Finch Company's income statement information follows: The average number of shares outstanding was 7,900 for Year 3 and 6,900 for Year 2. Required Compute the following ratios for Finch for Year 3 and Year 2. a. Number of times interest was earned. Note: Round your answer to 2 decimal places. b. Earnings per share based on the average number of shares outstanding. Note: Round your answer to 2 decimal places. c. Price-earnings ratio (market prices: Year 3,$66 per share; Year 2,$74 per share). Note: Round your answer to 2 decimal places. d. Return on average equity. Note: Round your percentage answer to 2 decimal places (for example, 0.2345 should be entered as 23.45 ). e. Net margin. Note: Round your percentage answer to 2 decimal places (for example, 0.2345 should be entered as 23.45 ). \begin{tabular}{|l|l|l|l|l|} \hline \hline & \multicolumn{2}{|c|}{ Year 3} & \multicolumn{1}{|c|}{ Year 2} \\ \hline a. Times interest earned & & times & & times \\ \hline b. Earnings per share & & & & \\ \hline c. Price-earnings ratio & & times & & times \\ \hline d. Return on average equity & & % & & % \\ \hline e. Net margin & & % & % \\ \hline \end{tabular}
Answers
The calculation of all the ratios for Finch is shown in the below table.
a. Times interest earned & 11.49 & times & 8.71.
b. Earnings per share & $95.95 & & $89.43.
c. Price-earnings ratio & 0.69 & times & 0.83 .
d. Return on average equity & 55 & 47.83.
e. Net margin & 11.27 and 9.82.
How to find?a. Number of times interest was earned
Number of times interest was earned formula is EBIT/Interest Expense;
EBIT Year 3 = 1,092,000 + 114,000
= 1,206,000
Interest expense = 105,000
Times interest earned for year 3 is-
= 1,206,000/105,000
= 11.49 times (rounded to 2 decimal places)
EBIT Year 2
= 740,000 + 84,000
= 824,000
Interest expense = 94,500
Times interest earned for year 2 is 824,000/94,500 = 8.71 times (rounded to 2 decimal places)
b. Earnings per share based on the average number of shares outstanding
EPS formula is (Net Income - Preferred Dividends) / Weighted average number of shares outstanding;
Net Income Year 3 = 770,000 - 60,000
= 710,000
Weighted average shares outstanding year 3 = (7900 + 6900)/2
= 7400
EPS year 3 is 710,000/7400 = $95.95 (rounded to 2 decimal places)
Net Income Year 2 = 550,000
Weighted average shares outstanding year 2 = (6900 + 5400)/2
= 6150
EPS year 2 is 550,000/6150 = $89.43 (rounded to 2 decimal places)
c. Price-earnings ratio (market prices: Year 3,$66 per share; Year 2,$74 per share)
PE ratio formula is Market price per share / EPS;
PE ratio year 3 is 66/95.95 = 0.69 times (rounded to 2 decimal places)
PE ratio year 2 is 74/89.43 = 0.83 times (rounded to 2 decimal places)
d. Return on average equity
ROAE formula is Net Income / Average shareholder's equity;
Net income Year 3 = 770,000
Avg. Shareholders equity Year 3 = (1500000 + 1300000)/2
= 1400000
ROAE Year 3 is 770,000/1400000 = 55% (rounded to 2 decimal places)
Net income Year 2 = 550,000
Avg. Shareholders equity Year 2 = (1300000 + 1000000)/2
= 1150000
ROAE Year 2 is 550,000/1150000 = 47.83% (rounded to 2 decimal places)
e. Net margin
Net margin formula is Net Income / Net sales;
Net Income Year 3 = 770,000
Net sales Year 3 = 6,840,000
Net margin year 3 is 770,000/6,840,000 = 11.27% (rounded to 2 decimal places)
Net Income Year 2 = 550,000
Net sales Year 2 = 5,600,000
Net margin year 2 is 550,000/5,600,000 = 9.82% (rounded to 2 decimal places).
