Mary pays 503 for a booth rental and 322 salary for a worker during an event to sell novelty items Each item costs her $10.60, which she sells for $33.24. Determine her breakeven revenue. Round your answer to the nearest penny, if applicable.
Q: $100,800. The book value of the bonds in S's books at the beginning of 2022 was $98,400. What is the…
A: When a company issues a bond, it imposes a long-term loan for which interest payments are made from…
Q: 4. Blassie Incorporated sells scented candles, generally in bulk to retail stores. During December…
A:
Q: On December 31, 2020, Sack Port Ventures Inc. borrowed $103,000 by signing a four-year, 8.0%…
A: Formula: Amount of principal in each payment = Total borrowed amount / Number of years note.
Q: The following account balances were taken from the books of ABC Company for the month of March.…
A: Income statement: The income statement shows the company's revenues and expenses earned during the…
Q: Balance Est. Percentage Uncollectible Age Interval Not due $63,000 2% 1-30 days past due 7,100 5%…
A: Formula: Estimated Uncollectibe amount = Balance amount x Estimated Percentage Uncollectible
Q: Muscat company purchased office supplies costing OMR2,000 and debited Office Supplies for the full…
A: Lets understand the basics. Journal entry is required to make to record event and transaction that…
Q: On January 1, 2029, Ortiz LLC issued 5,000 shares of $5 per value common stock for cash at $10 per…
A: Share premium is the premium or additional paid in capital which has been received by the company in…
Q: 27. $ was advertised at $3,000,000 (based on annual payments of $100,000 for 30 years). Your choice…
A:
Q: In providing accounting services to small businesses, you encounter the following situations.…
A: Journal entry - It refers to the process where the business transactions are recorded in the books…
Q: Ridley Corporation is a manufacturing company in the Caribbean. The company sponsors a defined…
A: Journal entry - It refers to the process where the business transactions are recorded in the books…
Q: wOsking capít al foy all Yeaxs? Years? As Reported Annual Balance Sheet Report Date Scale 2019 2018…
A: Formula: Working capital = Current Assets - Current liabilities.
Q: Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $7.…
A: This question deals with the calculation of inventory and COGS using LIFO basis. In last in first…
Q: Cape Cod Adventures makes foam noodles with sales of 3,000,000 units per year and retractable boat…
A: ABC costing or activity based costing is the method of Costing and cost allocation that segregates…
Q: A firm operates a process, the details of which for the period were as follows. There was no…
A:
Q: Required
A: The contribution margin is the percentage of total contribution to the total sales amount. This…
Q: Reliance Corporation sold 4,900 units of its product at a price of $24 per unit. Total variable cost…
A: Formula: Total contribution margin = Contribution margin per unit x Number of units
Q: Question 14: Based on the wage-bracket method, the federal income tax withholding for an employee…
A:
Q: Why officers and employees of the cooperative development Authority are disqualified from being…
A: In this question, we will explain that Why officers and employees of the cooperative development…
Q: Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold…
A: The difference between budgeted result and actual result can be favorable or unfavorable. If the…
Q: In June 2021, A.B. Malinaw established a photography business. Transactions that transpired during…
A: Transaction No. Assets = Liabilities + Equity Cash Accounts Receivable Photo…
Q: Suppose that on its historical Income Statements, a firm always split its total depreciation and…
A:
Q: A 1000 par value 10-year bond with 6.0% semiannual coupons was convertible semiannually. bought to…
A: It is the amount liable to the bondholders by the issuer of bonds. These bonds payable will be…
Q: Which of the following statements is correct? Multiple Cholce Purchases should be made only after…
A: The question is related to Auditing and procedures of Purchase.
Q: On January 1, 2021, X Company bought a machine for $40,000. It's now January 1, 2022, and management…
A:
Q: Operating Oper Lvisions =inter pier Assets Inc $ 580,000 850,000 400,000 $ 99 98 58 Total $1,830,000…
A: In this question, we have to compute ROI for each division by dividing operating income by operating…
Q: In correction of combined errors, you need to be careful with counterbalancing and non-…
A: Counter Balancing Errors If the effect of an error in one account is cancelled by the effect of one…
Q: Dilraba Co. sold equipment in exchange for a P750,000, non-interest bearing note receivable in 5…
A: Unearned revenue is the revenue that has not been earned by the company but the payment for the same…
Q: 9. Oates Company's payroll for the week ending January 15 amounted to $50,000 for Office Salaries…
A: Solution A journal Entry is based on double entry system in which every transaction have two effects…
Q: The City of Wolfe issues its financial statements for Year 4 (assume that the city uses a calendar…
A: Government financial statements are the summaries shows assets and liabilities, equities and cash…
Q: Campbell Technologies, Inc. has three divisions. Campbell has a desired rate of return of 13.0…
A: GIVEN DATA Campbell Technologies, Inc. has three divisions. Campbell has a desired rate of return of…
Q: April Issued 5,000 share of Common Stock, $2 par for $17 per share. Record the journal entry.
