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3 years ago

If you are creating a business what expenses should you include

1 answer:

3 0

1. keep a good track record of business expenses.

2. know which expenses can be deducted.
(THE FOLLOWING 3-9 ARE FULLY DEDUCTIBLE EXPENSES!!)
3. Fees, dues, and subscriptions.

4. Advertising, marketing, and promotion.

5. Labor.

6. Benefits, continuing education, or training.

7. Other insurance.

8. Office equipment and supplies.

9. Rent, Utilities, and Phones.

10. (These could be deductible )
Gifts, Meals, and Entertainment.

11. SPLIT PERSONAL AND BUSINESS EXPENSES

12. Home office, and mileage.

I hope i could help! good luck :)

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Michigan Mattress Company is considering the purchase of land and the construction of a new plant. The land, which would be boug

swat32

Answer:

6 years

Explanation:

The Payback period calculates how much it takes the amount invested in a project to be recovered from the cumulative cash flow.

Total amount invested = $500,000 + $100,000 = $-600,000

Cash inflow in year 2 = $100,000

Amount recovered in year 2 = $-600,000 + 100,000 = $-500,000

Cash inflow in year 3 = $100,000 × 1.1 = 110,000

Amount recovered in year 3=$-500,000 + 110,000 = $-390,000

Cash inflow in year 4= $121,000

Amount recovered in year 4 = $-390,000 + $121,000 = $-269,000

Cash inflow in year 5= $133,100

Amount recovered in year 5 = $-269,000 + $133,100 = $-135,900

Cash inflow in year 6 = $146,410

Amount recovered in year 6 = $146,410 $-135,900 = $10,510

The amount is recovered In 5.93 years

I hope my answer helps you

8 0

3 years ago

After the accounts are adjusted and closed at the end of the fiscal year, accounts receivable has a balance of $340,000 and allo

bija089 [108]

340,000-51,000=$289,000

3 0

3 years ago

Identify which characteristic describes common stock (CS) or preferred stock (PS) financing. May have cumulative and participati

shepuryov [24]

Answer:

Common Stock (CS)

Places minimum operating constraints on the firm. - Common stock does not have to be paid dividends so place no obligations on the firm.
Last to receive distribution of assets in the event of bankruptcy and liquidation. - CS is paid last when assets are liquidated as debt and preferred stockholders are paid off first.

Preferred Stock (PS)

May have cumulative and participating features. - Can be cumulative which means that if dividends are not paid in one year, the dividend will be accrued and eventually paid or they can be Participating which means that they can receive more dividends than they are entitled to.
May be convertible into another type of security. - Preference shares can be converted into other securities such as Common stock.

7 0

3 years ago

How can the Richards bay minerals improve on high crime rate

STatiana [176]

The richard bay minerals could improve on high crime rate by requesting support/assistance from the local government. With the support, they manage to handle most of the crime activities and maintaining their productivity at the same time. Currently, they are winning against the crimes<span />

5 0

3 years ago

Exercise 5-8 Equivalent Units; Cost per Equivalent Unit; Assigning Costs to Units-Weighted-Average Method [LO5-2, LO5-3, LO5-4]

S_A_V [24]

Answer:

1. Calculate the first production department's equivalent units of production for materials and conversion for May.

materials = 275,000 + 50,000 = 325,000
conversion = 275,000 + 12,500 = 287,500

2. Compute the first production department's cost per equivalent unit for materials and conversion for May.

materials = $169,000 / 325,000 = $0.52
conversion = $253,000 / 287,500 = $0.88

3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.

materials = 50,000 x $0.52 = $26,000
conversion = 12,500 x $0.88 = $11,000
total = $37,000

4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.

materials = 275,000 x $0.52 = $143,000
conversion = 275,000 x $0.88 = $242,000
total = $385,000

Explanation:

Beginning WIP 70,000 units

materials $56,100

conversion $16,400

Ending WIP 50,000 units

100% completed for materials (50,000 EU)

25% completed for conversion (12,500 EU)

units started 255,000

total units transferred out 275,000

materials cost added during the period = $112,900

conversion cost added during the period = $236,600

7 0

3 years ago