A computer retailer can purchase a discontinued notebook PC for $800 and wants to obtain a 25% markup on retail. What price should be charged: a. $800, b. $969, c. $1,000, d. $1,067 What is net profit?a. Gross sales minus net sales b. Before-tax dollars c. A measure of the overall performance of the firm d. A measurement of the liquidity of the firm

Answers

Answer 1

A computer reseller who wants to get a 25% markup at retail can buy a retired notebook PC for $800. It should be charged $1,067 for the retail price.

The net profit Gross sales minus net sales.

What is the net sales formula?

The net sales formula is rather simple in profit and sales transactions: net sales = gross sales - (return values + discount losses + sales taxes + allowances).

Is net profit the same as sales minus gross profit?

Net income is calculated as gross profit less all other costs, expenses, and sources of income and revenue that are not included in gross profit. In order to calculate net income, expenses such as debt interest, taxes, and operating or overhead costs are deducted from gross profit.

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Related Questions

who join the NDS that will create in the future


and please don't let's people answer and it a question if you thick about

i will still give Brainliset

Answers

The President's National Security Strategy is the subject of the National Defense Strategy (NDS), which focuses on the Department of Defense's role in carrying it out (NSS).

Who meets the criteria for an NDA?

Candidates who have finished class 12 or are currently registered in class 12 and are between the ages of 15.7 and 19 are eligible to apply for the NDA 2023 exam.

According to NDA eligibility 2022, candidates who were not born earlier than 02 January 2004 or later than 01 January 2007 are eligible to apply for the exam. Before proceeding to the exam selection procedure, candidates must first satisfy all of the required NDA qualification standards.

Who oversees NDS-OM?

RBI uses the NDS-OM, an electronic anonymous order matching system with a screen-based interface, to trade its government securities on the secondary market. The system is now open to businesses who have SGL accounts with the RBI, including banks, primary dealers, insurance providers, mutual funds, etc.

What types of settlements does NDS handle?

One of two groups makes up NDS-OM members, including:

Members Direct - Direct Members have access to current accounts with the RBI and the ability to directly settle trades on NDS-OM. Due to the fact that indirect members do not have current accounts with the RBI, they must settle through direct NDS-OM members.

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Suppose Ralph and Ed have the only store that sells toilet bowls in northern Maine. Their nearest competitor is 211 miles away, and these two men have a reputation for producing high-quality toilet bowls. Graphically illustrate what the market for toilet bowls will look like for Ralph and Ed. Shade in the area of profit for Ralph and Ed and label the profit maximizing price (Pe) and quantity (Qe).
Then, suppose a new federal law is passed that forces all toilet bowl manufacturers to install devices that reduce the amount of water used per flush. Using a second graph, illustrate and explain what impact this new law will have on Ralph and Ed. Shade in the new area of profit for Ralph and Ed and label the profit maximizing price (P1) and quantity (Q1). Make sure to show the old profit maximizing price (Pe) and quantity (Qe) as well.
Explain how the market changed as a result of the new regulation.

Answers

First graph:

The market for toilet bowls in northern Maine will be a monopoly market with Ralph and Ed as the only producers. They will set the profit maximizing price and quantity where their marginal cost equals the marginal revenue, and the shaded area will represent their profit.

Second graph:

The new federal law that forces all toilet bowl manufacturers to install devices that reduce the amount of water used per flush will increase the marginal cost of production for Ralph and Ed, shifting their marginal cost curve upward.

This will result in a new profit maximizing price and quantity, represented by P1 and Q1, respectively. The shaded area will represent their new profit. The old profit maximizing price and quantity, Pe and Qe, will be no longer optimal as they can't achieve the same level of profit.

The market has changed due to the new regulation because the law has increased the production cost for Ralph and Ed. They will need to charge a higher price to achieve the same level of profit, which can result in lower demand.

The higher price may cause some consumers to switch to the nearest competitor, even though it is located 211 miles away. The regulation has decreased the market efficiency by decreasing consumer surplus and creating deadweight loss.

