Sam's employer matching a portion of his contributions to a 401k is essential for him to consider when planning how to allocate his cash flow because it provides a valuable opportunity to maximize his retirement savings.
Employer matching contributions are essentially free money added to Sam's account, increasing the overall value of his retirement fund.
By taking advantage of the employer match, Sam can potentially double his 401k contributions, depending on the match percentage offered by his employer. This significantly accelerates his retirement savings growth and helps him reach his financial goals faster.
Moreover, contributions to a 401k are usually tax-deferred, meaning Sam's taxable income is reduced by the amount he contributes. This results in immediate tax savings, allowing him to allocate more of his cash flow towards his retirement goals.
In addition, the 401k plan provides a long-term investment horizon, allowing Sam's funds to grow through compound interest over time. As his account balance increases, so does the earning potential, which can lead to substantial growth in the long run.
In summary, Sam should prioritize maximizing his employer's 401k matching contributions when allocating his cash flow. Doing so will allow him to take advantage of free money from his employer, reduce his taxable income, and accelerate the growth of his retirement savings, ultimately helping him achieve a more secure financial future.
To know more about Employer matching contributions, refer to the link below:
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#SPJ11
B. Credit to Purchase Discounts
C. Credit to Accounts Payable
D. Credit to Cash
i know its not cash
Answer:
Debit to Accounts payable ( A )
Explanation:
To pay for previous credit purchases made by a company it can be made by crediting the Accounts payable of the company or by converting the credit to cash payments to the company from whom the company purchased the goods.
Accounts payable is a liability account operated by a company to take care of all the credit purchase made by the company. crediting this account by the company will help offset previous credit purchases while debiting this accounts will leading to worsening the debit conditions of the company towards its suppliers hence this is a means of paying for previous credit purchases
To determine how much Ricardo will owe after n months, we must account for his down payment and his monthly payments on the tablet. Subtracting the down payment from the total cost, we start with an initial debt of $900. Then, through monthly payments of $50, this debt is decreased, resulting in the equation: y = -50n + 900.
The subject matter is looking for an equation in slope-intercept form to determine how much Ricardo will still owe after making a down payment and monthly payments for n months on a tablet. You first should subtract the down payment from the overall cost of the tablet to understand the total amount Ricardo will owe after making the down payment. Given the tablet costs $1,150 and Ricardo's down payment is $250, his initial debt (y-intercept) is $1150 - $250 = $900.
After that, Ricardo will start making monthly payments. These payments represent a monthly decrease in the amount he owes, so they are represented by a negative slope. Since he'll be paying $50 each month, the equation to find the principal balance remaining (y) after 'n' months would be: y = -50n + 900.
#SPJ3
b. A cash reserve
c. Equity
d. Insurance
correct answer?
My social security plus what I have put in a regular savings account will do
ОА.
it
OB. A good guidelines is 80% of your working income.
Three years income and the 25% I may receive from my company's
Oc.
pension plan
OD Enough money to last 20 year
Answer:
subject??
Explanation:
Answer:
the depreciation expense at the end of the first year, December 31 is $ 8,250
Explanation:
Straight line Method of Depreciation Charges the same amount of depreciation over the useful life of the asset.
Depreciation Charge = (Cost - Salvage Value) / Useful Life
Depreciation Charge = ($50,000-$6,000) / 4 years
= $11,000
Apportionment of Depreciation Charge
From April 5 to December 13 there are 9 months
Therefore depreciation for the year is apportioned as follows :
Depreciation Charge = 9/12× $11,000
= $ 8,250