Answer: The correct answer is "(A) Debit Accounts Receivable and credit Cash for $560".
Explanation: The non-existent 560 must be adjusted in the cash account, and the 560 receivable must be added to the third party that issued the check in the "accounts receivable" account.
The entry would be:
--------------------------------- . ------------------------------------------
Accounts Receivable 560
Cash 560
--------------------------------- . --------------------------------------------
Answer:
The money in the 401(k) account is not taxed until withdrawn.
Explanation:
A 401 (k) can be defined as a type of compensation (savings) plan that is being sponsored by a business firm or company (employer) to avail its employees the opportunity to contribute into. As a company-sponsored and defined-contribution retirement savings plan, it offers tax advantages to the employees because it reduces their income tax for the particular year while taxing their withdrawals.
A good reason to contribute to a 401 (k) retirement account is that, the money in the 401 (k) account is not taxed until withdrawn. Thus, the money contributed by an employee to a 401 (k) will maintain its tax-deferred status until he or she withdraws it.
For example, a 401 (k) would be the best retirement savings option for a 50-year old medical doctor whose employer offers a 5% contribution match.
Answer:
4.5% annual interest.
Explanation:
Assuming that we are talking about a specific Savings Account then we can say that the average APY on a savings account such as HSBC savings is 2.5% per year. On the other hand, the stock market has an average APY of 7% annually. Therefore, in order to find how much you would lose by putting your money in a savings account, we would need to subtract the savings account APY from the stock market APY.
7% - 2.5% = 4.5%
We can see that what you would lose in opportunity cost is 4.5% annual interest.
b. project scheduling helps make better use of resources by identifying the non-critical paths through the network. It would identify criticle paths
Answer:
$369,720
Explanation:
The computation of the amount record the new equipment for financial accounting purpose is shown below:
Book value of new equipment = book value of old equipment + cash given
where,
Book value of old equipment is $83,720
And, the cash paid for new equipment is $286,000
SO, the book value of new equipment is
= $83,720 + $286,000
= $369,720