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Initially, the exchange rate between Lebanon and Mexico is in equilibrium. Now, assume that there is a decrease in demand for Mexican pesos.
As a result of this change, what will happen to Mexican pesos?
an appreciation
a depreciation
no change
Furthermore, a decrease in demand for Mexican pesos also results in winners and losers for various groups that are affected by the foreign exchange market. For the group in each example, indicate whether it is a winner or a loser in this change.
____ a tourist from Lebanon going on vacation to Mexico.
____ a mutual fund in Lebanon that purchases bonds in Mexico.
____ a family from Mexico visiting relatives in Lebanon.
____ a small firm in Mexico that sells DoDads in Lebanon.
____ a large firm in Lebanon selling chemicals in Mexico.
____ a multinational based in Mexico purchasing land in Lebanon.

Answers

As a result of the decrease in demand for Mexican pesos, the Mexican pesos will depreciate.

When there is a decrease in demand for a currency, its value tends to decrease, resulting in depreciation. In this case, since the demand for Mexican pesos has decreased, the value of the pesos will decline in relation to other currencies, such as the Lebanese pound.

Now, let's analyze the winners and losers in each example:

A tourist from Lebanon going on vacation to Mexico: Winner

A decrease in the demand for Mexican pesos means the Lebanese pound can buy more pesos. Therefore, a Lebanese tourist going to Mexico will benefit from the depreciation of the Mexican peso, as they will get more pesos for their Lebanese pounds.

A mutual fund in Lebanon that purchases bonds in Mexico: Loser

If the mutual fund in Lebanon purchases bonds denominated in Mexican pesos, the decrease in demand for pesos will result in a depreciation. Consequently, the value of the bonds in terms of Lebanese pounds will decrease, making the mutual fund a loser in this scenario.

A family from Mexico visiting relatives in Lebanon: Loser

With the depreciation of the Mexican peso, the value of the peso decreases relative to the Lebanese pound. Therefore, the family from Mexico will need to spend more pesos to get the same amount of Lebanese pounds, making them a loser in this situation.

A small firm in Mexico that sells DoDads in Lebanon: Winner

The small firm in Mexico will benefit from the depreciation of the Mexican peso. As the peso weakens, the firm's exports to Lebanon will become more affordable and competitive, potentially increasing demand for their products and making them a winner.

A large firm in Lebanon selling chemicals in Mexico: Loser

The large firm in Lebanon will face a disadvantage due to the depreciation of the Mexican peso. The weaker peso means that the firm will receive fewer pesos for the same amount of Lebanese pounds when selling their chemicals, potentially reducing their profitability.

A multinational based in Mexico purchasing land in Lebanon: Winner

The multinational based in Mexico will benefit from the depreciation of the Mexican peso when purchasing land in Lebanon. They will require fewer pesos to buy the same amount of land in Lebanese pounds, making them a winner in this case.

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What is giving stadium shows increased competition?


a) TV
b) Arenas
c) Clubs
d) None of the above

Answers

Stadium shows increased competition is giving the Arenas.

What is stadium shows?

Stadium shows or Events include athletic events, concerts, and other related forms of stadium functions for which tickets will be made accessible to the general public.

These shows Excluded the Events and Team Games. Increased competition is providing the Arenas a boost.

Therefore, option b is correct.

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The Luminarium Corporation has a market capitalization of $100,000,000, and each share is worth $100. How many outstanding shares of Luminarium Corporation are there

Answers

The number of outstanding shares of Luminarium Corporation in the market share is 1,000,000 shares.

What is an outstanding shares?

An outstanding shares refers to the number of a firm's shares that is traded on the secondary market.

Outstanding shares = $100,000,000/$100 per share

Outstanding shares = 1,000,000 shares

In conclusion, the number of outstanding shares of Luminarium Corporation in the market share is 1,000,000 shares.

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Which Important personal quality does Jane seem to possess?
Jane is friendly and kind toward her coworkers. She makes interesting conversation with them during lunch. Her attitude helps to maintain a
harmonious atmosphere at work. Jane thus possesses an important personal quality known as

Answers

Answer:

kindness

Explanation: sorry im guessing by what the paragraph tells me..

Answer:

courteousness

Explanation:

These are all attributes of a courteous individual.

