Answer and Explanation:
The preparation of the balance sheet is presented below:
Assets
cash $11,000
account receivable $15,000
equipment $10,000
buidlings $65,000
land $31,000
Total assets $132,000
Liabilities and stockholder equity
Account payable $11000
common stock $80,000
retained earnings $41,000
Total Liabilities and stockholder equity $132,000
Answer: C.$221.86
Explanation:
Contribution Margin is the difference between the sales price and the variable costs.
Best case scenario of Sales would mean it is the higher amount.
Best case scenario of costs would mean the lower amount.
Best case Sales
= 349 * ( 1 + 3%)
= $359.47
Best Case Variable Cost
= 139 * ( 1 - 1%)
= $137.61
Best Case Contribution Margin
= Best case Sales - Best Case Variable Cost
= 359.47 - 137.61
= $221.86
Answer:
$740.8
Explanation:
To answer this question the following steps are undertaken
1) We consider the Marginal tax bracket Art falls within. And it becomes obvious that his bracket in 2020 is higher than that of 2019. The implication of this discovery is that claiming expenses in 2020 will save more taxes for Art than in 2019.
2) What is his tax savings in 2020 = $10,000 x (0.32-0.24) = $800
Finally, since the present value of tax savings is 0.926
Then the tax savings to realize for 2020 is
$800 x 0.926 = $740.8
The answer should be c͟o͟m͟m͟u͟n͟i͟c͟a͟t͟i͟o͟n͟, but this question seems a bit vague.