affect the valuation of the inventory, particularly if a business uses the Lower of Cost or Market (LCM) method, where inventory is valued at the lower of its original cost or current market price.
Another factor that can lead to changes in inventory valuation is the choice of cost flow assumption, such as First-In, First-Out (FIFO) or Last-In, First-Out (LIFO). These methods determine the cost of goods sold and the value of the closing inventory, which in turn affects the overall financial performance of the business.
Inventory quantities may change due to factors such as sales, purchases, returns, or losses. These changes impact both the closing inventory and the cost of goods sold. Proper tracking and management of inventory levels are essential for accurate financial reporting and decision-making.
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when mayumi raised several possible objections to a proposal for the sake of driving discussion, she was playing the role of devil’s advocate.
The given statement "when Mayumi raised several possible objections to a proposal for the sake of driving discussion, she was playing the role of devil’s advocate." is true because a devil's advocate can be seen as a form of advocacy for critical thinking and informed decision-making.
The person playing the role of devil's advocate doesn't necessarily hold that position themselves, but rather raises objections to the proposal to encourage others to think critically about the proposal's strengths and weaknesses.
In this case, Mayumi was playing the role of devil's advocate by raising possible objections to a proposal.
Being an advocate means supporting a particular cause or idea. In this case, Mayumi was advocating for critical thinking and stimulating discussion by playing the role of devil's advocate.
By raising objections, she was advocating for a thorough examination of the proposal's strengths and weaknesses, rather than simply accepting it without question.
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Complete Question:
True or false: when Mayumi raised several possible objections to a proposal for the sake of driving discussion, she was playing the role of devil’s advocate.
during the modeling phase of the crisp-dm method, the team conducting the data mining project ______. quilzet
During the modeling phase of the CRISP-DM method, the team conducting the data mining project selects and applies various modeling techniques to the prepared data.
The primary goal is to develop models that effectively represent patterns and trends within the dataset. This involves choosing appropriate algorithms, defining model parameters, and training the models with the available data. The team will then assess and compare the performance of different models using evaluation metrics, such as accuracy or precision, to identify the best-fitting model.
Ultimately, this phase helps the team create a robust and reliable model to support data-driven decision-making.
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First P. In social marketing it is the behavior or offering that is intended to be adopted by the target audience. Can be tangible or intangibleO ProductO PriceO PlaceO Promotion
The first P in social marketing stands for the good or conduct that the advertiser wants their target market to exhibit. This product must satisfy the demands and desires of the target market, whether it be material or intangible.
For instance, the adoption of a healthy lifestyle through stopping smoking could be the product in a social marketing effort to reduce smoking. The adoption of a regular exercise regimen could be the target of a campaign to encourage physical activity. The product or behavior's being pushed has a significant impact on how well a social marketing campaign performs. The product must be appealing to the target market, relevant to them, simple to use, and long-lasting.
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In an economy, the desired consumption and investment functions are given by C^d = 1,500 + 0.70V -4,500r f^d = 1,000 - 4,000r where Y is output and r is the real interest rate. Government purchases are G = 2,100. The equation for desired national saving is: S_1^d = -3,600 + 0.30Y + 4,500r. Using the condition that at equilibrium, quantity of goods supplied = quantity of goods demanded, determine the real interest rates that clear the goods market when Y = 10,000 and Y = 12,000. When Y = 10,000, the equilibrium rate of interest is: r = %. (Enter your response as a percentage rounded to the nearest integer.)
When Y = 10,000, the equilibrium rate of interest is r ≈ -0.2353, or -23.53% (rounded to the nearest integer).
To determine the real interest rates that clear the goods market when Y = 10,000 and Y = 12,000, we need to follow these steps:
Step 1: At equilibrium, desired saving (S^d) equals desired investment (f^d). So, we have:
S_1^d = f^d
Step 2: Substitute the given functions and Y values into the equation:
For Y = 10,000:
-3,600 + 0.30(10,000) + 4,500r = 1,000 - 4,000r
Step 3: Solve for the real interest rate (r):
3,000 + 4,500r = 1,000 - 4,000
8,500r = -2,000
r = -2,000 / 8,500
r ≈ -0.2353
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To pay back Social Security loans, Congress would do all of the following except -Increased budget deficits -Reduce spending on non-social security programs -Raise future taxes -Sell you fewer US treasury bonds
To pay back Social Security loans, Congress would do all of the following except "Sell you fewer US treasury bonds."
