The income of Bart is $44,593 as per the given schedule
Wages are certainly deductible, as are payroll taxes. Licensing Fees are deductible as are supplies and utilities related to the business. The utilities would be the cell phone bill and internet service. Meals are deductible but only 50% of them. Therefore of the $3,000 meal total, only half of that, or $1,500 is deductible. To calculate the total self-employment income we will take the total revenue figure and deduct the dollar amounts of the allowable expenses listed above.
Revenue = $102480
Wages = ($46000)
Payroll taxes = ($3519)
License fees = ($200)
Supplies = ($5300)
Cell phone = ($588)
Meals = $3000*50% = ($1500)
Internet services = ($780)
Computing the income:
$102,480 - $46,000 - $3,519 - $200 - $5,300 - $588 - $1,500 - $780
= $44,593
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The element lanthanum has an isotope with an atomic mass of 138. 9 amu and an abundance of 99. 91%. A second isotope has an atomic mass of 137. 9 amu and an abundance of 0. 9%. What is the average atomic mass of lanthanum?.
If the element lanthanum has an isotope with an atomic mass of 138. 9 amu and an abundance of 99. 91%. A second isotope has an atomic mass of 137. 9 amu and an abundance of 0. 9%. the average atomic mass of lanthanum is 138.9 amu.
Average atomic mass of lanthanumUsing this formula to find the average atomic mass of lanthanum
X= f1m1 + f2m2
Where:
X = Average atomic mass
f = Atomic mass of the isotope
m = Natural abundance of the isotope in decimal
Now let plug in the formula
Average mass of lanthanum= ( 138.9 amu × 0.9991 ) + ( 137.9 amu × 0.0009)
Average mass of lanthanum = 138.77499 amu + 0.12411 amu
Average mass of lanthanum = 138.89 amu
Average mass of lanthanum = 138.9 (Approximately)
Therefore we can conclude that 138.9 amu is the average mass of lanthanum.
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The correct question is:
The element lanthanum has an isotope with an atomic mass of 138. 9 amu and an abundance of 99. 91%. A second isotope has an atomic mass of 137. 9 amu and an abundance of 0.09%. What is the average atomic mass of lanthanum?.
an accounting information system (ais) processes to provide users with . group of answer choices data; transactions information; data data; benefits data; information
To provide users with information, AIS processes data. Accounting Information System transforms data into something usable and relevant from the raw input, which is not much use to the users.
Explain about the Information?
Information about your business is data that is pertinent, valuable, or meaningful to it. Any materials that satisfy the requirements for being pertinent, valuable, or meaningful for your organization would be included, including reports, spreadsheets, metrics, regulatory reporting, web pages, documents, dashboards, etc.
Data helps business owners understand their consumers, predict client behavior patterns, spot trends, improve the quality of services they give, decrease expenses, develop new products, and more. This assistance extends from marketing and sales to HR and IT.
It is considered that accurate information helps decision-making, increases productivity, and gives the organization that has more knowledge than the competition a competitive edge.
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mai filed a sexual harassment complaint against her supervisor. afterward, she noticed that managers were treating her differently and putting increased pressure on her. eventually, the situation became intolerable for mai and she voluntarily resigned from the organization. what does this exemplify? disparate impact constructive discharge quid pro quo sexual harassment undue hardship
mai filed a sexual harassment complaint against her supervisor. It is likely that Mai experienced constructive discharge for alleging sexual harassment.
In general, the term "constructive discharge" refers to situations in which it may be determined that a worker's retirement or resignation was not voluntary because the employer forced them to do so by fostering a hostile or intolerable work environment or by using other forms of pressure or coercion.
According to a legal principle known as constructive discharge, employers are responsible for creating working conditions that are so unpleasant that an employee is compelled to quit. In assessing whether the employee may be entitled to additional compensation from their previous company, this doctrine can be crucial.
