All categories

3 years ago

Which of the following is a employer-sponsored retirement plan that allows

Business

2 answers:

Ghella [55]3 years ago

7 0

Answer:

Roth 401k

Explanation:

A Roth 401(k) is funded with after-tax dollars up to the plan's contribution limit and Withdrawals are tax-free.

Travka [436]3 years ago

4 0

Answer:

roth 401K

Explanation:

a.p.e.x.

You might be interested in

The Laresen Company uses the machine hour method of applying factory overhead to production. The budgeted factory overhead last

Pani-rosa [81]

Answer:

Total cost= $1,375

Explanation:

Giving the following information:

The budgeted factory overhead last year was $200,000, and there were 40,000 machine hours budgeted.

Job 84:

Direct materials= $900

direct labor hours= 25

Direct labor cost= $350.

First, we need to calculate the manufacturing overhead rate based on direct labor hours:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 200,000/40,000= $5 per direct labor hour

Now, we can calculate the total cost:

Total cost= direct material + direct labor + allocated overhead

Total cost= 900 + 350 + 5*25= $1,375

6 0

3 years ago

Buttner Company borrows $88,500 on September 1, 2014, from Harrington State Bank by signing an $88,500, 12%, one-year note.

oksian1 [2.3K]

Answer:

C.) $3,540

Explanation:

The loan borrowed is the Principal = $88,500

Interest rate per year = 12% or 0.012 as a decimal

Interest accrued formula = Principal * rate * time

Note: time will be from Sep1 - Dec 31 = 4 months or $\frac{4}{12}$ years

Interest accrued = 88,500 * 0.012 * $\frac{4}{12}$

Interest accrued = 3,540

Therefore, as of December 31st, 2014, $3,540 would be the interest accrued hence choice C is correct.

4 0

3 years ago

The greater the chances are that an investment could lose money, the greater the __________ for the investor.

Leona [35]

d. active involvement

8 0

4 years ago

Read 2 more answers

Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 14,000 Selling price per unit $ 16

DanielleElmas [232]

Answer:

Results are below.

Explanation:

First, we need to calculate the cost of goods sold:

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 12,000 + 87,000 - 23,000

COGS= $76,000

Traditional format income statement:

Sales= 14,000*16= 224,000

COGS= (76,000)

Gross profit= 148,000

Total selling expense= (20,000 + 14,000*1)= (34,000)

Total administrative expense= (13,000 + 14,000*1)= (27,000)

Net operating income= 87,000

Contribution format income statement:

Sales= 14,000*16= 224,000

Total variable cost= (76,000 + 14,000 + 14,000)= (104,000)

Contribution margin= 120,000

Total fixed selling expense= (20,000)

Total fixed administrative expense= (13,000)

Net operating income= 87,000

5 0

3 years ago

For each transaction, indicate the impact each item had on income and the dollar amount of the change in income, if any. Input d

Helga [31]

Answer:

Lowe Company

1. Impact on Income and the Dollar Amount:

Aug. 1 No impact

Aug. 5 +$5,200 - $4,000 = +$1,200

Aug. 8 No impact

Aug. 9 = -$125

Aug. 10 -$600 +$400 = -$200

Aug. 12 None

Aug. 14 None

Aug. 15 -$92

Aug. 18 +$50

Aug. 19 +$4,800 -$2,400 = $2,400

Aug. 22 -$500

Aug. 29 -$43

Aug. 30 None

Total = +$2,690

2. Journal Entries:

Aug. 1 Debit Inventory $7,500

Credit Accounts Payable (Aron Company) $7,500

Purchase of goods on credit terms of 1/10, n/30, FOB destination, invoice dated August 1.

Aug. 5 Debit Accounts Receivable (Baird Corp.) $5,200

Credit Sales Revenue $5,200

Sale of goods on credit terms of 2/10, n/60, FOB destination, invoice dated August 5.

Debit Cost of goods sold $4,000

Credit Inventory $4,000

Cost of goods sold.

Aug. 8 Debit Inventory $5,400

Credit Accounts Payable (Waters Corporation) $5,400

Purchase of goods on credit terms of 1/10, n/45, FOB shipping point, invoice dated August 8.

Aug. 9 Debit Freight-in $125

Credit Cash $125

Freight-in paid for cash.

Aug. 10 Debit Sales Returns $600

Credit Accounts Receivable (Baird Corp.) $600

Goods returned by a customer.

Debit Inventory $400

Credit Cost of goods sold $400

Cost of returned goods.

Aug. 12 Debit Accounts Payable (Waters Corporation) $400

Credit Inventory $400

Price reduction granted by Waters.

Aug. 14 Debit Accounts Payable (Aron) $200

Credit Cash $200

Part-payment to Aron on account.

Aug. 15 Debit Cash $4,508

Debit Cash Discounts $92

Credit Accounts Receivable (Baird Cop.) $4,600

Cash received on account.

Aug. 18 Debit Accounts Payable (Waters Corporation) $5,000

Credit Cash $4,950

Credit Cash Discounts $50

Cash payment on account.

Aug. 19 Debit Accounts Receivable (Tux Co.) $4,800

Credit Sales Revenue $4,800

Credit sales on terms of n/10, FOB shipping point, invoice dated August 19.

Debit Cost of goods sold $2,400

Credit Inventory $2,400

Cost of goods sold.

Aug. 22 Debit Sales Allowances $500

Credit Accounts Receivable (Tux Co.) $500

Sales allowances granted to Tux Co. on account.

Aug. 29 Debit Cash $4,257

Debit Cash Discounts $43

Credit Accounts Receivable (Tux Co.) $4,300

Aug. 30 Debit Accounts Payable (Aron Company) $7,300

Credit Cash $7,300

Cash payment on account.

Explanation:

a) Data and Analysis:

Aug. 1 Inventory $7,500 Accounts Payable (Aron Company) $7,500

credit terms of 1/10, n/30, FOB destination, invoice dated August 1.

Aug. 5 Accounts Receivable (Baird Corp.) $5,200 Sales Revenue $5,200

credit terms of 2/10, n/60, FOB destination, invoice dated August 5.

Cost of goods sold $4,000 Inventory $4,000

Aug. 8 Inventory $5,400 Accounts Payable (Waters Corporation) $5,400

credit terms of 1/10, n/45, FOB shipping point, invoice dated August 8.

Aug. 9 Freight-in $125 Cash $125

Aug. 10 Sales Returns $600 Accounts Receivable (Baird Corp.) $600

Inventory $400 Cost of goods sold $400

Aug. 12 Accounts Payable (Waters Corporation) $400 Inventory $400

Aug. 14 Accounts Payable (Aron) $200 Cash $200

Aug. 15 Cash $4,508 Cash Discounts $92 Accounts Receivable $4,600

Aug. 18 Accounts Payable (Waters Corporation) $5,000 Cash $4,950 Cash Discounts $50

Aug. 19 Accounts Receivable (Tux Co.) $4,800 Sales Revenue $4,800 credit terms of n/10, FOB shipping point, invoice dated August 19. Cost of goods sold $2,400 Inventory $2,400

Aug. 22 Sales Allowances $500 Accounts Receivable (Tux Co.) $500

Aug. 29 Cash $4,257 Cash Discounts $43 Accounts Receivable $4,300

Aug. 30 Accounts Payable (Aron Company) $7,300 Cash $7,300

8 0

3 years ago