Therefore, the calculation of all the ratios for Finch is shown in the below table.
a. Times interest earned & 11.49 & times & 8.71.
b. Earnings per share & $95.95 & & $89.43.
c. Price-earnings ratio & 0.69 & times & 0.83 .
d. Return on average equity & 55 & 47.83.
e. Net margin & 11.27 and 9.82.
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Related Questions
Madelyn is calculating the present value of a bonus she will receive next year. The process she is using is called:_____
Answers
Madelyn is calculating the current value of a bonus she's going to receive next year. the method she is using is termed Discounting.
Discounting is that the process of determining this value of a payment or a stream of payments that's to be received within the future. Given the note value of cash, a dollar is worth more today than it might be worth tomorrow. Discounting is that the primary factor employed in pricing a stream of tomorrow's cash flows. Discounting is that the process of determining the current value of a future payment or stream of payments. A dollar is usually worth more today than it might be worth tomorrow, in keeping with the concept of the duration of cash. the next discount indicates a greater the amount of risk related to an investment and its future cash flows.
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In for peny, in for a pound , taking care of the rands and cents
Answers
Answer:
l don't understand the question you ask
coronado has a standard of 2 hours of labor per unit, at $12 per hour. in producing 2800 units, coronado used 5450 hours of labor at a total cost of $66490. coronado's total labor variance is
Answers
To calculate Coronado's total labor variance, we need to first find the standard labor cost for producing 2800 units. We know that the standard labor rate is $12 per hour, and the standard labor hours per unit is 2. Therefore, the total standard labor cost for producing 2800 units would be:
Standard labor cost = Standard labor rate x Standard labor hours per unit x Number of units produced
Standard labor cost = $12 x 2 x 2800
Standard labor cost = $67,200
Next, we can calculate the actual labor cost for producing 2800 units. We know that Coronado used 5450 hours of labor at a total cost of $66,490. Therefore, the actual labor rate per hour would be:
Actual labor rate per hour = Actual labor cost / Actual labor hours
Actual labor rate per hour = $66,490 / 5450
Actual labor rate per hour = $12.18
Using this actual labor rate, we can calculate the actual labor cost for producing 2800 units:
Actual labor cost = Actual labor rate per hour x Actual labor hours per unit x Number of units produced
Actual labor cost = $12.18 x 2 x 2800
Actual labor cost = $68,064
To calculate the total labor variance, we subtract the standard labor cost from the actual labor cost:
Total labor variance = Actual labor cost - Standard labor cost
Total labor variance = $68,064 - $67,200
Total labor variance = $864
Therefore, Coronado's total labor variance is $864. This indicates that they spent more on labor than expected, and may need to investigate why they used more hours than the standard per unit. They may need to re-evaluate their production process or make adjustments to their labor standards in the future.
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.
Lena thinks someone has stolen her identity. She isn’t sure if she should place a fraud alert on her credit report. She doesn’t understand anything about fraud alerts. What true statement could you teach Lena to help her make a more informed decision?
A fraud alert prevents anyone from viewing your credit report.
A fraud alert can stop anyone from opening any new accounts in your name.
When filing a fraud alert, you must first pay for a credit report.
To place a fraud alert, you must contact all three credit reporting agencies.
Answers
Answer:
A fraud alert prevents anyone from viewing your credit report
A fraud alert prevents anyone from viewing the credit report is the true statement could you teach Lena to help her make a more informed decision. Thus, option A is correct.
What is credit report?A credit history is a credit record of a borrower's timely debt repayment. A credit report is a record of a borrower's credit history obtained from a variety of sources, such as banks, credit card companies, collection agencies, and governments.
A credit score is essentially a summary of your credit history, whereas your credit report contains all the specifics of the financial history. The credit report will delve much deeper into your lending history, allowing the lender to examine how a person handled borrowed funds.
Therefore, option A is correct.
