Answer:
(A) $1,000
Explanation:
Health Savings Account (HSA) is an account that offers tax advantages to those individuals who are covered under high deductible health plans(HDHPs).
Both Employers and Employees make contributions to such an account.
Under the laws, the maximum contribution allowable is $3400 by both employers and employees.
Such contributions can be used for qualified medical expenses.
Individuals who are above 55 years of age can contribute an additional $1000 per person per year as per the law which can be of much help to early retirees.
Hence, Ruth is allowed to make an additional contribution of $1,000.
Answer and Explanation:
The computation of the amount and character of his recognized gain or loss is as follows:
There is a gain of
= $1,300 - $1,000
= $300
This gain represents the long term capital gain as it is more than 12 months. If there is a gain that within the 12 months so it would be the short term capital gain
So, the amount and character would be $300 and long term capital gain
The answers are the following; assortment warehouse and spot
stock warehouses.
It is because the assortment warehouse the capability of
carrying goods in a long period of time while the spot stock warehouses only
has seasonal goods that are placed or focused on.
Answer:
LIFO ending inventory $ 544.00
Weighted average: $ 565.44
FIFO ending invetory: $ 590.00
Explanation:
weighted-average:
1,449 / 41 = 35,34
Ending Inventory
16 x 35.34
LIFo we pick the first 16 units as the latest were sold:
8 units at $ 33 = $ 264
8 units at $ 35 = $ 280
Total ending inventory $ 544
FIFo we pick the last as the first one are the first being sold
15 units at 37 = 555
1 unit at 35 = 35
total ending 590
Answer:
$15000.
Explanation:
Given: Sales $90,000
Less Variable Exp (54,000)
Contribution margin 36,000
Less Fixed Exp (24,000)
Operating Profit $12,000
As sales decreases by 10%.
∴ Sales=
Sales=
Solving and opening the parenthesis.
Sales=
Sales= $81000.
Now, computing to get fixed expense at which operating profit will remain same.
Contribution margin= sales- variable expense
⇒ Contribution margin=
Fixed expense= Contribution margin - operating profit
∴ Fixed expense will $ 15000 at which operating profit will remain same.