Here are some potential obstacles in digital marketing and solutions to overcome. Determine who your target market is. Create a wonderful website, write excellent content, promote it, boost sales, and attract new leads, enhancement for mobile.
Digital marketing promotes goods and services by utilizing the Internet, other online-based digital technologies, such as desktop and mobile computers, as well as other digital media and platforms. In the 1990s and 2000s, it altered how companies and brands used technology for marketing. There are currently a lot of digital marketing campaigns due to the increased use of digital devices by consumers in place of physical stores as well as the integration of digital platforms into daily life and marketing strategies. SEO, SEM, content marketing, influencer marketing, campaign marketing, data-driven marketing, e-commerce marketing, social media marketing, and social media advertising are widely used in these endeavors.
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An architect’s functions may include which of the following? (SELECT ALL THAT APPLY.)
-planning and designing houses, commercial buildings, and other structures
-ensuring worksite safety
-collaborating with engineers
-acting as a construction manager and supervising contractors
Answer:
the answer is planning, ensuring, and acting
What did the British East India Company import?
Black pepper is imported by the British East India Company. In the first century of business, the British East India Company increased its economic clout in the Far East.
On the beginning, there was a learning curve: after the first 16-month round voyage from the Spice Islands (modern Indonesia), the company imported so much black pepper that the surplus in the market pushed prices lower. English and then British joint-stock corporation The East India Company (EIC) was established in 1600 and shut down in 1874. It was created to facilitate trade in the Indian Ocean region, first with the East Indies (the Indian subcontinent and Southeast Asia), then with East Asia.
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the revolution in management that is currently under way suggests that the most effective managers of the future will
The current management revolution suggests that the most effective future managers will need to "be skilled communicators and team players."
This is because, unlike in the past, when employees tend to follow the manager's instructions to the letter without questions, many employees today tend to speak back or ask more questions.
Also, coupled with the fact that many today's employees prefer working without strict supervision, the tendency for conflicts to occur increases, and the need for motivation becomes significant.
Hence, in this case, it is concluded that future managers would need to be good communicators and team players, not just among the executives but also among the lower employees.
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question 1 when you review a job listing, which section offers the most insight when deciding if the role is well-suited for you?
When you review a job listing, job description section offers the most insight when deciding if the role is well-suited for you.
The duties, responsibilities, activities, and functions of a position are described in a job description, which is a helpful document written in simple language. It specifies who does particular types of work, how that work is to be performed, how frequently the work is to be done, and its purpose in relation to the mission and goals of the company.
Clarify, straightforward, and explicit job titles are preferred. Use an intriguing company description example to pique the interest of potential candidates. Give some illustrations of the tasks and obligations you must perform. Give instances of prior employment that might be beneficial for the position.
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suppose you bought a put option with a strike price of $35 for $4. what would be your payoff if the underlying stock is worth $48 at option expiration? (payoff, not profit)
The striking price, which establishes the price at which the option holder can buy or sell the underlying securities, is a crucial component of call and put options.
There are various options listed with strike prices above and below the current market value. Let's say that the share price of a stock is $100. The holder of the call option with a strike price of $110 would be entitled to purchase the shares at that price on or before the contract's expiration date. In other words, if the stock price drops, the option would be worth less, and if the price of the underlying stock rises, it would be worth more. The call will expire worthless if the price never rises beyond $110 before the expiration date, though. Considering that you might purchase the shares.
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The profits walmart sends back to the united states from its stores in mexico is?
The profits that Walmart sends back to the United States from its stores in Mexico are the financial gains made by the company in Mexico that are repatriated or transferred back to its headquarters or parent company in the United States.
There are several ways that Walmart generates profits from its stores in Mexico. One of the primary sources of revenue is through the sale of goods and services to customers in Mexico. When customers purchase products from Walmart stores in Mexico, the company earns revenue. After deducting expenses such as operating costs and taxes, the remaining amount represents the profit generated by these stores.
Once the profits are generated, Walmart has the option to retain these funds in Mexico for reinvestment or to repatriate them back to the United States. The decision to repatriate profits is typically influenced by factors such as tax considerations, financial strategies, and the company's overall business objectives.
When Walmart repatriates profits from its stores in Mexico to the United States, it is essentially transferring the funds back to its headquarters or parent company. These repatriated profits contribute to the overall financial performance of Walmart in the United States.
