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1. This year, Mr. Joss (age 26 and in the 28 percent marginal tax bracket) accepted a job with BL Inc. He intends to work for only eight years, then start his own business. He has two options for accumulating the money he will need for this business. Option 1:He is eligible to participate in BL's Section 401(k) plan and can afford to save $5,000 of his salary each year by diverting it to this plan. The plan earns 10 percent a year. Consequently, his plan balance in eight years will be $57,179 ($5,000 for eight years compounded at 10 percent). Option 2:He can take his entire salary in cash, pay income tax, and save $3,600 ($5,000 less $1,400 tax) in an investment fund that earns 10 percent a year. Because the annual earnings are taxable, his savings in the fund will grow at only 7.2 percent a year. Consequently, his fund balance in eight years will be $37,202 ($3,600 for eight years compounded at 7.2 percent). Assuming a constant 28 percent tax rate, which option results in the greatest after-tax cash for Mr. Joss to begin his business?
Scobie Corporation's fixed monthly expenses are $16,000 and its contribution margin ratio is 57%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $69..
Record the events in general ledger accounts under an accounting equation. In the last column of the table, provideappropriate titles for the Retained Earnings Amounts.
Sales revenues are $800,000 for 2012, sales returns and allowances are $45,000, and the allowance for doubtful accounts has a credit balance of $9,000. Prepare the adjusting entry to record bad debts expense in 2012.
prepare amonthly flexible selling expense budget for prater company for sales volumes of 250000 440000 and 770000 based
courier express inc. is considering the purchase of an additional delivery vehicle for 48000 on january 1 2012. the
Draw T accounts where possible/relevant. Prepare J/E for each of the transactions. Transfer the J/E to ledger accounts (make up a simple Chart of Accounts and use the numbers in the ledger Accts and J/E).
Expensens accrued and still unpaid were $6,000 as at December 31, 2007, and $9,000 as at December 31, 2008. Can you show the computation of expenses on the accrual basis for the year 2008?
vista corporation which has current earnings and profits ceampp of 10000 and accumulated earnings and profits aeampp of
you examine the financial statements of a firm and find that for every unit of product y sold the firm sells 1.5 units
In the year 2007, the company is estimating its property tax to be $3,600 for the year.
On March 1, Maria purchased a new laptop computer for her business at a cost of $1,850. Maria also purchased a new laser printer/photocopier combination at a cost of $840 on the same date. In April, Maria purchased computer software to use in he..
during 2013 ted and judy a married couple decided to sell their residence which had a basis of 300000. they had owned
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