Answer:
$84
Explanation:
Calculation for the amount of cash in the fund before the replenishment for Pelcher Co.
Petty Cash $400
Less : Office Supplies ($110)
Less: Merchandise Inventory ($140)
Less :Miscellaneous ($70)
Add Cash Overage $4
Cash in Fund $84
Therefore the amount of cash in the fund before the replenishment for Pelcher Co will be $84
Answer:
Here is a sample of the most common marginalized groups:
GLBT.
Senior citizens.
Racial/Cultural minorities.
Military Combat Veterans.
Persons of below average intelligence.
Hearing, visually, and Physically Challenged Persons.
Persons with a serious and Persistent Mental Illness (SPMI)
Persons with Cognitive Impairments.
Answer:
Solvency Ratio = Total Net Worth / Total Assets
Solvency Ratio = 2,896/8,275
Solvency Ratio = 0.3499698
Solvency Ratio = 35.00%
Liquidity Ratio = Total Liquid Assets / Total Current Debts
Liquidity Ratio = 414/2,069
Liquidity Ratio = 0.20009667
Liquidity Ratio = 20.01%
Savings Ratio = Cash Surplus / Income After Taxes
Savings Ratio = 163.6667/1,342
Savings Ratio = 0.121957303
Savings Ratio = 12.20%
Debt Service Ratio = Total Monthly Payments / Monthly Gross Income
Debt Service Ratio = 295/1636.6667
Debt Service Ratio = 0.180244396
Debt Service Ratio = 18.02%
Answer:
Sabin
Home Office Deduction:
A) Assuming Sabin uses the "regular method" to compute the office in the home deduction, his deduction is:
= $962.
B) Assuming Sabin uses the "simplified method" to computer the office in the home deduction, his deduction is:
= $1,500.
Explanation:
a) Data and Calculations:
Gross business income $24,000
Home office space = 8%
Exclusive business expenses = $5,000
Qualified home office expenses:
Real property taxes $2,400
Mortgage interest 4,000
Depreciation 5,625 ($450/8%)
Total home office expenses $12,025
Deductions (8%) 962
b) Depending on whether Sabin chooses the simplified version or the regular method, his business expenses of $5,000 are deductible in addition to the above, from his business gross income of $24,000.
Answer:
Increase Net Cash From Operations on the Cash Flow Statement
Explanation:
Depreciation: It is a decrease in the value of the fixed assets due to tear and wear, obsolescence, usage, etc. It is only charged on fixed assets like building, plant and machinery, furniture and fixtures, etc.
Cash flow under operating activities: In this, the depreciation is added to the net income because it is a non-cash item and it records only cash transactions but in the income statement it is treated as an expense so the depreciation amount will be deducted.
It is added in the operating activity because to compute the accurate balance of the operating activity which ultimately increases the balance of the operating activity.