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3 years ago

On average, the largest portion of the cost of living during retirement goes to

1 answer:

6 0

It goes to housing. At 75 years and more seasoned, normal spending was just $34,000, however medicinal services costs may shoot up for some. We are in our mid-50's and carry on with an unassuming yet agreeable way of life, which at present costs us about $4,500 a month, notwithstanding lodging.

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Kingbird Construction Company changed from the completed-contract to the percentage-of-completion method of accounting for long-

sergey [27]

Answer:

a) 2021 year income: 526,540

b) journal entries

income tax expense 225.660‬ debit

income tax deferred liability (*1) 49.650‬ debit

income tax payable 176.010‬ credit

Explanation:

Year Accounting Tax purpose Difference

2020 752200 586700 165500

2021 683500 444700 238800

2021

752,200 x 30% = 225,660

after tax income: 526.540‬

2022

683,500 x 30% = 205,050

after tax income: 478.450‬

We recognize the income tax expense n the accounting method of revenue/expense recognizition

while, the payable will use the goverment purposes.

Then, the differnce wi considered either income tax deferred.

*1 it is a liability as the company is paying lower taxes to day to pay more than before.

3 0

3 years ago

Marcus (20) attends State University and is a qualifying student for the purpose of the American Opportunity Tax Credit (AOTC).

hodyreva [135]

The maximum AOTC that can be claimed by Andre’s parents is $2,500.

American Opportunity Tax Credit means a tax credit on education expenses which are incurred within first four years of a student’s higher education.

The full tax credit is allowed when modified adjusted gross income is $160,000 or less.

100% of first $2000 spent on education expenses and 25% of next $2000 of qualifying education expenses.

Maximum AOTC = $ 2000 + (0.25 × $2000)

Maximum AOTC = $2000 + $ 500

Maximum AOTC = $2500

Therefore, the maximum AOTC that can be claimed by Andre’s parents is $2,500.

Read more about adjusted gross income

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8 0

3 years ago

Janes, Inc., is considering the purchase of a machine that would cost $410,000 and would last for 5 years, at the end of which,

ki77a [65]

Answer:

- $33,678.21

Explanation:

Cash flow Summary of the Project will be as follows

Year 0 = $410,000 + $3,000 = - $413,000

Year 1 = $101,000

Year 2 = $101,000

Year 3 = $101,000

Year 4 = $101,000

Year 5 = $101,000 + $41,000 + 3,000 = $145,000

So the Net Present Value can now be calculated using the CFj function of a Financial calculator as follows :

- $413,000 CF 0

$101,000 CF 1

$101,000 CF 2

$101,000 CF 3

$101,000 CF 4

$145,000 CF 5

i/yr = 13%

Shift NPV = - $33,678.21

5 0

3 years ago

The only producer of chocolate bunnies in the world, Choco's Bunny Company, recently expanded its production capacity from 1,000

Sophie [7]

Answer:

19.82%

Explanation:

Midpoint method = Q2 - Q1 / [(Q2 + Q1) / 2] / P2 - P1 / [(P2+P1) / 2]

3.33 = 2000 - 1000 / [(2000 + 1000) / 2] / P2 - P1 / [(P2+P1)/2]

3.33 = 0.66 / (P2 - P1) / [(P2+P1)/2]

By cross multiplying we have

0.66 = 3.33 [ (P2 - P1) / [(P2+P1)/2]

divide both sides by 3.33

19.82% = The mid point change in price.

5 0

3 years ago

why might a company decide to outsource (i.e., buy) a product that they currently make in their company-owned operations?

mestny [16]

Companies outsource to save costs or improve the value of their goods. There are several options when deciding whether to outsource a business' operations or production.

The use of outsourcing has increased as a way for businesses to cut expenses and concentrate on what they do best. A business precise known as outsourcing involves a corporation hiring a third party to carry out duties, manage operations, or offer services on their behalf.

Reduce and manage operating expenses. Enhance the company's focus. liberate internal resources for fresh endeavors. Increase output for some time-consuming tasks for which the organization may lack the resources.

The finest examples of outsourcing include website creation, office and warehouse cleaning, and advertising.

To learn more about outsourcing

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3 0

1 year ago