Answer:
Net sales
Explanation:
A common size income statement represent the income statement in which each item line wise should be expressed as the sales or revenue percenatge. The motive of preparing this statement is to have the analyse and compare the performance of the company with their various years
So the base item that should be common used for this type of income statement is net sales
Answer:
The Deans vested benefit will be $13,776.
Explanation:
We can take out the Dean's vested benefit or you can say the annual retirement benefit he has earned so far by multiplying the average of three highest annual salaries by benefit percentage and also multiplying that by the vesting percentage of Deans and the number of years for which he has worked under WCC inc .
DEAN VESTED BENEFIT =
Average of 3 annual salaries x benefit % x vested % of dean x number of
years dean has worked
Firstly here we have to take out the average salary of 3 years,
$71,750 x 3 / 3
= $71,750
DEAN VESTED BENEFIT =
$71,750 X 4% X 80% X 6
= $13,776
Answer:
Monthly payment would be $250.37
Explanation:
The monthly payment can be determined using excel pmt formula as follows:
=pmt(rate,nper,-pv,fv)
rate is the APR of 6.25% per year divided by 12 months in a year
nper is the number of years the payments would last which is 6 years multiplied by 12 months
pv is the initial amount of finance which is the net amount of $15,000
fv is the total amounts to be repaid which is unknown
=pmt(6.25%/12,6*12,-15000,0)=$ 250.37
The amount of monthly payment is $250.37
Answer:
a. The $25,000 is deductible as a current expense.
b. The $25,000 is still deductible as a current expense.
Explanation:
a.They open a bagel shop in the city?
The $25,000 spent on travel, surveys, and financial forecasts will be treated as an an ordinary and necessary business expense. The reason is that it is spent to carry out an investigation necessary for expanding their already existing business. Therefore, the $25,000 is deductible as a current expense.
b. They decide not to open a bagel shop in the city?
It does not matter whether they open the bagel shop in the city or not. The $25,000 spent on investigation will still be treated as an an ordinary and necessary business expense, since it is spent to expand existing active business. The $25,000 is still deductible as a current expense.
Answer:
Disclaimer
Explanation:
Express warranties could be simply be described as the agreement which binds a seller and buyer during the purchase of a certain product. Express warranties usually gives buyers the opportunity to return the product to the seller if damaged within a specified period of tine. Express warranty usually has no borders. Tbe use of disclaimer is used by sellers in other to introduce clauses into an express warranty whereby certain terms and conditions are given before the warranty can be deemed as valid. These limitations inteoduced and are capable of voiding the express warranty is called a disclaimer.