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zalisa [80]
3 years ago
12

Foyert Corp. requires a minimum $6,900 cash balance. If necessary, loans are taken to meet this requirement at a cost of 2% inte

rest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $6,900 and the company has an outstanding loan of $2,900. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.October November DecemberCash receipts $ 22,900 $ 16,900 $ 20,900 Cash disbursements 25,350 15,900 15,100 Required:1. Prepare a cash budget for October, November, and December.
Business
1 answer:
tekilochka [14]3 years ago
7 0

Answer:

answer is attached

Explanation:

     

Download xlsx
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Paid $7,000 of accrued taxes at the time the plant site was acquired. choose an account title 2. Paid $200 insurance to cover a
xenn [34]

Answer: Please refer to Explanation

Explanation:

Hello. Your question was not complete as it lacked certain options.

I have attached it to this answer.

1.Paid $7,000 of accrued taxes at the time the plant site was acquired. LAND because it was an expense that was needed to acquire the land so it is capitalized

2. Paid $200 insurance to cover a possible accident loss on new factory machinery while the machinery was in transit. EQUIPMENT

3. Paid $850 sales taxes on a new delivery truck. EQUIPMENT.

4. Paid $21,000 for parking lots and driveways on the new plant site. choose an account title. LAND IMPROVEMENTS.

5. Paid $250 to have the company name and slogan painted on the new delivery truck. choose an account title. EQUIPMENT

6. Paid $8,000 for installation of new factory machinery. choose an account title. EQUIPMENT

7. Paid $900 for a 2-year accident insurance policy on the new delivery truck. choose an account title. PREPAID INSURANCE

8. Paid $75 motor vehicle license fee on the new truck. LICENSE EXPENSE.

4 0
3 years ago
The U.S. corporation Fun Toys, Inc. sets up a firm in China. The parent company remains in the United States and retains complet
rosijanka [135]

Answer:

(A) A wholly owned Subsidiary

Explanation:

A wholly owned subsidiary is a company that is completely owned by another company called the Parent/Holding Company. The parent company will hold all (100%) of the subsidiary's common stock.

A wholly owned subsidiary allows the parent company to diversify, manage, and possibly reduce its risk.

Some of the disadvantages of a wholly owned subsidiary include the possibility of multiple taxation, lack of business focus, and conflicting interest between subsidiaries and the parent company if not properly managed.

7 0
3 years ago
In your opinion which causes of work stress, or organizational stressors, are likely to be among the most common experienced by
SIZIF [17.4K]

Answer:

There are four types of organizational stressors: task demands, physical demands, role demands, and interpersonal demands.

For air traffic controllers, task demands are probably the most common organizational stressor that they experience.

Among the task demands, we have the need of quick decisions, critical decisions, and the fact that some information may be incomplete.

The job of an air traffic controller is complex, difficult, requires taking quick, and specially, critical decisions all the time. A bad decision by a traffic controller can be very problematic, and even prove fatal, because of the delicate nature of the job. For all these reasons, air traffic controllers are likely to be subjected to this specific organizational stressor.

7 0
2 years ago
Mikey initially invested $2,400 in a company and has held this investment for 3 years. He sold the investment after 3 years for
Tanzania [10]

Answer:

499.80

Explanation:

There is no 39.6% tax bracket, the highest marginal tax is 37%. But we can assume that Mikey had to pay 39.6% in taxes which means that he is in the seventh tax bracket (highest). Since he is classified under the highest tax bracket, he will also pay the highest capital gains rate which is 20%.

Mikey's long term capital gain = $4,950 - $2,400 = $2,550

if he paid regular income taxes = $2,550 x 39.6% = $1,009.80

since he pays capital gains taxes = $2,550 x 20% = $510

That means he saves $1,009.80 - $510 = 499.80

3 0
3 years ago
Section 1 Question 1 of 22. A tax preparer's high ethical standards protect taxpayers by: o Providing them with an accurate retu
gavmur [86]

A tax preparer's high ethical standards protect taxpayers by option A: Providing them with an accurate return, including all tax benefits to which they are entitled.

A tax preparer's high ethical standards protect the tax preparer through except option D: Eliminating the need for preparer due diligence notes Mark for follow up

The statement that  is accurate is option C: Beatrice may claim EITC based on Jordyn if her AGI was higher than Beth's and if she files first.

<h3>What are tax ethics?</h3>

Tax ethics, is known to be the term for the taxpayer's moral duty to pay taxes, is influenced by their interaction with the government as citizens. Tax evasion and tax ethics are frequently used synonymously.

When filing taxes, a tax preparer should take certain ethical considerations into account:

  • Inform the appropriate third parties about the suspected fraudulent behavior.
  • Inform the IRS and other tax authorities of the alleged fraudulent activities.
  • Think about ending the engagement.

Therefore, one can say that anyone who prepares a tax return may now be held accountable for errors committed in filing a return for someone else due to a change in tax regulations that took effect more than ten years ago. An IRS monetary penalty may be imposed on a tax preparer who made errors on your return.

Learn more about ethical standards from

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4 0
1 year ago
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