Answer:
ROLLINS AND COHEN, CPA PROFESSIONAL FEE EARNED BUDGET
FOR THE YEAR ENDED DECEMBER 31, 2016
SERVICE HOURS RATE TOTAL
AUDIT:
Staff 22,400 $150 $3360000
Partners 7,900 $320 $2528000
TOTAL REVENUE $5888000
TAX:
Staff 13,200 $150 $1980000
Partners 5,500 $320 $1760000
TOTAL REVENUE $3740000
SMALL BUSINESS ACCOUNTING:
Staff 3,000 $150 $450000
Partners 600 $320 $192000
TOTAL REVENUE $642000
GRAND TOTAL $10,270,000.00
Explanation: Budgeting is a process of forecasting the financial of a company. Its is a projection of the revenue and expenses of a company. This aids planning for the future.
Answer:
The correct answer is A.
Explanation:
Given the following information, the total contribution margin is:
Sales Revenue $5,000
Variable cost of goods sold 2,700
Full cost of goods sold 2,900
Fixed selling and admin. expenses 1,100
Variable selling and admin. expenses 800
Contribution margin= Sales revenue - total variable cost
CM= 5,000 - 2,700 - 800= 1,500
Answer:
The correct answer is shown below:
Explanation:
Cash discount is the discount, which is a deduction allowed or provided through sellers of the goods and services so that could motivate the customers or consumers to pay within the particular time period.
So, the statements which summarize are:
1. The sellers offer cash discount, will acknowledge as the sales discount.
2. The buyer refer or acknowledge the cash account as purchase account.
3. The cash accounts are defined as the credit terms.
4. The sellers could grant cash discount in order to encourage the buyers to pay earlier.
5. The payment which is reduced applies to the credit period.
Answer:
Financial literacy is the capacity to grasp and use different financial skills effectively.