It's important to note that the exact amount of profits Walmart sends back to the United States from its stores in Mexico can vary and is influenced by various factors, including the performance of individual stores, currency exchange rates, and taxation policies in both countries.
Overall, the profits that Walmart sends back to the United States from its stores in Mexico represent the financial gains made by the company in Mexico that are repatriated to its headquarters or parent company in the United States. These profits contribute to Walmart's overall financial performance and help support its operations and growth in the United States.
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if nominal gdp increases by 6% to $15,000, and the price level increases from 145 to 150, what is the current level of real gdp? if necessary, round your answer to the nearest hundredth.
$1,050 is the real GDP in 2 years.
The real GDP is the inflation-adjusted worth of products and services generated by labor & property in the United States.
The definition of normal GDP is Real GDP x Price level = Nominal GDP. Using the second property of growth rates,
The nominal GDP growth rate = the real GDP growth rate+ the price level growth rate.
Real GDP growth rate = nominal GDP growth rate - price level growth rate Real GDP growth rate
= 7% - 2% = 5%
The growth rate is the percentage difference between years 1 and 2: 5% = (year 2 real GDP - 1,000)/1,000
= $1,050
hence, Year 2 real GDP is $1,050
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The costs per equivalent unit of direct materials and conversion in the rolling department of oak ridge steel company are 180 and 62
Answer:
Equivalent units of direct materials= $180 per tons
Equivalent units of conversion =$62 per tons
Explanation:
Calculation to Determine the direct materials and conversion costs per equivalent unit.
Using this formula
Equivalent units of direct materials=Cost of direct materials transferred/Total equivalent units for direct materials
Let plug in the formula
Equivalent units of direct materials= $432,000/2,400
Equivalent units of direct materials= $180 per tons
Therefore the direct materials cost per equivalent unit will be $180 per tons.
Calculation for Equivalent units of conversion using this formula
Equivalent units of conversion=Conversion cost /Total equivalent units for Conversion
Let plug in the formula
Equivalent units of conversion=$144,150/2,325
Equivalent units of conversion= $62 per tons
Therefore the conversion cost per equivalent unit will be $62 per tons.
The manager of a clothing store in the mall has hired five new employees for the summer. All of them have just graduated from high school and will only work the three summer months before leaving for college. After the initial week of training, the manager continues to scrutinize and direct them in every detail of their job. Each time they make a mistake they are reprimanded, told their pay may be docked, and reminded that there are always other people who will gladly take their place. This manager is using the approach to management known as:
Answer:
Theory X
Explanation:
It is correct to say that this manager is using the management approach known as theory X, which is a philosophy that says employees work only for the benefits they receive, and that they avoid job responsibilities, so management must be inflexible and follow the hierarchy of functions, with the manager being responsible for a high degree of supervision of the work and the responsibility of the employee for any error.
Theory X may not be ideal for the current administration, where the focus of organizations are people and the formation of a culture focused on innovation and collaboration.
Who may be affected by monetary penalties imposed by the Internal Revenue Service when a Tax Professional fails to meet due diligence requirements?
Answer:
Both the tax practioner and the assessee will be liable for penalties under IRS 6695(a)
Explanation:
When a tax preparer is paid to arrange the tax return of a client they must follow preparer due diligence laws.
This is the case when the preparer is trying to get a refund of earned income tax credit, child tax credit, American opportunity tax credit, or filing of head of household status.
The effect on the tax preparer's client include:
- refund of amounts collected in error because of wrong return
- a two year ban from claiming credits if error is due to recklessness
- a ten year ban if error is as a result of fraud
The consequences for the tax preparer includes:
- for each requirement not met a $500 penalty
- suspension from the IRS e-file
- a ban from tax preparations
- in cases of fraud criminal charges can be made
Helen inherited some money from her grandmother. She decided to open a coffee shop. She explored the main market area near her house to scope out the competition. The competitors were all famous branded coffee houses. They heavily advertised their coffee and had a lot of brand awareness among the customers. They sold their coffee at a low price, because they could divide the cost of operations over a large number of sales. There was an area near a business center that seemed distant from these branded coffee houses. She decided to rent this location for her shop. She realized that she would also need to serve coffee that at least equalled the standards of the branded coffee houses.
Answer:
Helen decided to rent her shop in this location.
