Answer: Accountants play major role in firms in handling financial records and auditing. Managers know financial information based on either background knowledge or learning on the job
Explanation:
The accountants are valuable to the organization because they monitor the monetary information that concerns the firm, they handle how cash come in and keep track of how they are spent, all these makes them valuable even to the extent of auditing information as regarding the firm. Managers might understand financial information either based on how they monitor what occurs in the organization or what they learnt in from college. But it's unsafe for the managers to handle financial situation without the aid of a professional accountant.
Answer:
Total tax ( Sheryl ) = $802
Explanation:
Tax status of Sheryl = Single
The rates to be used are
- Tax rate = 10% for single taxpayers with income between $0 through $9700
- Tax for income from estates that is between $2600 through $9300 will be $260 + 24% of excess over $2600
kiddie tax is applicable on earned income above $2200 ( defined by IRS )
attached below is a detailed table
Cash flow accessible Catering Corp. reported $8 million in free cash flows for 2013 and a $2 million investment in operating capital.
What exactly is free cash flow?
In corporate finance, free cash flow or free cash flow to the firm is the amount by which a company's operating cash flow exceeds its demands for working capital and fixed asset expenditures. The cash generated by a company after deducting cash outflows for operating expenses and capital asset upkeep is referred to as free cash flow (FCF).
To learn more about free cash flow
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Answer:
Find the answers below
Explanation:
a. Sales ……………………………………. Budgeted Income Statement
b. Administrative salaries paid…..Budgeted Income Statement
c. Accumulated depreciation………._____ Budgeted Balance Sheet
d. Depreciation expense……………Budgeted Income Statement
e. Interest paid on bank loan….….Budgeted Income Statement
f. Cash dividends paid…………………Budgeted Income Statement
g. Bank loan owed………………………Budgeted Income Statement
h. Cost of goods sold.........Budgeted Balance Sheet
Answer:
$96,000
Explanation:
Data provided in the question:
Cost of the machine purchased on January 1, 2016 = $144,000
Expected salvage value = $24,000
Estimated life of the machine = 5 years
Now,
Using the straight line method of depreciation
Annual depreciation = 
or
Annual depreciation = 
or
Annual depreciation = $24,000
Now,
the accumulated depreciation till beginning of the third year
= Depreciation for the two years
= Annual depreciation × 2
= $24,000 × 2
= $48,000
Therefore,
The book value at the beginning of the third year
= Cost - Accumulated depreciation
= $144,000 - $48,000
= $96,000
