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3 years ago

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Plz help me 25 points!!!! Thxxx <3

1 answer:

jarptica [38.1K]3 years ago

8 0

Answer:

Explanation:

The first one get advice and information is can I contact you with any other questions that I may have? The second one build your professional network is in what’s ways is my resume lacking if I want to find a psotion as a mechanic and the last one is the first one

I THINK THESE ARE THE CORRECT ANSWERS BUT TRY TO LOOK IT UP FIRST

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On January 1, 20Y3, The Simmons Group, Inc., purchased the assets of NWS Insurance Co. for $37,152,500, a price reflecting an $5

Triss [41]

Answer:

The Simmons Group, Inc.

a. December 31, 20Y9, the book value of Goodwill before impairment = $5,572,875

b. Effects on the accounts of the December 31, 20Y9 adjustment for the goodwill impairment:

1. Impairment loss of $3,901,012 will be accounted for in the Income Statement for the year, thus reducing the reported profits by $3,901,012.

2. Goodwill be reduced to $1,671,863 in the balance sheet by deducting the impairment loss of $3,901,012 from the book value before the impairment.

Explanation:

a) Data and Calculations:

Jan. 1, 20Y3, Purchase price of NWS Insurance Co. = $37,152,500

Goodwill on acquisition = $5,572,875

December 31, 20Y9, the book value of Goodwill before impairment = $5,572,875

Impaired value - $1,671,863

Impairment loss = $3,901,012 ($5,572,875 - $1,671,863)

b) The Goodwill impairment shows that the carrying amount, $1,671,863, is less than the fair value of $5,572,875. Goodwill is an intangible asset which Simmons Group acquired from NWS Insurance on January 1, 20Y3. It is annually tested for impairment by comparing the fair value with the carrying value.

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3 years ago

Suppose the tax rate on the first $10,000 income is 0 percent; 10 percent on the next $20,000; 20 percent on the next $20,00

olasank [31]

<span>Family A: marginal rate 20%, average rate 10%</span><span>

Family B: marginal rate 40%, average rate 23% </span><span>

The marginal tax rate is the rate paid on the last dollar of income; this would be whatever tax bracket the family is in. The average price is the total tax divided by the total revenue. </span><span>

Family A: </span><span>
</span><span>
total income $40,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), and $10,000 at 20% (tax of $2,000). The last rate paid is 20% so that is the marginal rate; the total tax paid is $4,000, divide that by $40,000 total income, that is the average rate. </span><span>

Family B: </span><span>
</span><span>
total income $100,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), $20,000 at 20% (tax of $4,000), $30,000 at 30% (tax of $9,000), and $20,000 at 40% (tax of $8,000). The last rate paid is 40% so that is the marginal rate; the total tax paid is $23,000, divide that by $100,000 total income, that is the average rate.</span>

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4 years ago

Alex receives a raise at work and continues to work the same number of hours each week. what is the most likely way that his dem

Murljashka [212]

An inferior good is a type of welfare whose demand decreases when consumer income increases or demand increases when consumer income decreases. Therefore, if a consumer considers shirts to be inferior goods, the way he will stop consuming it will be when there is a real increase in his income.

In the case narrated, Alex had an increase in salary and remained working for the same number of hours. This means that with the same job, he will have a higher income, meaning there was a real increase in Alex's income. If he considers the $ 3 shirts a much lower asset, he will lessen the demand for it.

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4 years ago

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Which of the following statements is true regarding depreciation methods?

r-ruslan [8.4K]

Answer:

The correct answer is letter "D": The use of a higher estimated life and a higher residual value will lower the annual amount of depreciation expense recognized on the income statement.

Explanation:

Depreciation distributes the cost and cost over the useful life of the assets of tangible and real assets. A business could depreciate an asset over a period of up to thirty years, depending on the type of asset it is. There are many depreciation methods but, among the most common we can find the <em>Straight-line method, the Double Declining Balance method</em>, and <em>the Units of Production method</em>. As long as the estimated life of the asset and its residual value is high, the amount filed for the depreciation will be lower.

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3 years ago

Q 6.41: Which of the following companies is most likely to have lost sales due to an inventory shortage? Company 1 has an invent

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Answer:

Company 1 is most likely to have lost sales due to an inventory shortage.

Explanation:

Inventory turnover is the ratio that how many time a business has sold or replaced the inventory during a given period. A business is considered more profitable if it has high inventory turnover.

Company with highest Inventory turnover may lost sales due to inventory shortage. Company 1 1 has the highest inventory turnover of 46.3. Which may lead to to the shortage of stock because the inventory in stock is more likely to sold earlier than other companies. High inventory turnover will lead to low inventory days.

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