Explanation:
Helen choose to rent her shop in the location where there are many competitors. The competitors are well established branded coffee houses who serve coffee to their customers at very low price. In this situation customers will not move to any new coffee house. So Helen decided differentiating her coffee shop from other coffee houses and she decided to open a coffee shop where there are less or no competitors available.
disintermediation has which of the following effects?it reduces the cost of advertising.it reduces the ties between consumers and businesses.it has no impact.it increases costs of manufacturing.it lowers costs to the consumer.
Disintermediation refers to the process of eliminating intermediaries between producers and consumers in a supply chain, such as wholesalers, distributors, or retailers.
This process can have several effects, including:
It reduces the ties between consumers and businesses: Disintermediation allows producers to sell their products or services directly to consumers, bypassing traditional intermediaries. As a result, the relationship between businesses and consumers can become more direct and less reliant on middlemen.It lowers costs to the consumer: By eliminating intermediaries, disintermediation can reduce the cost of goods or services to consumers. This is because the cost savings that result from cutting out intermediaries can be passed on to customers in the form of lower prices.It has no impact: In some cases, disintermediation may not have any significant impact on the cost or relationship between businesses and consumers, particularly if intermediaries provide value-added services that cannot be easily replicated by producers.Therefore, disintermediation can reduce ties between consumers and businesses, lower costs to the consumer, and may have no impact on advertising or manufacturing costs.
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A news headline reads, "Time for change: let free market forces determine the money supply." Which statement offers a valid claim in direct opposition to this headline?
Congress is essential to a stable money supply, as it controls fiscal policy and the federal budget.
Congress should lose its role in fiscal policy, as it often fails to control the money supply.
The Fed should be controlled by the people, as money supply changes should be publicly voted upon.
The Fed is essential to a stable economy, as an unregulated money supply can spike inflation.
Option C. The solution that would tell us the valid claim based on the money supply in the economy is that The Fed should be controlled by the people, as money supply changes should be publicly voted upon.
What is money supply?The total amount of money—cash, coins, and balances in bank accounts—in circulation is known as the money supply. The money supply is typically understood as a collection of secure assets that individuals, businesses, and governments can use to make payments or hold as short-term investments.
The term "money supply" refers to both the population's access to and the amount of money that can be used in a nation's economy. Bank-held demand deposits and currency are the two halves of the supply of money. Coins and paper money are the two forms of currency that are produced.
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Answer:
The Fed is essential to a stable economy, as an unregulated money supply can spike inflation.
Explanation:
just took the test
Which of the following options is correct?
If in the money market, the quantity of money demanded exceeds the money supply, we would expect the interest rate to
(a) stay the same, causing no change in the money held by households and businesses.
(b) rise, causing households and businesses to hold more money.
(c) fall, causing households and businesses to hold more money.
(d) rise, causing households and businesses to hold less money.
(e) fall, causing households and businesses to hold less money.
If in the money market, the quantity of money demanded exceeds the money supply, we would expect the interest rate to rise, causing households and businesses to hold less money.
What is Money Market?
The trading of very short-term debt investments is referred to as the money market. It involves substantial trades between institutions and dealers at the wholesale level. Retail money market accounts opened by bank clients and money market mutual funds purchased by individual investors are included.
By purchasing a money market mutual fund, a Treasury bill, or by creating a money market account with a bank, a person can invest in the money market. Money market accounts have greater minimum balance requirements and withdrawal restrictions than standard savings accounts, but they also pay higher interest rates.
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if you have a net spendable income of 1,450 per month, what is the maximum amount of money you should spend on entertainment each month
Question #4
Multiple Choice
Values are principles that typically guide or influence an individual's decision-making process. Two
areas of life most often affected or influenced by values include
emotions and reactions
decisions and responses
physical health and feelings
attitudes and behaviors
The two spheres of life that are most frequently impacted or altered by values are attitudes and behaviors. The correct response is option (4).
Define attitudes and behaviors.An individual's attitude is defined as their mental perspective, or how they feel or think about someone or something. Behavior describes the actions, motions, conduct, or behaviors of an individual or a group toward other individuals. built upon. Experience and observation.
When people put more focus on their own attitudes and feelings, they tend to act more in line with those feelings, therefore there is a link between attitude and behavior. Additionally, when people feel greater responsibility for their individual actions rather than the actions of a collective, their opinions are more consistent with their behavior.
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True/False: a multiple listing agreement lists real property with several brokers, but only the selling broker earns a commission on the sale.
