Can I get a free account

Jim and Carolyn, who are married, establish a Coverdell Education Savings Account to pay for the future college expenses of thei

nasty-shy [4]

Answer:

$2000

Explanation:

CESA is a tax deferred account founded by the USA government to support educational expenses for children that are not more than 18 years of age .

CESA , an acronym for coverdell education savings accounts allows a couple who filed jointly with a modified adjusted income that is not more than $220,000 to contribute not more than $2000 per student for each year.

The contribution is tax free assuming it is less than the account holder's annual adjusted qualifies expenses

5 0

3 years ago

barga company's net sales for year 1 and year 2 are $730,000 and $1,095,000, respectively. its year-end balances of accounts rec

BartSMP [9]

Year 1 = 35.23 days

Year 2 = 44.64 days

<h3>What are net sales?</h3>

Net sales are calculated by deducting appropriate sales returns, allowances, and discounts from gross revenue.
Net sales costs have an impact on a company's gross profit and gross profit margin, but net sales exclude the cost of goods sold, which is typically a key driver of gross profit margins.
Net sales are operating revenues obtained by a corporation for selling its products or performing its services in bookkeeping, accounting, and financial accounting.
They are recorded directly on the income statement as Sales or Net sales and are also known as revenue.

So, Days' Sales Uncollected = Accounts receivable / Net Sales * Days

Year 1 = $64,000 / $663,000 * 365 days = 35.23 days

Year 2 = $91,000 / $744,000 * 365 days = 44.64 days

Therefore,

Year 1 = 35.23 days

Year 2 = 44.64 days

Know more about net sales here:

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The question you are looking for is here:

Barga Co.'s net sales for Year 1 and Year 2 are $663,000 and $744,000, respectively. Its year-end balances of accounts receivable follow Year 1, $64,000; and Year 2, $91,000. Complete the below table to calculate the days' sales uncollected at the end of each year.

Days' Sales Uncollected

Choose Denominator: / Choose Numerator: * Days = Days' Sales Uncollected

Year 1: days

Year 2: days

5 0

2 years ago

Explain how the costs of poor quality can affect competitiveness.

Soloha48 [4]

The competitiveness of a good usually depends on two key factors: its price, and its quality. While poor quality goods are less competitive from a quality perspective but poor quality goods are usually cheaper to produce resulting to a lower final price. So overall, the lower the cost and the higher the quality the more competitive a good is.

8 0

4 years ago

Which of the following statements is true regarding variable costing?Multiple Choice

pentagon [3]

Answer:

a

Explanation:

8 0

3 years ago

Read 2 more answers

Analysis reveals that a company had a net increase in cash of $22,750 for the current year. Net cash provided by operating activ

aalyn [17]

Answer:

The correct answer = $5,000

Explanation:

First of all, let us find the difference between the total cash provided and the total cash used up within the period:

Total cash provided = operating activities + financing activities

Total cash provided = 20,500 + 13,500 = $34,000

Total cash used up = investing activities = $11,250

Retained balance from the activities of the period = Total cash provided - Total cash used up

= 34,000 - 11,250 = $22,750

Retained balance from the activities of the period = $22,750

However, we are told that the year-end cash balance = $27,750. This means that the excess cash on the retained balance from operating activities within the period is from the beginning cash balance, and this is calculated as follows:

year-end cash balance = Retained balance from the activities + beginning cash balance

27,750 = 22,750 + beginning cash balance

∴ beginning cash balance = 27,750 - 22,750 = $5,000

∴ beginning cash balance = $5,000

5 0

3 years ago