Answer:
Homestead exemption of $25,000, which is a standard deduction
Explanation:
Homestead exemption is the regime which is legal in order to protect the home values of the residents from the creditors, property taxes and the situations arise from the death of the spouse.
In this case, Emma, is a widow and only has a fixed income of $11,000 per year, therefore, the exemption of the homestead allows a standard deduction of $25,000.
Answer:
Please find the income statement below;
Explanation:
<u>Single step Income statement</u>
Revenues
Net sales 2,419,200
Interest revenue 39,300
<em>Total revenues 2,458,500</em>
Expenses
Cost of goods sold 1,464,600
Admin. expenses 216,400
Selling expenses 294,800
Interest expense 46,000
<em>Total expenses 2,021,800</em>
<em><u>Net Income </u></em><em> </em><u><em>436,700</em></u>
Answer:
The correct answer would be Command Economic System.
Explanation:
Economic systems define the control of the government on the economic resources and the institutions of the country. There are four major economic systems. One is Traditional Economic System, other is Command Economic System, third one is Market Economic System and the fourth one is Mixed Economic System.
Command Economic System is an economic system in which the central powers are with the government. Government regulate the decisions of economy as well as of the institutions. In this type of economy, the government dictates the companies to do whatever the government says and thinks is the best for the country's economy.
So in this question, government thinks that the best way to overcome the trade deficit is to increase the exports of the Sedan cars at a competitive price in the international market without seeking any advice from the automobile manufacturers. This type of economic system is called the Command Economic System.
Answer:
Mentoring Plan.
Explanation:
This is a form of a continuous schooling process that is more of ‘giving advice’, or passing on what your experience was in a particular area or situation.
It is a system of semi structured guidance whereby one person shares their knowledge, skills and experience to assist others to progress in their own lives and careers. Mentors need to be readily accessible and prepared to offer help as the need arises within agreed bounds.
Mentors very often have their own mentors, and in turn their mentees might wish to ‘put something back’ and become mentors themselves - it's a chain for ‘passing on’ good practice so that the benefits can be widely spread.
Answer: $67,600 and $2600
Explanation:
Total unit = 13,000
Defective unit cost = $5.20
Resale price = $3.00
Reworked = $5.00
Full price = $8.20
Opportunity cost
= Full price - replacement unit
= 8.20 - 5.20
= 3.00
= . Cost of reselling
= 13,000 × 3.00
= $39,000
1. Cost of defective units
= 13,000 × 5.20
= $67,600
2. Cost of reworked
= $5.00 × 13,000
= $65,000
3. Full price
= 13,000 × $8.20
= $106,600
B. Incremental income of selling the unit as scrap and reworked
Scarp = $67, 600
Reworked = $(106600 -39, 000- 65,000)
= $2600