What is Social Security?
The Social Security program has been borrowing money from the general fund of the US Treasury to make up for shortfalls in its funding. To repay these loans, Congress has several options, including increasing budget deficits, reducing spending on non-Social Security programs, and raising future taxes.
However, selling fewer US Treasury bonds is not a viable option because the Social Security Trust Fund invests its surplus in Treasury bonds as a way to earn interest on its reserves. Selling fewer bonds would mean less interest income for the Trust Fund, which would make it more difficult to pay out benefits to current and future beneficiaries.
Therefore, Congress would not sell fewer US Treasury bonds as a way to pay back Social Security loans.
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the difference between the cost of office equipment and accumulated depreciation office equipment is called:
The difference between the cost of office equipment and accumulated depreciation office equipment is called "net book value" or "carrying amount." This term represents the remaining value of an asset after accounting for depreciation over time.
Depreciation is an accounting method that allocates the cost of an asset over its useful life, reflecting the reduction in the asset's value due to wear and tear, usage, and obsolescence. Office equipment, like computers, furniture, and machinery, typically have a limited lifespan and lose value over time.
The cost of office equipment refers to the initial price paid for the asset, including any expenses incurred to make the asset ready for use. This cost establishes the basis for calculating depreciation. Accumulated depreciation represents the total amount of depreciation expense that has been recognized for an asset since it was acquired. This value increases over time as the asset is used and its value declines.
The net book value provides an estimate of the current worth of an asset in the company's financial statements. It helps in determining if an asset should be replaced or if additional investment is required to maintain its functionality. Additionally, the net book value is used to calculate the gain or loss on the disposal of an asset.
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avalon industries buys equipment for $122,000, expects to use it for ten years, and then sell it for $12,200. using the straight-line method, the company should report annual depreciation for the equipment of:
Avalon Industries should report annual depreciation for the equipment of $10,980.To calculate the annual depreciation for the equipment purchased by Avalon Industries, we need to use the straight-line method.
This method assumes that the asset will depreciate evenly over its useful life. In this case, the equipment has a cost of $122,000 and is expected to have a useful life of ten years, after which it will be sold for $12,200.
To find the annual depreciation, we need to subtract the salvage value from the cost of the equipment and then divide by the useful life in years. ($122,000 - $12,200) / 10 years = $10,980
Therefore, Avalon Industries should report annual depreciation for the equipment of $10,980. This amount will be recorded on the company's income statement each year until the equipment is fully depreciated.
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Before determining the ethical issue, the previous step in the process of making an ethical decision is to 2 points A. Monitor and learn from the outcomes B. identify the stakeholders Identify the alter
Once the issue is identified, it is important to monitor and learn from the outcomes of any decision made.
Determining the ethical issue?
Before determining the ethical issue, the previous step in the process of making an ethical decision is to identify the stakeholders. This involves identifying all parties that may be affected by the decision and taking their perspectives and interests into account.
Only after this step can the ethical issue be determined in a way that is fair and considers the impact on all stakeholders. Once the issue is identified, it is important to monitor and learn from the outcomes of any decision made, in order to ensure that it is ethical and fair to all parties involved.
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Cumberland County Senior Services is a non-profit organization devoted to providing essential services to seniors who live in their own homes within the Cumberland County area. Three services are provided for seniors—home nursing, Meals on Wheels, and housekeeping. In the home nursing program, nurses visit seniors on a regular basis to check on their general health and to perform tests ordered by their physicians. The Meals on Wheels program delivers a hot meal once a day to each senior enrolled in the program. The housekeeping service provides weekly housecleaning and maintenance services. Data on revenue and expenses for the past year follow:
Total Home
Nursing Meals on
Wheels House-
keeping
Revenues $ 918,000 $ 265,200 $ 408,000 $ 244,800 Variable expenses 501,400 122,800 215,000 163,600 Contribution margin 416,600 142,400 193,000 81,200 Fixed expenses: Depreciation 68,760 8,160 40,300 20,300 Liability insurance 42,740 20,300 7,200 15,240 Program administrators’ salaries 116,300 40,500 38,300 37,500 General administrative overhead* 183,600 53,040 81,600 48,960 Total fixed expenses 411,400 122,000 167,400 122,000 Operating income (loss) $ 5,200 $ 20,400 $ 25,600 $ (40,800 )
*Allocated on the basis of program revenues.
The head administrator of Cumberland County Senior Services, Judith Ewa, is concerned about the organization’s finances and considers the operating income of $5,200 last year to be razor-thin. (Last year’s results were very similar to the results for previous years and are representative of what would be expected in the future.) She feels that the organization should be building its financial reserves at a more rapid rate in order to prepare for the next inevitable recession. After seeing the above report, Ewa asked for more information about the financial advisability of discontinuing the
housekeeping program.
The depreciation in the housekeeping category is for a small van that is used to carry the housekeepers and their equipment from job to job. If the program were discontinued, the van would be donated to a charitable organization. Depreciation charges assume zero salvage value. None of the general administrative overhead would be avoided if the housekeeping program were dropped, but the liability insurance and the salary of the program administrator would be avoided.
Based on the data provided, it appears that the housekeeping program is operating at a loss. The contribution margin for the housekeeping program is only $81,200, while the fixed expenses for the program are $167,400. This results in an operating loss of $40,800 for the program.
Discontinuing the housekeeping program would result in a savings of $35,540 ($20,300 for liability insurance and $15,240 for program administrator salary). However, it is important to note that none of the general administrative overhead would be avoided if the program were dropped.
If Cumberland County Senior Services were to discontinue the housekeeping program, they would lose the revenue from that program ($244,800), but they would also eliminate the variable expenses associated with the program ($163,600). This would result in a decrease in revenues and expenses of $244,800 and $163,600, respectively.
To determine whether discontinuing the housekeeping program would be financially advisable, it would be important to consider the impact on the overall financial health of the organization. The organization's operating income is already very low, and discontinuing the housekeeping program would result in a further decrease in revenues. However, it would also result in a significant decrease in expenses.
Ultimately, the decision to discontinue the housekeeping program would depend on a variety of factors, including the organization's financial goals, the importance of the program to the seniors it serves, and the availability of alternative sources of revenue. A thorough analysis of these factors would be necessary before making a decision.
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vogler furnishings designs and produces home furnishings. vogler has a team of designers that design blueprints for each type of furniture, and they are given creative license to develop ideas for new products. the design team is integral to company revenue, as added features can increase revenue for specific products and design flaws can reduce revenue because of refunds and recalls. when assigning financial responsibility to the design team, they would best be classified as a(n)
When assigning financial responsibility to the design team, they would best be classified as a Cost center.
The design team would best be classified as a cost center because they are responsible for incurring costs related to designing and developing new products.
The design team's performance can be evaluated based on their ability to control costs associated with their work, such as materials, labor, and overhead costs. By being classified as a cost center, the design team's financial responsibility can be clearly defined, and their impact on the company's overall profitability can be better understood.
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An investment of $412,000 will yield annual profits of $61,000 for eight years. The proceeds on disposition of the investment at the end of the eight years are estimated at $137,000.On the basis of its IRR and a 11% cost of capital, should the investment be made?
The IRR of this investment is calculated to be approximately 14.1%, therefore, it is recommended that the investment be made.
To determine if the investment should be made, we need to calculate the internal rate of return (IRR) of the investment and compare it to the cost of capital of 11%.
Using a financial calculator or spreadsheet, we can input the cash flows of the investment:
Year 0: -$412,000 (initial investment)Years 1-8: $61,000 per year (annual profits)Year 8: $137,000 (proceeds from disposition)The IRR of this investment is calculated to be approximately 14.1%. This is higher than the cost of capital of 11%, which means that the investment is expected to generate returns that exceed the required rate of return. Therefore, it is recommended that the investment be made.
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Briefly explain the benefits and drawbacks of a merit system.A benefit of the merit system is that it helps to ensure the most qualified applicants are given the position. A drawback is that the bureaucracy is less responsive to the will of elected leaders than under patronage.Which describes the ideal bureaucracy according to Max Weber?A. an apolitical, hierarchically organized agencyB. an organization that competes with other bureaucracies for fundingC. a wasteful, poorly organized agencyD. an agency that shows clear electoral responsiveness
According to Max Weber, the ideal bureaucracy is described as an apolitical, hierarchically organized agency. Here option A is the correct answer.
A merit system is a form of personnel selection that evaluates candidates based on their qualifications, skills, and performance rather than their connections or affiliations.
One of the main benefits of the merit system is that it can help ensure that the most competent and qualified individuals are selected for positions, which can lead to greater efficiency, productivity, and innovation in the organization. Additionally, the merit system can help to reduce corruption and favoritism in the hiring process, which can increase public trust in government institutions.
However, one of the drawbacks of the merit system is that it can create a rigid bureaucracy that is less responsive to the changing needs and priorities of elected leaders. This is because the merit system is designed to prioritize the selection and promotion of individuals based on their qualifications, rather than political considerations or loyalty to specific individuals or groups.
As a result, the bureaucracy may be less willing or able to implement policies that are not aligned with their existing priorities or ways of doing things.
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list the five most common objectives of using life insurance in an estate plan. 2. what is the advantage of paying off debt at the death of the first spouse? 3. why is liquidity an issue for large estate?
The five most common objectives of using life insurance in an estate plan Paying estate taxes, Providing for loved ones, Equalizing inheritances, Funding buy-sell agreements, The advantage of paying off debt at the death of the first spouse is that it can help ensure that the surviving spouse has sufficient income, Liquidity is an issue for large estates because estate taxes are typically due within nine months of the decedent's death.
The five most common objectives of using life insurance in an estate plan are: Paying estate taxes: Life insurance can provide funds to pay estate taxes, which can be significant for larger estates. Providing for loved ones: Life insurance can provide a source of income or support for loved ones after the policyholder's death. Equalizing inheritances: If one child or heir is set to inherit more than others due to the nature of the estate assets, life insurance can be used to provide additional funds to the other heirs to ensure an equal distribution. Creating an inheritance: Life insurance can be used to provide an inheritance for loved ones who might not receive significant assets from the estate due to its size or structure. Funding buy-sell agreements: In the case of a business or partnership, life insurance can be used to fund a buy-sell agreement, ensuring that the surviving partners or shareholders can buy out the deceased partner's or shareholder's interest. The advantage of paying off debt at the death of the first spouse is that it can help ensure that the surviving spouse has sufficient income and resources to maintain their standard of living. By paying off debt, the surviving spouse may be able to reduce their ongoing expenses, such as mortgage payments or credit card debt, which can be particularly important if their income is reduced after the death of the first spouse. Additionally, paying off debt can help ensure that the estate assets are not depleted by ongoing debt payments, which can reduce the overall value of the estate. Liquidity is an issue for large estates because estate taxes are typically due within nine months of the decedent's death, and they must be paid in cash. For larger estates that may include significant assets such as real estate, artwork, or business interests, it can be difficult to generate enough cash to pay estate taxes without selling off assets or taking out loans. Life insurance can help provide the necessary liquidity to pay estate taxes without disrupting the estate plan or forcing the sale of assets at a potentially disadvantageous time or price.
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Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows: Purchases Dec. 10 Dec. 20 Sales Dec, 12 Dec, 14 Dec. 31 Dec. 1 310 units at $88 240 units 166 units 200 units 144 units at $90 240 units at $96 a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in
The cost of goods sold for each sale after each sale using perpetual inventory system with LIFO method are $15,936
Cost of goods refers to the direct costs associated with producing or purchasing the products or services that a company sells. It includes the cost of raw materials, direct labor, and manufacturing overhead.
For a retail company, cost of goods sold (COGS) refers to the cost of the products that are sold to customers, including the cost of purchasing the products from suppliers, transporting them, and any other costs associated with getting the products to the customer.
COGS is an important measure for companies, as it directly impacts their profitability and gross margin. By accurately tracking COGS, companies can make informed decisions about pricing, inventory management, and overall profitability.
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on an average day, a company writes 41 checks worth a total of $6,000 that clear in 3.75 days. the company also collects 63 checks worth a total of $8,090 that clear in 3.25 days. what is the company's average disbursement float?
The company's average disbursement float is $22,500.
How to determine average disbursement floatThe disbursement float refers to the amount of money a company has written in checks but has not yet been cleared by the bank.
To calculate the average disbursement float, we need to consider the total value of the checks and the time it takes to clear them. In this case, the company writes 41 checks worth a total of $6,000 that clear in 3.75 days.
To find the disbursement float, we need to multiply the total value of checks by the clearing time:
Disbursement float = Total value of checks x Clearing time
Disbursement float = $6,000 x 3.75
Disbursement float = $22,500
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editors of trade publications such as women's wear daily often possess which type of power because of their ability to compile and disseminate knowledge that can make or break individual designers?
The editors of trade publications often possess "information power" because of their ability to compile and disseminate knowledge that can make or break individual designers.
The "Informational-Power" is derived from a person's access to and control over information that others may need or want.
In this case, editors have access to information about "fashion-trends", designers, and industry news that can influence the success or failure of individual designers.
By controlling the flow of information and determining what gets published, editors of "trade-publications" can shape public perception and influence the decisions of consumers and industry professionals.
This gives them a significant amount of power and influence within the fashion industry.
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which of the following correctly describes the accounting for leases? 1. a capital lease reports an asset on the balance sheet. 2. an operating lease reports an operating asset on the balance sheet. 3. a capital lease is not reported on the balance sheet as a liability. 4. an operating lease reports a liability on the balance sheet.
A capital lease reports an asset on the balance sheet in the accounting for leases. Thus, option (1) is correct.
A capital lease (or finance lease) is an arrangement in which the lessor agrees to transfer ownership of the asset to the lessee at the end of the lease period. It gives the lessee the option of purchasing the asset at a discounted price that is less than the market value at the conclusion of the lease period.
A capital lease is a long-term contract that cannot be canceled. If the lease is canceled, the lessee is responsible for any ensuing loss. When the lease period expires, the lessee owns the asset and can collect financing and depreciation costs. A capital lease can be utilized for both a property and an asset.
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A capital lease is a type of lease that is treated as a purchase of an asset, and the lessee recognizes both the leased asset and the corresponding liability on the balance sheet. Option 1 is correct: A capital lease reports an asset on the balance sheet..
This is because the lessee is considered to have obtained control over the leased asset and has the risks and rewards of ownership similar to owning the asset outright. As a result, the leased asset is reported as an asset on the balance sheet, and the corresponding liability is reported as a liability on the balance sheet.
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if you borrow $850,000 for 20 years at 4.875 pr, how much of the loan balance will you pay off during the 11th year of the loan assuming you make only the minimum monthly payments?
At the end of the 11th year, the outstanding loan balance would be $652,701.69. This means that during the 11th year, the borrower would pay off $22,683.07 of the loan balance.
Assuming the loan payments are made on a monthly basis, we can use an amortization schedule to calculate the loan balance at the end of the 11th year. The amortization schedule will show the breakdown of each monthly payment, including the portion of the payment that goes toward interest and the portion that goes toward reducing the principal balance.
Using an online mortgage calculator, we can generate an amortization schedule for a $850,000 loan with a 4.875% interest rate and a 20-year term. Based on this calculator, the monthly payment would be $5,350.09.
Looking at the amortization schedule, we can see that at the end of the 10th year, the outstanding loan balance would be $675,384.76. During the 11th year, the borrower would make 12 monthly payments of $5,350.09 each, totaling $64,201.08. Of this amount, $41,518.01 would go toward interest, and the remaining $22,683.07 would go toward reducing the principal balance.
Therefore, at the end of the 11th year, the outstanding loan balance would be $652,701.69. This means that during the 11th year, the borrower would pay off $22,683.07 of the loan balance.
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the standard hours or quantity allowed for an input is the amount of the input that should have been used to produce the standard output for the period. true false question. true false
The statement "the standard hours or quantity allowed for an input is the amount of the input that should have been used to produce the standard output for the period" is true because standard hours or quantities are predetermined measures of the amount of input that should be used to produce a single unit of output.
