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bogdanovich [222]

3 years ago

8

The current federal minimum wage is $7.25 and has been since 2009. how much does a full-time minimum-wage worker earn per month

before taxes

1 answer:

denis-greek [22]3 years ago

4 0

They would earn about $1798 each month

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Martin transfers real estate with an adjusted basis of $260,000 and fair market value of $350,000 to a newly formed corporation

katrin [286]

Answer:

$40,000

Explanation:

We can calculate recognized gain on the transfer and basis for his stock just by deducting adjusted basis value from liability on the transfered real estate.

Calcuation

iability on the transfered real estate $300,000

less: adjusted basis value ($260,000)

Gain recognized $40,000

3 0

3 years ago

Read 2 more answers

A company assigns overhead using a plantwide rate. If total estimated manufacturing overhead is $900,000 and the total estimated

ozzi

Answer:

Overhead application rate

= <u>Budgeted overhead</u>

Budgeted machine hours

= <u>$900,000</u>

30,000 hours

= $30 per machine hour

Overhead cost assigned to the product

= Overhead application rate x Actual machine hours

= $30 x 12,000 hours

= $360,000

Explanation:

In this case, there is need to determine the overhead application rate, which is the ratio of budgeted overhead to budgeted machine hours.

Then, we will obtain the overhead cost assigned to the product by multiplying the overhead application rate by actual machine hours.

3 0

3 years ago

A project that cost $80000 with a useful life of 5 years is being considered. Straight-line depreciation is being used and salva

mina [271]

Answer:

8.13%

Explanation:

Annual return = [ (Total FV/Initial investment)^(1/n) ] -1

n = useful life of the project

Total Future Value = (22650*5) +5000

Total FV = $118,250

Initial investment = $80,000

Annual return = [ (118,250/80,000)^(1/5) ] -1

r = [ (1.478125^(1/5)] -1

r = 1.0813 - 1

r = 0.0813 or 8.13%

6 0

3 years ago

An increase in spending of $25 billion increases real gdp from $600 billion to $700 billion. The marginal propensity to consume

maksim [4K]

An increase in spending of $25 billion increases real gdp from $600 billion to $700 billion. The marginal propensity to consume must be "4".

<h3>What do you mean by Marginal Propensity to consume?</h3>

The marginal propensity to consume is refers to as the proportion of any change in income that is spent on consumption.

In economics, this term is used to refer to the measurement made in order to determine consumption when the rent is increased by one unit. This measurement is nothing more than a mathematical relationship to calculate how people invest in consumption or save the income that is increased.

Calculation:

$MPC=\frac{change in consumption}{change in income} \\MPC=\frac{100}{25} \\MPC=4$

Learn more about Marginal Propensity to consume, refer to the link:

brainly.com/question/19089833

#SPJ4

5 0

2 years ago

Open a general journal for the City of Monroe Community Foundation Trust Fund and record the following transactions for the year

ICE Princess25 [194]

Answer:

The beginning part of the question is found below:

The City of Monroe Scholarship Foundation private-purpose trust fund had the following account balances on January 1, 2017:

Debits Credits

Cash $49,500

Accrued Interest Receivable $7,500

Investments in Corporate Bonds $750,000

Net Assets Held in Trust $807,000

Totals $ 807,000 $ 807,000

Find below the necessary journal entries in the explanation section:

Explanation:

The interest received =6%*$750,000*6/12=$22,500

Dr Cash $22,500

Cr Interest income(balance) $15,000

Cr Accrued interest receivable $7,500

Additional funds of $205,500 received:

Dr Cash $205,500

Cr donation income $205,500

the investment of $200,000 in corporation stock

Dr investment in corporation stocks $200,000

Cr Cash $200,000

receipt of half of the year annual interest on bonds(as calculated above at $22,500)

Dr cash $22,500

Cr Interest income $22,500

cash is debited when there is an inflow and credited in case of outflows

The investment account is debited because it is an asset

8 0

3 years ago