Answer: 39%
Explanation:
From the question, we are informed that company earned $7,605 in net income for October and that its net sales for October were $19,500.
To calculate its profit margin, we have to divide the net income by the net sales. This will be:
= 7605/19500
= 0.39
= 39%
Answer:
I. Present values increase as the discount rate increases.
and
III. Present values are smaller than future values when both r and t are positive.
Answer: A trial balance is a bookkeeping worksheet in which the stability of all ledgers are compiled into debit and savings account column totals that are equal. The typical purpose of producing a trial stability is to ensure the entries in a company's bookkeeping device are mathematically correct.
Explanation:
Answer:
Mortgage interest of $7,875 and property taxes of $1,850.
Explanation:
A tax deduction can be defined as the total amount of money that one can deduct to lower their tax liability. More tax deductions always implies a reduced tax liability. In dealing with mortgage payments, tax deductions should be considered carefully to determine how much one tax one needs to pay. The following mortgage expenses are considered for deductions;
1. Mortgage interest
A mortgage interest deduction is a deduction that allows homeowners to subtract the interest on the loan they used to pay for the purchase, improvements or building of a home. In our case, Hilda and Hyatt are liable to a deduction of $7,875.
2. Property tax
In general, state and local property taxes are eligible to be deducted from the federal income taxes of a property owner. The only taxes that are deductible are state, local and foreign taxes levied for public welfare. They do not include services like home renovation and trash collection. The federal tax as of 2018 for property tax was capped at a total of $10,000. This means that any property tax value below $10,000 was eligible to a property tax deduction of that amount.
Answer: Option (d) is correct.
Explanation:
Amount paid for candy = $1,500
Items received = 8,500 pieces of candy
Group 1 = 2,500 pieces
Selling price = $0.15 each
sale value = pieces sold × Selling price
= 2,500 × $0.15 each
= $375
Group 2 = 5,500 pieces
Selling price = $0.36 each
sale value = pieces sold × Selling price
= 5,500 × $0.36 each
= $1,980
Group 3 = 500 pieces
Selling price = $0.72 each
sale value = pieces sold × Selling price
= 500 × $0.72 each
= $360
Total sale value = $375 + $1,980 + $360
= $2,715
= 72.92%
Proportion of cost for Group 2 = cost × Percentage of sale in Group 2
= $1,500 × 72.92%
= $1,093.8
= $0.1988
= $0.20(approx)
