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1 year ago

What term can be used to describe the situation where your fixed and variable expenses are higher than your net income.(1 point)

1 answer:

8 0

The term that describes the situation where fixed and variable expenses are higher than net income is D. dissaving.

Dissaving happens when an individual is spending from either previous savings or borrowing to fund current expenses.

Dissaving is commoner with retirees than those currently employed. But it can also happen to currently-employed persons, whose expenses are more than their incomes. They should find strategies to stop the negative saving. Otherwise, their debts may be overbearing in future.

Thus, dissaving means negative saving or spending more than income.

Learn more: brainly.com/question/13954775

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Some people outside the United States say teens exposed to large doses of U.S. culture on MTV will identify less with their own

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3 years ago

term in 2013, bodily corporation reported $300,000 pretax accounting income. the income tax rate for that year was 30%. bodily h

Neporo4naja [7]

The Bodily corporation's income tax payable for the year 2013 will be $54,000 at 30% tax rate.

Given,

Pretax accounting Income: $300,000

Unused net operating loss =$120,000

Income tax rate = 30%

Bodily's income tax payable for 2013 would be =

(300000 -120000) *30% = $54000

A tax levied against people or organizations (taxpayers) in proportion to their income or profits is known as an income tax. Tax rates multiplied by taxable income are typically used to calculate personal income taxes. Tax rates might change depending on the taxpayer's attributes and source of earnings.

As taxable income goes up, the tax rate might also (referred to as graduated or progressive tax rates). Corporation tax, which is often imposed at a fixed rate, is the name given to the tax charged on businesses.

The complete question is here:

In 2016, Bodily Corporation reported $300,000 pretax accounting income. The income tax rate for that year was 30%. Bodily had an unused $120,000 net operating loss carryforward from 2011 when the tax rate was 40%.

Bodily's income tax payable for 2013 would be:

a) $90,000

b) $72,000

c) $54,000

d) $42,000

Learn more about income tax here:

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5 0

5 months ago

Rosario, a department manager, has been dealing with two workers in her department who do not get along. Due to family problems

Degger [83]

Answer:

The correct answer would be option C, Disturbance Handler.

Explanation:

A Disturbance Handler is usually the manager who takes charge when an unexpected dispute or roadblock arises within the team of the organization. So in the given question, when two workers in his department could not go along and had a harsh argument with each other due to some family problem between them, Rosario meets both of them to resolve the issue between them. He, being a manager, played the managerial role of Disturbance Handler to make them come to a conclusion and stop their arguments. He is basically handling the disturbance, caused by both employees on the workplace.

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3 years ago

GenÃ¨ve is a member of the board of directors and the chief financial officer of the corporation. Under the duty of care that sh

loris [4]

Answer:

The correct answer is c."oversee every aspect of the business, including such things as ordering merchandise and arranging for janitorial services."

Explanation:

The chief financial officer is the person in charge of the financial administration of the organization, their tasks are focused on planning, implementing and analyzing the financial information of the company. Therefore, a chief financial officer like Genevieve does not get involved in activities such as ordering merchandise and arranging for janitorial services.

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2 years ago

Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the issuance under the following assumptions.

Artyom0805 [142]

Answer:

The journal entries will as under the explanation below.

Explanation:

(a) The stock had a par value of $5 per share and was issued for a total of $52,000.

Account Name Dr ($) Cr ($)

Cash 52,000

Common stock (2,000 * 5) 10,000

Paid in capital in excess of per value 42,000

(To record common stock issued in excess of par value.)

(b) The stock had a stated value of $5 per share and was issued for a total of $52,000.

Account Name Dr ($) Cr ($)

Cash 52,000

Common stock (2,000 * 5) 10,000

Paid in capital in excess of stated value 42,000

(To record common stock issued in excess of stated value.)

Note: The stated value is used for internal accounting purpose when there is no par value for the stock.

(c) The stock had no par or stated value and was issued for a total of $52,000.

Account Name Dr ($) Cr ($)

Cash 52,000

Common stock 52,000

(To record common stock issued that had no par or stated value.)

Note: When stock had no par or stated value, the total proceeds from the issue becomes the legal capital.

(d) The stock had a par value of $5 per share and was issued to attorneys for services during incorporation valued at $52,000.

Account Name Dr ($) Cr ($)

Attorney service expenses 52,000

Common stock (2,000 * 5) 10,000

Paid in capital in excess of per value 42,000

(To record common stock issued to attorneys for services at a premium.)

(e) The stock had a par value of $5 per share and was issued for land worth $52,000.

Account Name Dr ($) Cr ($)

Land (Fair value) 52,000

Common stock (2,000 * 5) 10,000

Paid in capital in excess of per value 42,000

(To record common stock issued for land at a premium.)

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2 years ago