Q1: In terms of key issues in marketing and online privacy for consumers, creation of data images that characterize online individual and group behaviour is considered as:

Profiling and advertising networks

Social networking

Mobile phone privacy

Digital assistant privacy

Q2: In terms of Intellectual Property, what is considered as "Protects original forms of expression (not ideas) from being copied by others for a period of time"?

Patent

Trademark Law

Trade Secrets Law

Copyright


Q3: What is considered as "all tangible and intangible products of human mind"?

Privacy

Intellectual Property

Net Neutrality

Ethics

Answers

Q1: In terms of key issues in marketing and online privacy for consumers, the creation of data images that characterize online individual and group behavior is considered as profiling and advertising networks, Q2:  copyright, Q3: intellectual property.

Q1:Profiling refers to the process of collecting and analyzing data to create profiles or representations of individuals or groups based on their online behavior. Advertising networks use these profiles to target ads and personalize content based on users' interests and preferences. This practice raises concerns about privacy and the potential for data misuse.

Q2: In terms of Intellectual Property, "protects original forms of expression (not ideas) from being copied by others for a period of time" is copyright. Copyright is a legal protection that grants exclusive rights to the creators of original works such as books, music, art, and software. It ensures that others cannot copy, distribute, or use these works without permission from the copyright holder.

Q3: "All tangible and intangible products of the human mind" are considered intellectual property. Intellectual property refers to creations of the mind, including inventions, designs, symbols, names, and artistic works. It encompasses a wide range of intangible assets, such as patents, trademarks, copyrights, and trade secrets.

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3rd question is: what is marilyns net annual salary

3rd question is: what is marilyns net annual salary

Answers

Answer:

1. Net monthly pay = $ 3274. 27

2. Net Annual Salary = $ 39291.4

Explanation:

The total deductions from the salary  

$ 79.20 + $ 343.21 + $ 528.01 + $ 290.41 + $ 245 + $ 520 =  2005.83

Monthly Net Pay = Gross pay – Deductions  = 5280.10 – 2005.83 = $ 3274. 27

Net Annual Salary = Net Monthly Pay * 12 = $ 39291.4

1. Net monthly pay = $ 3274. 27

2. Net Annual Salary = $ 39291.4

Which best describes the types of indicators that the HDI measures?
O economic and industrial indicators
O infrastructure and social indicators
O social and economic indicators
O stability and social indicators

Answers

Answer:

O social and economic indicators

Explanation:

The Human Development Index (HDI) is a statistic used to measure a country's achievements in different aspects of its social and economic welfare. The united nations developed HDI to evaluate different dimensions of human development in a country. Dimensions of human development refer to people's health, educational level, and standards of living.

The HDI  makes comparisons between countries by analyzing components such as average annual income and educational achievements.

Social and economic indicators is best describes the types of indicators that the HDI measures. The HDI analyzes factors such as average annual income and educational achievements to directly compare between countries.

What is HDI ?

The Human Development Index is a metric that assesses a country's progress in various areas of social and economic development.

HDI was created by the United Nations to assess many aspects of a country's human development. Human development dimensions include people's health, educational attainment, and living conditions.

Thus, option C is correct.

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On keep the yuan-u. s. dollar exchange rate constant?

Answers

To keep the yuan-U.S. dollar exchange rate constant, several factors come into play. Here are some steps that can be taken:

1. Monetary Policy:

The central banks of both countries can adjust their interest rates and money supply to influence the exchange rate.

For example, if the yuan is appreciating too quickly against the dollar, the People's Bank of China (PBOC) can reduce the money supply or increase interest rates to decrease demand for the yuan, thereby stabilizing the exchange rate.

2. Intervention in the Forex Market:

The central bank can directly intervene in the foreign exchange market by buying or selling currencies.

If the yuan is strengthening too much, the PBOC can sell yuan and buy dollars to increase the supply of yuan in the market and decrease its value relative to the dollar.

3. Capital Controls:

The government can implement capital controls to restrict the flow of funds in and out of the country.

This can help stabilize the exchange rate by reducing speculation and volatility in the currency market.

4. Trade Policies:

Trade policies can also impact the exchange rate.

For instance, if the U.S. imposes tariffs on Chinese goods, it can affect the demand for yuan and impact the exchange rate.

