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3 years ago

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Maxine, age 35, earns $200,000 annually from ABC Incorporated. ABC sponsors a SIMPLE, and matches all employee deferrals 100% up

to a 3% contribution. What is the maximum employee deferral contribution to Maxine’s SIMPLE account for this year?

1 answer:

Darya [45]3 years ago

4 0

Answer:

$12,500.

Explanation:

Please see attachment.

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On March 1, Lincoln sold merchandise on account to Pina Colada Company for $29,400, terms 1/10, net 45. On March 6, Pina Colada

dolphi86 [110]

Answer:

The Journal entries with their narration is shown below:-

Explanation:

The Journal entry is shown below:-

1. Account receivable Dr, $29,400

To Sales revenue $29,400

(Being Sales revenue is recorded)

2. Sales return and allowance Dr, $2,200

To Account receivable $2,200

(Being Sales return is recorded)

3. Cash Dr, $26,928

($29,400 - $2,200) × 99%

Sales discount Dr, $272

To Account receivable $27,200

($29,400 - $2,200)

(Being cash is recorded)

7 0

3 years ago

not-for-profit organization held the following investments: Investment Cost Fair value (beginning of year) Fair value (end of ye

arsen [322]

Answer:

$14,900

Explanation:

not-for-profit organization will report the investments at the fair value of the investments end of year, in the year-end statement of financial position.

Here,

Investment Fair value (end of year)

Stock A (100 shares) $51

Stock B (200 shares) $49

Stock A = (100 * 51) = $5,100

Stock B = (200 * 49) = $9,800

Total Investment fair value at end of year = $14,900

$14,900 will be the amount reported in stock investments in the year-end statement of financial position.

3 0

3 years ago

When is 72 hours from now?

erica [24]

Answer:

the answer is 3 days later

Explanation:

6 0

3 years ago

Read 2 more answers

While on a hike with a tour group in the mountains, Derek gets mauled by a bear. No previous reports of bears in the area had be

wlad13 [49]

Answer: D. Derek assumed the risk of a bear attack by joining the tour group, so he cannot hold the tour company liable

Explanation:

Derek has to accept that by joining the tour group, he assumed some the risk of some elements of danger amongst them the bear attack.

Even though there had been no prior attack by bears in the mountain, a mountain hike still has some inherent danger in it and this includes bears. He cannot hold the tour company liable using this reason alone.

4 0

3 years ago

Blue Point Company is formulating its marketing expense budget for the month of September. Sales in units for August amounted to

Anna007 [38]

Answer:

See below

Explanation:

Computation of estimated cash payment expense is seen below

Variable expenses

Sales in unit for August 4,000

Sales in unit September 4,000 × 110% = 4,400

Total variable expense 4,400 × $0.15 = $660

Fixed expense per quarter

Salaries $5,000 × 3 = $15,000

Depreciation $1,500 × 3 = $4,500

Total = $19,500

Budget total = $20,160

Estimated cash payment = $20,160 - $4,500 = $15,660

8 0

3 years ago