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Shtirlitz [24]
3 years ago
10

Lori, a self-employed pediatrician, currently earns $200,000 annually. Lori has been able to save 15%of her annual Schedule C ne

t income. Assume that Lori paid $19,000 in social security taxes, and that she plans to pay off her mortgage at retirement, thereby relieving her of her only debt. Lori presently pays $4, 333.33 per month toward the mortgage. Based on the information provided herein, what do you expect Lori's wage replacement ratio to be at retirement?
41.0%.
49.5%.
59.0%.
67.0%.
Business
1 answer:
Dafna11 [192]3 years ago
7 0

Answer:

49.5%.

Explanation:

% of salary towards social security tax = (19000/200,000)*100

                                                                = 9.5%

% of savings = 15%

Yearly mortgage payments = 4333.33*12

                                              = 52000

% of mortgage payments = (52000/200,000)*100

                                          = 26%

Replacement ratio = 100% - ( 9.5% + 15% + 26%)

                               = 49.5%

Therefore, You would expect Lori's wage replacement ratio to be 49.5% at retirement.

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The Bear Rug has sales of $811,000. The cost of goods sold is equal to 63 percent of sales. The beginning accounts receivable ba
irina1246 [14]

Answer:

The average collection period is 17.78 days.

Explanation:

In this question, we have to first compute the average receivable turnover ratio.  

The formula of the average receivable turnover ratio is shown below:

= Net credit sales ÷ Average accounts receivable

where,

Net credit sales are $811,000

And, the average accounts receivable equals to

= Beginning account receivable + ending accounts receivable ÷ 2

= $41,000 + $38,000 ÷ 2

= $39,500

So, the average receivable turnover ratio equals to

= $811,000 ÷ $39,500

= 20.53

Now, we calculate the average collection period, the formula is shown below

= Total Number of days in a year ÷ average receivable turnover ratio

= 365 ÷ 20.53

= 17.78 days.

Hence, the average collection period is 17.78 days.

3 0
3 years ago
Assuming everything else stays the same, an increase in the price of laptop computers will __________ of laptop computers. a) de
tia_tia [17]

Answer:

a) decrease the quantity demanded

Explanation:

According to the law of demand, an increase in the price of a good reduces the quantity demanded for that good.

8 0
2 years ago
As liv golf expands to 14 events in 2023, how much money will be available to competitors in the upcoming season?.
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There will be $405 million available to contestants in the following season as LIV golf grows to 14 events in 2023.

<h3><u>LIV golf - what is it?</u></h3>

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4 0
1 year ago
Carrying Amount $120,000 Selling Price $80,000 Costs of Disposal $5,000 Expected Future Cash Flows $90,000 Present Value of expe
frez [133]

Answer:

$35,000

Explanation:

Under IAS 36, an asset is said to be impaired where the carrying amount is more than the recoverable amount.

The recoverable amount is the higher of the fair value less cost to sell or the value in use which is the present value of the expected future cashflow.

Given that;

Carrying Amount = $120,000

Selling Price = $80,000

Costs of Disposal = $5,000

Hence fair value less cost to sell = $80,000 - $5,000 = $75,000  

Expected Future Cash Flows = $90,000

Present Value of expected future cash flows = $85,000 ( this is the value in use)

Recoverable amount = $85,000 (since the value in use is higher that the fair value less cost to sell)

This is lower than the carrying amount hence the asset is impaired.

Impairment = $120,000 - $85,000

= $35,000

8 0
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