Yes, it can be challenging to demonstrate constructive discharge. The onus of proof is on the employee, who must provide specific evidence that the employer fostered a hostile work environment that resulted in or would result in their resignation.
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In order for the people to take a fresh look at its brand, the american red cross used a ________ strategy.
In order for the people to take a fresh look at its brand, the American red cross used a brand revitalization strategy
Define brand revitalization strategy.When a product enters the maturity stage of its life cycle and profits have significantly declined, a brand revitalization marketing plan is used. It is an effort to reintroduce the product to the market and protect the customers who are the sources of equity. In a cutthroat industry, brand rejuvenation aids in shattering stereotypes and luring in the intended clientele.
Brand revival is required to address specific problems that damage the company's reputation or frighten customers or employees. It is a marketing tactic that is typically employed when a product reaches the PLC maturity stage and profits begin to rapidly decline as the market becomes saturated. Compared to the introduction of a fully new brand or product, it is less expensive and hazardous.
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this year, jong paid $3,000 of interest on a qualified education loan. jong files married filing jointly and reports modified agi of $157,000. what is jong's deduction for interest expense on an educational loan?
If this year, jong paid $3,000 of interest on a qualified education loan. jong files married filing jointly and reports modified agi of $157,000. jong's deduction for interest expense on an educational loan is: $1,075.
What is educational loan?Educational loan can be defined as a a loan given to student that are unable to pay for the tuition fee in which the student is expected to pay back the loan at within a stipulated period of time.
First step is to find the 2019 phase-out percentage
2019 phase-out percentage = [$157,000 - $140,000] ÷ $30,000
2019 phase-out percentage = $17,000 ÷ $30,000
2019 phase-out percentage = 57%
Now let determine the deduction for interest expenses
= 57%; maximum = $2,500 × (1 − 57%)
= $2,500 × 43%
= $1,075
Therefore we can conclude that $1075 is the deduction for interest expenses.
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an policy that insures the title received by the grantee against deficiencies that may have been in existence at the time the title was transferred is known as
A title opinion is an insurance that protects the grantee's title against any potential flaws that may have existed at the time the title was transferred.
Write a note on title opinion.Title opinions are intended to positively guarantee two things with regard to commercial loans:
that an owner/borrower has good title to a property; and that the lender has a good and valid mortgage charging the property.It is necessary to hire a lawyer to analyze the property's title and to conduct (and review) in-depth research on the title as well as any off-title issues that might affect a lender's security position. The attorney will provide a "title opinion" after reviewing the document, supposing no serious flaws were discovered, which will affirm the guarantees mentioned above.
Unfortunately, title opinions are not infallible, which means that mistakes could occur. When a loan defaults after closing and an issue with the owner's title or the lender's mortgage occurs when the lender tries to enforce its security through the mortgage, the lender may turn to the attorney and ask that the issue be resolved. However, unless the issue can be resolved quickly, the lender and the lawyer may find themselves in a contentious situation. If this happens, the lender may need to file a lawsuit against their (now-former) lawyer in order to demonstrate negligence and recover any losses brought on by the error or omission on their part.
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The complete question is mentioned below :
A policy that insures the title received by the grantee against deficiencies that may have been in existence at the time the title was transferred is known as
a. real property insurance
b. title insurance
c. title opinion
d. deed insurance
Because this type of conflict is due to organizational design, adjusting the design often reduces or eliminates the conflict.
The type of conflict that is due to organizational design and in which adjusting the design often reduces or eliminates the conflict is: Structural Conflict.
What is structural conflict?Structural conflict is a kind of conflict situation that arises when there is an unequal distribution of power. This causes an imbalance that upsets the organization. It also often arises due to the way the organization is set up. This kind of conflict is often seen in the economy and in social and political settings. Structural conflict is a matter that stems from the design of the setup.
