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astraxan [27]
3 years ago
11

On February 1, 2020, Bonita Industries factored receivables with a carrying amount of $645000 to Sandhill Co.. Sandhill Co. asse

sses a finance charge of 3% of the receivables and retains 5% of the receivables. Relative to this transaction, you are to determine the amount of loss on sale to be reported in the income statement of Bonita Industries for February. Assume that Bonita factors the receivables on a without recourse basis. The loss to be reported is
Business
1 answer:
malfutka [58]3 years ago
5 0

Answer:

$19,350

Explanation:

The finance charge is 3%. If the 5% retention is a non-refundable security, then the total loss would be 8% (3%+5%).

The nature of the retention is not given, so it is considered that it is refundable, then the total loss would be $19,350 ($645,000*3%).

Thus, the total loss to be reported is $19,350

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Tax rates for proprietorships, partnerships, and LLCs ______ with the passage of the Tax Cuts and Jobs Act of 2017.
Alex73 [517]

The provision on tax rates for proprietorship, partnerships, and LLCs <u>changed</u> with the passage of the Tax Cuts & Jobs Act.

<h3>What is the Tax Cuts & Jobs Act?</h3>

The Tax Cuts & Jobs Act is a legislation that guides tax rate on income and addresses concerns about tax credit for employers.

In conclusion, the provision on tax rates for proprietorship, partnerships, and LLCs <u>changed</u> with the passage of the Tax Cuts & Jobs Act.

Read more about Tax Cuts & Jobs Act

<em>brainly.com/question/26171421</em>

5 0
2 years ago
Labor Input Physical output 10 500 11 600 12 690 13 760 14 800 Refer to the above table, answer the following questions: A. If t
Mama L [17]

Answer:

Explanation:

Labor Input       Physical output  

    10                              500

     11                               600

     12                              690

     13                              760

     14                               800

marginal output of 11 th labor = 600 - 500 = 100

price of each product = 7

marginal revenue product  of 11 th labor  7 x 100 = 700

B )

price of each of  the goods sold = 10

marginal factor cost of labour = 700

minimum no of goods to be sold to cover the labour cost

= 700 / 10 = 70

no of goods added due to  addition of 11 the labour = 100

no of goods added due to  addition of 12 the labour = 90

no of goods added due to  addition of 13 the labour = 70

so no of units of labor upto which  the firm will continue to hire

= 13 .  

7 0
3 years ago
Scheduling personnel is an example of an operations management:
Molodets [167]

Answer:

B. operational decision

Explanation:

Scheduling personnel is an example of an operations management:  operational decision

6 0
3 years ago
A flexible budget performance report compares the differences between: budgeted performance over several periods. actual perform
salantis [7]

Answer:

It compare the difference among the actual performance and budgeted performance grounds on the volume of actual sales.

Explanation:

Flexible budget performance report is the report which is used for comparing or analyzing the actual results or outcomes for the period with the budgeted outcomes and it is generated through the flexible budget.

In short, it is that report which is the management report and compares the actual revenues as well as costs for the year with the budgeted revenues as well as costs grounded on the volume of actual sales.

4 0
4 years ago
Shawn has asked you for some advice regarding the use of social networking in the workplace. Which of the following is good advi
Nana76 [90]

Answer:

Establish boundaries, and don't share information online that you wouldn't share openly in the office.

Explanation:

Shawn is looking for advice on the use of social networking in the workplace, the best advice is to establish boundaries, and don't share information online that you wouldn't share openly in the office.

Establishing boundaries means that personal information that is sensitive should not be shared using this channel, as it can be seen to be unprofessional in the workplace.

Sharing of information should be with a professional mind set, one should not assume that content is protected on social media. So only post what you can openly share in the office, and avoid controversial topics that can put one in a bad light in the office.

7 0
3 years ago
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