A: Lets understand the basics. Journal entry is required to make to record financial event or…
Q: Use the following to answer questions 34 – 39 ST reports the following income statement results:…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: 1. How to calculate the value of a 6 year 2% coupon bond with semiannual payments, 1000 par.…
A: Solution Note : Dear student as per the Q&A guideline we are required to answer the first…
Q: Question 8: Which of the following is not a mandatory deduction from gross pay? Answer: A. Federal…
A: Introduction:- Deductions are take out from employees gross pay. Some mandatory payroll tax…
Q: Indigo Corporation began operations on January 1, 2020, with a beginning inventory of $39,940 at…
A: Ending inventory using dollar value LIFO retail method = $55,730
Q: w much interest will you save, what date will the entire loan get paid how much was the total…
A: Option -1 Loan amount $200000 Rate of Interest up to 7 years 3.50% Rate of Interest…
Q: The past year's income statement of a business showed a bottom line of P100,000 net profit. What…
A: Net profit = Revenue + other income- Expenses
Q: Total Labor VarianceRefer to the information for Tico Inc. on the previous page.Required:Calculate…
A: Calculation of Total labor variance Total Labor Variance = Standard labor cost allowed to produce…
Q: Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.)
A: Introduction:- A flexible budget is a series of budgets prepared for various levels of activities.…
Q: total assessed property value in Mountain View is $74,200,000. As the tax assessor, you have been…
A: As per our protocol we provide solution to the first three sub-parts but as you have asked multiple…
Q: April Issued 5,000 share of Common Stock, $2 par for $17 per share. Record the journal entry.
A: As the value is received in excess of par value hence balance value will be credited to additional…
Q: At the end of May 2016 there was in stock 1,200 units of Product PZ25 at Jamaica Co Ltd, valued at…
A:
Q: The following is a list of costs that were incurred in the production and sale of large commercial…
A: Product cost refers to those expenses that are directly associated with the process of production.
Q: On a recent trip to Hongkong, Brian Santos, sales manager of Micro electronic Devices, took his wife…
A: General Journal shows the recording of transactions during an accounting year and in the journal,…
Q: Question 4: Employees are either subject to both federal and state income tax withholding or to…
A: Federal income taxes are collected by federal government while state income taxes are collected by…
Q: Rozar Ltd (RL) specialises in the manufacturer of luxury furniture for the gaming market. It is…
A: In Marginal Costing we calculate contributionmargin by deducting variable costs from sales.…
Q: On December 31, a partnership has total partnership capital as follows: Partner #1,…
A: Introduction Partnership is the association of two or more persons who have agreed to share profit…
Q: Create a Statement of Cash Flows using the information provided.
A: The cash flow statement is the statement that depicts the inflows and outflow of cash and cash…
Q: Jan. Issued 1,000 shares of Common Stock, $2 par for $12 per share. Record the journal entry.
A: Lets understand the basics. For recording financial event and transaction, journal entry is required…
Q: - When is the P25,000 considered to be earned?