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Garrison Corporation purchased a depreciable asset for $420,000 on January 1, 2015. The estimated salvage value is $42,000, and the estimated total useful life is 9 years. The straight-line method is used for depreciation. On January 1, 2018, Garrison changed its estimates to a useful life of 5 years from the current date with a salvage value of $70,000. What is the 2018 depreciation expense? Select one: O a. $44,800 O b. $42,000 OC $112,000 O d. $126,000 Oe. $132,000
Answers
To calculate the 2018 depreciation expense, we need to compare the revised estimated useful life and salvage value to the remaining useful life and book value of the asset.
Given:
Original cost of the asset: $420,000
Original estimated salvage value: $42,000
Original total useful life: 9 years
Revised estimated useful life: 5 years
Revised estimated salvage value: $70,000
First, let's calculate the original annual depreciation expense using the straight-line method:
Annual depreciation expense = (Original cost - Salvage value) / Total useful life
Annual depreciation expense = ($420,000 - $42,000) / 9 = $42,000
Next, we need to determine the book value of the asset at the beginning of 2018. Since the asset was purchased on January 1, 2015, the beginning of 2018 marks the start of the fourth year.
Accumulated depreciation at the end of 2017 = Annual depreciation expense * Years of depreciation
Accumulated depreciation at the end of 2017 = $42,000 * 3 = $126,000
Book value at the beginning of 2018 = Original cost - Accumulated depreciation at the end of 2017
Book value at the beginning of 2018 = $420,000 - $126,000 = $294,000
Now, we compare the revised estimated useful life and salvage value to the remaining useful life and book value of the asset:
Revised remaining useful life = Revised estimated useful life - Years of depreciation
Revised remaining useful life = 5 - 3 = 2 years
Since the remaining useful life is now 2 years, we need to calculate the revised annual depreciation expense:
Revised annual depreciation expense = (Book value at the beginning of 2018 - Revised salvage value) / Revised remaining useful life
Revised annual depreciation expense = ($294,000 - $70,000) / 2 = $112,000
Therefore, the 2018 depreciation expense for Garrison Corporation using the straight-line method, after the change in estimates, would be $112,000.
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why is training important for a good job?plz answer
Answers
Advantages of training
Increased job satisfaction and morale among employees.
Increased employee motivation.
Increased efficiencies in processes, resulting in financial gain.
Increased capacity to adopt new technologies and methods.
Increased innovation in strategies and products.
You are ordering $210 of goods from a vendor. The vendor offers a 3% (only
on the goods) discount if you pay your bill in 30 days. Assume that you will
take advantage of this discount. Shipping is $12.95. What is the total
amount of this order?
Answers
Answer:
$216,65
Explanation:
$210(price for the goods) * 0,03(3% discount) = $6,3(amount of the discount)
$210(price for the goods) - $6,3(amount of the discount) = $203,7(total amount without shipping)
$203,7(total amount without shipping) + $12,95(shipping) = $216,65(total amount)
Which of the following statements is true about a Medicare Supplement Insurance Plan member who wants to enroll in an MA Plan?
a. Medicare Supplement Insurance cannot be used in conjunction with an MA Plan; therefore, after receiving confirmation of enrollment into the MA Plan, the member should submit to their Medicare Supplement Insurance carrier a written request to cancel his/her policy.(right)
b. The member must submit a written request to cancel their Medicare Supplement Insurance Plan the same day they submit their MA Plan enrollment application.
c. When a member enrolls in the MA Plan their current Medicare Supplement Insurance Plan will automatically cancel.
d. The member should not cancel their Medicare Supplement Insurance Plan because Medicare Supplement Insurance can be used in conjunction with an MA Plan.
Answers
The statements is true about a Medicare Supplement Insurance Plan member who wants to enroll in an MA Plan is : A. Medicare Supplement Insurance cannot be used in conjunction with an MA Plan; therefore, after receiving confirmation of enrollment into the MA Plan, the member should submit to their Medicare Supplement Insurance carrier a written request to cancel his/her policy.
