Answer:
No answer is correct.
If we use the values set by the IRS for 2019, the total travel costs deduction = $290.58.
If we use the 2018 value, the total travel costs deduction = $273.05
Explanation:
The new mileage reduction set by the IRS for 2019 is 58 cents (up from 54.5 cents) per mile. Since Jermaine had to travel 3 times during the year and drove for 167 miles, his total deduction should be:
- total travel costs deduction = 3 x 167 x $0.58 = $290.58
If we use the 2018 deduction rates, Jermaine's total travel deduction will be:
- total travel costs deduction = 3 x 167 x $0.545 = $273.05
Answer:
D. countries should specialize in the production of goods for which they use fewer resources in production than their trading partners.
Explanation:
Answer:
a.
i. 4.7 times
ii. 77.1 days
b
i. 7 times
ii. 52.1 days
Explanation:
Inventory turnover = cost of goods sold / average inventory
average inventory for 2016 = ( 87,750 + 92,500 ) / 2 = $90,125
Inventory turnover $426,650 / $90,125 = 4.7 times
Days' sales in inventory = 365 / inventory turnover = 77.1 days
for 2017
inventory turnover = cost of goods sold / average inventory
average inventory for 2017 = ( 97,400 + 87,750 ) / 2 = $92,575
Inventory turnover $643,825 / $92,575 = 7.0 times
Days' sales in inventory = 365 / inventory turnover = 52.1 days
Answer:
decline.
Explanation:
The decline stage of the product's life cycle is marked by declining sales and product profitability. Generally, in this phase, the product begins to be replaced by new technologies, becomes outdated and goes into disuse.
It is important for companies to be aware that when entering this phase, the product needs redesign planning, so that improvements are implemented that make it updated to be relaunched in the market and then start another life cycle.
Answer:
Debit to income summary account $2,620
Explanation:
With regards to the above, the journal entry close to expense account is seen below;
Income summary account Dr $2,620
To salaries and wages expenses
$1,810
To advertising expense
$370
To rent expense
$220
To supplies expense
$150
To insurance expense
$70
(Being expense accounts that are closed)
