We will use median to calculate various level of salaries of different employees.
Every individual has incomes and expenditures and some savings for the purpose of preparation of budget. Calculation of wealth can differ accordingly as wealth of the different employees would be different as per their earning.
There would be different employees in each company and taking out calculations on the basis of mean would not give any final result. Mode is the result of expected outcomes and will not give exact results. Hence, median would not be affected by small or large numbers so median would give exact results.
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Question Completion:
Describe the accounting treatment of Supplies Expenses.
Answer:
Supplies Expenses are debited while the Supplies account is credited with the supplies expenses.
Explanation:
This accounting treatment of Supplies Expenses reduces the balance of the Supplies account by the amount of supplies used during the period. Thus, what is left in the Supplies account is the cost of the unused supplies at the end of the accounting period. The treatment also accords with the accrual concept, which requires that expenses are matched to the revenues that they generate in the period.
Answer:
C) $0 $285,000
Explanation:
The §121 exclusion establishes that homeowners can exclude from their capital gains taxes the sale of their property for a maximum of $250,000 gain (or $500,000 for joint filers) if they meet two criteria:
- they owned the property for at last 5 years
- they use the property as main residence for at least 2 years (they can aggregate time periods).
So if Eric and Katie use the §121 exclusion they wouldn't pay any capital gains tax ($500,000 is higher than $375,000).
If they decide to forgo the §121 exclusion, then they will have to pay taxes for a gain of:
capital gain = net sale price - asst basis
capital gain = ($375,000 - $10,000) - $80,000 = $365,000 - $80,000 = $285,000
Net Profit Margin measures the percentage of sales revenue a firm is able to retain after all expenses are deducted from gross revenues.
What is Net Profit Margin?
A financial measure called net profit margin can be used to determine what much of a company's total revenue is profit. It gauges how much net profit a business makes for every dollar of revenue generated. The ratio of net profit to total sales, stated as a percentage, is known as the net profit margin.
Net profit is determined by subtracting all business costs from net income. A percentage is the outcome of the profit margin computation; for instance, a 10% profit margin indicates that for every $1 in revenue, the company makes $0.10 in net profit. Revenue represents the entire sales of the company in a period.
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