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3 years ago

Professional Fees Earned Budget for a Service Company

Business

1 answer:

Iteru [2.4K]3 years ago

3 0

Answer:

ROLLINS AND COHEN, CPA PROFESSIONAL FEE EARNED BUDGET

FOR THE YEAR ENDED DECEMBER 31, 2016

SERVICE HOURS RATE TOTAL

AUDIT:

Staff 22,400 $150 $3360000

Partners 7,900 $320 $2528000

TOTAL REVENUE $5888000

TAX:

Staff 13,200 $150 $1980000

Partners 5,500 $320 $1760000

TOTAL REVENUE $3740000

SMALL BUSINESS ACCOUNTING:

Staff 3,000 $150 $450000

Partners 600 $320 $192000

TOTAL REVENUE $642000

GRAND TOTAL $10,270,000.00

Explanation: Budgeting is a process of forecasting the financial of a company. Its is a projection of the revenue and expenses of a company. This aids planning for the future.

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You are offered Birr 1,000 today, Birr 10,000 in 12 years, or Birr 25,000 in 25 years. Assuming that you can earn 11 percent on

Usimov [2.4K]

Based on the amounts that you are offered and their present values, the offer you should pick is Birr 10,000 in 12 years.

<h3>Which offer should you pick?</h3>

You should pick the offer with the highest present value.

Offer 1 present value:

= Birr 1,000

Offer 2 present value:

= 10,000 / (1 + 11%)²

= Birr 2,858

Offer 3 present value:

= 25,000 / (1 + 11%)³

= Birr 1,840

In conclusion, option 2 has the highest present value and so should be picked.

Find out more on present value calculations at brainly.com/question/27821989.

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4 0

1 year ago

Hurricane Industries had a net income of $129,650 and paid 40 percent of this amount to shareholders in dividends. During the ye

oksano4ka [1.4K]

Answer:

a. 28390

Explanation:

Stockholders cash flow is the net of cash inflows from stockholders and cash outflows to stockholders.

Net Income = $129,650

Payout Ratio = 40%

Cash outflow

Amount of Dividend Paid = $129,650 x 40% = $51,860

Cash Inflow

Common stock issue = $80,250

Net Stockholder's cash flow = $80,250 - $51,860

Net Stockholder's cash flow = $28,390

8 0

2 years ago

Read 2 more answers

Sales this year at Donna's Pawn Shop have been high, and based on several factors, Donna projects next year's sales to also be g

likoan [24]

Answer:

A. Contingency planning

Explanation:

Contingency planning refers to the an approach in forecasting unexpected events by developing an action plan to appropriately respond to such threats. In this scenario, despite that the company expects favourable sales in the future, it is planning to face an unexpected drop in sales.

7 0

2 years ago

Oriole Company bought equipment for $420000 on January 1, 2021. Oriole estimated the useful life to be 4 years with no salvage v

morpeh [17]

Answer:

$63,000

Explanation:

Straight line method charges a fixed amount of depreciation for the period the asset is used in the business.

Depreciation Expense = (Costs - Salvage Value) ÷ Estimated useful life

therefore,

2021

Depreciation Expense = $420000 ÷ 4 = $105,000

2022

One month has already expired, therefore the remaining useful life out of 6 years will be 5.

New Depreciable Amount = Cost - Accumulated depreciation to date

= $420,000 - $105,000

= $315,000

Depreciation expense = $315,000 ÷ 5 = $63,000

Conclusion :

the revised depreciation expense for 2022 is $63,000

6 0

2 years ago

When coded in a WHERE clause, which search condition will return invoices when payment_date isn’t null and invoice_total is grea

tia_tia [17]

<u>Answer:</u>

Option d is the correct answer, i.e; payment_date IS NOT NULL AND invoice_total >= 500

<u>Explanation:</u>

When coded in a WHERE clause, which search condition will return invoices when payment date isn’t null and invoice total is greater than or equal to $500 then payment_date IS NOT NULL AND invoice_total >= 500 and the remaining options are wrong.

Therefore, the Option with, i.e; payment_date IS NOT NULL AND invoice_total >= 500 is the correct answer.

4 0

2 years ago