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2 years ago

Who sets guidelines for the exemption as it applies to earnings?

1 answer:

6 0

The annual exempt amount applies to the earnings of each non-grace taxable year prior to the year of full retirement age, as defined

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On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. How would Fl

Llana [10]

Answer:

C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000

Explanation:

Assuming for now that credit customer will avail the cash discount, the following journal entry shall be made on November 10 by Flores mills in respect of credit sales made by it.

Debit Credit

Accounts receivable $7,840

Cash discount $160

(8000*2%)

Sales $8,000

Based on the above discussion, the answer shall C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000

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3 years ago

Luxguard Home Paint Company produces exterior latex paint, which it sells in one-gallon containers. The company has two processi

marta [7]

The cost of ending work in process inventories and of units transferred out of the Base Fab Department in April is $851,00 and $999,000and $1850,000

The calculation of this question and working of solutions is in tabular form which is attached to this answer.

What is Cost?

The cost is of two types - Variable and Fixed . Variable costs exchange based on the amount of output produced. Variable costs may include labor, commissions, and raw materials. constant costs continue to be the same no matter production output. fixed charges may additionally include hire and rental bills, coverage, and interest payments.

Learn more about cost brainly.com/question/13165105

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2 years ago

which of the following describes an important difference between general partnership and limited partnerships

dexar [7]

The main difference between a general partnership and a limited partnership is that "<span>A general partnership has unlimited liability for all partners while a limited partnership has limited liability." In addition, the liability of the personal assets in a general partnership is its obligation.</span>

8 0

3 years ago

Read 2 more answers

A $250,000 loan is to be amortized over 8 years, with annual end-of-year payments. Which of these statements is CORRECT? a. If t

Anarel [89]

Answer:

The answer is "Option b".

Explanation:

In this scenario, the second option, which would be the percentage within each transaction that's also interest instead of the full amount, would've been lower if the rate of interest were lower because interest-related transactions would have been higher at lower rates and conversely, as opposed to the main refunds.

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3 years ago

vSelected financial data for The Portland Porcelain Works Coffee Mug Division is as follows: Sales $ 2 comma 000 comma 000 Oper

ioda

Answer:

Capital turnover = 2.5 times

Explanation:

given data

Sales = $2,000,000

Operating income = $400,000

Total assets = $800,000

Current liabilities = $120,000

Target rate of return = 13%

Weighted average cost of capital = 6%

to find out

Portland Porcelain Works Coffee Mug Division capital turnover

solution

we get here Portland Porcelain Works Coffee Mug Division capital turnover that is find here by dividing sales by total assets

Capital turnover = $\frac{sales}{total\ assets}$ ......................1

put here value

Capital turnover = $\frac{2,000,000}{800,000}$

Capital turnover = 2.5 times

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3 years ago