The given statement is true because a multiple listing agreement lists real property with several brokers, but only the selling broker earns a commission on the sale.
A multiple listing agreement is a contract between a real estate agent and a home seller that enables the agent to market the property to other brokers in the local multiple listing service (MLS). This agreement includes the number of brokers, their commission rates, and any deadlines that must be met.
If the property sells, the selling broker, who is also the listing broker in the transaction, will earn a commission. The other brokers, who represented the buyers, will receive a portion of that commission if they are part of the same MLS.
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JohnBoy Industries has a cash balance of $54,000, accounts payable of $134,000, inventory of $184,000, accounts receivable of $219,000, notes payable of $129,000, and accrued wages and taxes of $41,500. How much net working capital does the firm need to fund?
Answer:Net working capital = $152,500
Explanation:
Net working capital = CA– CL
Where CA= Current Assets = Cash + Inventory + Accounts Receivable
and CL= Current Liabilities= Account payable + Notes payable + accrued wages and taxes
CA=$54, 000 + $184,000 + $ 219,000 =$457,000
Current liabilities = Account payable + Notes payable + accrued wages and taxes
CL = $134,000 + $129,000 + $41,500 = $304,500
Net working capital = Current assets – Current liabilities
Net working capital = $457,000 – $304,500= $152,500
Net working capital = $152,500
Fractional reserve banking means banks hold on to only a small fraction of
the deposits they receive, loaning out the rest. This type of system will fall
apart if:
Answer: if too many people ask for money, and there is not enough
Explanation:
The Great Depression was one of the biggest bank runs where too many people TRIED to withdraw their money, but if there wasn't enough money the bank owes too many people many, like the Great Depression.
Explain why you might not want to have passive income as your only source of income.
Answer:
Passive income is dependent on the actions of others, and you have little influence over the amount of money you earn. Without doing anything different, the money you receive from it might be extremely excellent or very awful. If, for example, you are a novelist and your book is panned, you may not be able to make a living from it. If people like it, on the other hand, you may make a lot of money.
____________OAmalOHopeO
______________
Answer:
Passive income relies on what others do and you dont really have control over the amount of money you make
Following are the transactions of a new company called Pose-for-Pics.
August 1 M. Harris, the owner, invested $6,000 cash and $25,800 of photography equipment in the company.
August 2 The company paid $3,800 cash for an insurance policy covering the next 24 months.
August 5 The company purchased supplies for $1,140 cash.
August 20 The company received $2,750 cash from taking photos for customers.
August 31 The company paid $876 cash for August utilities.
rev: 09_25_2021_QC_CS-279674
Analyze each transaction above by showing its effects on the accounting equation—specifically, identify the accounts and amounts (including + or −) for each transaction. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; M. Harris, Capital; Services Revenue; and Utilities Expense
In order to show the effects of each transaction on the accounting equation, we need to identify the accounts affected by each transaction and categorize them based on whether they are assets, liabilities or equity accounts. The accounting equation is Assets = Liabilities + Equity. Here are the effects of each transaction on.
the accounting equation:August 1 - M. Harris invested $6,000 cash and $25,800 of photography equipment in the company. This means that the company's assets increased by $31,800, specifically cash and equipment. Since the company is a new company, there were no liabilities yet, so the increase in assets is reflected in the equity account M. Harris, Capital, which increases by $31,800.August 2 - The company paid $3,800 cash for an insurance policy covering the next 24 months. This transaction reduces the cash account by $3,800 and increases the Prepaid Insurance account by the same amount.August 5 - The company purchased supplies for $1,140 cash. This transaction reduces the cash account by $1,140 and increases the Supplies account by the same amount.August 20 - The company received $2,750 cash from taking photos for customers. This transaction increases the cash account by $2,750 and increases the Services Revenue account by the same amount.August 31 - The company paid $876 cash for August utilities. This transaction reduces the cash account by $876 and increases the Utilities Expense account by the same amount.
In summary, each of these transactions had a specific effect on the accounting equation. The first transaction increased the company's assets and equity accounts since the owner invested cash and equipment in the business. The second and third transactions reduced the cash account and increased the Prepaid Insurance and Supplies accounts, respectively. The fourth transaction increased the cash account and Services Revenue account, while the final transaction reduced the cash account and increased the Utilities Expense account. The accounting equation remains balanced throughout these transactions, with the total assets equaling the sum of the liabilities and equity.
