Answer:
Vera Incorporated
Change in annual operating income from discontinued business:
Annual Operating Income would reduce by $78,000.
Explanation:
a) Calculation of the Net Income Lost:
Loss of Contribution ($99,000)
Avoidable fixed cost $21,000
Reduction of Income ($78,000)
b) The line of purses contributes $80,000 towards the company's fixed cost. Therefore, discontinuing this line of business would lead to the loss of this steam of income. The amount of reduced operating income will be $78,000 ($80,000 - 2,000).
Then poverty will fall and inequality will rise.
<h3>
What is poverty?</h3>
- Being in a state of poverty means having few material possessions or little money.
- Numerous social, economic, and political factors can contribute to or be a result of poverty.
- There are two primary metrics of poverty used in statistics and economics: Relative poverty is the inability of a person to maintain a minimal standard of living in comparison to others in the same period and place.
- Absolute poverty is the comparison of income to the amount required to meet fundamental personal necessities, such as food, clothing, and shelter.
- Depending on the community or the country, many terms are used to define relative poverty.
<h3>
What is income inequality?</h3>
- The disparity in how income is allocated among people or populations is known as income inequality.
- It is also known as the wealth gap, wealth disparity, wealth and income discrepancies, or the gap between the rich and the poor.
- Therefore, the poverty will fall and inequality will rise.
Know more about absolute poverty here:
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Answer:
$4,424
Explanation:
Calculation to determine what amount would you have lowered your federal income tax
Using this formula
Reduction in Federal income tax amount = (Mortgage interest + Real estate taxes) x Tax rate
Let plug in the formula
Reduction in Federal income tax amount= ($13,200 + 2,600) x 0.28
Reduction in Federal income tax amount=$15,800×0.28
Reduction in Federal income tax amount = $4,424
Therefore The amount that you would have lowered your federal income tax is $4,424
Answer:
The correct options are C and A
Explanation:
Under the method of direct write off of the accounting for uncollectible receivables, the journal entry should be recorded in the books is as follows:
On September 15
Bad debt expense A/c.................................... Dr $675
Accounts receivable- Jacob Marley A/c........Cr $675
When the company is notified of the bankruptcy of the Jacob Marley, then the above following entry is to be recorded as the bad debt expense, got increases and any increase is debited. Therefore, the account of bad debt expense is debited. And the balance of the accounts receivable of Jacob Marley has been reduced because the amount is unrecoverable so any decrease is credited. Therefore, the account of accounts receivable of Jacob Marley is credited.
Answer:
It should be ensured that the ethics code of the company is both global as well as local in scope
Explanation:
Code of ethics is the set of the principles which is to be followed by the company or business in order to conduct or perform and it will guide the behavior as well as decision making.
The motive of the code is to provide the members with the guidelines for the making the ethical decisions as well as choices in order to perform the work.
So, the ethic or code should ensure that it has both local as well as global scope for the company.
NOTE: The options are missing so providing the direct answer.
