Answer:
<em>Taxable Income</em> is the amount that is used to calculate how much tax you owe.
I would assume inside of an office building with cubicles.
Answer:
Cash Balance at the beginning of the year = $4,600
Explanation:
Opening Cash Balance = Closing Cash Balance - Net Increase (Decrease) in Cash
Opening Cash Balance = $18,100 - $13,500 = $4,600
Answer:
A)After the reversing entry is posted for the adjustment made to recognize the salaries expense at the end of the accounting period, the Salaries Expense account will have a zero balance and the Salaries Payable account will have a credit balance
Explanation:
Reversing entry can be regarded as
a journal entry which is been made during an accounting period, it
reverses selected entries that is been made during immediately preceding period. reversing entry typically take placeat the beginning of particular accounting period.
It should be noted thatReversing entries are;
1) made to reverse the effect of certain adjustments.
2) provide a way to guard against oversights, eliminate the review of accounting records, and simplify the entry made in the new period.
3)is the exact opposite (the reverse) of the adjustment.
Answer and Explanation:
The computation is shown below
a. The economic order quantity is
= sqrt ((2 × annual demand × ordering cost) ÷ carrying cost)
= sqrt ((2 × 1,215 × $10) ÷ $75)
= 18 units
b) Average number of bags on hand is
= EOQ ÷ 2
= 18 ÷ 2
= 9
c) Orders per year is
= D ÷ EOQ
= 1215 ÷ 18
= 67.5
= 68
d) Total cost = Total carrying cost+ Total ordering cost
= (Q ÷ 2)H +(D ÷ Q)S
= (18 ÷ 2)75 + (1215 ÷ 18) × 10
= 675 + 675
= $1350