Pose-for-Pics has been analyzed by showing the effect of each transaction on the accounting equation. This company's financial transactions have a significant impact on its financial statements. By analyzing these transactions, we can determine the company's current financial position and performance. The accounting equation must remain balanced throughout these transactions, with total assets equal to the sum of liabilities and equity.
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Do you think large multinational corporations in general like Wal-Mart, Apple, McDonalds and Frito Lay are good or bad for the world? Is "globalization" another word for “Americanization”? Why or why not? (3 points) Explain using complete sentences.
Answer:
I think multinational corporations in like these are bad. Because even people on diets or trying to diet, and people buy it for them not knowing its hard for them to say no.
Explanation:
NEED ASAP PLEASE
Select the correct text in the passage.
Hussein is writing a response rejecting a customer’s request for a product replacement. Select the text in the passage that shows the reasons he gives for the negative message.
Thank you for writing to us regarding your request for a replacement fan.
To guarantee customer satisfaction, we extend a warranty of 90 days on this product for all our customers. If returned within 90 days, we offer replacements free of charge.
Based on the receipt you attached to your email, we see that you purchased this product 120 days ago. We regret that we are unable to offer a replacement.
As an alternative, we can offer a 20 percent discount on any other product you wish to purchase from our store. We look forward to doing business with you again.
Answer:
Based on the receipt you attached to your email, we see that you purchased this product 120 days ago. We regret that we are unable to offer a replacement
Explanation:
Hope it helps!
What is the main difference between a market and a command economy?
Answer:
Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources. Most nations operate largely as a command or market economy but all include aspects of the other.
Who is responsible for U.S. monetary policy and what are the roles of the Fed, Congress, and the President?
The ______ appoints the members and the Chairman of the Board of Governors of the Fed.
The ______ is responsible for the conduct of monetary policy.
A. Congress; Fed
B. President; Fed
C. Fed; Congress
D. Congress; President
Answer: B. President; Fed. The President appoints the members and the Chairman of the Board of Governors of the Fed. The Fed is responsible for the conduct of monetary policy.
The roles of the Fed, Congress, and the President in U.S. monetary policy: The Federal Reserve System, also known as the Fed, is the central bank of the United States. Its main responsibilities include conducting monetary policy, supervising and regulating banks, and maintaining the stability of the financial system. The Fed's monetary policy is set by the Federal Open Market Committee (FOMC), which consists of the seven members of the Board of Governors of the Fed and five of the twelve presidents of the Federal Reserve Banks. The FOMC meets regularly to assess economic and financial conditions and make decisions about the appropriate level of interest rates and other monetary policy tools to achieve its dual mandate of maximum employment and price stability.
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the accounting department should only have access to ________ since its function is to
The function of the accounting department is to record and verify changes in money and to do this, the department should have access to financial records.
The accounting department is an important department in all companies that deals with money and registers the changes of it. The functions of the department include:
Verifying money changes are accurate.Registering these changes of money.Moreover, to verify and register all changes in money, this department requires having access to all types of financial records including:
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a copy of the list of checks; record the change in cash. (Accounting 101)
Robinson plc have decided that in order to make better investment appraisal decisions they need to re-calculate the company’s cost of capital. The following information is extracted from the company’s statement of financial position (balance sheet):
Fixed assets: 890
Current assets: 370
Current liabilities: (220)
Non-current liabilities:
5% Bonds (£100 par) redeemable in 7 years (160)
4% Irredeemable Bonds (£100 par) (190)
Bank Loan (120)
Share capital and reserves
Ordinary Shares (nominal value 50p) 180
7% Preference shares (£1 nominal value) 100
Reserves 290
Additional information:
The risk-free rate of return on short-dated government bonds is currently 3%. The market risk premium has been estimated at 7% and the company’s beta is 1.5. The company’s ordinary share price is £3 and the preference share price is £0.8. The irredeemable bonds are currently trading at a 5% discount to par value and the redeemable bonds are currently trading at £105. The rate of interest payable on the loan is 8% and the corporation tax rate is 25%
a) Explain the role of the weighted average cost of capital (WACC) in financial decision-making.
b) Calculate the cost of each source of finance used by Robinson plc, including their reserves
c) Discuss why market values rather than book values should be used when calculating the WACC.
d) Calculate the weighted average cost of capital for Robinson plc using market weightings.
e) Using diagrams explain and discuss Miller and Modigliani’s (1963) view of capital structure.