What is Medicare Supplement InsuranceMedicare Supplement plans can be defined as a health insurance coverage that help to provide extra coverage to those under Medicare plan which inturn help to cover medical expenses or medical cost.
Hence, option A is the correct statement that is true about Medicare Supplement Insurance Plan based on the fact that Medicare Supplement Insurance cannot be used in conjunction with an MA Plan; therefore, after receiving confirmation of enrollment into the MA Plan, the member should submit to their Medicare Supplement Insurance carrier a written request to cancel his/her policy.
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The items below list several e-mail practices. If the practice describes something workers should do when using e-mail for business purposes, select Do. If the practice describes something workers should not do when using e-mail for business purposes, select Don't.
include a signature.
include lots of exclamation marks to get your point across.
include the thread of previous messages.
make e-mail messages brief.
always mark messages as urgent so your e-mails will be read first.
use a relevant subject line.
use all capital letters when the message is urgent.
Answers
Answer:
do
don't
do
do
don't
do
dont
replicated databases usually result in tightly coupled nodes. group of answer choices true false
Answers
Replicated databases typically result in tightly coupled nodes.
In the context of database systems, replication refers to the process of creating and maintaining multiple copies of a database across different nodes or servers. This replication is often done to enhance data availability, fault tolerance, and performance. When databases are replicated, the nodes or servers involved are tightly coupled, meaning they are closely interconnected and dependent on each other. Any changes or updates made to one node are quickly propagated to other nodes to ensure consistency among the replicated copies. This tight coupling ensures that all nodes have the same data and can serve requests seamlessly. Therefore, the statement is true: replicated databases usually result in tightly coupled nodes.
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The campus barber faces stiff competition from the large number of shops that surround the campus area, and for all practical purposes the market is perfectly competitive. He charges $10 for a haircut and cuts hair for 18 people a day. His shop is open for 5 days a week.
Calculate his weekly total revenue $__.
Calculate his average revenue per haircut $__.
Calculate his marginal revenue per haircut. $__.
Answers
Answer:
$900
$10
$10
Explanation:
A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
In a perfect competition, price = marginal revenue = average revenue
if price is $10, marginal and average revenue is $10.
total revenue = price per haircut x total number of people he attends to in a week.
total number of people he attends to in a week = 18 x 5 = 90
Total revenue = $10 x 90 = $900
g if the federal reserve purchases large amounts of long-term bonds in order to drive long-term interest rates down, this is evidence of:
Answers
The activity involving a purchase of large amounts of long-term bonds by the federal reserves in order to drive long-term interest rates down is an evidence of liquidity in the prevailing market conditions.
Liquidity can be referred to or considered as the condition wherein there is an excess of amount of reserves available that can be easily converted into cash or monetary value. Usually, higher liquidity indicates that there is a higher amount of capital inflow, and the borrowings are lower. A condition of liquidity may also lead to bring the interest rates down in the longer run.
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Job specifications can be defined as: a. planned sequences of jobs through which employees may advance within an organization. b. written descriptions of the basic responsibilities required of an employee holding a particular job. c. a set of procedures for advertising job openings within a company to existing employees. d. a written summary of the qualifications needed to successfully perform a particular job.
Answers
Answer:
Option d would be the correct approach.
Explanation:
The organized database of the important tasks required in carrying out a task that has been extrapolated from such a job description and used in job classification and assessment and personnel policies as well as positioning.This usually includes tasks, intent, obligations, nature including employment conditions of a position including the description of the position, as well as the identity or description of the individual the input data to.Many examples do not apply to the subject being discussed. So option d is indeed the right one.
compare and contrast reference theory of meaning and idea theory of meaning
Answers
Explanation:
Reference theory of meaning is a philosophical thought that believes the meaning of a word or acronym is doing in what it points out in the world. But the idea theory of meaning feels the meaning of a word or acronym lies in the group it represents.
