The answer to this question is a modified endowment contract. A modified endowment contract or MEC is a type of life insurance policy where in the policy/ insurance is being funded with more money or the insurance premium payment exceeds the amount allowed under the federal law. The modified endowment contracts are taxable.
Answer:
ROA = 6.6%
ROE 14.52%
Explanation:
profit margin = net income / sale = 12%
assets turn over = sales / assets = 0.55
equity mutiplier = assets / equity = 2.2
ROE = return on equity = net income / equity
ROA = return on equity = net income / assets
we use the fraction properties to get ROE and ROA
ROA = 6.6%
We apply the same property to get ROE
ROE = 14.52%
Answer:
$427,000
Explanation:
Calculation for what the value of the inventory reported on the balance sheet would be
Value of the inventory= $139,000 + $93,000 + $195,000
Value of the inventory = $427,000
Therefore the value of the inventory reported on the balance sheet would be $427,000
Answer:
Fund: General Fund,
Function/Program: Public Safety,
Organizational Unit: Police Department,
Activity: Patrol services,
Object: Uniforms
Explanation:
Fund: General Fund,
Function/Program: Public Safety,
Organizational Unit: Police Department,
Activity: Patrol services,
Object: Uniforms
Answer:
d. $166,000
Explanation:
Under the weighted average method, cost to be accounted =
cost ending work in process inventory of $18,000 + cost of unit to be transfer out of $148,00