The Weighted Average Cost of Capital (WACC) plays a crucial role in financial decision-making. It represents the minimum return a company needs to earn on its investments to satisfy both equity shareholders and debt holders.
It takes into account the cost of each source of finance used by the company, weighted by their respective proportions in the capital structure. Market values, rather than book values, should be used when calculating the WACC to reflect the actual value of the company's assets and liabilities. By using market weightings, the WACC reflects the current market conditions and investor expectations. Miller and Modigliani's view of capital structure explained through diagrams, suggests that a firm's financing decisions, such as the proportion of debt and equity, do not affect its market value under certain assumptions.
a) The WACC represents the average cost of financing for a company and is used as a discount rate to evaluate the feasibility of investment projects. It considers the cost of equity and debt in the company's capital structure and provides a benchmark for determining whether a project will generate returns higher than the cost of capital, thus creating value for shareholders and debt holders.
b) The cost of each source of finance can be calculated as follows:
Cost of equity: Risk-free rate + (Beta * Market risk premium)
Cost of debt: The interest rate on the loan
Cost of preference shares: Dividend rate on preference shares
Cost of irredeemable bonds: Coupon rate on irredeemable bonds
Cost of redeemable bonds: (Annual interest payment + (Redemption value - Current market price)) / (Redemption value + Current market price)
c) Market values should be used when calculating the WACC because they reflect the true value of the company's assets and liabilities based on current market conditions. Book values may not accurately represent the market value of assets and may not capture changes in the company's risk profile or investor expectations.
d) The weighted average cost of capital can be calculated by multiplying the cost of each source of finance by its respective weight in the capital structure and summing them up. The weights are determined by dividing the market value of each source by the total market value of the company's capital structure.
e) Miller and Modigliani's view of capital structure, represented through diagrams like the capital market line and the trade-off between debt and equity, suggests that under certain assumptions (such as perfect markets and no taxes), the capital structure of a firm does not affect its market value. This means that the financing decisions of a company, whether it uses more debt or equity, will not impact its overall market value. However, in real-world situations with market imperfections and taxes, capital structure decisions can have an impact on a firm's cost of capital and value.
as well as worth.
At last, the Weighted Average Cost of Capital (WACC) is an important factor in financial decision-making. It denotes the minimum return a firm must generate on its investments in order to satisfy both stock and debt holders.
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You are a 25% partner of ABC, LP. Here are some additional facts – • ABC's 2020 partnership tax return, when filed, will show that it earned total taxable income for the year 2020 of exactly $1,740,000. • ABC distributed cash to its partners during 2020 in the aggregate total amount (i.E., to all partners as a group) of $1,400,000. What total taxable income amount will you be reporting on your 2020 Form 1040 (when filed) as a result of your status as an ABC partner?
________________________________
= 25% × $1,400,000 ÷ 100= $350,000________________________________
Answer:
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Explanation:
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True or False - In 2013, less than 83% of people filed their taxes electronically.
true
false
Answer:
false because it was 73 percent
Explanation:
it was 73 percent
Answer:true. Had to retake because of the wrong answer
Explanation:
If the inventory balance on 1/1/20X1 is $49,000, the inventory balance on 12/31/20X1 is $41,000, the net sales are $810,000, and cost of goods sold is $315,000, what is the inventory turnover for 20X1?
The inventory was sold and replenished 7 times during the year. the inventory turnover for 20X1 can be calculated by dividing the cost of goods sold by the average inventory balance.
The formula for inventory turnover is:
Inventory Turnover = Cost of Goods Sold / Average Inventory
Given the information provided:
Cost of Goods Sold = $315,000
Inventory Balance on 1/1/20X1 = $49,000
Inventory Balance on 12/31/20X1 = $41,000
To calculate the average inventory balance, we take the average of the beginning and ending inventory balances:
Average Inventory = (Beginning Inventory + Ending Inventory) / 2
Average Inventory = ($49,000 + $41,000) / 2
Average Inventory = $45,000
Now we can calculate the inventory turnover:
Inventory Turnover = Cost of Goods Sold / Average Inventory
Inventory Turnover = $315,000 / $45,000
Inventory Turnover = 7
Therefore, the inventory turnover for 20X1 is 7. This indicates that, on average, the inventory was sold and replenished 7 times during the year.
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