Describe why social security is considered a retirement account?

Target donates millions of dollars each year in education-related grants for arts and cultural experiences, field trips, and rea

melomori [17]

Answer:

Philanthropy

Explanation:

Target donates millions of dollars each year in education - related grants for arts and cultural experiences , field trips , and reading programs , as well as grants to promote public safety . This is an example of Philanthropy.

Philanthropy means giving things like money or any kind of gift to people for are need of that.

Philanthropy is good , it helps in solving the social problem .

There is a little difference is charity and Philanthropy , that is , Charity is short - term while Philanthropy is long - term. Charity tends to be emotional and have immediate response on the other hand philanthropy is more strategical .

Philanthropy always focuses on eliminating social problem.

8 0

3 years ago

Ivanhoe Windows manufactures and sells custom storm windows for three-season porches. Ivanhoe also provides installation service

Anna71 [15]

Answer:

Ivanhoe Windows

a. Journal Entries:

September 1, 2020:

Debit Cash $1,920

Credit Sales Revenue $1,920

To record the sale of windows to Geraths.

Debit Cost of goods sold $1,120

Credit Inventory $1,120

To record the cost of goods sold.

October 15, 2020:

Debit Cash $450

Credit Installation Revenue $450

To record the completion of installation service.

b. Journal Entries:

September 1, 2020:

Debit Cash $1,920

Credit Sales Revenue $1,896

Credit Unearned Revenue $24

To record the sale of windows to Geraths.

Debit Cost of goods sold $1,120

Credit Inventory $1,120

To record the cost of goods sold.

October 15, 2020:

Debit Cash $450

Debit Unearned Revenue $24

Credit Installation Revenue $474

To record the completion of installation service.

c. If Geraths is unable to develop a reliable estimate for the fair value of the installation:

Journal Entries:

September 1, 2020:

Debit Cash $1,920

Credit Sales Revenue $1,920

To record the sale of windows to Geraths.

Debit Cost of goods sold $1,120

Credit Inventory $1,120

To record the cost of goods sold.

October 15, 2020:

Debit Cash $450

Credit Sales Revenue $450

To record the completion of installation.

Explanation:

a) Data and Calculations:

July 1, 2020, Contract Price = $2,370

Standalone selling price of window = $1,920

Cost of the window = $1,120

Standalone selling price of installation service = $590

Attributed selling price of installation service = $450 ($590 = $140)

b) Estimated standalone value of the installation = estimated cost + 20% on cost

= $400 + 20% = $480 ($400 * 1.2)

Separate performance values:

Sale of window = $1,920 = $1,896 ($1,920/$2,400 * $2,370)

Installation = 480 = 474 ($480/$2,400 * $2,370)

Total = $2,400 = $2,370

c. If Ivanhoe Windows is unable to develop a reliable estimate for the fair value of the installation, both payments received will be attributed to the Sales Revenue without identifying separate performance values.

6 0

2 years ago

Adam borrowed money to buy a new car. The bank now has a lien on the car. What could happen if Adam doesn't make his payments on

larisa [96]

The correct answer is A The bank could sell the car.
The bank could take back the car and sell it to recover its money.

6 0

2 years ago

Read 2 more answers

Presented below are four statements which you are to identify as true or false.

slavikrds [6]

Answer:

1. GAAP is the term used to indicate the whole body of FASB authoritative literature. TRUE.

The Financial Accounting Standards Board are the authors of the GAAP and as such GAAP is used to indicate the whole body of their literature.

2. Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. FALSE.

To claim compliance with GAAP, all standards and interpretations including Disclosure requirements should be followed.

3. The primary governmental body that has influence over the FASB is the SEC. TRUE.

The Securities and Exchange Commission (SEC) is the Government body that is meant to oversee the application of Accounting standards and as such, they have influence over the FASB.

4. The FASB has a government mandate and therefore does not have to follow due process in issuing a standard. FALSE.

Even though they have a Government mandate, the FASB must follow due process when establishing principles so that people might be able to contribute to or criticize the guidelines should they please.

4 0

2 years ago

he Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the u

Elodia [21]

Answer:

1. Total estimated direct labor cost = $148,800

2. Total estimated manufacturing overhead cost = $410,880

3. Total Cash disbursement for the fiscal year = $254,880

Explanation:

Please see attached detailed explanation of the above questions and answers.

8 0

2 years ago