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1 year ago

Oliver owns Wifit, an unincorporated sports store. In 2019, Wifit earned $100,000 before Oliver drew out a salary of $60,000.

Business

1 answer:

oksano4ka [1.4K]1 year ago

8 0

Answer:

c. $7,650

Explanation:

As IRS regulate, the self-employment tax is 15.3% charged on business profit, but the IRS let the employer count half of tax, or 7.65%, as a business deduction for purposes of calculating the tax.

So in this case, Oliver’s 2019 deduction for self-employment taxes is $7,650 = $100,000 x 7.65%

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Navim Jain sold stock to investors in order to finance Sparkart, LLC, a company that markets software to track how many times mu

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Answer:

Equity financing

Explanation:

Equity financing is the kind of financing, which involves or comprise of a procedure for raising the capital or funds by the sale of the shares. The companies raise the money because they have a short term need in order to pay the bills or might have a objective and needs the funds or money to invest for the purpose of growth.

So, in short, it is a form or kind of financing which comprise of raising the funds or money by selling the shares or stock in a business.

Under this case, the Navim used the equity financing as he sold the stock of the company to investors in order to finance.

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1 year ago

Champion manufactures winter fleece jackets for sale in the United States. Demand for jackets during the season is normally dist

m_a_m_a [10]

Answer:

The question puts

Mean demand to be 20000

Standard deviation to be 10000

Storage cost = 60-30= 30

Excess cost to be 30+5-25 = 10

For shipping to south america

Excess cost = 30+5+5-35 = 5 dollars

It is of more benefits to ship to south america because we have an excess cost of 5 dollars and excess clearance cost of 10 dollars

Production and profitability are high for south america. Please check attachment for the calculations I added

Number of units

27142-20000

= 7142 units.

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1 year ago

A manufacturer reports the information below for three recent years. Year 1 Year 2 Year 3 Variable costing income $ 120,500 $ 12

vesna_86 [32]

Answer:

Absorption income 114, 610 127,500 127,320

Explanation:

Year 1 Year 2 Year 3

Beginning finished

Goods inventory (units) 0 1,550 1,050

Ending finished

Goods inventory (units) 1,550 1,050 1,150

Change in Inventory 1550 500 100

Fixed manufacturing

Overhead per unit $ 3.80 $ 3.80 $ 3.80

Absorption Income Less

Variable Income $ 5890 ($ 1900) $ 380

Variable costing income $ 120,500 $ 125,600 $ 127,700

Difference $ 5890 ( $ 1900 ) $ 380

Absorption income 114, 610 127,500 127,320

When inventory increases or decreases income differs under absorption and variable costing and is calculated by the following formula

Difference in fixed expense overhead expensed under absorption and variable costing = Change in inventory units * Predetermined overhead rate

When the inventory units increase the fixed manufacturing overhead cost is released from inventory and deducted from variable income.

Similarly when the inventory units decrease the the fixed manufacturing overhead cost is deferred from inventory and added to variable income.

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2 years ago

On July 1, 2015, ABC company filed its Articles of Incorporation with the State of California. All of their correspondence and c

attashe74 [19]

Answer:

Explanation:

When ABC company filed its Articles of Incorporation with the State of California and All of their correspondence and contracts list ABC as ABC Inc. They are already tagged as a corporation with limited liability.

Now; when there is a breach of contract and they are being sued by XYZ Inc. From the knowledge that XYZ file the lawsuit case against ABC, the ABC company will then be treated as a partnership acquainted with unlimited liability instead of a corporation with limited liability they are being known for since they already had a notice from the State of California that their Articles of Incorporation have been rejected.

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1 year ago

Provide an argument of why an organization should design and implement a Benefits Plan that complements its overall corporate vi

Katyanochek1 [597]

Explanation:

A corporate benefits plan is used as a relevant tool for the company to prepare for business and organize itself more strategically in the market.

For example, an employee benefit plan can offer several additional advantages that justify the company's mission and values of exercising corporate governance that prioritize the well-being of its employees. By offering advantages such as a health plan, the company consequently increases the incentive to work, motivates employees and becomes an attractive strategy for attracting good professionals in the market.

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2 years ago