Answer:
119.4% for 2017 and 100.0% for 2016.
Explanation:
2017 2016
Net sales $276,200 $231,400
Cost of goods sold $151,900 $129,590
Operating expenses $55,240 $53,240
Net earnings $27,820 $19,820
since we are using 2016 as a base year, the $231,400 in net sales represent 100%, so the trend percentage for 2017 = net sales 2017 / net sales 2016 $276,200 / $231,400 = 1.1936 = 119.4% or a 19.4% increase.
The base year's amount will always be 100% or 1, and the trend percentages will change relative to that year.
Answer:
$1.75
Explanation:
Earnings per share to be reported = Earnings per share of commo stock * (1 - 4%)
Earnings per share to be reported = $1.82 * 96%
Earnings per share to be reported = $1.7472
Earnings per share to be reported = $1.75
So, the 2019 earnings per share to be reported in the annual report for 2020 are $1.75.
Answer:
Gift tax is not an issue for most people
Explanation:
The person gifting files the gift tax return, if necessary, and pays any tax. If someone gives you more than the annual gift tax exclusion amount ($15,000 in 2020), the giver must file a gift tax return.
Answer:
The answer is C) $7,970.
Explanation:
We have 04 reconciling items as below:
- Outstanding checks $800: this amount was already recorded in the Cash account of the company once the check was written; thus, the Cash ending balance has already reflected this amount.
- Deposits in transit $700: this amount was already recorded in the Cash or Cash-equivalent account of the company once the deposit was made; thus, the Cash ending balance has already reflected this amount.
- Bank service charge $30: fees paid to banking activities and are deducted without informing to the company. Thus, this deduction in cash is not reflected in the Cash account.
- NSF check $500: this was recorded as the increase in Cash account by the company once the check was written by the person/entity to the company. However, the writer's account balance was not sufficient to honor this check amount to the company; thus Cash Account at the end of the period should reduced by $500. Instead, this $500 may be recorded in Account Receivable account.
Thus, the adjusted cash balance = 8,500 - 30 - 500 = $7,970.
