ACC 205 (ACC 205)

Your tax liability is 30 percent of you1Your tax liability is 30 percent of your $60,000 salary, and Which is not one of the advantages of 529 college savings plans? Question 5 options: 1) You pay no taxes on the account's earnings. 2) Anyone (your mom, dad, grandparents, uncles, aunts, etc.) can contribute to the account and, in some state-sponsored plans, the contribution is deductible from state taxes. 3) Even if you are currently in college, you can contribute to a 529 plan, and the...

You are working at the headquarters of Maia MagnificentQuestionYou are working at the headquarters of Maia Magnificent, which produces mountaineering and ski equipment. Your CEO has asked you to calculate the enterprise value and equity value per share. What is your answer?Answer & ExplanationTo calculate the enterprise value (EV) and equity value per share, we need specific financial information about Maia Magnificent. Here's what is typically required:1.Enterprise Value (EV):oMarket C...

You are to use the supplied historic data to develop forecasts that can inform KCBQuestionYou are to use the supplied historic data to develop forecasts that can inform KCB's decision whether and when to add additional high bay capacity to the toll station. 1. Plot the historic data and provide an estimate of seasonality of the leisure traffic. 2. Provide a forecast of the expected traffic up to the end of 2025, based on the complete data set you have been given. Create a suitable chart...

why is perfecting your presentation skills and learning to speak well in public so important to the success of your future careerQuestionwhy is perfecting your presentation skills and learning to speak well in public so important to the success of your future career. Are you nervous? If you are,what can you do about it?Answer & ExplanationPerfecting presentation abilities and learning to speak well in public are vital for career success for various reasons:Importance of Presentation...

Why cannot a profitable company like Jackson repay its loa1QuestionWhy cannot a profitable company like Jackson repay its loan? In discussing this item, you may need to prepare a "Sources and Uses" statement (do not post this statement). Discuss your findings.Answer & ExplanationTo understand why a profitable company like Jackson might be unable to repay its loan, we need to consider several financial aspects beyond just profitability. Profitability does not always equate to liquidit...

Which quick books function would be most useful when preparing 1099 tax formsWhich quick books function would be most useful when preparing 1099 tax formsAnswer & ExplanationThe "Prepare 1099s" function in QuickBooks would be the most useful when preparing 1099 tax forms. Here's a step-by-step guide on how to use it:1.Select Vendors: From the QuickBooks home page, go to the "Vendors" menu and select "Print/E-file 1099s".2.Get Started: Click on "Get Started"...

Which of the following would not be included with cash and cash equivalents on the balance sheetQuestionWhich of the following would not be included with cash and cash equivalents on the balance sheet? a. Unrestricted funds on deposit b. Checks . Sinking funds d. Undeposited credit card sales receipts Which of the following would not be classified as a trade receivable a . Customer accounts receivable for the sale of merchandise on account b Short-term customer note receivable in exchange ...

Which of the following statements is trueWhich of the following statements is true? multiple choice 2 The appendix to this chapter covers the LIFO method of process costing. The appendix to this chapter covers the FIFO method of process costing. The appendix to this chapter covers the weighted-average method of process costing. The appendix to this chapter covers the average cost method of process costing.Answer & ExplanationTo determine which statement is true, we need to identify the met...

Which of the following is true for KN95 masksQuestionWhich of the following is true for KN95 masks? A. Meets Chinese standards B. Meets Korean standards C. Meets Canadian standards D. None of the aboveAnswer & ExplanationThe correct answer is A. Meets Chinese standards.Explanation:1.KN95 Masks:oKN95 masks are a type of filtering facepiece respirator that meets the Chinese standard GB or GB.oThe "KN" in KN95 stands for the regulatory standard for respiratory equipment overseen by the ...

Which of the following is NOT a separately stated itemWhich of the following is NOT a separately stated item? Multiple choice question. Capital gains and losses Sales revenue less costs of goods sold Section 1231 gains and losses Tax-exempt income Dividend incomeAnswer & ExplanationThe correct answer is "Sales revenue less costs of goods sold".Explanation:Separately stated items are those that are reported separately on a partner's Schedule K-1 in a partnership or shareholder's...