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3 years ago

What is the benefit of a 529 education saving plan?

Business

1 answer:

Fofino [41]3 years ago

7 0

Answer:

The second statement is true.

Explanation:

The school is dependent on what state the 529 is registered with.
Option 3 is not a benefit
529 contributions are made with after tax dollars, only interest earned and distributions are tax deffered.

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Which statement concerning lower-of-cost-or-net-realizable-value (LCNRV) is incorrect? LCNRV is an example of a company choosing

liberstina [14]

Answer:

The LCNRV basis is justified because of a decline in the selling price of the inventory item

Explanation:

The accounting standard for Inventory under IFRS IAS 2 requires that inventory be recognized at cost which includes all the cost incurred to bring the item of inventory to a state or place where the item of inventory becomes available for sale.

These costs includes cost of purchase, freight, Insurance cost during transit etc.

Subsequently, inventory is to be carried at the lower of cost or net realizable value.

This is justified where there is a decline in the selling price of inventory as it ensures that the amount stated in the books is fairly representative of the amount that may be realized from the sale of the inventory items.

6 0

3 years ago

Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1,

k0ka [10]

Answer:

Job 93 Job 94 Job 95 Job 96

1. Labor Hours 120 300 145 50

2. Overhead applied rate $906 $2,400 $1,160 $400

Explanation:

Labor rate per hour = $18

Labor hours = Total Labor cost / rate per hour

Job 93 = $2,160 / $18 = 120 hours

Job 94 = $5,400 / $18 = 300 hours

Job 95 = $2,610 / $18 = 145 hours

Job 96 = $900 / $18 = 50 hours

Overhead applied rate = Labor Hours x overhead applied rate

Job 93 = 120 x $8 = $960

Job 94 = 300 x $8 = $2,400

Job 95 = 145 x $8 = $1,160

Job 96 = 50 x $8 = $400

3 0

3 years ago

What is the main difference between regular work hours and overtime

Rina8888 [55]

Answer:

regular work hour- employee are expected to on the basis of their employment contract.

overtime- hours worked exceed normally scheduled working hours.

3 0

3 years ago

The owner of a property creates a deed, leaving the name of the grantee blank, and puts it in a drawer, where it is forgotten fo

Nikitich [7]

Answer is given below

Explanation:

The owner will probably have no trouble disputing the validity of the deed because the person listed as Granny allows the deed to be kept legally when it is filed, as well as the physical deed is clearly greedy, there is no way to dispute it unless the property owner has provided proof that the visitor has given his or her grading permission.

5 0

3 years ago

Varto Company has 7,000 units of its sole product in inventory that it produced last year at a cost of $22 each. This year’s mod

sp2606 [1]

Answer:

Sell

Explanation:

The computation is shown below:

In case of proceed further $175,000 (7,000 units × $25)

Less: In case of sold $56,000 (7,000 units × $8)

Revenue increment $119,000

Less: Cost of processing further -$125,000

Incremental net loss -$6,000

As we can see that there is an incremental loss of $6,000 which reflects to sell off the product not proceed further plus

5 0

3 years ago