For example, the meaning of the term would be seen as relating to illnesses and viruses as well as number of years from the point of view of idea theory of meaning. While the reference theory of meaning would allude the meaning using proper reference to the illness (Coronavirus) that caused the disease.
old Spanish-type houses in have huge high-pitched roo
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what is the question kind lad
what have we learned about the relationship between pay raises and performance from experts?
Answers
Pay raises and performance are closely related to each other. The performance of an employee plays a crucial role in determining whether the employee deserves a pay raise or not. The experts have suggested several things about the relationship between pay raises and performance.
Here are some points that we have learned from experts:
According to experts, pay raises should be directly related to an employee's performance. In other words, employees should receive a pay raise based on their productivity, contributions, and achievements. If an employee has done outstanding work, then the employee should get a raise. If an employee has not performed well, then the employee should not receive a pay raise.
Experts suggest that companies should conduct regular performance evaluations to assess employees' performance and to determine whether they deserve a pay raise or not. The evaluation should be based on specific criteria, such as job duties, skill level, productivity, and customer satisfaction.According to experts, a performance-based pay system is beneficial for both the company and the employees. Employees feel motivated to perform better, and they are rewarded for their hard work. On the other hand, the company benefits from increased productivity, higher employee retention rates, and improved morale.In conclusion, we can say that the relationship between pay raises and performance is essential for the success of any company.
A performance-based pay system is a fair and effective way to motivate employees to perform their best and to reward them for their achievements.
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Which statement(s) most directly apply to capitalism? I. There is heavy government regulation of industry. II. Individuals can start some, but not all, kinds of enterprises. III. The price and availability of goods is determined primarily by the market. A. I and II b. II only c. I and III d. III only.
Answers
Capitalism refers to private ownership of trade and industries and price of good and services determine by the market.
What do you mean by capitalism?It is the countries economic and political system where trade, industries and capital goods are owned and controlled by private individuals for profit rather than the government.
The statement that the price and goods availability is determined primarily by the market explains the capitalism.
Therefore, option d aptly describes capitalism.
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Disadvantages of canteen
Answers
The quality of the food is another drawback of an office canteen.
The required details for canteen in given paragraph
Having a cooked lunch is a luxury for many employees, but as it becomes more commonplace, many may choose the tastier options instead of giving their food much care. Unhealthy selections start to dominate and, if routinely consumed, will result in future issues. For kids who may feel overwhelmed by their newfound freedom to choose what they eat for lunch, having too many food options can result in making bad eating decisions.
Despite the fact that parents frequently have little knowledge of the foods their children choose, they are the ones who load money onto their pupils' lunch cards.
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What steps must countries take to transition to a mixed-market economy? check all that apply.
Answers
Answer:
They must establish a fair labor market
Research shows over 60 percent of variance on performance ratings can be traced to 20 Multiple Choice Skipped o work climate factors individual raters' bioses ооо Individual rate behavior wystem and procedure error
Answers
The 60 percent of variance on performance ratings can be broken down as follows: 20 percent of the variance can be attributed to multiple factors, such as work climate, individual raters' biases, individual rate behavior, and system and procedure error.
What is procedure error?A Procedure Error is an unexpected or undesired outcome that occurs when a computer program does not run as expected. It can result from a coding error in the program, an issue with the hardware, or a problem with the operating system. Procedure Errors can cause the program to crash or freeze, produce incorrect results, or force the program to terminate. They can also lead to system instability, data loss, and security vulnerabilities. It is important to identify the source of the error and take the necessary steps to resolve it. This may involve debugging the code, updating the hardware or software, or making a change to the system configuration.
This leaves 40 percent of the variance to be attributed to other factors, such as individual employee performance.
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The promotion of companies’ sustainably harvested rainforest products is intended to _______.
Answers
Companies are involved in promotion of sustainably harvested rain-forest products in order to gain an a competitive advantage.
What is competitive advantage?A competitive advantage means an advantage possess by a firm that allow them to produce goods or services better or more cheaply than its rivals.
