Answer:
My state is Wisconsin, and Wisconsin does not levy a state inheritance tax, nor a estate tax, being one of the 34 states that do not levy any of these two taxes.
This is in contrast with the federal leve, because there is a federal inheritance tax, although with a quite high exemption of around 11 million for individuals, and of 22 million for married couples.
Answer:
Dr Accounts Receivable
Cr Allowance for Doubtful Accounts
Dr Cash
Cr Accounts Receivable
Explanation:
Based on the information given we were told that two months ago when the company customer went bankrupt the company first wrote off the amount of $350 in accounts receivable in which the customer later reorganizes and now pays the amount of $350 which means that what the company should do is to first Debit Accounts Receivable and Credit Allowance for Doubtful Accounts and Then Debit Cash and Credit Accounts Receivable.
Dr Accounts Receivable
Cr Allowance for Doubtful Accounts
Dr Cash
Cr Accounts Receivable
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Variable costs per unit:
Direct materials $ 26
Direct labor $ 25
Variable manufacturing overhead $ 4
Variable selling and administrative expense $ 4
Under the variable cost method, the unitary cost of production is calculated as:
Unitary variable cost= direct material + direct labor + variable overhead
Unitary VC= 26 + 25 + 4= $55
The formula for calculating the direct labor standard is:
Direct labor standard = Basic wages + Payroll tax
or
Direct labor standard = Basic wages + 25% of Basic wages
Substituting the given values into the equation:
Direct labor standard = $19 + 0.25 * $19
<span>Direct labor standard = $23.75</span>
Answer:
$425 is the free cash flow which the firm generate during the just-completed year
Explanation:
The formula to compute free cash flow is shown below:
EBIT ( 1-tax rate) + Depreciation & Amortization - Change in Net working Capital - Capital Expenditure
where,
EBIT (1 - tax) = NOPAT
Change in Net working capital = Current year Total operating capital - Last year Total operating capital
= $2,500 - $2,000
= $500
And, the Capital Expenditure is not given
So, the free cash flow is
= $925 - $500
= $425