Which 2 statements are correct about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files

Answers

Answer 1

Answer:

Answer:

You can import QuickBooks Online Trial Balance data into ProConnect Tax Online to prepare tax returns via the client dashboard

You can start a new tax return from the client dashboard for non QuickBooks Online clients or clients that are using QuickBooks Online

Explanation:

While using the client details and the dash borad screens of an online accountant who are working with the client files should do the importing of the data related to the trial balance into the proconnect tax so that the tax returns could be prepared

Also the new tax return could be started from the client dashboard via using the quick books online

hence, these two statements are correct

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Derek has the opportunity to buy a money machine today. The money machine will pay Derek $43,245.00 exactly 5.00 years from today. Assuming that Derek believes the appropriate discount rate is 13.00%, how much is he willing to pay for this money machine?

Answers

Answer:

$23, 472

Explanation:

The question is to calculate how much Derek is willing to pay for the machine.

What the money Machine will pay in 5 years = $43, 245.00

The Discount rate= 13%

The number of years = 5 Years

Therefore, Present value of the machines:

PV= P x [1/(1+r)∧n]; P= Future benefit; r = rate and n = number of years

The calculation is as follows

PV= P x [1/(1+r)∧n

= $43,245 x 1/[(1+0.13)∧5]

=$43,245 x 1/1.84243

=$43,245 x 0.5428

=$23,472 (rounded)

An income statement for Alexander's Bookstore for the second quarter of the year is presented below: Alexander's Bookstore Income Statement For Quarter Ended June 30 Sales $ 1,000,000 Cost of goods sold 665,000 Gross margin 335,000 Selling and administrative expenses Selling $ 107,000 Administration 118,000 225,000 Net operating income $ 110,000 On average, a book sells for $50. Variable selling expenses are $4 per book with the remaining selling expenses being fixed. The variable administrative expenses are 3% of sales with the remainder being fixed. The contribution margin for Alexander's Bookstore for the second quarter is:

Answers

Answer:

Contribution margin= $225,000

Explanation:

Giving the following information:

Sales $ 1,000,000

Cost of goods sold 665,000

On average, a book sells for $50.

Variable selling expenses are $4 per book

The variable administrative expenses are 3% of sales

First, we need to calculate the number of units sold:

Units sold= 1,000,000/50= 20,000 units

Now, the total contribution margin:

Sales= 1,000,000

Cost of goods sold= (665,000)

Variable selling expenses= 4*20,000= (80,000)

Variable administrative expenses= (1,000,000*0.03)= 30,000

Contribution margin= $225,000

Donkey-Kong Corporation manufactured 30,000 ice chests during August. The overhead cost-allocation base was $12 per machine-hour. The following variable overhead data pertain to September: Budgeted Actual
Production 30,000 units 24,000 units
Machine-hours 15,000 hours 10,800 hours
Variable overhead cost per machine-hour: $12.00 $11.25

What is the variable overhead efficiency variance?

a. 51890 favorable
b. $34,830 unfavorable
c. $36.720 unfavorable
e. 512.240 unfavorable

Answers

Answer:

Variable overhead efficiency variance= $14,400 favorable

Explanation:

Giving the following information:

Budgeted Actual

Production 30,000 units 24,000 units

Machine-hours 15,000 hours 10,800 hours

Variable overhead cost per machine-hour: $12.00 $11.25

To calculate the variable overhead efficiency variance, we need to use the following formula:

Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate

Variable overhead efficiency variance= (12,000 - 10,800)*12

Variable overhead efficiency variance= $14,400 favorable

The ease with which resources can be adjusted in response to changes in demand, technology, products and services, and resource availability is known as:

Answers

Answer:

Process flexibility.

Explanation:

The ease with which resources can be adjusted in response to changes in demand, technology, products and services, and resource availability is known as process flexibility.

Process flexibility simply refers to the ability of a firm or company to respond to changes in the production line or manufacturing process of goods to meet the needs of their customers.

For instance, when there is a new technology in the industry, the ability of a company to switch with ease is its process flexibility.

Hiring managers should automatically preclude a candidate with a disability if they appear to be unable to do the job.True or false?

Answers

Answer:

True

Explanation:

I believe it's true. If we have a job opening for sales personnel and candidate is physically unable to walk or drive, then yes we can exclude that candidate. But once hiring manager is sure of the fact that disability will render that candidate unable to work then manager can preclude that candidate.

A firm's current profits are $1,400,000. These profits are expected to grow indefinitely at a constant annual rate of 4 percent. If the firm's opportunity cost of funds is 7 percent, determine the value of the firm: Instructions: Enter your responses rounded to two decimal places. a. The instant before it pays out current profits as dividends. $ 49933333.33 million b. The instant after it pays out current profits as dividends.

Answers

Answer:

a. $49,933,333.33 million

b. $48,533,333.33 million

Explanation:

The computations are presented below:

a. For current profits as dividends in before case

= Profits × (1 + opportunity cost) ÷ (opportunity cost - growth rate)

= $1,400,000 × (1 + 0.07) ÷ (0.07 - 0.04)

= $1,400,000 × 35.6666

= $49,933,333.33 million

b. For current profits as dividends in after case

= Profits × (1 + growth rate) ÷ (opportunity cost - growth rate)

= $1,400,000 × (1 + 0.04) ÷ (0.07 - 0.04)

= $1,400,000 × 34.6666

= $48,533,333.33 million

Final answer:

Using the Gordon growth model, the value of the firm before dividend payouts is calculated to be $49,933,333.33. However, instantly after the dividend payouts, the firm's value becomes zero.

Explanation:

The value of the firm can be determined using the Gordon growth model, which is used to determine the value of a firm or stock that pays dividends that are expected to grow at a constant rate. In such a scenario, the firm's value is equal to the dividends of the next period (D1) divided by the required rate of return minus the growth rate of dividends.

Part A: The firm's value, before the payouts, can be calculated as:

Value = D0 * (1+g) / (k-g) = $1,400,000 * (1+0.04) / (0.07-0.04) = $49,933,333.33

Part B: The firm's value, after payouts, assumes that the firm's capital has come back to the company and will start accumulating again once the next cycle begins. Thus the firm's value would become zero.

Learn more about Gordon Growth Model here:

brainly.com/question/33286384

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