In conclusion, the companies are involved in promotion of sustainably harvested rainforest products in order to gain an a competitive advantage.
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Why are carpenters considered generalists?
O They are able to work independently.
O They supervise other workers on the operations team.
O They need an associate's degree for licensure.
O They are versatile and perform a variety of tasks.
Answers
Answer:
I feel like it's the last one but I could be wrong plz let me know
Explanation:
Answer:
They are versatile and perform a variety of tasks.
Explanation:
First National Bank charges 11.7 percent compounded monthly on its business loans. First United Bank charges 11.9 percent compounded semiannually.
Answers
Answer:
a. EAR for First National Bank = 12.35%
b. EAR for First United Bank = 12.25%
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
First National Bank charges 11.7 percent compounded monthly on its business loans. First United Bank charges 11.9 percent compounded semiannually.
Calculate the EAR for First National Bank and First United Bank. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Explanation of the answers is now given as follows:
The effective annual rate (EAR) can be calculated using the following formula:
EAR = ((1 + (i / n))^n) - 1 .............................(1)
Where;
i = Annual interest rate of the bank
n = Number of compounding periods in a year
Therefore, we have:
a. Calculation of the EAR for First National Bank
i = Annual interest rate of First National Bank = 11.7%, or 0.117
n = Number of compounding periods in a year = 12
Substituting the values into equation (1), we have:
EAR for First National Bank = ((1 + (0.117 / 12))^12) - 1
EAR for First National Bank = 1.12348257790079 - 1
EAR for First National Bank = 0.12348257790079, or 12.348257790079%
Rounding to 2 decimal places as required, we have:
EAR for First National Bank = 12.35%
b. Calculation of the EAR for First United Bank
i = Annual interest rate of First United Bank = 11.9%, or 0.119
n = Number of compounding periods in a year = 2
Substituting the values into equation (1), we have:
EAR for First United Bank = ((1 + (0.119 / 2))^2) - 1
EAR for First United Bank = 1.12254025 - 1
EAR for First United Bank = 0.12254025, or 12.254025%
Rounding to 2 decimal places as required, we have:
EAR for First United Bank = 12.25%
Which of the main components of money management involves creating a plan for spending and saving during particular time periods, such as a year, month, or week?
A. financial records
B. personal financial statements
C. budgeting
D. filing taxes
Answers
Answer:
C. budgeting
Explanation:
The main components of money management that involve creating a plan for spending and saving during particular periods, such as a year, month, or week is known as BUDGETING
Budgeting is a part of the components of money management. It is an act of estimating the total expenses and income that deals with establishing a plan for spending and saving and usually gathered and regularly re-examine, including yearly, monthly, or weekly
What was affirmative action and who was it designed to help?
Answers
Affirmative action seeks to increase a society's opportunities for recognized minority groups so that they can enjoy the same rights as the majority population.
Affirmative action is a collection of policies intended to end illegal discrimination against candidates, address the effects of such discrimination in the past, and foresee future instances of such discrimination.
Candidates can be looking for professional employment or admittance to a school of higher learning.
Affirmative action moves our country closer to the ideal of providing everyone an equal shot by assisting in ensuring equitable access to opportunities.
Therefore, affirmative action refers to taking proactive measures to end discrimination, to stop it from happening again, and to open up new opportunities that were previously closed off to women and people of color.
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Which situation creates scarcity in an economy?
A. Humans and physical capital are used as factors of production when making goods.
B. Businesses disregard public needs and only supply goods that are cheap to make.
C. Citizens have more wants than they can fulfill with their available resource.
D. Governments decide to distribute goods to make sure all citizens are equal.
Answers
Option C. Citizens have more wants than they can fulfill with their available resource.
How are unlimited needs and limited resources related to shortage?Seinfeld's economics, next to, describes the term as follows: "In essence, unlimited desire means that people can't get enough, and that there's always something they want." Rarity. "
Rarity in economics refers to the case where the demand for a resource is greater than the supply of that resource due to the finite number of resources. Rarity requires consumers to choose how best to use their resources to meet all basic needs and as many needs as possible.
