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2 years ago

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A company purchased equipment for use in the business at a cost of $15,000, one-fourth was paid in cash, and the company signed

a note for the balance. The journal entry to record this transaction will include a:

1 answer:

timofeeve [1]2 years ago

8 0

Answer:rr56iomivt

Explanation:

gi'opi[9[hjkjgkglo8uhuoouhiii6666666699999999999999999

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Production equipment costing $500,000 has been purchased by a contract manufacturing company to meet the specific needs of a cus

irina1246 [14]

Answer:

Short-cut IRR = 18.75%

The company has not reached their rate of return goal on this contract and investment.

Explanation:

a) Data and Calculations:

Cost of production equipment = $500,000

Qualified investment tax credit (ITC) = 10% = $50,000 ($500,000 * 10%)

Contract period = 4 years with 4 years extension on renewal

Income tax rate for the company = 40%

Expected after-tax rate of return = 12%

Expected before-tax rate of return = 30% (12%/40%)

Annual income generated by the equipment = $150,000 for 4 years

Salvage value at the end of 4 years = $200,000

Short-cut IRR = 100%, divided by the number of years * about 75-80%

= 100%/4 * 75%

= 18.75%

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3 years ago

Gwen is a psychologist who maintains an office in a professional suite. She often spends time doing paperwork and scheduling in

Aleks04 [339]

Answer:

A-she can deduct her mileage for driving from her home to her office at the professional suite

B-she can deduct her home office expenses

Explanation:

As a general rule of thumb, every expenses that incurred for business operation can be deducted from your taxes. This rule can still applicable even if you're working from your home.

A car mileage <u>can only be deducted according to the proportion that is used for work</u><u> </u> since it's considered as an expense that must incurred in order for Gwen to do her business.

Lunch money is considered as private consumption that does not related to her business operation. This is why it's not tax deducible.

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3 years ago

You have set a par value of 25 chicken cutlets. Your inventory says you have 10 on hand from last night. How many should you ord

alina1380 [7]

15? since you have 10 left on hand after last night's inventory check you should get 15 if you don't know the rate at which each are sold.

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3 years ago

Quick-service restaurants are likely to spend __________ percent of their income on advertising, more than is spent by the casua

DENIUS [597]

Answer:

The correct answer to the following question will be "4 to 5".

Explanation:

Fast-service restaurants are inclined to spend 4 or 5 percent of their sales on ads, almost as much as the casual, fast-casual, or family restaurant, or dining room, does.

Ways to attract further friends to Hotel Streamline Booking procedures:

Manage the deals and prices.
Customize Hotel Experience.
Harnessing Internet Energy.
Up The Stakes Social Media.

With your friends, log in Evaluate Chambers.

Therefore, 4 to 5 is the right answer.

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3 years ago

True or false: When units produced are less than units sold, net income under absorption costing will be less than net income co

Oliga [24]

Answer:

True

Explanation:

Generally, net income will be the same under absorption costing and variable costing. However, producing fewer units than units sold will decrease the net income under absorption costing. As whatever the variable cost is under the absorption method, fixed manufacturing overhead remains the same that decreases the gross profit and net income. Under the variable costing, the fixed overhead will be calculated as per the units produced. Therefore, the net income will decrease proportionately.

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3 years ago