By maintaining favorable trade policies, both countries can help stabilize the exchange rate.

5. Economic Stability:

Maintaining economic stability, low inflation, and strong economic fundamentals can attract foreign investors and contribute to a stable exchange rate.

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Sold goods whose list price is 5000 to rakesh at 6% trade discount and 1% cash discount he paid 60% price in cash jornal entry

Answers

The journal entry will be:

Debit: Accounts Receivable 2766

Credit: Sales 5000

Debit: Discounts Allowed 317

Credit: Trade Discount Allowed 300

Credit: Cash Discount Allowed 17

How to depict the journal entry?

To record the sale of goods to Rakesh at a trade discount and cash discount, you would make a journal entry to debit Accounts Receivable (for the amount Rakesh will pay on credit) and credit Sales (for the revenue from the sale). The entry would also need to include any applicable discounts.

The trade discount is calculated by multiplying the list price of the goods by the trade discount percentage (6% in this case), so the trade discount would be:

5000 x 6% = 300

The cash discount is calculated by multiplying the list price minus the trade discount by the cash discount percentage (1% in this case), so the cash discount would be:

(5000 - 300) x 1% = 17

The total discounts is trade discount + cash discount

300 + 17 = 317

The amount Rakesh paid in cash would be calculated by multiplying the list price minus the discounts by the percentage he paid in cash (60% in this case), so:

(5000 - 317) x 60% = 2766

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Nora has heard that opening a lot of credit card accounts is a good way to build credit. she currently has five credit
cards, but is sometimes forgetful in paying her bills on time and usually has a balance on each card. her favorite store
is offering a $50 coupon on her next purchase, with the promise of more coupons in the future, if she opens a credit
card. she decides to open the store credit card to get the discounts.
is this a good or bad debt move? why?

Answers

Opening multiple credit card accounts can potentially be a good way to build credit, as long as the accounts are managed responsibly. However, Nora's situation is a bit concerning. She is forgetful in paying her bills on time and usually has a balance on each card. This means she is likely accruing interest charges, which can quickly add up and damage her credit score.


Additionally, opening another credit card account just to get a discount coupon is not a wise financial decision. It may provide immediate savings, but if Nora continues to accumulate debt and miss payments, it could end up costing her more in the long run. In general, it is recommended to only open new credit accounts when necessary and to always make payments on time and in full to avoid interest charges and potential damage to your credit score. Instead of relying on discounts and rewards, focus on building a strong credit history through responsible credit use.
Nora's decision to open a store credit card for the discounts is a bad debt move. Although having multiple credit card accounts can contribute to building credit, it is important to manage them responsibly. Nora's forgetfulness in paying bills on time and maintaining a balance on each card can negatively impact her credit score, as timely payments and credit utilization are major factors in determining creditworthiness. Adding another credit card to her existing five may increase the risk of missing payments, further damaging her credit score. Additionally, store credit cards often have higher interest rates, which can lead to increased debt if not paid off promptly. Instead of opening more credit card accounts, Nora should focus on managing her current credit cards, paying bills on time, and reducing balances to improve her credit score.

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Indicate whether each of the following accounts would be reported on the balance sheet or income statement of Home Repair Company. Further, if the account is reported on the balance sheet, indicate whether it would be classified with current assets, noncurrent assets, current liabilities, noncurrent liabilities, or stockholders' equity. If the account is reported on the income statement, indicate whether it would be classified as revenue or expense. Finally, for each account, indicate whether the company's accounting records would normally show a debit or credit balance.


Accounts: Financial Statement Classification Normal Debit or Credit


Interest Expense

Prepaid Rent

Amortization Expense

Unearned Revenue

Retained Earnings

Accumulated Depreciation

Answers

The accounts provided will be categorized and classified based on whether they are reported on the balance sheet or income statement of Home Repair Company.

Additionally, the classification within the balance sheet as current assets, noncurrent assets, current liabilities, noncurrent liabilities, or stockholders' equity will be indicated. Finally, the normal debit or credit balance for each account will be determined.

1. Interest Expense: This account is reported on the income statement as an expense. It will have a normal debit balance.