To correct such a conflict, the setup has to be adjusted so that all who are involved will be able to have relief from the underlying problems. Structural conflict can affect people's relationships with each other. It can also be a problem with the person who is given the task of making critical decisions in an establishment.
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the following expenditures relate to machinery purchased by callabasas manufacturing: purchase price$ 16,000 transportation costs800 installation500 testing2,000 repair of part broken during shipment300 at what amount should callabasas capitalize the machinery?
At $19,300 Callabasas should capitalize the machinery. All expenses incurred to bring an asset to a usable state are capitalized as part of the asset.
What percentage of the equipment's cost should be capitalized?
All expenses incurred to bring an asset to a usable state are capitalized as part of the asset. They include installation costs, labor charges if it needs to be built, transportation costs, and so on. Capitalized costs are initially recorded at their historical cost on the balance sheet.
amount to capitalize the machinery= purchase price+ transportation costs+ installation + testing
16000+800+500+200= $19,300
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barlow and rusia own a nail salon. a manicure takes barlow 60 minutes to complete and takes rusia 45 minutes to complete. completing a pedicure takes barlow 45 minutes and takes rusia 30 minutes. who has a comparative advantage in pedicures?
Rusia takes 45 minutes to complete a manicure and 30 minutes to complete a pedicure, so Rusia has a comparative advantage in pedicures.
Rusia has a lower opportunity cost.
The opportunity cost is a concept used in microeconomic theory to describe the value or benefit lost by choosing one activity over another. Simply defined, it implies that you lose out on the opportunity to engage in another activity if you choose one. When economists refer to a resource's "opportunity cost," they indicate the value of the next-highest alternative usage. For example, you cannot watch a movie and then read a book at home while spending the money you would have spent on the movie on something else.
Simply described, opportunity cost is what a business owner forfeits while deciding between two courses of action. It enables the measurement of each option's benefits and downsides, leading to more profitable overall decision-making.
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a marketing researcher at disney is trying to measure satisfaction with the different rides at disney. the marketing researcher is unsure that the visitors of the park have strong opinions about some of the satisfaction questions. this implies that the researcher should use a:
A marketing researcher at disney is trying to measure satisfaction with the different rides at disney. the marketing researcher is unsure that the visitors of the park have strong opinions about some of the satisfaction questions. This implies that the researcher should use a scale with a neutral point.
Researchers commonly paintings for academic establishments or for corporations. Researchers collect records for the duration of the assignment life cycle, examine the statistics and post the findings to resource new research, enhance scholarly literature and improve the choice-making technique.
A good researcher don't have any care of the approvals or disapprovals however doing his paintings with zeal and staying power to it. professional in difficulty. A researcher would be a great one if he has complete command over his concern. He makes using his theoretical look at in subject work without problems.
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The tire tread wears out in at least 60,000 miles. the tire company bought 48 tires and found out the average mile usage for 48 tires is 59,500. what hypothesis do we test to find out if the manufacturer claim is too optimistic and tires wear out before 60,000 miles?
Manufacturer's promise of 0.6928 is very optimistic, as tyres degrade before 60,000 miles.
Here, is the attached solution.
Since the typical automobile travels between 10,000 and 12,000 miles annually, used cars with annual averages below that can be regarded as having good mileage.
To get the car's yearly average, simply divide the odometer reading by the years the car has been on the road. However, a car's condition is also influenced by its make and model, history, and driving and maintenance practises. Due to the fact that older vehicles frequently start needing more expensive and frequent maintenance as mileage exceeds 100,000, this number is sometimes utilised as a cutoff point for used cars.
However, thanks to advancements in automotive technology, the majority of vehicles built in this millennium will continue to run well past the 100,000-mile mark. As a result, the answer ultimately depends on the general condition of the vehicle.
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when an engineer is asked to lead a sales team, the engineer has been assigned: group of answer choices a change goal. a professional development goal. a vertical stretch goal. a horizontal stretch goal.
When an engineer is asked to lead a sales team, the engineer has been assigned: a horizontal stretch goals.
