![]() Rhe most popular feature is tracking monthly and quarterly federal government benefit payments. This makes it much easier to change account details like an address change, a bank account switch, and direct deposit information. Similar to income tax, CRA account users can monitor and administer their benefit account online. Taxpayer benefits include monitoring income tax refunds and remittances, Tax-Free Savings Account (TFSA) status, and Registered Retirement Savings Plan (RRSP) statements including RRSP-related Home Buyers’ Plan (HBP) and Lifelong Learning Plan sub-accounts. The Canada Revenue Agency income tax portal offers taxpayers an online tool to administer all things income tax-related. It should be part of your strategy to pay less incomes taxes. Having a CRA account can help sort things out quickly. Whether you prepare your taxes yourself or use a paid software like TurboTax or H&R Block, mistakes happen. One of the CRA’s jobs is to collect taxes. Users also have the ability to view benefit payment schedules and maintain direct deposit banking information. My Account users gain digital access to past and current income tax returns, notices of assessments, and proof of income (POI) documents. Taxpayers gain easy access to income tax refunds or payments. Why do I need an Individual CRA My Account?Ī CRA account offers 21-hour access to income tax and benefit payment information sevens days a week. Sign-in options for My Business accounts.Losing and regaining CRA account access.Setting up a CRA account for individuals.Why do I need an Individual CRA My Account?.NOTE: Enter a number in cells requesting a value enter either a number or a formula in cells with a "?". (d) Prepare a cost of goods manufactured schedule for June. (c) Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. (b) Post the entries to Work in Process Inventory. (a) Instructions Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred (2) assignment of direct materials, labor, and overhead to production and (3) completion of jobs and sale of goods. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,900. Customer Job Rodgers Koss Stevens Linton Rodgers Materials Requisition slips $$6,400 Time tickets $850 800 360 1,200 390 3,600 1,200 $4,800 General use Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred on account A summary of materials requisition slips and time tickets for June show the following. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $600 $800 $900 Direct labor 320 540 580 Manufacturing overhead 400 675 725 $1,320 $2,015 $2,205 During June, raw materials purchased on account were $4,900, and all wages were paid. Raw Materials Inventory $4,200 Manufacturing Overhead Applie $32,640 Work in Process Inventory $5,540 Manufacturing Overhead Incurre $31,650 Subsidiary data for Work in Process Inventory on June 1 are as follows. On June 1, 2020, the general ledger for Case Inc. ![]() ![]() The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. ![]() is a construction company specializing in custom patios. 2Prepare entries for a job order cost system and cost of goods manufactured schedule Case Inc. If the gross margin triples from year 1, it will be:$15,000 x 3 = $45,000The new cash operating costs are still $6,000, so the net income for year 2. Step1/3To calculate the ARR (accounting rate of return) for the first year, we need to first calculate the net incomeStep2/3To calculate the ARR, we divide the average annual profit by the initial investment, and express the result as a percentage:Step3/3Whether Nick and Amber move forward with the purchase based on this information alone will depend on their investment criteria and other factors.Explanation:Now The Answers For A B CA: To calculate the ARR (accounting rate of return) for the first year, we need to first calculate the net income.The additional gross margin in year 1 is $15,000, and the new cash operating costs are $6,000, so the net income in year 1 will be: $15,000 - $6,000 = $9,000 To calculate the ARR, we divide the average annual profit by the initial investment, and express the result as a percentage:ARR = (Average Annual Profit / Initial Investment) x 100%In this case, we only have one year of income to consider, so the ARR for the first year is:ARR = ($9,000 / $200,000) x 100% = 4.5%Whether Nick and Amber move forward with the purchase based on this information alone will depend on their investment criteria and other factors.B: To calculate the ARR for year 2 on its own, we first need to calculate the net income for that year.
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