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3 years ago

Are scholarships included in gross income

Business

1 answer:

GarryVolchara [31]3 years ago

7 0

Answer:

Generally, you report any portion of a scholarship, a fellowship grant, or other grant that you must include in gross income as follows: If filing Form 1040 (PDF), include the taxable portion in the total amount reported on the "Wages, salaries, tips" line of your tax return

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Dvorak Company produced 1,000 units of product that required 3 standard hours per unit. The standard variable overhead cost per

valentina_108 [34]

Answer:

The variance is 4,000 - 4,200 = -200 (favourable variance).

Explanation:

To know the production variance in this exercise, we first need to know the total standard cost, then calculate the difference between the actual cost and the standard one.

Total standard cost = production volume x hour used per one unit produced x overhead cost per hour = 1,000 x 3 x 1.4 = 4,200

So, the variance is 4,000 - 4,200 = -200 (favourable variance).

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3 years ago

If redbox is successful at attracting customers to a location, then mcdonald's could possibly realize

ahrayia [7]

Fast food locations would most likely have good success with deploying Redbox booths at their locations. Consumers are always looking for a more convenient location to return or pick up their movies as well as feed themselves.

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3 years ago

Equity method journal entries (price greater than book value) An investor purchases a 25% interest in an investee company, and t

Crazy boy [7]

Answer:

See answer an explanation below.

Explanation:

The journal entries will look as follows:

General Journal

Description Debit ($) Credit ($)

Equity investment 145,000

Cash 145,000

(To record purchase of investment.)

Cash 25,000

Income from equity investment (w.1) 25,000

(To record equity income.)

Cash 20,000

Equity investment 20,000

(To record receipt of cash dividend.)

Income from equity investment 2,000

Equity investment (w.2) 2,000

(To record patent amortization expense.)

Cash 180,000

Gain on sale of equity invest. (w.4) 32,000

Equity investment (w.3) 148,000

(To record sale of investment.)

Workings

w.1: Income from equity investment = Investee's net income * Percentage of interest = $100,000 * 25% = $25,000

w.2: Equity investment = (Patent value / Remaining useful life) * Percentage of interest = ($80,000 / 10) * 25% = $8,000 * 25% = $2,000

w.3: Equity investment = $145,000 + $25,000 - $20,000 - $2,000 = $148,000

w.4: Gain on sale of equity investment = Sales proceed - w.3 = $180,000 - $148,000 = $32,000

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3 years ago

Explain how a manager at a Subway or any fast food restaurant restaurant can use feedforward control to get the best customer sa

egoroff_w [7]

Customer satisfaction is increased as a result of quality management, which also enables businesses to meet customer expectations. One of the key areas where businesses need to be knowledgeable enough is in the service quality.

<h3>What is Subway or any fast food restaurant?</h3>

One of the top brands on the global market is Subway, which places a high priority on maintaining the quality of its products and providing excellent customer service.

Some key features regarding the subway are-

It consistently emphasizes the quality of the ingredients as well as the eventual deliverables in its marketing methods.
The business is committed to providing natural food products that are healthful and free of artificial additives and calories.
The customers' health is directly correlated with the meal quality.
To remain competitive in the marketplace and achieve its goal of being the healthiest alternative in the fast food sector, the company must maintain the quality of the items.

To know more about the subway, here

brainly.com/question/27207234

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2 years ago

Nico is saving money for his college education. He invests some money at 99%, and $17001700 less than that amount at 4 %.4%. T

Rufina [12.5K]

Answer:

Nico invest $2500 at 9% interest rate and $800 at 4% interest rate.

Explanation:

He invests some money at 9%, and $1700 less than that amount at 4 %.

Let Nico invest $x at 9%.