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3 years ago

Which is an example of a document that needs to be saved for financial planning?

1 answer:

4 0

The right answer for the question that is being asked and shown above is that: "d. Grocery store receipt." an example of a document that needs to be saved for financial planning is that of a Grocery store receipt.

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In its first year of operations Acme Corp. had income before tax of $400,000. Acme made income tax payments totaling $150,000 du

sasho [114]

Answer:

$10,000 (Credit balance)

Explanation:

Given that,

Income before tax = $400,000

Income tax payments during the year = $150,000

Income tax rate = 40 percent

Therefore,

The balance in income tax payable at the end of the year:

= Tax liability - Income tax paid

= ($400,000 × 40%) - $150,000

= $160,000 - $150,000

= $10,000 (Credit balance)

8 0

3 years ago

Sheridan Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 113 units at a co

ICE Princess25 [194]

Answer:

Ending inventory is $24,917.

Explanation:

Lower-of-cost-or-net realizable value method implies that whichever is lower between the cost per unit and the net realizable value per unit is used to value the ending inventory of an item.

The ending inventory can therefore be determined as follows:

For Cameras:

Units = 113

Cost per unit = $61

net realizable value per unit = $74

We choose cost per unit since it is lower and we have:

Cameras ending inventory = 113 * $61 = $6,893

For Blu-ray players:

Units = 153

Cost per unit = $77

net realizable value per unit = $50

We choose net realizable value per unit since it is lower and we have:

Blu-ray players ending inventory = 153 * $50 = $7,650

For iPods:

Units = 133

Cost per unit = $86

net realizable value per unit = $78

We choose net realizable value per unit since it is lower and we have:

iPods ending inventory = 133 * $78 = $10,374

Calculation of ending inventory:

Ending inventory = Cameras ending inventory + Blu-ray players ending inventory + iPods ending inventory = $6,893 + $7,650 + $10,374 = $24,917

8 0

3 years ago

An internet company gives their old computer system to the computer science department at a local high school. How would GDP be

trapecia [35]

The Gdp would increase I believe

3 0

3 years ago

On August 1, Steffen Computers, Inc. purchased thirty computer chips on account from a company located in Taiwan for 520,000 Tai

Vsevolod [243]

Answer:

Explanation:

Foreign currency related Financial assets and financial liabilities are usually revalued with any difference as a result of the exchange rates posted as a gain or loss in the income statement.

On transaction date, cost of assets

= 520000 * $0.034

On payment date, the amount paid

= 520000 * $0.036

The amount paid is higher than the liability recorded before hence the difference is recognized as a loss on foreign exchange.

= 520000 * $0.036 - 520000 * $0.034

= $1040

4 0

3 years ago

Which of the following statements is FALSE regarding resignations in the workplace? The most qualified employees are often the o

Musya8 [376]

Answer:

The correct option is the statement that reads " If a firm commits to making its environment a good place to work,workers will not leave"

Explanation:

The most qualified employees are always been poached because of the value they add to any organization,hence the first statement is absolute truth.

The second statement is wrong because there the best working environment cannot stop people from resigning,what in case someone needs to study masters abroad?

A certain level of turnover is healthy since it paves from for new hands with fresh perspective to be hired.

However, when turnovers becomes excessive,it implies a fundamental problem with the workplace.

7 0

3 years ago