Answer:
Total cost = $22
Explanation:
Below is the calculaton:
The per-hour earning = $13 per hour
The admission fee of carnival = $9
In order to find the total cost, just add the per hour earning and fee of carnival.
Thus, total cost = Admission fee + Earning from assisting the swim team
Total cost = $9 + $13
Total cost = $22
Answer:
Declaration date:
Dr retained earnings $26400
Cr dividends payable $26400
Payment date:
Dr dividends payable $26400
Cr Cash $26400
Explanation:
Total dividend declared is the number of shares multiplied by cash dividend per share
total dividend=$3*8,800=$26400
On the record date no entries are required since record date, is just about verifying the bonafide shareholders.
On declaration date,dividends payable would be credited with $26,400 while retained earnings is debited.
On payment date,dividends payable is debited and cash credited
Answer:
$121 unfavorable
Explanation:
The computation of the activity variance is shown below:
Activity variance = Planning budget amount - flexible budget amount
where,
Planning Budget is
= $26,100 + $12.10 × 2000
= $50,300
And,
Flexible Budget is
= $26,100 + $12.10 × 2010
= $50,421
So, the activity variance for personnel expenses is
= $50,300 - $50,421
= $121 unfavorable
Answer:
92.86%
Explanation:
Debt-to-income ratio is a comparison or personal debts against income. It is used to assess an individual ability to accommodate more debts.
The formula for for calculating Debt to income is
Debt to income is <u> Total of Monthly Debt Payments </u>
Gross Monthly Income
For Affan, Total debts are $450 + $375 + $50+ $100 =$ 975
Gross income is not given , we use net income which is $1,050
Debt to income ration = $975/$1050
= 0.92857 x 100
= 92.86%
Answer:
The correct answer is letter "D": Cindy can claim Mark as a dependent and she can file as head of household.
Explanation:
Dependents are people taxpayers entitles as such to claim exemptions in a tax return. Dependents can be "qualifying child" or "qualifying relative". In the case of qualifying relatives, the dependent must meet the <em>Dependent Taxpayer Test, Joint Return Test, Citizen or Resident Test, Member of Household or Relationship Test, Gross Income Test, </em>and <em>Support Test</em>. The dependent exemption for 2017 is $4,050. Thus, Mark can be considered as Cindy's dependent because they lived in the same household during the same year with nobody else even if he is not working and he is not disabled.
For taxing purposes, being head of household implies p<em>aying more than half of the housing expenses, not being married for the past year, </em>and<em> having a qualifying dependent</em>. Then, as Cindy provided all the support of her household, has not married recently, and has Mark as her dependent, she can be considered the head of the household.