Answer: None
Explanation: The IRS commuting rule allows for business travel expenses to be deducted as business expenses but this does not apply to commuting expenses.
Business travel expenses include Judi driving the company car to customer's locations or using any other form of transportation to meet a client. It even covers travelling by plane to another state for the same purpose.
It however does not apply to travelling between home and work, this is a daily travel expense as you need to get to work anyway.
Answer:
The entries are as follows
To record estimated returns on Sales
Debit: Sales Refund Payable Account $131,400
Credit: Accounts Receivables $131,400
To record estimated Cost of Sales returns
Debit: Inventory Returns Estimated Account $77,700
Credit: Inventory on Sales on Returns $77,700
Explanation:
To derive the figure for Sales Refund payable for the year
6% of $2,190,000
= 
= $131,400
To derive the figure for Inventory cost on Sales Refund payable for the year
6% of $1,295,000
= 
= $77,700
Answer:The extra cost is$ 0.72
Explanation:
Using the formula √2DCO/CC
Where CO = ordering cost per order
D = Demand per annum
CC = carrying cost or holding cost per annum
Demand = 1000*52 = 52,000 per annum
ordering cost = $15 per order
Holding Cost = 15/100*52,000 = 7,800 per annum
√2DCO/CC
√2*15*52,000/7,800
√1,560,000/7,800
√200
= $14.14
Extra Cost wiil be
900*52 = 46,800 per annum
√2*15* 46,800/7,800
√1,404,000/7,800
√180
13.42
Therefore the extra cost is
14.14 - 13.42
= $0.72
Answer:
Participate in professional development opportunities a financial conference taking place next month covering new financial and bookkeeping regulations.
Explanation:
Accounting/Book keeping as a profession requires that a professional keeps updating his knowledge as new financial regulations comes up. She needs to have detailed knowledge of the new regulations since she provides professional services. Since this new regulation will affect how business is done with her client, the best decision is for her to update her knowledge on the subject by taking a course that seeks to explore what this new regulations connotes.
Answer:
If Victoria purchases insurance, she will have (4000-1200) = $2800 for consumption. Now even if she has an accident, she will not have to incur any medical costs.
So the expected value of Victoria’s consumption should she purchase the insurance cover is $2800.
Expected utility should Victoria purchase insurance will be equal to the total utility as Victoria will surely have 3100 for consumption.
E(U )= 
E(U) = 621 (rounded off to nearest integer)