Option D is correct.
Why are stretchable goals important?Meeting a stretch thing can enable a platoon to achieve results beyond their original pretensions and grow their company. Stretch goals can also encourage enthusiasm, provocation, productivity and invention. In some situations, a stretch thing is an voluntary redundant thing a company can work toward if they exceed their original thing.
What's vertical stretch goals?Vertical stretch pretensions align with current conditioning, organizational pretensions or business processes. They take these being conditioning to new heights. For illustration, setting a thing of achieving 110 target achievement, would be a perpendicular stretch thing because it builds on current conditioning.
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global outfitters outlet and holly, a consumer, enter into a contract for a sale of camping gear. if the contract includes a clause that is perceived as grossly unfair to holly, its enforcement may be challenged under
If the contract includes a clause that is perceived as grossly unfair to holly, its enforcement may be challenged under : The doctrine of unconscionability
What is a contract?A contract can be defined as a form of agreement enter into by two or more people in which the parties involve in the contract tend to agreed with the terms and condition of the contract.
A contract can tend to include a clause when the contract is unfair to one of the party involve in the contract, making it possible for the court of law to consider the contract as unconscionable which in turn implies that the court of law will not enforce the contract .
Therefore a contract that has a doctrine of unconscionability will be unenforceable.
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When a firm assembles product chunks provided by outside contractors, the firm is employing a ________ structure.
Employing a modular structure is what a company does when it assembles product pieces that are supplied by outside contractors.
What is modular structure?A large product (like a car) can be separated into smaller, simpler components that are separately developed and produced using the modular design approach.
Any structure created for human or animal habitation, whether or whether it is intended to be set on a permanent base, is considered a modular construction.
Modular structures include pre-fabricated dwellings, modular homes, factory-built buildings, and sub-assembly for constructed residential and commercial units.
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Which type of involvement has been found to enhance the adjustment of low-income students in their transition to middle school?.
Parental involvement has been found to enhance the adjustment of low-income students in their transition to middle school
What is the positive effect of parental involvement?Parent participation is the working together of the parents and the school to enhance the educational experience and academic success of the children. Numerous studies have revealed how crucial parental involvement in a child's education is to that child's academic achievement. Parental involvement enhances learning outside of the classroom, gives kids a better overall experience, and improves their academic performance. Parents must encourage their children's learning at home as well as in preschool settings. The degree of participation is essential in creating a significant impact on the student's performance. The more the parental involvement, the the higher the impact on the child's academic achievement.
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wafers lounge inc., a manufacturer of packaged foods, specializes in potato-based snacks and features ads that acknowledge the perception that potatoes are fattening. however, they subsequently present information that counters this belief. these ads are an example of
These ads that wafers lounge inc produce are an example of a C. refutational appeal.
We can describe a refutational appeal as a kind of appeal in which an opposite point of view is expressed and then efforts are made to refute that claim.
In the case above, wafers lounge acknowledges the feature ads that show the perception that potatoes are also. But it also presents information in the ad that counters this perception. Hence, wafers lounge is using the refutational appeal strategy to lure customers to buy their products.
Although a part of your question is missing, you might be referring to this question:
Wafers lounge inc., a manufacturer of packaged foods, specializes in potato-based snacks and features ads that acknowledge the perception that potatoes are fattening. however, they subsequently present information that counters this belief. These ads are an example of
A.conclusion drawing.
B.a fear appeal.
C.a refutational appeal.
D.a humorous appeal.
E.an affective conclusion.
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a large grocery store chain insists that its suppliers stop packaging their bagels in plastic wrap, and they comply. this is an example of blank . multiple choice question. direct store delivery marketing through a fulfillment center power within a marketing channel a short supply chain
This is an example of Power within a marketing channel
Generally, channel power is associated with the special ability/power of a channel that allows them to alter or modify the behavior of the distribution channels because of its stronghold or position in the market. This gives them the power to control the channel.
