Answers
There is significant disparity between the racial demographics of executives and the general population in the United States.
What are executives?Executives are high-level managers who are responsible for overseeing the strategic direction and overall operation of a company or organization. They typically hold the highest positions within a company, such as CEO, COO, CFO, or CIO, and are accountable for the success or failure of the organization. Executives develop and implement business plans, set goals and objectives, allocate resources, manage budgets, and make key decisions related to the company's future. They also represent the company to stakeholders such as investors, customers, and employees, and are often involved in negotiating deals and partnerships. In addition to possessing strong leadership and management skills, executives must have a deep understanding of their industry and market trends, as well as the ability to adapt to changing circumstances and make tough decisions under pressure.
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Related Questions
QS 4-10 Identifying post-closing accounts P2
For each account, identify whether it is included or excluded from a post-closing trial balance.
a. Accounts Receivable
b. Salaries Expense
c. Cash
d. Land
e. Income Tax Expense
f. Salaries Payable
Answers
Income Tax Expense isn't always covered and all of the others are covered in a remaining trial stability.
The required details for closing trial balance in given paragraph
A post-remaining trial stability is a list of all stability sheet accounts containing non-0 balances on the quit of a reporting period. The post-remaining trial stability is used to affirm that the entire of all debit balances equals the entire of all credit score balances, which ought to internet to 0. The post-remaining trial stability includes no revenue, expense, gain, loss, or precis account balances, in view that these brief accounts have already been closed and their balances moved into the retained earnings account as a part of the remaining process. Once the accountant has ensured that the entire of all debits and credit within side the document are the identical number, the following step is to set a flag to save you extra transactions from being recorded within side the antique accounting period, and start recording accounting transactions for the following accounting period.
This is one of the ultimate steps within side the period-quit remaining process.
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If the economy starts at O, a decrease in the money supply moves the economy Group of answer choices
Answers
Answer: c. to Q in the long run.
Explanation:
A decrease in money supply will mean a decrease in the amount that households have for consumption. This will decrease Aggregate demand and force it to the left where it will then intersect with the SRAS at point R.
This will mean that the economy is in a recessionary gap as they are producing less than they can.
In the long run, the reduced economic activity will mean that some costs of factors of production like wages will be lower so more companies will hire labor and produce more which will increase the production in the economy.
This will move the SRAS curve to the right where it will intersect with the AD curve and the LRAS curve at point Q.
An example of an investing activity on a statement of cash flows is:
Multiple Choice
Paying wages of employees.
Withdrawals by the owner
Purchase of land.
Selling inventory.
Contribution from owner.
Answers
An example of an investing activity on a statement of cash flows is Purchase of land.
Which of the following actions falls under the category of investing?Long-term investments, long-term purchases, taking notes payable, lending loans, and a select few other investments aside from cash and cash equivalents are all included in investing operations.
What exactly is a financial activity?In accounting, the term "investing activities" refers to the acquisition and disposal of long-term assets as well as other corporate investments over a certain reporting period. The reported investing activities of a company provide information on the total investment gains and losses it incurred over a specific time period.
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When an individual starts a new business there are
Answers
Answer: When an individual starts a new business there are risks and costs.
Explanation:
What basic economic question is addressed in the press release?
Answers
Answer:
for whom to produce
Explanation:
for whom to produce
If the reserve requirement is 20% and commercial bankers decide to hold additional excess reserves equal to 5% of any newly acquired checkable deposits, then the effective monetary multiplier for the banking system will be
Answers
Answer: 4
Explanation:
Based on the information provided in the question, the effective monetary multiplier for the banking system will be calculated as:
= 1/Reserve ratio
= 1 / (20 + 5%)
=1/(0.20+0.05)
= 1/0.25
= 4
Therefore, the effective monetary multiplier for the banking system is 4.
1. When talking about personal finances, always remember that you will either manage
your money or the lack of it will
Answers
It is correct to say that when talking about personal finance, always remember that you will manage your money or the lack of it, this being an essential topic for better control of your expenses and income.
How to increase control over your income and expenses?You can develop a personal budget, which is a simple and easy-to-do technique, where all your personal accounts for a period are exposed, whose objective is to increase understanding about your finances, your needs and allocation of resources for your goals.
