Answer:
a. credit to Cash for $63,316.
Explanation:
Given;
Pension contribution by GL Inc. percentage = 11%
Salaries for the period = $575,600
Amount to be contributed = 11% × $575,600
= $ 63,316.00
To account for this, the required journal would be
Debit Pension Expense $ 63,316.00
Credit Cash account $ 63,316.00
The right option is a. credit to Cash for $63,316.
Answer:
$75,637.5
Explanation:
Sales = $225 million
Growth in sales = 10%
Inventory = $15 + 0.245(Sales)
(sales) S1 = $225,000,000 × 1.10
= $247,500,000
Inventory = $15 + 0.245 ($247.5)
= $15 + 60.6375
= 75.6375
Since this relationship is expressed in thousands of dollars,
Inventory = $75.6375 x $1000
= $75,637.5
Answer:
The four beliefs are true. But accuracy is demanded
Explanation:
1 Investment risk is important ir order to estimate the likelihood of occurrance of losses in the future.
2. money today is worth more than <em>the same amount </em>of money tomorrow.
3. inflation must be considered when making investment decisions, because makes money lose their value in the future.
4. investment opportunity costs must be considered. Is necessary to compare investments with financial products or other commercial activities.
Answer:
$100,000
Explanation:
According to the internal revenue service ''<u>In most situations, the basis of an asset is its cost to you.</u> <u>The cost is the amount you pay for it in cash</u>, debt obligations, and other property or services. Cost includes sales tax and other <u>expenses connected with the purchase</u>.''
Therefore Sebastian's basis in these two assets is unconnected with the fair market value of the assets but with the cost.
Purchased Equipment is always recorded at its acquisition cost or its net book value, that is after deducting the accumulated depreciation
. In the scenario we have no depreciation figures, hence the basis is the cost of $100,000
Answer:
True.
Explanation:
Inflation is an economic term that can be defined as the increase in the prices of a product on the market in a given period.
It can occur due to several factors, when there is an imbalance between supply and demand, then it is correct to say that when the demand for a product is greater than the supply, there will be an increase in prices and, consequently, inflation.
It can also occur when there are situations of monopoly, which is the pricing of a product controlled by a company.
Another factor that causes inflation is the increase in a company's production costs, which can be caused by factors such as scarcity, or economic crisis.
Uncontrolled inflation has a negative impact on the consumer's life, which starts to lose its purchasing capacity and has its quality of life reduced.
