Answer:
Hello your question is incomplete below is the complete question
Jim Connor is the owner of Wave Riders, a surf shop located in West Palm Beach, Florida. Jim has just received his end of the year financial statements from his accountant. When he sees his gross and net income he is dismayed. With almost $250,000 in gross profit he just doesn’t understand why he is always short on cash to pay his employees and suppliers. One of his largest suppliers of surf boards notified him just last month that they would no longer extend him credit and he would have to pre-pay all of his orders. He puts a call into his accountant to set up a meeting with her to discuss the financial health of his business
Average inventory turnover ratio : Wave riders = 2.5 , Industry = 6.85 ( as calculated )
answer: The recommendations that should be made to Jim to help him improve the company's financial performance is, Jim should work on selling off his old inventories before ordering more
Explanation:
The recommendations that should be made to Jim to help him improve the company's financial performance is, Jim should work on selling off his old inventories before ordering more, this is because The Average inventory turnover ratio for Waveriders is lower than the Industry's Average inventory turnover ratio. and this is caused by inadequate inventory management ( overstocking or low sales ) and this is affecting The financials of Waveriders
Answer:
Without cafeteria plan Karen taxable income is 2250 dollars and with cafeteria plan the taxable income is $2135.
Without cafeteria plan Katie taxable income is 2075 dollars and with cafeteria plan the taxable income is $1960.
Explanation:
A married women Karen earns = $2250
Katie single women earn = $2075
Employee contribution to health care = $115
If the Karen decline to participate in the cafeteria then her taxable income is $2250 (wages).
If the Karen accept to participate in the cafeteria then her taxable income is $2250 - $115 (contribution) = $2135
If Katie declined to participate in the cafeteria then her taxable income is $2075 (wages).
If Katie accept to participate in the cafeteria then her taxable income is $2075 - $115 (contribution) = $1960
<span>The value of $70.00 invested each year for five years, at an annual interest rate of 3% is as follows, and assumes the interest is left in the account at the end of each year.
Principal Interest balance at end of year
Year 1 $ 70.00 $ 2.10 $ 72.10
Year 2 $142.10 $ 4.20 $146.30
Year 3 $216.30 $ 6.49 $222.79
Year 4 $292.79 $ 8.79 $301.58
Year 5 $371.58 $11.14 $382.72 - final value at the end of five years</span>
Answer and Explanation:
An agency has the power to execute the law and to bring proceedings against violators. This may be accomplished with no significant constitutional limitations on how the agency is to conduct its investigation of infractions. A search warrant is never required for subject matter observed from a public place; therefore, aerial photography of Williams' place of business can be used by the FTC as proof of wrongdoing. The FTC may also demand the production of relevant papers and documents by Williams, since the constitutional guarantee against unreasonable searches and seizures does not afford much protection with regard to papers and records being investigated by an agency. Lastly, Williams has no right to a jury trial in an administrative hearing.
Answer:
Answer for the question:
On January 1, 2018, Ameen Company purchased major pieces of manufacturing equipment for a total of $54 million. Ameen uses straight-line depreciation for financial statement reporting and deducted 100% of the equipment’s cost for income tax reporting in 2018. At December 31, 2020, the book value of the equipment was $48 million. At December 31, 2021, the book value of the equipment was $40 million. There were no other temporary differences and no permanent differences. Pretax accounting income for 2021 was $68 million. Required: 1. Prepare the appropriate journal entry to record Ameen’s 2021 income taxes. Assume an income tax rate of 25%. 2. What is Ameen’s 2021 net income?
Is given in the attachment.
Explanation:
