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3 years ago

Which of the following is NOT included when calculating gross income?

Business

1 answer:

jekas [21]3 years ago

7 0

Financial incomes other than scholarships can be included in the calculation of gross income.

<u>Explanation: </u>

The gross revenue, cost of sold goods marks the gross income for a business which is also known as gross margin. It does not include all the other costs in running the business.

For an individual, gross income is the total financial income that he/she receives before paying tax or other deductions is known as gross income or gross pay. It not only includes wages and salary but also the other incomes namely alimony, pension, tips, rental income, investment income, capital gains and dividends.

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The three types of scaffolds are ________________.

Damm [24]

Answer:

The answer is d: supported, suspended, and aerial lift trucks

Explanation:

An elevated temporary work platform is called a scaffold. Scaffolds can be divided into two categories:

Supported scaffolds are made up of one or more platforms that are held up by rigid parts like, for example, poles, frames and legs.

The scaffolds that hang from ropes or another pliable, above support, consisting of one or more platforms are suspended scaffolds

Aerial lifts, in particular, can be thought of as different kinds of supported scaffolds.

8 0

2 years ago

During 2021, its first year of operations, Pave Construction provides services on account of $124,000. By the end of 2021, cash

7nadin3 [17]

Answer:

The adjusting entry for uncollectible accounts on December 31, 2021:

Debit Bad debts expense $9,600

Credit Allowance for uncollectible accounts $9,600

Explanation:

During 2021, Pave Construction provides services on account of $124,000. By the end of 2021, cash collections on these accounts total $92,000.

The balance of uncollected accounts on December 31, 2021 = $124,000 - $92,000 = $32,000

Pave estimates that 30% of the uncollected accounts will be uncollectible.

Estimated uncollectible = 30% x $32,000 = $9,600

The adjusting entry for uncollectible accounts on December 31, 2021:

Debit Bad debts expense $9,600

Credit Allowance for uncollectible accounts $9,600

8 0

2 years ago

Darius rarely makes mistakes as the accountant for the round-tuit corporation. he always follows the correct guidelines when he

slamgirl [31]

<span>Darius has a “conventional” personality type, this is according to Holland’s Six personality types, which means that he likes to work with numbers and data. This kind of person can carry out the task in detail and can easily follow the instruction of a others. </span>

5 0

3 years ago

Assume that Schmidt Machinery Company had the standard costs reflected in Exhibit 14.5. In a given month, the company used 3,530

Goshia [24]

Answer:

price variance $14,040 U

quantity variance $ 5,650 F

rate variance $ 10,700 U

efficiency variance $ 26,800 U

Explanation:

Missing information attached:

Purchase of Aluminium:

66 ending + 3,530 used - 46 beginning = 3,510

DIRECT MATERIALS VARIANCES

$(standard\:cost-actual\:cost) \times actual \: quantity= DM \: price \: variance$

std cost $25.00

actual cost $29.00

quantity 3,510 (purchase)

difference $(4.00)

price variance $(14,040.00)

$(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: quantity \: variance$

std quantity 3756.00 (939 units x 4 pounds per unit)

actual quantity 3530.00

std cost $25.00

difference 226.00

quantity variance $5,650.00

DIRECT LABOR VARIANCES

$(standard\:rate-actual\:rate) \times actual \: hours = DL \: rate \: variance$

std rate $40.00

actual rate $42.00

actual hours 5,350

difference $(2.00)

rate variance $(10,700.00)

$(standard\:hours-actual\:hours) \times standard \: rate = DL \: efficiency \: variance$

std hours 4680.00

actual hours 5350.00

std rate $40.00

difference -670.00

efficiency variance $(26,800.00)

5 0

3 years ago

HOW MUCH IS THE PESO MARK-UP IF THE SELLING PRICE IS 15 PESOS AND THA PURCHASE COST IS 10 PESOS

sergiy2304 [10]

Answer:

Mark-up = 50%

Explanation:

Given the following data;

Selling price = 15 Pesos

Purchasing cost = 10 Pesos

To find the mark-up;

First of all, we would determine the profit;

$Profit = Selling \; price - Purchasing \; cost$

Profit = 15 - 10

Profit = 5 Pesos

Now, we can solve for the mark-up using the formula below;

$Mark \; up = \frac {Profit}{Purchasing \; cost} * 100$

$Mark \; up = \frac {5}{10} * 100$

$Mark \; up = \frac {500}{10}$

Mark-up = 50%

7 0

2 years ago