In a standard cost system, standard hours or quantities are predetermined measures of the amount of input (such as labor, materials, or overhead) that should be used to produce a single unit of output. These predetermined measures are based on historical data or industry standards and are used to establish the cost of producing a product or providing a service.
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using the internet to streamline global supply systems . group of answer choices eliminates the reliance on local suppliers increases fixed costs creates a vertical hierarchical structure within organizations enhances the efficiency of the supply chain
Using the internet to streamline global supply systems enhances the efficiency of the supply chain.
Option A is correct.
What exactly is supply chain streamlining?
Businesses can gain a better understanding of future customer needs and look beyond tactical order fulfillment by streamlining supply chains. In addition to enhancing product delivery today, streamlining the supply chain is a learning process for future customer service enhancement.
What are the four functions of the supply chain?The four components of the supply chain—integration, operations, purchasing, and distribution—work together to create a cost-effective and competitive path to competition.
Supply chain management :
The management of the flow of goods and services encompasses all processes that turn raw materials into finished goods in supply chain management. It entails actively streamlining a company's supply-side operations in order to maximize customer value and gain a market advantage.
Incomplete question :
Using the Internet to streamline global supply systems ________.
A) enhances the efficiency of the supply chain
B) eliminates the reliance on local suppliers
C) creates a vertical hierarchical structure within organizations
D) increases fixed costs
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what are the three elements required to characterize decisions with uncertain consequences? (select all that apply)
The three elements required to characterize decisions with uncertain consequences the decision alternatives, the outcomes that may occur once a decision is made and the payoff associated with each decision and outcome.
Risk refers to situations where the probabilities of different outcomes can be estimated with some degree of confidence. Uncertainty, on the other hand, describes situations where the probabilities of different outcomes cannot be accurately estimated. This can happen when there is insufficient data, or when the data available is unreliable or incomplete. Ambiguity refers to situations where it is difficult to define the problem or identify the relevant variables, making it hard to even estimate the probabilities of different outcomes.
Together, these three elements can make decision-making complex and challenging, as it can be difficult to determine the best course of action when faced with uncertain consequences. Managers must carefully weigh the potential risks and rewards of different options, and may need to rely on intuition and creativity when data is lacking. Ultimately, effective decision-making in uncertain contexts requires a willingness to take calculated risks, embrace uncertainty, and remain flexible in the face of ambiguity. The correct option is 1, 2 and 3.
The complete question is:
What are the three elements required to characterize decisions with uncertain consequences? (Select All that Apply)
1. The decision alternatives.
2. The outcomes that may occur once a decision is made.
3. The payoff associated with each decision and outcome.
4. The research model of the payoff table.
5. The objective function for the outcomes.
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The chief executive officer earns $10,160 per month. As of May 31, her gross pay was $50,800. The Federal Insurance Contributions Act (FICA) tax rate for Social Security is 6.2% of the first $137700 earned each calendar year and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45% of all earings. The current Federal Unemployment Taxes (FUTA) tax rate is 0.6%, and the State Unemployment Taxes (SUTA) tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. What is the amount & Federal Insurance Contributions Act (FICA)-Social Security withheld from this employee for the month of June? Multiple Choice O $7464.55 O $27220 O $294.64 O $62992 O $22594
The amount of FICA-Social Security withheld from this employee for the month of June is $629.92. The correct option is O $629.92
To find the amount of Federal Insurance Contributions Act (FICA) - Social Security withheld from the employee for the month of June:
1. Determine the CEO's gross pay for June.
Since the CEO earns $10,160 per month and her gross pay as of May 31 was $50,800, add the monthly salary to the gross pay as of May 31:
$50,800 + $10,160 = $60,960
2. Calculate the Social Security taxable income.
The FICA tax rate for Social Security is applied to the first $137,700 earned each calendar year. Since the CEO's gross pay so far ($60,960) is less than $137,700, the entire June salary will be subject to Social Security tax.
3. Calculate the FICA-Social Security withholding for June.
Apply the 6.2% tax rate to the June salary:
$10,160 * 0.062 = $629.92
The amount of Federal Insurance Contributions Act-Social Security withheld from this employee for the month of June is found to be $629.92. Hence answer is choice: O $629.92
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