Answer:
in order for Henry's child to qualify as a dependent, the following requisites must be met:
- since the child is disabled, there is no age limit, but he/she must live with Henry and Henry must pay for at least half of his/her expenses
- the disability must be permanent and total (a letter from a doctor, social service worker, or social service agency that provides proof of this is required
- the child must be Henry's son or daughter, or legally adopted child
- Henry must have earned income (i.e. Henry must work)
- Henry's investment income (besides earned income) must be less than $3,650 during the last year
- Henry must file as single filer or head of household
- Henry must not have received foreign income
The family’s finance deployability checklist will prompt you to make sure the arrangements for the preparation of your family's tax return. It is under financial list on the family’s checklist. Family deployability checklist includes transport, health, and administrative.
Answer:
This question has two requirements answer of each requiremnt is given below.
Dispose of the overhead variance by adjusting Cost of Goods Sold. Adjusted COGS $____
Applied Overhead = 532,000 * 80% =$ 425,600
This show that overhead are over apllied, so
Adjusted COGS = $1,890,000 - (425,600 -423,600)
= $ 1,888,000
Calculate the overhead variance for the year. $____
Overhead variance = Applied Overhead - Actual Overhead
= 425,600 -423,600
= $ 2000 (Favorable variance)
Answer:
Incorrect Statement about the Statement of Cash Flows:
c. The cash dividends of $201,000 paid will be reported as a cash outflow in the cash flow from investing activities section.
Explanation:
Cash dividends of $201,000 will be reported as a cash outflow in the financing activities section and not the investing activities section.
Statement of Cash Flows is broadly divided into three, the operating, investing, and financing activities sections. The operating activities section show the cash flows from the normal business of the enterprise. The investing activities section shows the acquisition and disposal of investments made by the company in cash. While, the financing section shows the inflow and outflow of cash resulting from the funding of the business by stockholders and noncurrent creditors.
Yes, It would be advantageous for wynn manufacturing corporation if the cranston division makes the investment under consideration.
- Since managers are charged with maximizing the potential of their own units, it is crucial to frequently assess their performance in the workplace.
- Target measurements can be used to assess managers of investment centers' performance.
- Businesses typically have a target or targeted rate of return they would like to reach in order to assess a project's viability.
- It is profitable for the firm as a whole to move forward with the project in this case because the project's projected return of 18% is higher than the company's desired rate of return of 16%.
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