2. Prepaid Rent: This account is reported on the balance sheet as a current asset since it represents a payment made in advance for future rent. It will have a normal debit balance.

3. Amortization Expense: This account is reported on the income statement as an expense. It will have a normal debit balance.

4. Unearned Revenue: This account is reported on the balance sheet as a current liability since it represents revenue received in advance. It will have a normal credit balance.

5. Retained Earnings: This account is reported on the balance sheet as part of stockholders' equity. It represents the accumulated profits of the company and will have a normal credit balance.

6. Accumulated Depreciation: This account is reported on the balance sheet as a contra-asset account, specifically under noncurrent assets. It represents the accumulated depreciation of the company's fixed assets and will have a normal credit balance.

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Globalization includes all of the following except
O an integrated global economy
O free flow of capital
O free trade
O limits on global expansion

Answers

Answer:

d. limits on global expansion

Explanation:

;p

Answer:

limits on global expansion

Explanation:

got it right on edge 2023 business law!!

Management, being representative of all the owners, is in the agency position of making decisions that are in the best interest of the firm's:

Answers

Answer:

shareholders

Explanation:

which republicans voted for debt ceiling

Answers

Answer:

   John Barrasso of Wyoming, Roy Blunt of Missouri, Susan Collins of Maine, John Cornyn of Texas, Mitch McConnell of Kentucky, Shelley Moore Capito of West Virginia, Lisa Murkowski of Alaska, Rob Portman of Ohio, Mike Rounds of South Dakota, Richard Shelby of Alabama, and John Thune of South Dakota.

it's not unusual to see a segmentation study comprised of some usage variable (e.g., heavy vs. light users) or some attitudinal variable (e.g., positively inclined toward our brand vs. loyal to a competitor). what type of variable is it usually cross-tabbed with?

Answers

It is not uncommon to see a segmentation study consisting of some usage variable or some attitudinal variable. It is usually cross-tabbed with a demographic variable.

Market segmentation is the process of breaking a large consumer or company market, often consisting of present and future customers, into sub-groups of consumers (known as segments) based on some form of shared trait. When separating or segmenting markets, researchers often look for similar traits. Market segmentation assumes that distinct market segments necessitate different marketing programs, such as different products, prices, promotion, distribution, or some combination of marketing elements.

Market segmentation is intended not only to identify the most profitable categories, but also to create profiles of key segments in order to better understand their demands and buying motivations. Insights from segmentation analysis are then utilized to support marketing strategy creation and planning.

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crane corporation has collected the following data concerning one of its products: unit selling price $140 total sales 19950 units total unit cost $120 total assets investment $1995000 what is the return on investment (roi) percentage for crane corporation for its product? 14.3%

Answers

The crane corporation's return on investment (ROI) for its product is 16.67%.

Return on investment, also known as ROI, is a mathematical formula that investors can use to analyse their investments and estimate how well one investment has fared in comparison to others. Investors can use ROI to calculate their overall returns on their assets. When developing a business case for a particular proposition, it is common practice to combine several different methodologies, including a computation of return on investment (ROI). An enterprise's overall return on investment (ROI) can be used as a metric to evaluate how effectively a business is handled.

Return on investment (ROI) can be computed as (Net income ÷ Cost of investment) ×100

It is given that selling price per unit is $140 and cost price per unit is $120. Total number of units are 19950.

Thus, total sales = $140×19950 = $2793000

Total cost = $120 × 19950 = $2394000

Thus, net income = $2793000-$2394000 = $399000

It is given that cost of investment = $1995000

Thus, return on investment (ROI) = (Net income ÷ Cost of investment) ×100

= (399000 ÷ 1995000) ×100

= 16.67%

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The demographic information will tell you where to find the customers.

T
True
or
F
False

Answers

It should be F because the graphic information tells how many males and females there are so it doesn’t tell you where to find customers. It tell how many customers are there in percentages. If I’m wrong I am sorry

Which of the following are fundamental ethical principles for professional accountants?
1 Competence
2 Compliance
3 Integrity
4 Objectivity
A. 1, 2 and 3 only
B. 1, 3 and 4 only
C. 2, 3 and 4 only
D. 1, 2 and 4 only

Answers

The following are fundamental ethical principles for professional accountants 1, 2 and 3 only.

