Answer:
The correct word for the blank spaces are: asset; revenue.
Explanation:
By delivering goods expecting payment at a later date, Norbert Inc. is increasing its <em>accounts receivable</em>. This type of profit takes place when goods or services are provided in credit and the payment is set in the future. In the example, according to the Generally Accepted Accounting Principles (GAAP), the <em>accounts receivable must be debited to an asset account and credited to a revenue account</em>.
Answer:
Jana just found out that she is going to receive an end-of-year bonus of $32,200. She is in the 35 percent marginal tax bracket. Calculate her income tax on this bonus.
- tax liability = $32,200 x 35% = $11,270
Now assume that instead of receiving a bonus, Jana receives the $32,200 as a long-term capital gain. What will be her tax?
- tax liability = $32,200 x 15% = $4,830
Which form of compensation offers Jana the best after-tax return?
- if the bonus is taxed as a long term capital gain, she will páy less than half the taxes, so it is the best option for her
Would your calculation be different if the gain was short-term rather than long-term?
- Short term capital gains are taxed at the same rate as ordinary income, so the difference between the bonus being a long vs short term capital gain is very significant to Jana.
Answer:
The explanation of this question is given below in the explanation section.
Explanation:
The correct answer to this fill in blank question is workforce capability.
<u>The term workforce capability</u> refers to an organization’s ability to ensure sufficient staffing levels to accomplish its work processes and successfully deliver products and services to customers, including the ability to meet seasonal and varying demands.
Workforce Capability:
The term “workforce capability” refers to your organization’s ability to accomplish its work processes (might include all process to produce the product or service) through the knowledge (accumulated intellectual resources of organization), abilities, skills, and competencies of its people.
Capability may include the ability to build and sustain relationships with customers; to develop new products and work processes; o innovate and transition to new technologies; and to meet changing business, market, and regulatory demands.
Answer:
Net Cash Flows from operating activities is $68.5 million.
Explanation:
The indirect Method would be used here because all we will find the cash expenses and revenues that were converted into within the year and are reported in the income statement by calculating the increase and decrease in the current assets and current liabilities. Here we will also eliminate the non cash expense effects by adding them back.
The net cash flows from operating activities can be calculated using the following method:
Millions
1. Net Income 65
<u>Add Non Cash Deductions</u>
2. Depreciation 5.5
3. Loss on sale of Equipment 1.5
<u>Add / (Less) the increase or </u>
<u>decrease in current Assets or </u>
<u>liabilities</u>
4. Increase in Trade Receivables (2.5)
5. Increase in Trade Payables 3.5
6. Increase in inventory <u> (4.5) </u>
Net Cash Flows from operating activities $68.5
Answer:
Mio's foreign earned income exclusion is $99,960
Explanation:
The calculation of the Mio's foreign earned income exclusion is given below:
The foreign earned income exclusion limit for 2020 is $107,600
Now the foreign earned income exclusion depend on days equivalent to
= Foreign earned income exclusion limit × (2020 days ÷ total number of days in a year)
= $107,600 × (340 days ÷ 366 days)
= $99,960
Hence, Mio's foreign earned income exclusion is $99,960
