Satish, age 11, is a dependent of his parents. His only source of income in 2018 is $8,000 of interest income on bonds given him by his grandparents, resulting in taxable income of $6,950. Under kiddie tax rules, calculation of tax requires dividing taxable income between net unearned income and earned taxable income. Satish's taxable income will be divided as follows:
A. net unearned income -$8,000 and earned taxable income -$1,050.
B. net unearned income -$0 and earned taxable income -$6,950.
C. net unearned income -$6,950 and earned taxable income -$0.
D. net unearned income -$5,900 and earned taxable income -$1,050.
Answer: D
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Delectable Foods produces a gourmet condiment that sells for $20 per unit. Variable cost is $8 per unit, and fixed costs are $5000 per month. If Delectable expects to sell 1500 units, compute the margin of safety in dollars. (Round any intermediate calculations to the nearest whole unit, and your final answer to the nearest dollar.)
A) $21,660 B) $1083 C) $5000 D) $8664
What factor is not LIKELY responsible for Apple's decision to set up mobile phone manufacturing facilities in India?
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During which phase of the CPFR are goods produced, stocked, shipped, and delivered to meet demand?
a. analysis b. strategy and planning c. execution d. demand and supply management
During the current accounting period, revenue from credit sales is $536,800. The Accounts Receivable balance is $41,184 at the beginning of the period and $41,760 at the end of the period. Which of the following statements is correct?
A. The receivables turnover ratio is 28.3. B. On average, the company sells its inventory every 28.3 days. C. The receivables turnover ratio is 12.9. D. On average, it takes 12.9 days to collect payment from credit customers.