Which of the following ethical guidelines applies to accountants in general Macq?

Acting with integrity, objectivity, professional competence and due care, confidentiality, and professional behavior are the essential ethical norms that apply to all members of professional bodies. All members of the accounting profession are required to adhere to the basic ethical norms.

Which of the following is a professional accountant's ethical obligation?

Any bias, conflict of interest, or undue influence from others should not be allowed to trump professional or business judgments by a professional accountant.

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What is the act of gathering information relative to a company's action and the factors that affect the space in which the company operates?

Answers

The answer is Market Research .

After adjusting your seat, your _____ should be as close as possible to the backrest.
A. hands
B. arms
C. bottom
D. legs

Answers

Answer:

C. Bottom is the answer

Explanation:

My parents would always yell at me to scooch backwards in the car if I was leaning too far forward. I don't need to know how to drive to know this.

This is a question about driving right? Lol, cause if it's not, sorry.

Find the area of a rectangle with the length measuring 8 km and the width measuring 5 km.
A. 26 m2
B. 40 m2
C. 40 km2
D. 26 km2​

Answers

Answer:

The answer is C. 40 km^2

8km*5km = 40

A = L*W

L = 8 km

W = 5 km

can someone help . i know I'm dumb:) x-5=7​

Answers

Answer:

Hey Army

Nice to meet you:)

your answer is 12

as x-5=7

so x=7+5

x is 12

Stream life goes on and Dynamite. :)

Answer:

x=12

Explanation:

x-5=7

x-5+5=7+5

x=12

What is the main difference between a market demand curve and a market demand schedule?.

Answers

A demand schedule is a desk that suggests the quantity demanded at every charge. A call for curve is a graph that shows the quantity demanded at each charge. Every so often the call for curve is likewise called a call for agenda because it is a graphical illustration of the call for scheduls.

A demand schedule is a listing that indicates the quantity demanded in any respect viable fees that might prevail in the market at a given time, whereas a call for curve is a graph that shows the quantity demanded at every and every viable charge that would succeed in the marketplace at a given time.

The individual demand curve shows the small quantity of call for for a commodity however the market call for curve shows a large volume of quantity call for made by way of the complete client within the market.

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Araya has been tasked with implementing a new set of procedures for the onboarding and offboarding of employees. Which of the following types of controls does this new task fall into?
a. Administrative controls
b. Supervisory controls
c. Logical controls
d. Physical controls

Answers

The new task of implementing procedures for employee onboarding and offboarding falls under administrative controls.

Administrative controls are policies, procedures, and processes established by an organization to manage and govern its operations. They encompass the planning, organization, and coordination of activities to achieve specific objectives. The implementation of new procedures for employee onboarding and offboarding is a task that involves establishing and enforcing administrative controls.

This includes defining the steps and requirements for bringing new employees into the organization, as well as the processes for offboarding employees who are leaving. Administrative controls ensure that the onboarding and offboarding procedures are standardized, efficient, and compliant with relevant regulations and internal policies. They help maintain consistency, mitigate risks, and facilitate smooth transitions during these critical stages of the employment lifecycle.

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Estimate the unit profit in mining and processing a 1.2% Zinc deposit, if the selling price of Zinc concentrate is $5.15/kg and overall unit costs are $6.2/ton. Assume overall recovery is 76%. Also, calculate the cut-off grade of the Zinc deposit.

Answers

The minimal lead content in the ore below which mining and processing are not economically feasible may be described as the cut-off grade for the particular situation, meaning the total price of selling the lead recovered will be less than or equal to the entire cost of mining and processing. The cut-off grade is calculated as 0.18%.

The calculations are provided below:

The average grade of lead in ore = 1.4 %

Selling price of lead concentrate = $ 4.35 / kg

Overall unit cost = $ 6.5 / ton

Overall recovery = 83 %

Unit profit in mining & processing =?

A cut-off grade of lead =?

