I use my credit card to help my friends buy stuff they cannot afford
Answer: A) Federal National Mortgage Association pass-throughs.
Explanation:
From the question, we are informed that a resident of Minnesota is in the 28% federal tax bracket and the 4% state tax bracket. This person must pay both federal and state taxes on Federal National Mortgage Association pass-throughs.
It should be noted that the securities of most government agencies in the United States are typically exempted from paying the local and state taxes but they have to pay federal taxes.
Answer:
13.28%
Explanation:
return on stockholders' equity = net income after taxes and preferred stock dividends / average stockholders' equity
- net income = $1,429,000
- preferred stocks dividends = 8,000 stocks x $75 x 6% = $36,000
- average stockholders' equity = ($10,317,000 + $10,662,000) / 2 = $10,489,500
return on stockholders' equity = ($1,429,000 - $36,000) / $10,489,500 = 13.28%
Answer:
$ 1733
Explanation:
Cost Marginal Investment in Accounts Receivable = Marginal Investment in Accounts Receivable * firm's required return on investment
Marginal Investment in Accounts Receivable = Average Investments Under proposed Plan - Average Investments Under present Plans
Average Investments in Accounts Receivable = Total variable cost of annual sales / Turn over of account receivables
Turn Over of account receivables = 360/ average collection period.
Using above formula for calculation , Answer = $ 8665 * 20% = $ 1733
Answer:
job N° 1376 manufacturng overhead 2,560
Explanation:
For this company, the overhead is calculate based on direct labors.
It will be calculated by multiplying the cost driver by the overhead rate:
<em>overhead rate x direct labor hours of job:</em>
14.00 x 160 = 2,560
6,400 will be the allocate overhead for job N° 1376
This will latter be compare with the actual overhead to check for underapplied or overapplied overhead and adjust hte difference.