A: Accrual basis accounting is the method of recording the business transactions on the basis of when…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Direction: Solve the following problems and show your complete solution. 1. Aina, who works in an accounting firm, earns a monthly salary of P35,000 per month and also receives P3,500 for a monthly allowance. Her monthly contributions are as follows: P1,466 for income tax, P300 for PhilHealth, P800 for SSS, and P100 for Pag-IBIG. Find her gross and net income for this month. salary of basic salary of P3 2. Cathy, a police officer, gets a basic P39,000 a month, monthly allowance of P2,000 and a hazard pay of P2,500. Find her annual gross income.Hannah received an invoice in the mail from Carpet Country for $4235. The invoice was dated March 22 and had term 3/15, 2/20 , n/60. If she made payment of $1000 on each of April 2, April 9, and April 22, how much does Hannah still owe?Francis works for a local fly fishing shop. The shop allows employees to purchase two fly rods per year at a discount. This year, Francis purchased one rod. The rod normally retails for $300, the shop's cost was $225, it was sold to Francis for $250, and the employer's average gross profit percentage is 30 percent. What amount of the discount must be included in Francis' income? $25 $40 $50 0-
- Marcus runs a business selling reclining chairs. He buys 540 chairs for $55 each (including GST) and sells for $85 each (inc GST). He is registered for GST credits. How much is he liable to remit to the ATO assuming all the chairs are sold? For all answers (unless otherwise indicated), please round your answer to the nearest dollar and use numerals only eg 9999Audrey Martin and Beth James are partners in the Country Gift Shop, which employs the individuals listed below. Paychecks are distributed every Friday to all employees. Based on the information given, compute the amounts listed below for a weekly payroll period. Hint: It is important to ascertain whether a person's wages are considered wages or drawings. If an amount is zero, enter "0". Round your answers to the nearest cent. OASDI Taxable Name and Position Zena Vertin, Office Nicole Norge, Sales Bob Mert, Delivery Audrey Martin, Partner Beth James, Partner Totals Employer's OASDI Tax Employer's HI Tax Salary $720 per week 1,410 per month 485 per week 465 per week 465 per week $ Earnings $ OASDI Tax HI Taxable Earnings $ HI TaxMegan bought 50 beads for $9.95. She received a 10% discount, and she paid a sales tax of 6%. How much did she pay for the beads? Search entries or author Unread larr Reply Replies are only visible to those who have posted at least one reply.
- Jackie owns a temporary employment agency that hires personnel to perform accounting services for clients. During the year, her expenses for her clients include the following: Cab fare to and from restaurants Gratuity at restaurants Meals Cover charges All expenses are reasonable. Required: a. How much of these expenses can Jackie deduct? b. How is the deduction classified? Required A Complete this question by entering your answers in the tabs below. Required B Cab fare to and from restaurants Gratuity at restaurants Meals Cover Charges Total deduction How much of these expenses can Jackie deduct? Note: Leave no cells blank. Enter "0" wherever required. $ 450 400 4,500 350 Answer is complete but not entirely correct. $ $ $ $ $ 450✔ 200 x 2,250 X 175 X 3,075 XJackie owns a temporary employment agency that hires personnel to perform accounting services for clients. During the year, her expenses for her clients include the following: Cab fare to and from restaurants Gratuity at restaurants Meals Cover charges All expenses are reasonable. Required: a. How much of these expenses can Jackie deduct? b. How is the deduction classified? Complete this question by entering your answers in the tabs below. Required A Required B $ 520 470 4,850 420 How much of these expenses can Jackie deduct? Note: Leave no cells blank. Enter "0" wherever required. Cab fare to and from restaurants Gratuity at restaurants Meals Cover Charges Total deductionStella sells shoes for a retail store and receives wages of $1875 per month plus 4% commission on all her sales. What were her sales in a month in which she received a total pay of $1953 ?
- Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She incurred the following expenses: Airfare $ 580 Lodging 3,800 Meals 950 Entertainment of clients 760 Required: How much of these expenses can Jordan deduct? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar value. DeductionDuring the current year, Jobul Krist has the following costs: Utilities Maintenance And Repairs Property Taxes House Insurance Interest On Mortgage Repainting And Rewiring The Work Space In The Home Home Internet Service Fees Home Telephone: Monthly Charge Employment/Business Related Long Distance Charges $2,400 4,600 5,200 A. He is an employee with $250,000 in income (no commissions). He is an employee with $250,000 in commission income. B. C. He is self-employed and earns $250,000 in business income. 2,300 7,800 1,000 960 600 390 Mr. Krist is a workaholic with no family, friends, pets, or personal interests. He estimates that he uses 25 percent of his residence and 95 percent of his home phone and home internet service for employment/business related purposes. Maximum CCA on 100 percent of the house would be $12,000. Determine the maximum deduction that would be available to Mr. Krist assuming:Assume that Johnson earns $24 per hour and he worked 40 hours this week. The Social Security rate is 6.2% and the Medicare rate is 1.45%, and his entire earnings are subject to both FICA taxes. Also, $120 in income taxes and $40 of union dues are withheld. Johnson's net take-home pay should be: Select one: O O O O A. $726.56 B. $800.00 C. $640.00 D. $738.80