Answer:
D. Plan your trips to avoid rush hour traffic
Considering the situation described above, the maximum amount Louise may receive for the retirement savings contributions credit (Saver's Credit) is "<u>$150</u>."
This is because according to the Internal Revenue Service regulations, for individuals filing under the head of household filing status, with an adjusted gross income of $31,876 - $48,750, such person would only be able to receive 10% of his retirement savings contributions credit (Saver's Credit).
Therefore, Louise has only contributed $1,500 to her employer's 401(k) plan. Consequently, she can only receive 10%, which is "<u>$150</u>."
Hence, in this case, it is concluded that the correct answer is "<u>$150</u>."
Learn more about Savers credit here: brainly.com/question/25767045
Answer:
Shellhammer Company
Ending inventory = $712
Cost of goods sold = $2,492
Explanation:
a) Data and Calculations:
Date Item Units Unit Cost Total Cost
September 1 Inventory 100 $3.34 $334.00
September 8 Purchases 450 3.50 1,575.00
September 18 Purchases 350 3.70 1,295.00
September 30 Total 900 $3,204.00
Ending inventory 200
Cost of goods sold 700
Weighted Average cost = Total cost of goods available for sale/Total units available for sale
= $3,204/900 = $3.56
Value of Ending Inventory = $3.56 * 200 = $712
Value of Cost of goods sold = $3.56 * 700 = $2,492
b) The weighted average inventory costing, under the period inventory system, used by Shellhammer is an assumption that the costs attributable to ending inventory and cost of goods sold are determined from the average cost per unit and that these the average cost is ascertained at the end of the period. Therefore, the cost of beginning inventory and purchases are accumulated and divided by the units of goods available for sale.
You would have to work 250 total hours to pay off your education investment, plus any loans you may take out from the bank (interest, need to calculate interest if applicable).
Answer:
Part (a) The shareholders equity is $145,000
Part (b) Option B best describes the balance sheet
Explanation:
Part (a)
Equity can be calculated from the following formula:
Equity = Assets - Liabilities
By putting the values, we have:
Equity = ($10,000 cash + $200,000 Store + $100,000 Property + $22,000 Accounts receivable) - ($17,000 Accounts payable + $170,000 Long-term debt)
Equity = $332,000 + $ $187,000 = $145,000
Part (b)
The reason is that the balance sheet presents the financial position of the company and financial position means how much the company is worth?, how much it has to pay its debts? and how much it has financed assets from its personal funds (equity and retained earnings). Balance sheets are published at the end of each accounting period. So option b is correct option here.
