Retirement planning should begin at what age?

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Answer 1
Answer:

Answer:

60

Explanation:


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Daniela is a 25% partner in the JRD Partnership. On January 1, JRD makes a proportionate distribution of $16,000 cash, inventory with a $16,000 fair value (inside basis $8,000), and accounts receivable with a fair value of $8,000 (inside basis of $12,000) to Daniela. JRD has no liabilities at the date of the distribution. Daniela's basis in her JRD partnership interest is $20,000. What is Daniela's basis in the distributed inventory and accounts receivable?
Bryan Houlberg expects his C corporation to generate a profit of $200,000. What is Bryan's after-tax cash flow from the corporation if net income after corporate tax is distributed to him as a dividend and his marginal tax rate on ordinary income is 37%?
The Uniform Guidelines on Employee Selection Procedures require validated procedures for selecting and promoting employees but do not apply to dismissal, transfer, or demotion.True/False
For an all-equity firm: (a) as earnings before interest and taxes (EBIT) increase, the earnings per share (EPS) increases by the same percentage. (b) as EBIT increases, the EPS increases by a larger percentage. (c) as EBIT increases, the EPS decreases at the same rate. (d) as EBIT increases, the EPS decreases by a larger percentage. (e) as EBIT increases, the EPS might either increase or decrease
Perfect Clean, Inc. provides housekeeping services. The following financial data have been provided.Service Revenue$80,000Cleaning Supplies Used22,000Wages Expense19,350Office Rent Expense5,150Depreciation Expense—Machinery550Calculate the contribution margin and the contribution margin ratio. (Round your contribution margin to the nearest dollar, and your contribution margin ratio to two decimal places.)A) $38,650; 48.31% B) $74,850; 93.56%C) $60,650; 75.81% D) $32,950; 41.19%

For the statements below select the appropriate terms from the given choices. 1. A revenue not yet recognized; collected in advance. 2. Office supplies on hand that will be used in the next period. 3. Interest revenue collected; not yet recognized. 4. Rent not yet collected; already recognized. 5. An expense incurred; not yet paid or recorded. 6. A revenue recognized; not yet collected or recorded. 7. An expense not yet incurred; paid in advance. 8. Interest expense incurred; not yet paid.

Answers

Following are the  appropriate terms that are used in Business terms.

Explanation:

1. Advance income received - As it is prepaid

2. Stock / Current Asset - Depending upon the choice given

3. Advance interest received - Prepaid Advance

4. Accrued rent- Amount yet to be credited

5.Outstanding Expense - That is yet to be paid

6. Accrued Income - Revenue yet to be generated

7.Prepaid Expense - Paid in Advance

8. Outstanding Interest - Yet to be paid.

Above are the proper words that are used to in the Business terms that are globally used by any kind of enterprise.

Final answer:

The statements refer to common business and accounting concepts such as deferred revenue, accrued revenue, and prepaid expense among others. These terms help in recognizing and recording revenue and expenditures in the right accounting period.

Explanation:

Here are the appropriate terms for each statement:

Deferred Revenue - A revenue not yet recognized; collected in advance.

Prepaid Expense - Office supplies on hand that will be used in the next period.

Unearned Revenue - Interest revenue collected; not yet recognized.

Accrued Revenue - Rent not yet collected; already recognized.

Accrued Expense - An expense incurred; not yet paid or recorded.

Unbilled Revenue - A revenue recognized; not yet collected or recorded.

Prepaid Expense - An expense not yet incurred; paid in advance.

Accrued Interest - Interest expense incurred; not yet paid.

Learn more about Accounting Concepts here:

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You are the newly appointed sales manager of the Rock Record Company and have been charged with the task of increasing revenues. Your economics consultants have informed you that at present price and output levels, price elasticity of demand for your product is less than one. You should:

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Answer:

Increase price.

Explanation:

Price elasticity is the degree of responsiveness of quantity demanded to changes in price. Ideally as price increases quantity demanded reduces. When prices reduce quantity demanded increases.

As a new manager of Rock Record company, if the economics consultants inform you the price elasticity is less than one it means quantity does not change with increase in price.

So price can be increased without a corresponding decrease in price. The goal of higher revenue can be achieved by increasing the product price.

Answer:

The correct answer is: increase prices.

Explanation:

Price elasticity refers to the changes in quantity demand after the change in price for a good or service. Elasticity is calculated by dividing the percentage in quantity demanded by the percentage change in price. If the result is equal or greater than one (1) the demand is elastic. If the result is lower than 1 the demand is inelastic.

Thus, in the case given, Rock Record Company has an inelastic price demand since it is lower than 1. It implies changes in price are unlikely to change the quantity demanded. As the company needs to increase the revenue, the easiest method to achieve that is to raise the product prices.

Powers Company reported Net sales of $1,240,000 and average Accounts Receivable, net of $74,500. The accounts receivable turnover ratio is:

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Answer:

Accounts receivable turn over is 16.64

Explanation:

To compute accounts receivable turn over ratio, we simply divide net credit sales over the average accounts receivable.

Accounts receivable turn over ratio = $1,240,000/$74,500

= 16.64

The higher the ratio, the better it is in the company. It simply means, the company exercises the effective way to collect its receivable from the customer.

*Net credit sales is derived by deducting sales returns and allowances from gross credit sales. If the problem is silent regarding cash sales, we will assume that the sales made by the period is all at credit.

Ryder Supplies has its stock currently selling at $63.25. The company is expected to grow at a constant rate of 7 percent. If the appropriate discount rate is 17 percent, what is the expected dividend, a year from now?a) 4.43 b) 3.25 c) 10.75 d) 6.33

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Answer:

d) 6.33

Explanation:

The computation of the expected dividend a year from now is shown below:

As we know that

Price of the stock =  Expected dividend ÷ (Required rate of return - growth rate)

Expected dividend = Price of the stock ×  (Required rate of return - growth rate)

= $63.25 × (0.17 – 0.07)

= $6.325

hence, the correct option is d. $6.33

We simply applied the above formula so that the correct value could come

And, the same is to be considered

The net income reported on the income statement for the current year was $250,771. Depreciation recorded on fixed assets and amortization of patents for the year were $35,093 and $10,838, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:End Beginning
Cash: $50,000 $60,000
Accounts receivable: 112,000 108,000
Inventories: 105,000 93,000
Prepaid expenses: 4,500 6,500
Accounts payable-
(merchandise creditors): 75,000 89,000

What is the amount of cash flows, from operating activities, reported on the statement of cash flows, prepared by the indirect method?

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Answer:

The amount of cash flows, from operating activities, reported on the statement of cash flows, prepared by the indirect method is $268,702

Explanation:

The Net Income for the year is adjusted for non-cash items, items appearing elsewhere and items in movement of working capital to arrive at the net cash flow from operating activities using the indirect method.

Cash flows, from operating activities

Net income                                                                            $250,771

adjusted for non-cash items

Depreciation                                                                            $35,093

Amortization                                                                             $10,838

adjusted for items in movement of working capital

Increase in Accounts receivable                                            ($4,000)

Increase in Inventories                                                           ($12,000)

Decrease in Prepaid expenses                                                $2,000

Decrease in Accounts payable                                                (14,000)

Net Cash flows, from operating activities                             $268,702

Which of the following you should use if you expect the probability for an increase in pound value is greatee than that for decrease

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what are the options?
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