Answer:
$2,297.50
Explanation:
The annual lease value for Brent's Toyota Prius is $9,750. Since he uses the car approximately 20% of the time for personal use, then Brent's share of the annual lease is = $9,750 x 20% = $1,950
This 20% of personal use represents 6,950 miles (= 34,750 miles x 20%), if the company charges him five cents per mile, then Brent is receiving $347.50 (= 6,950 x $.05
) for personal fuel use.
Brent's total taxable benefit = $1,950 + $347.50 = $2,297.50
The field of accounting that focuses on providing information for external decision makers is Managerial accounting. This is further explained below.
<h3>What is
Managerial Accounting?</h3>
Generally, Information for external decision-makers is the primary emphasis of managerial accounting. For investment decisions, stockholders rely heavily on management accounting data.
In conclusion, Managerial accounting is a branch of accounting that specializes in the dissemination of economic data to external decision-makers.
Read more about Managerial accounting
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Answer:
Liabilities increase and assets decrease.
Hope this helps!
Traditionally, small businesses tended to be concentrated in the retail or retailing industry.
The retail industry involves a business that sells good or services to a consumer. The sell these items based on the demand of the good or service. Even today, the retail industry is growing fast and still one of the main focuses of small businesses.