If a large grocery store chain insists its suppliers stop packaging the bagels in plastic wrap and follow the instructions this is due to the power that the grocery store holds in the market which allows it to get a stronghold in the marketing channel.
Hence, this is an example of reflecting the power within a marketing channel.
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live forever life insurance company is selling a perpetuity contract that pays $1,150 monthly. the contract currently sells for $72,000. a. what is the monthly return on this investment vehicle?
The monthly return on this investment vehicle will be 1.14%
What is monthly return ?
Period returns are scaled down to a period of 1 month to provide monthly returns. Investors can now compare the returns of various assets that they have owned for various amounts of time. (Closing Price on Last Day of Month / Closing Price on Last Day of Previous Month) - 1 is the formula for monthly return.
Why are monthly returns important?
The importance of monthly returns
The MFB may ensure that its accounting records are consistently kept up to date and that any unbalanced or unreconciled issues are promptly resolved by preparing returns on a monthly basis.
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A focus group was formed to provide opinions for a target market.what type of data is being collected from the focus group ?
The type of data that is being collected from the focus group is a: primary data.
The types of data.Generally speaking, there are two (2) main types of data and these include:
Primary dataSecondary dataWhat is a primary data?A primary data simply refers to a type of data or information which typically comprises only raw information that are first-hand and original in nature. This ultimately implies that, a primary data describes a personal experience, opinion, or witness of an event (occurrence).
In conclusion, some example of primary data sources include the following;
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carolyn has an agi of $38,300 (all from earned income) and two qualifying children and is filing as a head of household. what amount of earned income credit is she entitled to?
Based on Carolyn's AGI, her filing as head of household, and her two qualifying children, the amount of earned income credit that she can get is $1,833.
How to find the earned income credit?The earned income credit that a person is entitled to can be found by the formula:
= Credit - Credit phase out over $19,030
The Credit can be calculated by the formula:
= Credit percentage x Maximum earned income eligible for credit for 2 qualifying income
= 40% x 14,570
= $5,828
The Credit phase out over $19,030 is:
= 21.06% x (AGI - $19,030)
= 21.06 x (38,300 - 19,030)
= $3,955
The earned income credit is:
= 5,828 - 3,955
= $1,833
In conclusion, the amount in earned income credit that Carolyn would is entitled to based on her AGI and her number of qualifying children is $1,833.
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the file smartphone contains data on the monthly sales revenue for a smartphone manufacturer. click on the datafile logo to reference the data. create line charts to depict the sales time series at the annual level, the quarterly level, and the monthly level. what insight do each of these three views provide?
When data needs to be transformed to match the target system's requirements, data transformation is utilised.
Data transformation, in computing, is the process of changing data from one format or structure into another format or structure so that it may be used, cleaned up, and organised into a format that can be analysed to assist decision-making processes and to fuel the growth of a business. It is a crucial component of the majority of data management and integration jobs, including application integration, data wrangling, data warehousing, and data integration.
Depending on the required modifications to the data between the source (initial data) and the destination (final data), data transformation can be straightforward or difficult. The process of transforming data typically involves both manual and automated steps.
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et the slack variables for the respective constraints be denoted by x4 and x5. the simplex tableau below shows the current basic solution: zx1 x2 x3 x4 x5 rhs z1 -1 -1 x1 0 1 -1 x3 0 -3 4 (a) (10 pts) determine the values of the missing entries without solving the problem from the beginning. (b) (5 pts) is the tableau optimal? if so, is the optimal solution unique? why?
An intersection of constraints, in this case one of the five corners of the feasible polygon, is where an exclusive optimal solution is discovered. The symbol x* denotes the best answer. A polytope, or polygon in higher-dimensional space, is what the linear equality constraints' definition of the viable set calls for.
Explain about the optimal solution unique?