Unit profit

Suppose mining and processing of 1-ton ore

Quantity of lead in the ore = 1 ton *1.4 % = 14 kg

Total recovered quantity of lead = 14 *83% = 11.62 kg

Total mining and processing cost = 1 ton * $ 6.5 / ton = $6.5

Total selling price of lead recovered = 11.62 kg * $ 4.35 / kg = $50.547

Total Profit = Total price - Total cost

Total Profit = $50.547 - $6.5 = $44.047  per ton of ore

Unit profit = $ 44.047

Cut-off grade calculation

Let's do the calculation for 1 ton of ore and suppose the cut-off grade is x %

Total lead recovered = 1 ton * X% * 0.83 * 1000 kg

Total selling price = $8.3X kg * 4.35 = $36.105X

Total cost = $ 6.5

Equate both to get the cut-off grade

$36.105X = $6.5

X = 0.18 %.

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Flounder Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2020, the following balances related to this plan. Plan assets (market-related value) Projected benefit obligation Pension asset/liability Prior service cost Net gain or loss (debit) $565,000 656,000 91,000 86,000 92,000 Cr. As a result of the operation of the plan during 2020, the actuary provided the following additional data for 2020. Service cost $98,000 50,000 Settlement rate, 9%; expected return rate, 10% Actual return on plan assets Amortization of prior service cost Contributions Benefits paid retirees Average remaining service life of active employees 26,000 126,000 92,000 10 years Using the preceding data, compute pension expense for Flounder Corp. for the year 2020 by preparing a pension worksheet that shows the journal entry for pension expense. (Enter all amounts as positive.)

Answers

To compute the pension expense for Flounder Corp. for the year 2020, we can prepare a pension worksheet that shows the journal entry for pension expense. Here's the computation: Cr. $175,140

Determine the components of pension expense:

Service cost: $98,000

Interest cost: Beginning PBO x Settlement rate = $656,000 x 9% = $59,040

Expected return on plan assets: Beginning Plan Assets x Expected return rate = $565,000 x 10% = $56,500

Amortization of prior service cost: $86,000 / Average remaining service life = $86,000 / 10 = $8,600

Gain or loss: Net gain or loss - Actual return on plan assets = $92,000 - $26,000 = $66,000

Compute the total pension expense:

Total pension expense = Service cost + Interest cost - Expected return on plan assets + Amortization of prior service cost + Gain or loss

Total pension expense = $98,000 + $59,040 - $56,500 + $8,600 + $66,000 = $175,140

Prepare the journal entry for pension expense:

Pension Expense Dr. $175,140

Accumulated Other Comprehensive Income (OCI) - Pensions Cr. $175,140

Note: The journal entry reflects the recognition of the pension expense and the corresponding impact on the OCI.

Please note that this is a simplified calculation based on the provided data, and actual pension expense calculations may involve additional factors and complexities. It is recommended to consult with a qualified accountant or financial professional for accurate and comprehensive calculations.

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You are recognizing expenses for supplies used during a month. You started with $4,800 of supplies, debited the account $5,000 and now have a $2,100 balance. How much did you use?.

Answers

You started with $4,800 of supplies, debited the account $5,000 and now have a $2,100 balance. The amount of supplies you used is $7,700.

A debit is an accounting entry that either adds or decreases the value of an asset or expense account. In an accounting entry, it is to the left.

A credit is an accounting item that either adds or decreases the value of a liability or equity account. In an accounting entry, it is to the right.

In the given problem,    

Started supplies (debit) = $4,800

Direct debit                    = $5,000

Balance                         = $2,100

Hence, the amount of supplies used is:

$4,800 + $5,000 - $2,100 = $7,700

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Andrew earns $45,300 in taxable income annually, and pays federal income taxes of $5,345. 40. What is Andrew’s net federal income tax rate? a. 8. 47% b. 15. 1% c. 11. 8% d. 9. 1%.

Answers

Based on the information given Andrew’s net federal income tax rate is c. 11.8%.

Using this formula

Net federal income tax rate=Federal income taxes / Taxable income

Where:

Federal income taxes= $5,345.40

Taxable income=$45,300

Let plug in the formula

Net federal income tax rate=$5,345.40/$45,300

Net federal income tax rate=0.118×100

Net federal income tax rate=11.8%

Inconclusion Andrew’s net federal income tax rate is c. 11.8%.

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