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tino4ka555 [31]

3 years ago

13

Absorption costing income would be ____ variable costing income. a. $150,000 less than b. $150,000 greater than c. $240,000 less

than d. $240,000 greater than e. None of the above

1 answer:

Dafna11 [192]3 years ago

7 0

Answer:

E. None of the above

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Tidy Limited purchased a new van on January 1, 2018. The van cost $40,000. It has an estimated life of ten years and the estimat

forsale [732]

Answer:

$33,600

Explanation:

The computation is shown below:

But first we have to determined the following things

Depreciation rate

= 1 ÷ useful life

= 1 ÷ 10

= 0.1

It is double-declining so the rate is also double i.e. 0.20

Now in the first year, the depreciation expense is

= $40,000 × 0.20

= $8,000

Now in the second year, the depreciation is

= ($40,000 - $8,000) × 0.20

= $25,600

So, the accumulated depreciation at the end of 2019 is

= $8,000 + $25,600

= $33,600

Here the residual value is not relevant. hence, ignored it

6 0

3 years ago

Next to the following list of eight characteristics of business organizations, select a brief description of how each characteri

Gemiola [76]

Answer:

1. Owner authority and control - one vote per share, readily transferred

2 Ease of formation - requires government approval

3. Transferability of ownership - readily transferred

4. Ability to raise large amounts of capital - high ability

5. Duration of life - Unlimited

6. Owner liability - limited

7. Legal status - separate legal entity

8. Tax status of income - corporate income is taxed

Explanation:

A corporation is a business type :

1. Ownership of a corporation can be acquired by acquiring shares of the corporation.

2. A corporation requires government approval and a lot of legal requirements before it can be formed.

3. A corporation can raise capital through issuing shares, bonds and borrowing from financial institutions .

4. The liability of shareholders who are the owners are limited to the amount invested.

5. Corporate income is taxed and profit distributed to shareholders are also taxed.

6. A corporation is a separate legal entity.

7. The life of a corporation can be unlimited.

8. One share is equal to one voting right.

I hope my answer helps you

4 0

3 years ago

a customer has invested 20000 in a variable annuity. in the first year nav increases to 21100 at what rate wsill 1100 gain be ta

rjkz [21]

Answer: 0%

Explanation:

The $20,000 contribution to the variable annuity is not taxed and neither is the gain, at least not yet.

With the variable annuity, the gains/earnings will be tax-deferred and the customer will only have to pay taxes when they withdraw the contributions.

When this happens they will be charged at the normal income tax rate.

7 0

3 years ago

When looking to finance higher education, what is the best order to look for funding sources? AGrants/Scholarships - Federal Stu

tatyana61 [14]

The answer should be A, as grants and scholarships are easier to attain

7 0

3 years ago

What is the most important about the Finance Manager of an agency?

Archy [21]

Often, controllers oversee the accounting, audit, and budget departments. Treasurers and finance officers direct their organization's budgets to meet its financial goals. They oversee the investment of funds. They carry out strategies to raise capital (such as issuing stocks or bonds) to support the firm's expansion.

i hope this helps you out!!!!

3 0

3 years ago