An exclusive optimal solution is found at the intersection of the constraints, in this instance one of the five corners of the feasible polygon. The top response is indicated by the symbol x*. The definition of the viable set under the linear equality requirements requires for a polytope, or polygon in higher-dimensional space.
An acceptable solution where the objective function reaches its highest (or minimum) value, such as the most profit or the lowest cost, is referred to as an optimal solution. When there are no other practical solutions with superior objective function values, the solution is said to be globally optimal.
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clm is a leading cable operator. the company has recently declared bankruptcy and it needs to restructure its processes to attain more flexibility and allow it to raise capital. since clm has identified its need for strategic change, what would be clm's next step in the strategy-making process?
The next step in the strategy-making process in conducting a situation analysis.
Benefits are additional income outside of salary as assistance from the company, institution, or institution where you work. Generally, the benefits are combined with the monthly salary.
This additional is money that is given or allocated regularly for certain purposes. Details of the type and amount are usually listed in detail on the salary slip or income report from the company or employer institution. Companies that provide benefits to their employees must have a specific purpose. Because benefits have benefits that can affect employees and the company. The objectives and benefits of providing allowances include:
Increase employee productivitySupport the company's business processesRetaining quality employeesMaintain employee mental healthTo attract new job applicantsYou can learn more about Benefits here brainly.com/question/13514200
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Miles is planning to open a credit card, charge only his monthly
streaming service subscriptions (less than $50 per month), and pay his
entire bill in full each month so that he never has to pay interest. Which
of these factors do you think is most important for Miles to consider
when selecting a card? Why?
Answer:Miles is planning to open a credit card, charge only his monthly
Explanation:
streaming service subscriptions (less than $50 per month), and pay his
entire bill in full each month so that he never has to pay interest. Which
of these factors do you think is most important for Miles to consider
when selecting a card? Why?
The most important factor that Miles has to first consider on the credit card that he is to choose would be to interest rates that would be paid on the card annually.
What is a credit card?The term credit card has to do with the plastic card that would be issued to a user that has to do with the line of credit with which they would be able to make purchases and get goods and services from.
It helps one to be able to make purchases due to the fact that they have a good credit score.
In order to get a credit card one has to check to be able to ascertain the card that has the best rates. This is what would make the fee that they are to pay for the ownership of the card to be cheaper compared to when it has a higher interest rate of payment.
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a country purchases $3 billion of foreign-produced goods and services and sells $2 billion of domestically produced goods and services to foreign countries. it has exports of
A nation spends $3 billion on imported goods and services and $2 billion on exports of goods and services produced domestically. $2 billion worth of exports are made, but there is a $1 billion trade deficit.
Exports are goods and services produced in one country but sold to buyers in another. Exports and imports comprise international trade.
The country that manufactures and sells a product is known as the exporter, and the products that it sends to other countries are known as exports. In contrast, the country that purchases and receives the products is known as the importer, and the products are referred to as imports. Exports are critical to the economy of any country.
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if a grievance is not settled by arbitration, the grievance procedure requires the grievant to file the grievance with a district court, who has the final word on the decision. question 19 options: true false
If a grievance is not settled by arbitration, the grievance procedure requires the grievant to file the grievance with a district court, who has the final word on the decision. is a False statement because Arbitration is the last step in the grievance procedure.
How are complaints settled?
Complaint method, in modern relations, process through which conflicts between individual laborers and the board might be settled. Common complaints might incorporate the advancement of one laborer over another who has status, arguments about occasion pay, and issues connected with specialist discipline.
What is the last move toward the complaint cycle on the off chance that it Can't be settled inside?
On the off chance that the complaint stays unsettled through the most elevated levels of the board inside the organization, numerous methods incorporate an arrangement by which an external referee might be brought in to determine the issue. Senior pioneers from the two sides are commonly associated with the discretion interaction.
