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4 years ago

What is the difference between a prepaid tuition plan and a college savings plan?

Business

2 answers:

Sonja [21]4 years ago

8 0

Answer:

College Savings Plan

Explanation:

APEX

andre [41]4 years ago

5 0

Prepaid tuition is just what it says - prepaid, however a college savings plan helps you space out how to pay for college as you earn and go to school.

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Taco Loco is unsure whether the amount of beef that their computer thinks is in inventory is correct. What is the range in value

STALIN [3.7K]

Answer:

C: 17.78-30 pounds

6 0

4 years ago

In February 2018, Brilliant Industries purchased the Topaz Mine at a cost of $10,000,000. The mine is estimated to contain 500,0

morpeh [17]

Answer:

B. Depletion will be $950,000 during 2018

Explanation:

Cost $10,000,000

Residual Value ($500,000)

Cost to be depleted $9,500,000

No. of Carats to be extracted over the life of mine 500,000

Per carat depletion (9,500,000/500,000) $19

Depletion for the year 2018 $19*50,000=$950,000

This will be deducted from revenue as depletion for the year.So option B is correct.

8 0

3 years ago

In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following ord

Dahasolnce [82]

Answer:

Find the detailed answer below

Explanation:

January 1 300 units at $5 $1,500

January 8 500 units at $9 $4,500

January 29 910 units at $10 $9,100

1,110 units are available at the end of the month. That means 600 units were sold

A. Under FIFO

1. Cost of goods available for sale:

$1,500 + $4,500 + $9,100 = $15,100

2. Cost of goods sold

300 units at $5 $1,500

300 units at $9 $2,700

Total $4,200

3. Ending inventory

200 units at $9 $1,800

910 units at $10 $9,100

Total $10,900

B. Under LIFO(Last in First Out)

1. Cost of goods available for sale:

$1,500 + $4,500 + $9,100 = $15,100

2. Cost of goods sold

600 units at $10 $6,000

Total $6,000

3. Ending inventory

310 units at $10 $3,100

500 units at $9 $4,500

300 units at $5 $1,500

Total $9,100

C. Weighted average cost flow assumption: Cost of goods available for sale / total units

1. Cost of goods available for sale:

$1,500 + $4,500 + $9,100 = $15,100

2. Cost of goods sold

$15,100 / 1,710 = $8.83

$8.83 x 600 = $5,298

3. Ending inventory

$8.83 x 1,110 = $9,801.3

Under perpetual Inventory System

Between January 9 and January 28. The prevailing price that will be used to sell the inventory will be the price at January 8($9)

1. Cost of goods available for sale:

$1,500 + $4,500 + $9,100 = $15,100

2. Cost of goods sold

600 units at $9 $5,400

Total $5,400

3. Ending inventory

1,110 units at $9 $9,990

Total $9,990

6 0

3 years ago

Under the rule of 70, if the GDP per capita growth rate in the United States is 2.3%, standards of living double every:

asambeis [7]

Under the rule of 70, if the GDP per capita growth rate in the United States is 2.3%, standards of living double every 70/2.3 = 30.43 years.

<h3>What is Gross Domestic Product (GDP)?</h3>

The term "Gross Domestic Product," or GDP, refers to the total monetary worth of all finished goods and services produced (and marketed) within a nation within a specific time period (typically 1 year).

GDP Growth Rate:

The GDP growth rate compares the most recent quarter or year to the preceding one and represents the percentage change in real GDP (GDP adjusted for inflation) from one period to the next.
A positive or negative number may be used (negative growth rate, indicating economic contraction).

GDP per capita:

By dividing nominal GDP by a nation's entire population, one can get GDP per capita.
It conveys the nation's average economic output (or income) per person.
The population figure corresponds to the year's median (or mid-year) population.

The price deflator, a statistical tool, is used to convert nominal GDP to constant prices.

To know more about Gross domestic product (GDP), here

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8 0

2 years ago

Belden, Inc. acquires 30 percent of the outstanding voting shares of Sheffield, Inc. on January 1, 2017, for $312,000, which giv

Oksi-84 [34.3K]

Answer:

how much income would Belden report for 2017 and 2018 in connection with the company's investment in Sheffield

2017: $54,000

2018: $69,000

total $123,000

Explanation:

the journal entries used to record the investment in Sheffield Inc. are:

January 1, 2017

Dr Investment in Sheffield Inc. 312,000

Cr Cash 312,000

the adjustments entries necessary for 2017 are:

December 31, 2017, dividends are distributed

Dr Cash 21,000 (= $70,000 x 30%)

Cr Investment in Sheffield Inc. 21,000

December 31, 2017, net income is reported

Dr Investment in Sheffield Inc. 54,000 (= $180,000 x 30%)

Cr Revenue from investment in Sheffield Inc. 54,000

the adjustments entries necessary for 2018 are:

December 31, 2018, dividends are distributed

Dr Cash 24,000 (= $80,000 x 30%)

Cr Investment in Sheffield Inc. 24,000

December 31, 2018, net income is reported

Dr Investment in Sheffield Inc. 69,000 (= $230,000 x 30%)

Cr Revenue from investment in Sheffield Inc. 69,000

7 0

3 years ago