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You manage a group of people from all five working generations. The makeup of your work group marches the percentage breakdown of the current US workforce. Which type of communication style would be preferred by the generation with the most people?
Email
Social media
Text
IM
Answers
Among the five working generations in the current US workforce, the communication style preferred by the generation with the highest representation would be social media.
Considering the percentage breakdown of the current US workforce, the generation with the most people is likely to be the Millennials (also known as Generation Y). This generation, born between the early 1980s and mid-1990s, grew up during the rise of social media platforms. They are generally tech-savvy, comfortable with digital communication, and value convenience and efficiency in their interactions.
Given these characteristics, Millennials are more likely to prefer social media as their preferred communication style. Social media platforms offer real-time updates, instant messaging features, and the ability to share information and engage in discussions. These platforms provide a convenient and efficient way to connect with colleagues, share ideas, collaborate on projects, and stay informed about work-related matters.
While other communication methods such as email, text, and instant messaging (IM) are also used by different generations, social media is particularly favored by Millennials due to its interactive and engaging nature. It allows for quick and informal communication, making it well-suited for their preferences and communication style.
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An entity enters into a contract with a customer to sell products X, Y, and Z in exchange for $250,000. Control over the products will be transferred to the customer at different points in time. The entity determines that the delivery of each product is a distinct performance obligation. Products X and Y are regularly sold separately and their standalone selling prices of $40,000 and $120,000, respectively, are directly observable. The standalone selling price of product Z of $160,000 was estimated using the adjusted market assessment approach. The entity determined that the discount provided to the customer does not relate to one or more specific products in the contract. What revenue will be recognized by the entity on the sale of product X
Answers
Answer:
B. $31,250
Explanation:
The computation of the revenue that should be recognized by the entity on the sale of product X is shown below;
Here the transaction price should be distributed to the performance obligations.
The sum of the standalone selling price is
= $40,000 + $120,000 + $160,000
= $320,000
And, the standalone selling price is $40,000
Now the revenue that should be recognized is
= $40,000 ÷ $320,000 × $250,000
= $31,250
Make a poster that could be used to educate people about why the
government needs to charge taxes. The poster should encourage private
individuals to pay their taxes by educating them about what the government
uses the taxes for.
Answers
Taxes are used by the government for carrying out various welfare schemes including employment programmes
What are the taxes collected by the government?It includes collections from income tax, corporation tax, customs, wealth tax, tax on land revenue, etc. Direct tax is the tax that is paid directly to the government by the person or company on whom it is levied. Income tax, wealth tax, corporation tax, and property tax are some examples of direct tax.The Central Government of India imposes taxes such as customs duty, central excise duty, income tax, and service tax. The state governments impose income tax on agricultural income, state excise duty, professional tax, land revenue and stamp dutyThe three main sources of federal tax revenue are individual income taxes, payroll taxes, and corporate income taxes. Other sources of tax revenue include excise taxes, the estate tax, and other taxes and feesTo learn more about taxes collected by the government refers to:
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Pays for everything from Social Security and Medicare to military equipment, highway maintenance, education, and more
Why does the government need to force individuals to pay taxes?We pay taxes to ensure that our federal, state, and local governments can function efficiently and deliver essential services. Each government has its own emphasis, with the federal government in charge of big-picture expenditures on items like military and Social Security. Spending by the federal government covers everything from Social Security and Medicare to military equipment, transportation repair, education, and more. The federal government spent the most on Social Security in 2022.
Taxation generates cash for federal, state, and municipal governments to support vital services like as defense, highways, police, and a judicial system, which benefit all residents who would be unable to provide such services successfully for themselves.
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A married couple are both employed by firms that cover them under the company pension plans, and each earns approximately $300,000 annually. If they both open a traditional IRA and make the maximum contribution, how much of their contribution could they deduct