Financial managers use data prepared by accountants to develop strategies for improving the financial performance of the firm.

Last year mike bought 100 shares of dallas corporation common stock for $53 per share. during the year he received dividends of

Pepsi [2]

Mike brought 100 shares costing $53 each.
Total costs of shares= 100*53
=$5300

He got dividends of $1.45 per share. A dividend is money that is earnt back from a share.
Total dividend amount = 1.45*100
=$145

I'm assuming that Mike sold his shares at the end of the year. He sells for $60 each.
Total sales amount=60*100
=$6000

The rate of return in this instance can be defined as the amount of money made back from a share.

Rate of return= total earnings/ costs

Total costs= $5300
Total earnings=$6145

6145/5300=1.1594
=15.9%

Hope this helps! :)

4 0

3 years ago

If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is

guajiro [1.7K]

If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is Progressive tax.

<h3>What is meant by progressive taxes?</h3>

The average tax burden rises with income under a progressive tax. Low- and middle-income taxpayers bear a disproportionately tiny amount of the tax burden, compared to high-income families. A tax system that raises rates as taxable income rises is known as a progressive tax. Taxes on investment income, interest income, rental income, estates, and tax credits are a few examples of progressive taxes.

Based on the amount of tax you must pay relative to your income, taxes can be classified as regressive, proportional, or progressive. As your income declines, regressive taxes force you to pay a bigger proportion of your individual income in taxes. Tax reductions enhance people' discretionary income while reducing the government's revenue. Tax reductions typically refer to decreases in the percentage of income, commodities, and services subject to tax. Tax reductions serve as an illustration of an expansionary fiscal strategy since they give consumers greater discretionary income.

So, If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is Progressive tax.

Learn more about Progressive tax here

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5 0

2 years ago

Double-declining balance On January 1, 2021, the Excel Delivery Company purchased a delivery van for $51,000. At the end of its

agasfer [191]

Answer:

$18,480

Explanation:

Cost of van = $51,000

Useful life = 5 years

Salvage value = $4,800

Using the straight line, Annual depreciation

= (51000 - 4800)/5

= $9,240

Using the Double-declining balance method,

Annual depreciation = 2 × 9,240

= $18,480

3 0

3 years ago

When examining whether a company has underrecorded accounts payable, all of the following ratios are helpful EXCEPT: a. Quick as

Valentin [98]

<u>Answer:</u> Option B

<u>Explanation:</u>

Under recording the liability in the balance sheet such as accounts payable may become a liability fraud case. It is significant that the balance sheet has to be analysed using the acid test ratio which is quick assets/current liabilities. If this ratio has increased suddenly then it is clear that the accounts payable is understated.

Unearned revenue/ accounts payable ratio is used to determine the current liability of the company. This ratio cannot be used to find the under recorded accounts payable.

3 0

3 years ago

Alpine West, Inc., operates a downhill ski area near Lake Tahoe, California. An all-day, adult ticket can be purchased for $80.

telo118 [61]

Answer:

Alpine West, Inc.

a. When Alpine West, Inc. should recognize revenue from the sale of its season passes evenly over five months from December to April when the passes are put to use.

b. General Journal for

November 6:

Debit Cash Account $460

Credit Deferred Revenue $460

To record the purchase of a season ticket or pass by Jake Lawson.

December 31:

Debit Deferred Revenue $92

Credit Service Revenue $92

To record the ski service consumed by Jake Lawson for December.

c. In Alpine West, Inc.'s income statement and balance for 2013, the following amounts will be included in relation to the sale of the season pass to Jake Lawson:

Income Statement: Service Revenue $92 and related costs.

Balance Sheet: Deferred Revenue (Liabilities side) $368 ($460 - 92).

Explanation:

Alpine West, Inc. will make the above entries in accordance with the accrual concept and matching principle of generally accepted accounting principles. These require that revenue, income, and expenses related to a period must be accrued for that period whether actually received / paid or not. It also means that the costs incurred for any revenue generated must be matched to the revenue and vice versa for that particular period.

7 0

4 years ago