Answer:
Because of its importance in summarizing your strategy, the Introduction and Overview of your business plan should be written last-B.
What amount should be recorded as Bad Debt Expense for the current year?
Not yet due:
22,000
Estimated Percentage Uncollectible: 3%
Estimated Amount Uncollectible: 660
Up to 120 days past due:
6500
Estimated Percentage Uncollectible: 14%
Estimated Amount Uncollectible:
910
Over 120 days past due:
2800
Estimated Percentage Uncollectible: 34%
Estimated Amount Uncollectible: 952
Estimated Balance in allowance for doubtful accounts: 2522
Current balance in allowance for doubtful accounts: 1200
Bad Debt Expense for the Year: 1322
<span>Goal = accumulate $700 in savings
</span><span>Saving = $30 a month
</span><span>
To solve:
Take the goal savings amount of $700 and divide the amount that is going into the savings monthly, $30 by it.
</span><span>$700/$30 = 23.33 months
</span><span>If sticking to a full month goal, it would take 24 months for the savings to be at $700.
</span>
Answer:
$38,720
Explanation:
From the given information:
Using Schedule 1 (Form 1040), Additional Income & Adjustment to Income.
The taxable income can be determined as follows:
Particulars Form Amount($)
Wages (Form 1040, Line 1) 36,000
Add: Unemployed Income Schedule 1, Line 7 4,320
<u>Add: Gambling winning Schedule 1, Line 8 500</u>
Total Income $40,820
<u>Less: Student loan Interest Schedule 1, Line 20 2,100</u>
Taxable income $38,720
Answer: B. Operating income will increase by $ 45,000
Explanation:
Total fixed cost = $833,000
Sale price per unit = 60
Variable cost per unit = 30
Advertising = $30,000
Increase in sales volume = 2500
The contribution margin is the difference between the sales price per unit and the variable cost per unit.
= 60 - 30
= 30
Therefore, Hence the increase in the contribution margin will be:
= ($30 × 2500)=$75000
We then subtract the additional cost of $30,000 from $75,000. This will be:
= $75,000 - $30,000
= $45,000
Therefore, operating income will increase by $45,000