Therefore, financial education is a topic that should be more instituted in schools and social institutions, to provide greater subsidies for individuals to understand how to balance their finances to increase their quality of life and avoid indebtedness.
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What is TRUE about credit unions?
OA. They are not insured by the government.
OB.
OO
C.
D.
They do not have any govemment regulations.
They only offer savings accounts.
They are owned by members.
Answers
The true about credit unions is they are owned by members. Credit unions are non profit organizations. The correct option (D).
What do you mean by the credit unions?A particular kind of financial cooperative that offers conventional banking services is a credit union.
Credit unions can be established by major firms, organizations, and other entities for their employees and members. They can range in size from small, volunteer-only operations to large organisations with thousands of participants across the country.
The fact that credit unions have significantly fewer physical facilities than the majority of banks can be a disadvantage for customers who prefer in-person assistance.
The earnings of credit unions are not subject to corporate income tax.
Therefore, the true about credit unions is they are owned by members. Credit unions are non profit organizations.
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A guest arriving at a restaurant bows to the host instead of extending a hand. This is an example of how cultural customs and taboos can affect
A.a sense of humor
B.dietary preferences
C.greetings between people
D.preferences for amenities
Answers
This is an illustration of how 's sense of humor can be impacted by cultural taboos and norms. dietary inclinations.
Who defines culture?Language, values, conventions, behaviors, and even material possessions are all considered to be part of a culture. Culture is universal; while its specifics may vary from group to group, all civilizations create standardized, taught ways of understanding and engaging with their environment. A moral imperative that establishes what we believe to be good and wrong and implicit instructions that teach us what we should do are both provided by culture. Material culture and nonmaterial culture are two subcategories of culture. The tools and technology created by members of society are referred to as material culture.and employ. This encompasses all creations manufactured by humans, such as works of art, structures, tools, jewelry, clothing, and hairstyles. The methods of thinking (beliefs, values, and other worldviews) and behavioral patterns of a group are included in nonmaterial culture (language, gestures, and other forms of social interaction).
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1. True or False? Current ratio is sometimes referred to as the liquidity ratio s pointe
and calculated by dividing current assets by current liabilities,
True
False
Answers
Answer:
I think it's true
Explanation:
I hope this can help
Nathen’s home office
Answers
Answer:
Today, the Chinese own Armour and the famous Smithfield hams, together with the most quintessential American brand of all: Nathan's Famous hot dogs, with its iconic annual eating contest. ... It remains the largest total acquisition of a U.S. company by the Chinese.
Explanation:
1. Ryan can show Delia homes listed with XYZ Realty and other brokers in the market if:
(a) None of the homes are owned by Agent Ryan
(b) Ryan discloses to Broker Bradley that he will show homes listed by XYZ Realty
(c) Delia gives verbal consent to see homes listed by XYZ Realty
(d) Delia has given written Intermediary consent
Answers
Ryan can show Delia homes listed with XYZ Realty and other brokers in the market if:
Delia has given written Intermediary consent Delia gives verbal consent to see homes listed by XYZ Realty None of the homes are owned by Agent RyanWhen can homes be shown in the marketDelia gives verbal consent to see homes listed by XYZ Realty: This condition highlights the significance of Delia's consent. If Delia explicitly gives verbal consent to Ryan, it signifies that she is comfortable with viewing homes listed by XYZ Realty. Delia's consent is crucial in allowing Ryan to proceed with showing homes from XYZ Realty.
(d) Delia has given written Intermediary consent: This condition specifically refers to written consent in the form of an intermediary agreement. In some cases, Delia may choose to engage Ryan as an intermediary, authorizing him to show homes listed by multiple brokers, including XYZ Realty.
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0
Question 1
What is the most important question you should have after seeing this ad about a check cashing business?
Why Choose ACE to Cash Your Check
The approval process is easy Get your funds without the hassle
No credit check necessary
No waiting Get your funds today
Close, convenient parking
Great customer service
O How many locations do you have?
O Can I get a written copy of all of the fees that you charge for your services?
O What are your hours of operation?
O How many tellers do you have?
