The starting point in preparing a master budget is the preparation of the select one:

linda usually does not spend much time selecting gifts while buying them. however, when buying a pen for her husband's birthday

serg [7]

The options were
a. product involvement
b. situational involvement
c. shopping involvement
d. enduring involvement
The answer is
b. situational involvement
Here linda is taking her time or is more involved in the activity she is performing cause this is a special occasion for her which could also be described as special situation. She doesn't care much about shopping , Pen etc which eliminates other options.

7 0

3 years ago

At January 1, 2017, Hennein Company had plan assets of $280,000 and a projected benefit obligation of the same amount. During 20

Nezavi [6.7K]

Answer:

The Pension schedule is prepared in the workings as requested.

Explanation:

The question is to Prepare a Pension Worksheet for Hennein Company for 2017

HENNEIN COMPANY

PENSION WORKSHEET FOR 2017

General Journal Entry Memo Record

Item Pension Cash Pension Defined Plan

Expenses Asset/Liab Benefit Assets

Obligation

Jan 1, 2017 280,000 CR 280,000 Dr

Service Cost 27,500 DR 27,500 CR

interest Cost 28,000 DR 28,000 CR

Actual return 25,000 CR 25,000 DR

Contributions 20,000 CR 20,000 DR

Benefits 17,500 DR 17,500 CR

Journal Entry 30,500 DR 20,000 CR 10,500 CR

Dec. 31, 2017 10,500 CR 318,000 CR 307,500 DR

Note that the interest cost is as follows

280,000 x 10% = $28,000

3 0

3 years ago

Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries,

nikdorinn [45]

Answer:

A) $76500

B) $72500

C) $24750

D) tax refund of $260

Explanation:

A) calculate Marc and Michelle's gross income

Marc salary = $64000

Michelle's salary = $12000

interest from corporate bond = $ 500

Hence gross income = 64000 + 12000 + 500 = $76500

B) Calculate Marc and Michelle's Adjusted gross income

Gross income = $76500

qualifying moving expenditure = $2500

Alimony paid to previous spouse = $1500

adjusted gross income = 76500 - 2500 - 1500 = $72500

C) Calculate the total amount of Marc and Michelle's deductions from AGI

Standard deduction = $12600

itemized deduction = $6000

personal and dependency allowance = $12150

To calculate the Deductions from AGI we have to add the personal and dependency allowance to the standard deduction ( higher value between standard deduction and itemized deduction )

= 12600 + 12150 = $24750

D ) calculate Marc and Michelle's taxable income

Adjusted gross income = $72500

deduction from itemized deduction = $24750

taxable income = 72500 - 24750 = $47750

E) Determine if Marc and Michelle's taxes payable or refund due for the year

Tax rate schedules :

between $18451 to $79000 : tax rate = $1845 + 15% of income over $18450

Taxable income = $47750

Tax liability = 1845 + (47750 - 18450) * 15% = $6240

child tax credit = $1000

prepayment of taxes = $5500

Tax refund = tax liability - child tax - prepayment of taxes

6240 - 1000 - 5500 = $260

hence there will be a tax return of $260

8 0

3 years ago

Your staff uses expense accounts for job-related travel. The accounting department has changed the way such expenses are handled

Debora [2.8K]

Answer: A memo

Explanation:

Of all the possible ways listed, a Memorandum would be the best way to go.

In businesses, Memos are considered a way to send information within the company about any changes or other happenings within a company. Memos can be sent to every individual or hung around the business. This way everybody can see it and be able to refer back to it. Memos also have proven overtime in the business world that they work for this purpose so using it would be best.

Face to face meetings would have helped explain the changes better but then people would not really be able to refer back to it.

4 0

3 years ago

Danny "Dimes" Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he

allochka39001 [22]

Answer: c

Explanation:

8 0

3 years ago