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expeople1 [14]
3 years ago
9

Nueva Company reported the following pretax data for its first year of operations. Net sales 7,400 Cost of goods available for s

ale 5,610 Operating expenses 1,638 Effective tax rate 40 % Ending inventories: If LIFO is elected 627 If FIFO is elected 804 What is Nueva's net income if it elects FIFO
Business
1 answer:
Ludmilka [50]3 years ago
8 0

Answer:

Net Income $574

Explanation:

Calculation of Nueva's net income if it elects FIFO will be :

Net sales$7,400

Less Cost of goods sold ($4,806)

($5,610 − $804)

Gross profit 2,594

Operating expenses (1,638)

Income before taxes 956

(2,594-1,638)

Income tax 382.4

(40%×956)

Net income $574

(956-382.4)

Therefore the Nueva's net income if it elects FIFO would be $574

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An increase in the expected rate of inflation: shifts the short-run Phillips curve down. shifts the short-run Phillips curve dow
ZanzabumX [31]

Answer:

shifts the short-run Phillips curve up

Explanation:

The Phillips curve is a graph that shows the relationship between inflation and unemployment. In the short run, there is an inverse relationship between inflation and unemployment. The Phillip curve submits that high inflation is the cost to pay for economic growth. economic growth is accompanied by low unemployment. In the long run, there is no trade-off between inflation and unemployment.

An increase in expected inflation leads to an upward shift of the Phillips curve in the short run. Unemployment would stay unchanged. While a decrease in expected inflation leads to a downward shift of the Phillips curve

Stagflation in the 1970s have disproved the Phillips curve. Stagflation is when there is high unemployment and high inflation  

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3 years ago
In the context of choosing an appropriate advertising media, at present the brands that cater to the older generations are not s
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Social media is a very good way of protesting because many many people go on social media sites and they can join in and instead of being abused by other people outside you can easily make a protest on video or a website.

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3 years ago
Read 2 more answers
A study examining the performance of numerous assets from the United States and around the world confirms that a. U.S. equities
antoniya [11.8K]

Answer:

d. beta did a better job of explaining the returns than standard deviation

Explanation:

Beta measures the systemic risk associated with the particular investment, it do not compute the total risk associated, which is more  logical.

Standard deviation computes the total risk associated.

Some risk is natural, like the risk of floods, natural calamities, earthquake, etc:

That risk shall not counted as for comparison as that is associated universally. Further, the risk associated with particular factors like bankruptcy of a company, or some legal case issue of a company are precisely described by beta coefficient.

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3 years ago
Discuss national income​
Anni [7]

Explanation:

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7 0
3 years ago
At January 1, 2020, Windsor Company had plan assets of $303,000 and a projected benefit obligation of the same amount. During 20
Arte-miy333 [17]

Answer:

The answer is well illustrated as below

Explanation:

Remember: Five factors affects the Pension Liability and Plan assets.

1 & 2. Expenses which includes service cost and interest cost

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Dr Service cost  $27,100

Dr Interest Cost $30,300 ...... $303,000 Opening Pension Liability * 10%

Cr Pension Liability        $57,400

3. Actual return increases the Plan Asset

The Actual return on investment received would increase the Assets worth, which means the journal entry must be passed which would increase the Investment Value (Plan Asset). So the entry would be:

Dr Plan Asset $25,700

Cr Actual return $25,700

4. Contributions made increases the Plan Asset because it is an increase in the investment.

So the journal entry would be:

Dr Plan Asset $20,000

Cr Cash Asset        $20,000

5. The benefits paid to employees are decrease in both pension asset and the pension liability. (We had actually borrowed money from the employees and had invested that money so paying off the benefits actually decreases the pension liability and assets).

So the double entry would be:

Dr Pension Liability $17,700

Cr            Pension Assets $17,700

Kindly input the above values in the following worksheet:

4 0
3 years ago
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