Answers
The most important question you should have after seeing this ad about a check cashing business is"
Why Choose ACE to Cash Your Check?No credit check necessary?Can I get a written copy of all of the fees that you charge for your services?Is a check cashing business considered a financial institution?A money service business is one that is seen as a kind of a financial institution that is known to be involved with one or a lot of of the following entities such as:
Check casher Foreign currency dealer, etc.So, the most important question you should have after seeing this ad about a check cashing business is"
Why Choose ACE to Cash Your Check?No credit check necessary?Can I get a written copy of all of the fees that you charge for your services?Learn more about check cashing business from
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Suppose you trade dollars and euros for a bank that has branches in New York and Rome. You can electronically transfer the funds between the two branch locations at no cost, and trading commissions are negligible. The current dollar-per-euro exchange rate in New York is E$/EUR^NY = 1.5695, while in Frankfurt, it is E$/EUR^FR = 1.627.
You can make a profit for the bank if you buy euros in___and sell them in____.
Other foreign exchange traders will buy euros in___and sell them in___. They will also buy dollars in___and sell them in___. As a result, the dollar-per-euro exchange rate in Frankfurt (E$/EUR^FR) will___, and the dollar-per-euro exchange rate in New York (E$/EUR^NY) will___.
Answers
Answer:
a) Buy in Frankfurt sell in New york
b) Buy in Frankfurt and sell in New York
c) Buy in New York and sell in Frankfurt
d) Fall and Rise
Explanation:
Exchange rate in New York ; E$/EUR^NY = 1.5695. i.e. $1 can be exchanged for 1.5695 euro
Exchange rate in Frankfurt : E$/EUR^FR = 1.627 i.e. $1 can be exchanged for 1.627 euros
a) To make profit
Buy euros in Frankfurt and sell them in New York
b) Other Foreign exchange traders will buy Euros in Frankfurt and sell in New York as well to make gain
c) They will also buy $ in New York and sell them in Frankfurt
d) The Dollar per Euro exchange rate in Frankfurt will Fall and the dollar euro rate in New York will Rise
This is due to the law of demand and supply
Paul’s grocery received 1,000 pounds of onion at $0.11 per pound. On the average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a makeup rate of 180% based on cost.
Answers
The selling price per pound for onions to obtain a makeup rate of 180% based on cost is $2.0350.
What is the selling price per pound for onions?Total Cost = Quantity * Cost per pound
Total Cost = 1,000 pounds * $0.11/pound
Total Cost = $110
Spoilage Quantity = 3% of Quantity
Spoilage Quantity = 3% of 1,000 pounds
Spoilage Quantity = 0.03 * 1,000 pounds
Spoilage Quantity = 30 pounds
Effective Quantity = Quantity - Spoilage Quantity
Effective Quantity = 1,000 pounds - 30 pounds
Effective Quantity = 970 pounds
Makeup Rate = 180%
Selling Price per pound:
= (Total Cost * Makeup Rate) / Effective Quantity
= ($110 * 1.80) / 970 pounds
= $2.03505/pound.
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Stam Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 33,600 $ 41,900 Direct labor (in March) 24,600 20,300 Applied overhead (March) 12,300 10,150 Costs during April Direct materials 139,600 226,900 $ 102,300 Direct labor 94,200 161,500 107,300 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $91,500. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April.
Answers
Based on the cost of production by Stam Company, the overhead rate which is applied to the jobs are:
Data and Calculations:
Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $33,600 $41,900
Direct labor used (in March) $24,600 $20,300
Overhead applied (March) $12,300 $10,150
Costs during April
Direct materials used $139,000 $226,900 $102,000
Direct labor used $94,200 $161,500 $107,300
Overhead applied $55,600 $77,500 $52,500
($94,200 × 50%) ($161,500 × 50%) ($107,300 × 50%)
Job 306 - $47,100
Job 307 - $80,750
Job 308 - $53,650
The overhead rate applied for Job 306 in April is:
= Direct labor cost x 50%
= 94,200 x 50%
= $47,100
The overhead applied for Job 307 in April is:
= 161,500 x 50%
= $80,750
The overhead for Job 308 in April is:
= 107,300 x 50%
= $53,650
Hence, based on the cost of production by Stam Company, the overhead rate applied to the jobs are calculated above.
The given question is incomplete, the complete question is-
Stam Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 33,600 $ 41,900 Direct labor (in March) 24,600 20,300 Applied overhead (March) 12,300 10,150 Costs during April Direct materials 139,600 226,900 $ 102,300 Direct labor 94,200 161,500 107,300 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $91,500. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April.
Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal 4. Prepare a schedule of cost of goods manufactured for the month end April 30. Stam Company Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured.
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According to the box "Reaching Beyond Our Borders, Tesla was able to do the impossible feat of
Multiple Choice
opening up a new auto plant in China in under 18 months.
sending the first U.S. citizen to the moon.
building an electric bicycle that can be recharged on solar power.
building over 1 million vehicles each year.
Answers
Answer: Based on the information provided in the box “Reaching Beyond Our Borders,” the correct answer would be option A: opening up a new auto plant in China in under 18 months.
In the indicated time, Tesla indeed managed to complete the incredible achievement of opening a new auto manufacturing plant in China in under 18 months, a testament to their commitment to advancing the use of renewable energy and marking a significant expansion in their global presence.
Explanation:According to the box 'Reaching Beyond Our Borders', Tesla was able to accomplish the seemingly impossible feat of opening up a new auto plant in China in under 18 months. This accomplishment was striking as it signified a significant leap towards promoting sustainable energy on a global level, given Tesla's primary focus on electric vehicles. Meanwhile the options of - sending the first U.S. citizen to the moon, building an electric bicycle that can be recharged on solar power, and building over 1 million vehicles each year - do not correctly match the facts reportedly associated with Tesla's activities within the given timeframe.
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1. Why do younger, male pay more for car insurance? Why do you believe single people pay more for car insurance than married couples?
Answers
average, a married driver pays $160 less per year for car insurance than does a single, unmarried driver. While being married doesn't necessarily make you a better driver, historical data show married couples are more likely to share driving responsibilities than single people.
Hi army
gud nyt
assuming a conservative interest rate of 5.3 how much would you need to save each year to reach 105,000 in 14 years
Answers
To calculate how much you need to save each year to reach $105,000 in 14 years with a conservative interest rate of 5.3%, you can use the formula for compound interest. The formula for calculating compound interest is A = P(1+r/n)^(nt), where A is the final amount, P is the principal amount, r is the interest rate, n is the number of times the interest is compounded per year, and t is the time in years.
In this case, we know that the principal amount (P) is $0 (since we are starting from scratch), the interest rate (r) is 5.3%, the time (t) is 14 years, and we want to end up with $105,000 (A). We don't know the number of times the interest is compounded per year (n), so let's assume it's compounded annually.
Plugging in the values into the formula, we get:
A = P(1+r/n)^(nt)
$105,000 = $0(1+0.053/1)^(1*14)
Simplifying the formula, we get:
105,000 = 0(1.053)^14
105,000 = 0(2.094)
105,000 = 0
This is obviously incorrect. The reason for this is that we need to calculate how much we need to save each year, not the starting principal. To do this, we need to rearrange the formula:
A = P(1+r/n)^(nt)
P = A/(1+r/n)^(nt)
In this case, we want to find P, which is the amount we need to save each year. Plugging in the values, we get:
P = A/(1+r/n)^(nt)
P = 105,000/(1+0.053/1)^(1*14)
P = 105,000/1.946
P = $53,930.50 (rounded to the nearest cent)
Therefore, to reach $105,000 in 14 years with a conservative interest rate of 5.3%, you would need to save $53,930.50 each year. Keep in mind that this is assuming the interest rate remains constant and there are no additional fees or charges.
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1. All of the following are characteristics of perfectly competitive markets, except:A: No barriers to entry or exit (fully mobile)B: Large number of buyers & sellersC: A homogeneous product (not differentiated)D: Individual firms have the power to control price.2. The individual firm's demand curve (as compared to the market demand curve) in a perfectly competitive market is:A: Perfectly inelastic (vertical)B: Downward sloping, but inside of the market demand curve.C: Perfectly elastic (horizontal at the market price)D: Identical to the market demand curve.3. The maximization of profit occurs where:A: Total costs reaches a minimum.B: The price is as high as the demand will allow.C: Total revenues reaches a maximum.D: The difference between total revenues (TR) and total costs (TC) is the greatest.4: A firm's shutdown point is:A: The minimum on the marginal cost curve (MC).B: The minimum on the average variable cost (AVC) curve.C: The minimum on the average total cost curve (ATC).D: When demand equals zero.5. Which of the following statements about perfectly competitive markets is correct?A. In the long run, perfectly competitive firms earn zero economic profit.B. In the long run, perfectly competitive firms can earn profits, losses or break-even.C. In the short run, firms will never choose to shut down.D. In the short run, perfectly competitive firms will never earn a profit.
