Answer:
The Journal entry are as follows:
(i) On May 31,
Miscellaneous Expense A/c Dr. $50
To cash A/c $50
(To record bank service charges)
(ii) On May 31,
Supplies A/c Dr. $18
To cash A/c $18
(To record difference in recording)
Workings:
Supplies = $97 - $79
= $18
Answer:
$-148,867.17
Explanation:
Present value of inflows=cash inflow*Present value of discounting factor(rate%,time period)
=42000/1.15+44000/1.15^2+45000/1.15^3+50000/1.15^4+650,000/1.15^5
=$451132.83
NPV=Present value of inflows-Present value of outflows
=$451132.83-$600,000
=($148867.17)(Approx)(Negative figure)
Hence since NPV is negative;investment must not be made.
Answer:
- We assume the Tax year to be 2019
- Jack and Kendra are classified as Married Filling Jointly - 2019. If any of the clients have only Social Security benefits without any other taxable income, then, there is no need for such clients to file a tax return.
Here, Jack and Kendra are retired couples and has no other source of income except the Social Security benefit (and the Military pension is not taxable). Also, the interest income is very less than the Standard deduction itself which is $27,000. So, none of the couples social security benefit is taxable for the tax year 2019.
Answer:
Total Assets on the Balance Sheet is $241,236.
Explanation:
Total Assets would include the total from the Non Current Assets Section and the total from the Current Assets Section of the Balance sheet.
Here is an extract of the Assets Section of the Balance Sheet :
Assets
<u>Non-Current Assets</u>
Equipment $54,928
Total Non-Current Assets $54,928
<u>Current Assets</u>
Inventories $25,896
Supplies $5,592
Accounts receivable $81,416
Cash $73,404
Total Current Assets $186,308
Total Assets $241,236
Answer: Option E
Explanation: In simple words, bench strength refers to the ability of an organisation members to take more responsibility when required and step up their performance in times of distress.
In the given case, the employees of Social byte are able enough to take more responsibility readily.
Hence from the above we can conclude that the correct option is E.