Answer: Im not doing the math but Option 2 is the better option
Explanation:
Answer:
$55,000
Explanation:
A Simplified Employee Pension (SEP) Plan is used in the United States by employers or self-employed persons to provide retirement benefits for themselves and their employees
As stated by the Internal Revenue Service (IRS), the contributions that can be made to each employee’s SEP-IRA each year is which one is lower between 25% of compensation and the maximum of $55,000 for 2018.
We can then calculate as follow:
1. Jerry's contribution calculation = 25% × $187,600 = 46,900.
2. Maximum allowable = $55,000.
Since a defined contribution plan states that Jerry will contribute the maximum amount allowable and the maximum for 2018 is $55,000, Jerry's contribution will therefore be $55,000.
Pre- is probably the answer, I’m sorry if it’s wrong.
Hi I think it might be the second option: <u>You can specialize in mechanics and still be able to feed your family without growing your own food.</u> I say this because the key word specialization used in the question and specialize.
Honestly taking a test with this same question at the moment and i am just taking a wild guess here. Im sorry if i got it wrong but good luck.
Answer and Explanation:
The Preparation of income statement is prepared below:-
<u>Rushmore Biking Inc.
</u>
<u>Income statement
</u>
<u>For the month ended February 28
</u>
<u>Particulars Amount</u>
Revenues $7,30,300
Less: Cost of goods sold $4,41,400
Gross profit $2,88,900
Selling and administrative expenses:
Selling expenses $1,48,500
Administrative expenses $72,200
Less: Total Selling and administrative
expenses $2,20,700
<u>Income from operations $68,200</u>
