Answer:
$0
Explanation:
If an individual's total income (including Social security benefits + all other types of income) is less than $25,000, or $32,000 for married couples, then he/she will not have to pay any taxes on their Social Security benefits. Only if total income is higher than the current thresholds, should Social Security benefits be taxed. Depending of the individual's total income, between 50-85% of Social Security benefits must be taxed at the individual's tax bracket.
Answer:
I) Days sales outstanding (DSO) for all customers? 48.7days
= (53*0.9)+(10*0.1) = 48.7 days
II) Net sales? $166.600
The Net sales = Gross sales - sales allowance
The discount amount due for the 10% discount customers = 2% of the 10% of 170 mn ==> 0.02 * 0.1 * 170 ===> 0.34 mn
∴ The Net sales = 17 - 0.34 mn = 16.66 mn
Amount paid by discount customers? $13.600
Explanation:
I. General Credit Policy Information
Credit stamps 2/10 Net 30
Days sales outstanding (DSO) for all customers 48.7days
DSO for customers who take the discount (10%) 10days
DSO for customers who forgo the discount (90%) 53days
II. Annual Credit Sales and Costs ($ millions)
Gross sales $170.000
Net sales? $166.600
Amount paid by discount customers $13.600
Amount paid by non discounted customers $153.000
Variable operating costs (82% of gross sales) $139.40
Bad debts $0.0
Credit evaluation & collection costs (10% of gross sales) $17.00
Quick ratio is 1.47.
Company A uses the FIFO method to account for inventory and Company B uses the LIFO method. The quick ratio is an indicator of a company’s short-term liquidity position and measures a company’s ability to meet its short-term obligations with its most liquid assets.
Gross Profit 72000 67000
Operating expenses and interest expense 56000 53000,
Pretax Income 2200014000
Income Tax 3000 4000
Net Income 14000 10000
Balance sheet Year? Year
cash 4000 7000
Accounts Receive ab 114000 18000
Taventory 40000 34000,
Property & Equipment 45000 36000
Total Assets 302000 97000
Current Liabilities ‘i6000 4.7000
Long term Liabilities 5000 45000
Common stock 30000 30000
Retained Earnings 1120005000
Total Liabilities & Stock holders equity 10300037000,
L. Current Ratio = Current Assets / Current Liabilities
Year? Year
Current Ratio 36347
2.Quick Ratio
‘Current Assets - Inventory / Current Liabilities
Year? Year
Quick Ratio is 1.47
2.Profit Margin = Net profit /Sales
Year? Year
Profit Margin 737% 5.99%
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Answer:
Budget Line rotates inwards (leftwards/ downwards) on that axis, optimal quantity demanded at that higher price .
Explanation:
Budget line represents product combinations that a consumer can afford , using all income with given prices & income.
If price of a product increases, the consumer can consume lesser amount of the product due to higher prices . So, the budget line rotates inwards (leftwards / downwards) on the corresponding x / y axis denoting that good.
So, inwards rotation of the budget line on the corresponding axis representing the price risen good - leads to reduction in the quantity of the good whose price has risen.
