Answer:
The $300 of out of pocket expense exceeds the MSRB political contribution limit and will result in the municipal securities firm being banned as an underwriter for that issuer for 2 years.
Explanation:
The municipal securities firm is is underwriter for municipal issuer. The volunteers have paid $300 out of pocket but they are not entitled to make contribution to the campaign. This will result the firm being banned for two years as an underwriter for the issuer.
Answer:
Project S = $672.48
Project L = $11,500
Explanation:
Net Present Value (NPV) Is Calculated by Taking the Present day (Discounted) Value of all future Net Cash flows based on the Business Cost of Capital and Subtracting the Initial Cost of the Investment.
Using a Financial Calculator NPV calculations will be as follows:
Project S
CF0 = ( $11,000)
CF1 = $3,400
CF2 = $3,400
CF3 = $3,400
CF4 = $3,400
CF5 = $3,400
i = 14 %
NPV = $672.48
Project L
CF0 = ( $23,000)
CF1 = $6,900
CF2 = $6,900
CF3 = $6,900
CF4 = $6,900
CF5 = $6,900
i = 14 %
NPV = $11,500.
Answer:
the amount of the adjustment in the Allowance for
Bad Debts account $3.000
Explanation:
Initial Balance
Allowance for Uncollectible Accounts $ 9.000
END Balance
Allowance for Uncollectible Accounts $ 12.000
The adjustment entry in the accountig will be
Bad debt expense $ 3.000
Allowance for Uncollectible Accounts $ 3.000
The journal entry for the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
The government levies a consumption tax known as a sales tax on the purchase of goods and services. At the point of sale, a standard sales tax is imposed, collected by the retailer, and paid to the government. Companies must first apply for a sales tax permit from their state's department of taxation in order to be able to collect sales tax from customers. Every time a customer makes a purchase, businesses collect sales tax, which they subsequently monthly or quarterly send to the state.
As the selling price of the merchandise is $2,600 and the state sales tax is 6%, this means that 6% of $2,600 has to be paid to the state governing body.
Sales tax = 6% of 2600
Sales tax = 6/100 × 2600
Sales tax = 0.06 × 2600
Sales tax = $156
Therefore; the entry to journalize the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
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The variance analysis cycle<u> C. begins with the preparation of </u><u>performance reports</u><u>.</u>
<h3>What is a performance report?</h3>
A performance report is at the heart of the variance analysis cycle.
The performance report details the following:
- Calculates the difference between actual and budgeted expenditure and revenue.
- Analyzes the differences into various variances, determining if they are favorable or unfavorable or have no effects.
- Investigates the reasons for the differences.
- Puts the information together and reports to management.
Thus, the variance analysis cycle<u> C. begins with the preparation of </u><u>performance reports</u><u>.</u>
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