Answers
1) Note that all of the following are characteristics of perfectly competitive markets, except "A homogeneous product (not differentiated" (Option C)
2) The individual firm's demand curve (as compared to the market demand curve) in a perfectly competitive market is: " Downward sloping, but inside of the market demand curve" (Option B)
3) The maximization of profit occurs where: "The difference between total revenues (TR) and total costs (TC) is the greatest." (Option D)
4) A firm's shutdown point is "The minimum on the average variable cost (AVC) curve." (Option B)
5) The statement about perfectly competitive markets that is correct is;" In the long run, perfectly competitive firms earn zero economic profit" (Option A)
What is a perfectly competitive market?A perfect market, sometimes known as an atomistic market, is described in economics by numerous idealizing requirements, together known as perfect competition, or atomistic competition.
A marketing situation in which there are many vendors of a product that cannot be distinguished and, as a result, no single business has a substantial price effect.
Other prevalent variables are the ease with which new enterprises can enter the market and excellent market knowledge.
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Which best describes one of the primary aims of government fiscal policy?
Answers
Which scenario describes a job seeker using an online resource for a job search?
Answers
Answer:
A job seeker using an online resources for job search shows how
technology and the internet in particular has helped to simplify our everyday life. The use of online resources shows how much the internet has helped to reshape and revolutionize so many sectors of the society. This use of online resources in job search provides a much faster way of reaching and covering a wide range of available jobs within and far beyond your immediate geographical range. Before the internet, job searches were typically done manually, and the process consumed a lot of time and resources and was mostly limited a certain geographical range. Nowadays, someone in the US can easily apply for a job post on the internet all the way in Germany.
Answer:
these are the questions, how do you forget to put the questions??
Explanation:
A.
Tabitha visits a career expo that many architectural firms are attending.
B.
Samuel speaks to a former coworker to ask about job openings at his company.
C.
Pauline checks job listings on the career page of a company’s website.
D.
Jay registers with an employment agency to help him find jobs in engineering.
The incentive to improve material well-being by seeking to gain from economic activities is called
1 point
Legal Equality
Marginal Benefit
Open Opportunity
Profit Motive
Answers
Answer:
Profit Motive
Explanation:
Profit is the monetary gain or commercial reward for engaging in business. Profits increase the wealth of the entrepreneur.
The primary reason why Businesses are established is to generate profits for the owners. Entrepreneurs commit their resources, time, and efforts to avail goods and services to society expecting to make profits. The desire to increase wealth through profits is what drives people to start a business.
Scobie Company began 2016 with a retained earnings balance of $142,400. During an examination of its accounting records on December 31, 2016, Scobie found it had made the following material errors, for both financial reporting and income tax reporting, during 2015.
1. Depreciation expense of $15,000 inadvertently had been recorded twice for the same machine.
2. No accrual had been made at year-end for interest; therefore, interest expense had been understated by $4,000.
Scobie’s net income after taxes during 2016 was $60,000. The company has been subject to a 30% income tax rate for the past several years. It declared and paid dividends of $13,000 during 2016.
Required:
1. Prepare whatever journal entries in 2016 are necessary to correct Scobie’s books for its previous errors. Make your corrections directly to the Retained Earnings account.
Answers
The total retained earnings on 31st December 2016 is $197,100. The journal entry are attached below.
What is Retained Earnings?Retained earning is basically the profits of the company which is kept aside to meet the future requirement of the company. It the amount which is left over after deducting all cost such as direct cost, indirect cost, income taxes and dividend.
The retained earning is used in the future projects or for buying the equipment for the company.
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.
Adding foreign stocks that are riskier than the portfolio average will always increase the risk of the portfolio.
True or False
Answers
The given statement is false. A portfolio is a collection of financial assets, such as securities, bonds, commodities, cash, and cash equivalents, such as closed-end funds and exchange-traded funds (ETFs).
