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2 years ago

7

3. Mr. and Mrs. Howard want to buy a home valued at $280,000. If they have 15% of this amount saved for a down payment, how much

have they saved?

1 answer:

s344n2d4d5 [400]2 years ago

4 0

Answer:

they have 42,000 saved I hope I'm right

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The following facts relate to Duncan Corporation.

lyudmila [28]

Answer:

Duncan Corporation

a. The amount of the accounting income for 2019 is:

= $270,000

b. Journal Entries:

Debit Income tax expense $46,000

Credit Income tax payable $46,000

To record the income tax expense for 2019.

Debit Deferred tax asset $30,000

Credit Profit and Loss $30,000

To record the deferred tax asset

Debit Profit and Loss $80,000

Credit Deferred tax liability $80,000

To record the deferred tax liability.

Explanation:

a) Data and Calculations:

Taxable income for 2019 = $115,000

add Cumulative temporary difference, giving

rise to future taxable amounts = $250,000

less Cumulative temporary difference, giving

rise to future deductible amounts = $95,000

Accounting income for 2019 $270,000

Income tax expense:

Taxable income = $115,000

Tax rate (40%) 46,000

After-tax income $69,000

6 0

3 years ago

Which of the following is NOT considered to be one of the three primary functions that all organizations perform? A. research a

ra1l [238]

Answer: The correct answer is "A. research and development".

Research and development are <u>NOT</u> considered as one of the three primary functions that all organizations perform.

Explanation: The basic operating cycle of a company is buy-sell-collect-pay. In some cases, companies can produce the good they sell or directly re-sell it. This implies production, operation and marketing activities to increase sales and for an adequate control of these you need accounting.

Only in particular cases do companies engage in research and development, but it is not something basic.

4 0

4 years ago

Karl runs a store that sells small and large space heaters. The large heaters sell for $250 each with unit variable costs of $12

umka2103 [35]

Answer: Karl must sell 1350 small heaters and 450 large heaters to break even.

We follow these steps to arrive at the answer:

No. Small Large Total

1 Selling Price per unit 80 250

2 Variable Cost per unit 30 120

3 Number of units sold 2100 700 2800

4 Sales mix 3 1

5 Total sales (1*3) 168000 175000

6 Total Variable Cost (2*3) 63000 84000

7 Contribution Margin (5-6) 105000 91000 196000

Next we compute the Weighted Average Contribution Margin as follows:

$\mathbf{WACM per unit = \frac{Total Contribution Margin}{Total number of units sold}}$

$\mathbf{WACM per unit= \frac{196000}{2800} = 70}$

Now, Break even point (BEP) is computed as

$\mathbf{BEP = \frac{Total Fixed Costs}{WACM per unit}}$

$\mathbf{BEP = \frac{126000}{70} = 1800 units}$

Since the large and small heaters are sold in the 3:1 ratio, we can find the number of large and small heaters to be sold in order to achieve the break even point at 1800 units.

$No. of small heaters = BEP * \frac{3}{4}$

$No. of small heaters = 1800 * \frac{3}{4} = 1350 units$

$No. of large heaters = BEP * \frac{1}{4}$

$No. of large heaters = 1800 * \frac{1}{4} = 450 units$

3 0

3 years ago

If interest rates increase due to inflation, but expected cash flows to a firm do not change, then you would expect stock prices

kati45 [8]

If interest rates increase due to inflation, but expected cash flows to a firm do not change, then you would expect stock prices to decline.

The current stock price is the present value of all future cash Inflows. So if the hobby fee will increase, then the discounting factor will grow, so the existing price of the destiny inflows will decrease, and the inventory charge will fall.

In economics, inflation is a popular increase in the expenses of products and services in an economic system. whilst the overall fee degree rises, each unit of foreign money buys fewer items and services; therefore, inflation corresponds to a reduction in the shopping power of money.

Higher interest costs imply better borrowing fees, human beings will sooner or later begin spending less. The call for goods and services will then drop, as a way to cause inflation to fall.

Learn more about inflation here brainly.com/question/8149429

#SPJ4

4 0

2 years ago

(b) Note that Schlicksup, before working at Caterpillar, was an accountant at Arthur Andersen (the auditing firm that was crimin

prohojiy [21]

Answer:

One behavioral bias that might explain why Schlicksup was prepared to take the risk of blowing the whistle in this case is Reducing Regrets.

Explanation:

The only sin of Schlicksup was that he "was an accountant at Arthur Andersen (he auditing firm that was criminally indicted in the Enron scandal and went out of business)." Self-convinced that he was going to get fired from Caterpillar, he then wanted to blow the whistle by 2008, which he should have done before being employed in Caterpillar, anyway. He is surely suffering from the bias of reducing his regrets. This makes him to be emotionally involved and to reach wrong conclusions that might not be based on facts. He did not even ask himself if he was involved directly in the Enron-Arthur Andersen scandal. Even if he was directly involved, has he not expressed remorse for his former actions to enable him to move on in life? Schlicksup is simply going to illogical lengths to avoid having to own the feeling of regret.

8 0

3 years ago