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enot [183]
2 years ago
13

Mayo Corp. has estimated that total depreciation expense for the year ending December 31, 2018 will amount to $600,000, and that

2018 year-end bonuses to employees will total $1,200,000. In Mayo's interim income statement for the six months ended June 30, 2018, what is the total amount of expense relating to these two items that should be reported
Business
1 answer:
Vanyuwa [196]2 years ago
3 0
$900,000

Depreciation for the year $600,000
Employee bonuses $1,200,000
Total expenses for the year 1,800,000
Expenses to be reported in interim income statement 1,800,000=$900,000
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Your son is born today and you want to make him a millionaire by the time he is 50 years old. You deposit $50,000 in an investme
mel-nik [20]

Answer:

1000000= 50000 (1+ \frac{i}{1})^{1*50}

20 = (1+i)^{50}

20^{1/50} = 1+i

i = 20^{1/50} -1 = 0.0617

And if we convert this into % we got i = APR = 6.17 \%

See explanation below.

Explanation:

We assume that we have compounding interest.

For this case we can use the future value formula given by:

FV= PV (1+\frac{i}{n})^{nt}

Where:

FV represent the future value desired = 1000000

PV= represent the present value = 50000

i = the interest rate that we desire to find in fraction

n = number of times that the interest rate is compounding in 1 year, since the rate is annual then n=1

t = represent the number of years= 50 years

So then we have everything in order to replace and we got:

1000000= 50000 (1+ \frac{i}{1})^{1*50}

Now we can solve for the interest rate i like this:

20 = (1+i)^{50}

20^{1/50} = 1+i

i = 20^{1/50} -1 = 0.0617

And if we convert this into % we got i = APR = 6.17 \%

7 0
3 years ago
Sunland Company had the following department data: Physical Units Work in process, beginning 0 Completed and transferred out 909
ElenaW [278]

Answer:

Equivalent units of production= 98,700

Explanation:

Giving the following information:

Physical Units Work in process, beginning 0

Completed and transferred out 90,900

Work in process, ending 7,800

Materials are added at the beginning of the process.

<u>To calculate the equivalent units, we need to use the following formula:</u>

<u></u>

Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production

Equivalent units of production= 0 + 90,900 + 7,800*1

Equivalent units of production= 98,700

Because the materials are added at the beginning of the process, the percentage of completion is 100%.

4 0
3 years ago
Which of the following is true?
kifflom [539]

Answer:

the correct option is c) change in the money wage and other resource prices does not shift the long run aggregate supply

Explanation:

First of all aggregate supply can be defined as the sum total of all the goods and services that are supplied in the economy during a defined period of time.

In the given question the option C is right because it is assumed that in the case of long run aggregate supply , the supply curve tends to remain static because any kind of change in the aggregate demand causes only temporary changes in the total output of the economy and the slope of the curve remains vertical. It is also assumed that the economy is being used at optimal as only factors like labor, capital, and technology can bring in aggregate supply.

Options a) and b) can't be true because if the supply curve is gonna shift , it is first going to shift in short run aggregate supply then long run aggregate supply , not the other way around.

6 0
3 years ago
LNS Corporation generated a minimum tax credit of $100,000 in 2017. LNS has a regular tax liability of $80,000 in 2018. How much
erik [133]

Answer:

$10,000

Explanation:

Calculation for How much of the 2017 minimum tax credit is refundable to LNS in 2018

Refundable minimum tax credit=($100,000-$80,000)*50%

Refundable minimum tax credit=$20,000*50%

Refundable minimum tax credit=$10,000

Note that the 50% represent the refund of the minimum tax credit that is still remaining

Therefore How much of the 2017 minimum tax credit is refundable to LNS in 2018 will be $10,000

5 0
3 years ago
Kojin works for a social media website that caters to senior adults and allows them to engage with their families over the Inter
ladessa [460]

Answer:

the marketing manager or director

Explanation:

The marketing manager or director (depends on the organizational layout) is the individual responsible for leading the marketing department or unit of the company. He or she is the one in charge of overseeing and controlling new and existing marketing strategies and campaigns.

6 0
3 years ago
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