Answer: $0
Explanation: The total amount of an individual's Gross income which is taxed is called the taxable income. An individual's Adjustable Gross Income may include expenses such as charitable contribution, mortgage interest, medical and some other eligible expenditure which are are deducted in other to lessen the taxable income of such individual. Such deductions are called the Itemized deductions.
However, personal expenses DO NOT CONTRIBUTE to an individual's Itemized deduction and as such, MIKE HANSEN'S ITEMIZED DEDUCTION IS ZERO.
The $6000 incurred is classed under personal expenditure and is not deductible.
Answer:
1) B) I'll be sharing some special sales tips with you tomorrow that will make your job easier.
2) B) Your goal for this month is to sell 10% more lattes, and you will receive a reward if you reach it.
3) C) Two days off with pay
Explanation:
1) The <em>E->P expectancy</em> is related to the concept of investing effort into something that you know will lead to the desired performance. It is the part of the expectancy theory that is not related to rewards.
In this example. the goal (task) is to increase sales. The E->P expectancy is the probability that Ethan's efforts will result in the desired performance (increased sales). By giving sales tips to Ethan, he will get more self-esteem and know-how and believe that his effort will in fact result in the desired outcome.
Although this is an overlooked part of the expectancy theory sometimes, it is crucial. Despite the appeal of a particular reward, an employee may not get increased motivation if he/she thinks that the task itself cannot be completed.
2) The <em>P->O expectancy</em> is related to rewards, and it states that employees will get motivated if the desired performance will result in a reward. In this case, Emma's putting the goal (10% increased sales) in direct relation with a reward.
3) Since the Motivation Report states that Ethan is motivated by time off, two days off with pay is the most appealing reward for him. The money bonus is more appropriate for Jon, while a choice of work assignments is better for Blair.
Answer:
C. American businesses; American consumers.
Explanation:
Currently so many businesses of America are overseas, approximately 40%.
Now when the dollar turns weak these businesses are benefited in a manner that is the buyers needs to pay more for such deals.
Further with this as the buyers needs to pay more, even in the country the imported goods turns expensive as dollars decrease their value.
Accordingly, it is the american business man who gets benefited with weaker dollar, and the american consumer has to pay more for this.
Answer:
<u>e) accounts receivable</u>
Explanation:
a) <em>allowance for doubtful accounts:</em> this is used to determinate a provision of uncollectible account. Customers that will not honor their debts.
b)<em>prepaid expenses:</em> This is use for the payment in advance for utilities and other expenses like rent. The description does not involve any payment from Dr Torres.
c)<em>unearned revenues: </em>used when the customer pays the service or goods but the business didn't perform or deliver. The Dr has perform his services so they revenues are earned.
d) <em>intangible assets: </em>refers to trademarks, patents and other assets which related to the business. the customers account are tangible, they are a know value
e) <u>accounts receivable: correct.</u>
This represent the collectible amount from customers, which is exactly what it is happening. The Dr gives a certain amount of time to receive the payment for his services. While the services aren't paid, the Dr has "Accounts to receive"
Answer:
e) Credit to Revenue
Explanation:
The services provided to customers will be an increase of revenue and an increase in revenues is a credit transaction.
Since the question does not mention that the services were billed therefore the accounts receivable will not be increased till it is billed and thus option a) is not applicable.
The other options are not relevant since there is no cash collection involved, and no liabilities involved.