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Klio2033 [76]
3 years ago
8

Nick is going to be graduating in December and has already accepted a position with a major accounting firm. His employer will p

rovide either a 401k plan with a 2 for 1 match or a lump sum annuity that he can use to invest on his own. Nick chooses the 401k with match. Which reason below validates his rationale?
1. The 401k plan allows him to use pre-tax dollars to invest for his retirement.
2. The annuity may accompany fees, which could reduce the cost of his overall investment.
3. The employer match provides free money from his employer for his retirement.
4. All of the Above are valid reasons
Business
1 answer:
N76 [4]3 years ago
6 0

Answer:

1. The 401k plan allows him to use pre-tax dollars to invest for his retirement.

Explanation:

A 401k plan allows an individual to save money for retirement without paying income taxes for each contribution that he/she makes to the retirement plan. The individual will pay income taxes only after he/she retires and starts withdrawing out of the 401k plan (it is a tax deferred account). Employer's matching of 401k contributions are also taxed once you start withdrawing money. The tax free contributions allow the 401k account to grow faster and earn more money.

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George Scott hires Shannon Lang to sell his house, with the condition that he will not be the first one in the neighborhood to s
ddd [48]

Answer:

Inform Scott that the condition is illegal and that she cannot comply with it.

Explanation:

Based on the scenario being described within the question it can be said that Shannon should Inform Scott that the condition is illegal and that she cannot comply with it. This is because refusing to sell to someone based on any factors pertaining to the individuals, age, race, social class, ethnicity, religion, culture, etc. is discriminatory behavior and completely illegal.

5 0
3 years ago
Textra Plastics produces parts for a variety of small machine manufacturers. Most products go through two operations, molding an
MariettaO [177]

Answer:

Estimated manufacturing overhead rate= $13.2 per direct labor hour

Explanation:

Giving the following information:

Estimated overhead= 730,000 + 590,000= $1,320,000

Total estimated direct labor hours= 52,000 + 48,000= 100,000

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 1,320,000/100,000= $13.2 per direct labor hour

6 0
3 years ago
Whole milk is one of the joint products in a joint manufacturing process. Management is considering whether to sell the whole mi
Karo-lina-s [1.5K]

Answer:

Option (b) : I, II, III, and IV

Explanation:

As per the data given in the question,

In order to evaluate weather a product is sold at a split-off point or can be further processed, the joint processing costs that have already been obtained will have no effect on the decision because the costs and revenues that will be acquired and obtained after consideration will have to be decided whether to continue processing or not. The sunken cost is the cost of processing jointly. Therefore it will not affect the decision to process further or not.

Hence, Option (b) : I, II, III, and IV is correct answer

7 0
2 years ago
Verizon offers to buy a laser printer with a case of paper and an extra cartridge from Office Depot for $200. In response to the
loris [4]

Answer:

a. rejected the offer and made a counteroffer.

Explanation:

Counteroffers are mostly prevalent in business negotiations. A counteroffer is an indication that the initial price or condition presented by the offeror was rejected and a new offer is made by the other party. The contract becomes valid when the counteroffer is accepted by the second party.

In the negotiations between Verizon and Office Depot, an initial offer of a laser printer with a case of paper and an extra cartridge, all for $200 was made by Verizon to Office Depot. Office Depot made a counteroffer, which indicates that the initial offer was rejected. In their counteroffer, they only agreed on a laser printer, without paper and an extra cartridge.

8 0
3 years ago
Lance Brothers Enterprises acquired $755,000 of 4% bonds, dated July 1, on July 1, 2021, as a long-term investment. Management h
Mashutka [201]

Answer:

Dr  Investment in bonds   $755,000

Cr discount on bonds investment               $80,000

Cr cash                                                          $675,000

December 31:

Dr cash($755,000*4%*6/12)                                                $15,100

Dr discount on bonds investment(difference)                        $1775

Cr bond interest revenue($675,000*5%*6/12)                                      $16,875

Explanation:

The purchase of the bonds at $675,000 while the face value was $755,000 meant that the bonds were acquired at a discount of $80,000($755,000-$675,000),as a result the appropriate entries would be to credit cash with $675,000 paid as well as the discount on investment with $80,000 while the investment in bonds account is debited with face value of $755,000

4 0
3 years ago
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