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Dominik [7]
3 years ago
5

Justin Peter earned a salary of $30,000 during the current year. During the current year, he was required by his employer to tak

e several overnight business trips, and he received an expense allowance of $1,500 for travel and lodging. In the course of these trips, he incurred the following expenses: Travel $1,100 Lodging 500 Entertainment of customers 400 What is Justin’s adjusted gross income if he does not account to his employer for the expenses? A. $29,500 B. $29,900 C. $30,000 D. $31,500
Business
1 answer:
nikitadnepr [17]3 years ago
6 0

Answer:

$31,500

Explanation:

Given:

Earned a salary = $30,000

Expense allowance received for travel and lodging = $1,500

The expenses incurred by an employee over business expenses do not need to be deducted from gross income or included in the gross income.

Hence, the gross salary of Justin Peter  

= Earned a salary + Expense allowance received for travel and lodging

= $30,000 + $1,500

= $31,500

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HI Corporation is considering the purchase of a machine that promises to reduce operating costs by the same amount for every yea
Alexus [3.1K]

Answer:

Annual savings = 61,746.

Explanation:

The Net Present Value (NPV) is the difference between the present value (PV) of cash outflows  and PV of cash inflow

At the internal rate of return the PC of annual cash savings will be equal to the investment cost

Initial cost = 211980

PV = annual cash savings = A× (1- (1+r)^(-n)/ r

A=?  r-internal rate of return, 14%, n-number of years- 5

211980 = A  (1- (1.14)^(-5)/ 0.14

211,980 = A× 3.433080969

A= 211,980/3.43308

A= 61746.28619

Annual savings = 61,746.

5 0
3 years ago
Public saving is negative when:A. there is a government budget surplus.B. there is a government budget deficit.C. the government
m_a_m_a [10]

Answer: Option (B) is correct.

Explanation:

Public saving refers to the tax revenue amount that a government left with after paying for its expenditure or spending.

Public saving = Tax revenue - Spending

Private saving refers to the after tax income of the individuals after paying for their consumption and taxes.

Suppose there is a government budget deficit, in this situation government's expenditure is greater than government's receipts. This means that tax revenue is not enough to pay out its expenditure.

Therefore, this will lead to negative public savings.

3 0
3 years ago
The Waverly Company has budgeted sales for the year as follows: The ending inventory of finished goods for each quarter should e
MA_775_DIABLO [31]

The question is incomplete. The complete question is as follows,

The Waverly Company has budgeted sales for the year as follows:

Quarter sales in unit

1=12,000

2=14,000

3=18,000

4=16,000

The ending inventory of finished goods for each quarter should equal 25% of the next quarter's budgeted sales in units. The finished goods inventory at the start of the year is 3,000 units. Scheduled production for the second quarter (in units) is:

a.17,500 units.

b.16,500 units.

c.15,000 units.

d.13,000 units.

Answer:

Production = 15000 Units

Option C is the correct answer

Explanation:

To calculate the scheduled production for the second quarter, we first need to find the opening and ending inventory for the third quarter. The ending inventory for each quarter will become the opening inventory for next quarter. It is mentioned in the question that the ending inventory in each quarter is equal to 25% of the next quarter's budgeted sales. Then,

Ending Inventory First Quarter = 0.25 * 14000  =  3500 units

Ending Inventory Second Quarter = 0.25 * 18000  =  4500 units

The production of units in second quarter can be calculated as follows,

Budgeted Sales  =  Opening Inventory + Production - Closing Inventory

14000 = 3500 + Production - 4500

14000 + 4500 - 3500 = Production

Production = 15000 Units

5 0
3 years ago
Employees at Atkins Inc. are frustrated with their manager, Kyle, who does not believe in providing feedback because he thinks i
Ratling [72]

Answer:

by using evidence and logic

Explanation:

allot

3 0
3 years ago
Seeking products or services that have been successful in one market and introducing the same basic product or service in anothe
BabaBlast [244]

Answer:

Imitative new entry

Explanation:

This is called imitative new entry. There are business imitators who are interested in capitalizing on existing and proven success in the business venture they want to enter.

It is used by entrepreneurs who have seen business success in a particular business line and then they go ahead to introduce the same service or product in a different segment of the market. Entrepreneurs use this when they think are better equipped to do a job than the already existing competitor.

Seeking products or services that have been successful in one market and introducing the same basic product or service in another segment of the market is referred to as _____________ new entry

6 0
3 years ago
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