How would foreign stocks Help in portfolio diversification?A portfolio is a collection of financial assets, such as securities, bonds, commodities, cash, and cash equivalents, such as closed-end funds and exchange-traded funds (ETFs). Most people think that a portfolio's core consists of equities, bonds, and cash.By diversifying your assets, it is one strategy to maintain a balance between risk and return in your investing portfolio. Spreading your investments out will limit your exposure to any one form of asset. This approach is known as diversification. This routine is intended to gradually lessen the volatility of your portfolio. Building a portfolio with a variety of investments that have various estimated risks and rewards is the technique of diversification. You can be protected by diversification from circumstances that could negatively impact certain investments.Hence, The given statement is false.
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What is market environment
Answers
Answer:
The market environment is the combination of external and internal factors that affect a company's ability to establish a relationship with and serve its consumers.
Explanation:
The internal factors relate to the company itself, such as owners, workers, materials, components, etc.
The external factors are divided into macro and micro components. The macro component is the broad environment which includes societal forces that affect society as a whole. The micro component is task-related, which includes factors that influence the production, manufacturing and distribution of a product or service.
When the economy is in a recession, the government will want to increase output. If the multiplier equals 2.9 and the government increases spending by 331, how much will output by 331, how much will output increase by?
Answers
Answer:
Usando el mapa esquemático, identifica las tres provincias geomórficas de
leyenda
Identify your global challenge: Based on your purpose, strengths, and leadership style find 4-6 digital media articles from reputable news organisations (e.g., ABC, BBC, The Guardian, Australian Financial Review, etc) that illustrate the kinds of business problems you are interested in solving. Explain why you think those problems are interesting and how they relate to your purpose, strengths and leadership style.
My strengths: humor, curiosity and judgment
My leadership style: facilitative style
My purpose: learn business programe at RMIT
Answers
My purpose: learn business programe at RMIT
My purpose: learn business programe at RMIT
Alfred E. Old and Beulah A. Crane, each age 42, married on September 7,2017. Alfred and Beulah will file a joint return for 2019. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she adopted "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorce from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred pays Sarah $15,000 in 2019. In addition, in January 2019, Alfred pays Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788. Alfred's salary for 2019 is $150,000. He is an executive working for Cherry.Inc. (Federal I.D. No. 98-7654321). As part of his compensation package, Cherry provides him with group term life insurance equal to twice his annual salary. His employer withheld $24,900 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA taxes. Beulah recently graduated from law school and is employed by Legal Aid Society.Inc. (Federal I.D. No. 11-1111111), as a public defender. She receives salary of $42,000 in 2019. Her employer withheld $7,500 for Federal income taxes and $2,400 for state income taxes. The proper amounts were withheld for FICA taxes. Alfred and Beulah had interest income of $500. They received $1,900 refund on their 2018 state income taxes. They claimed the standard deduction on their 2018 Federal income tax return. Alfred and Beulah pay $4,500 interest and $1,450 property taxes on their personal residence in 2019. Their charitable contributions total $2,400 (all to their church). They paid sales taxes of $1,400, for which they maintain the receipts. Alfred and Beulah have never owned or used any virtual currency, and they do not want to contribute to the Presidential Election Campaign. Compute the Old's net tax payable (or refund due) for 2019. Suggested software: ProConnect Tax Online
Answers
To compute the Olds' net tax payable (or refund due) for 2019, we need to gather all the relevant information and calculate their taxable income, apply the appropriate tax rates, deductions, and credits. Since the tax calculation involves various factors and tax laws, it would be best to use tax software such as ProConnect Tax Online or consult with a tax professional. The software will streamline the process and ensure accurate calculations based on the specific tax laws and regulations applicable to the Olds' situation.
Partners Ana, Beth, and Cathy have capital account balances of $98000 each. The income and loss ratio is 5:2:3, respectively. In the process of liquidating the partnership, noncash assets with a book value of $66700 are sold for $29800. The balance of Beth’s Capital account after the sale is $90620. $106940. $77990. $68034.
Answers
Answer:
Balance of Beth’s Capital account after the sale = $90,620
Explanation:
Loss on sale of noncash assets = Assets' book value - Sales amount = $66,700 - $29,800 = $36,900
Beth’s share of loss on sale of noncash assets = $36,900 * (2 / (5 + 2 + 3)) = $36,900 * 0.20 = $7,380
Balance of Beth’s Capital account after the sale = Balance of Beth’s Capital account before the sale - Beth’s share of loss on sale of noncash asset = $98,000 - $7,380 = $90,620