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assume you have an offer from the dealer to trade in your used vehicle for $20,000 and another offer from a friend for $21,000. also assume that you live in seminole county where there is a 7% sales tax. the dealer will offset the trade in value against your new car purchase price reducing the amount of sales tax you will pay. if you sell the car to a friend, there is no sales tax offset. which is the better deal?
The better deal will be to trade with third party at $20,000, because that will lead to a reduction in sales tax that we will be paying.
Calculation:
Trading with friend = $21000
Sales tax to be paid = $21,000*7% = $1470
Trading with 3rd party = $20,000
Sales tax = $20,000*7% = 14000
and this sales tax will get reduced when we will new car, hence dealing with third party is much better idea.
A sales tax is a fee that is paid to the government when particular goods and services are sold. Typically, laws permit the vendor to charge the customer the tax at the time of purchase. Use taxes are generally used to indicate taxes on goods and services that customers pay directly to a governing authority.
The complete question is here:
Assume you have an offer from the dealer to trade in your used vehicle for $20,000 and another offer from a friend for $21,000. Also assume that you live in Seminole County where there is a 7% sales tax.
The dealer will offset the trade in value against your new car purchase price reducing the amount of sales tax you will pay. If you sell the car to a friend, there is no sales tax offset.
Which is the better deal?
Group of answer choices
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suppose a resource has setup times and a setup time must be incurred each time the resource switches production to a different product. requiring the resource to make a new product (that requires its own setup) is likely to have what effect on the process?
Although the process must now carry an inventory of the new product, the inventory for the existing goods stays unchanged. It is expected that inventories of all products will rise.
Work in the process, also referred to as products-in-process, is the process through which raw materials are converted into finished commodities. JIT manufacturing is a production strategy in which products are produced only as needed rather than in excess or before demand. JIT is a strategy that businesses use to boost productivity, cut costs, and accelerate product delivery.
This enables your management to concentrate on streamlining procedures and creating top-notch products. Less defective, higher-quality items increase customer satisfaction and cut down on waste.
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with one input fixed, a firm will find that as it attempts to produce more, the total product curve will increase at a decreasing rate and its marginal product curve will be:
A company will discover that, given a fixed input, when it makes an effort to create more, its marginal product curve will be downward-sloping and the total product curve will increase at a decreasing pace.
Explain about the Downward sloping?
Demand curves have a downward slope because consumers' desires to buy a product are supported by their ability to pay for it and their willingness to do so. According to the law of demand, there is an inversely proportionate relationship between a commodity's price and its demand.
The price that the monopolist may obtain for each new unit of output must decrease as the monopolist raises its output because the monopolist faces the downward-sloping market demand curve.
Negative slopes apply to downward-sloping straight lines as well as downward-sloping curves. Although all of the slopes along these two curves will be negative, we are aware that the slope varies from point to point on a curve.
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the toso company uses the retail inventory method. the following information is available for the year ended december 31, 2024: costretail inventory 1/1/2024$ 390,000$ 650,000 net purchases for the year1,402,0001,835,000 net markups 75,000 net markdowns 45,000 net sales 1,845,000 applying the conventional retail inventory method, toso's inventory at december 31, 2024, is estimated at:
A sort of inventory estimating approach is the retail inventory method. The retailer employs this technique to calculate both the cost of terminating inventory and the cost of products sold. The retailer keeps track of the products they sell and buy at retail prices.
b. $469,000 . Retail ending inventory: $670,000 Beginning inventory costs $650,000, followed by net purchases of $1,835,000, net markups of $75,000, net markdowns of $45,000, and net sales of $1,845,000.
70% cost ratio (Beginning inventory of $390,000 + net purchases of $1,402,000) $650,000 in initial inventory plus $1,835,000 in net acquisitions plus $75,000 in net markups equals [$650,000]. ending stock at cost: $70,000 multiplied by 70%
Therefore, the merchant can use this inventory approach to calculate the net profit or loss from transactions that were made during the period.
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