Answer:
His taxable income for 2019 is $4,740
Explanation:
In order to calculate his taxable income for 2019 first we have to calculate the following:
First we have calculate the sum of the total income (earned and unearned)=$5,090+ $890=$5,980
Taxable income for 2019=total income-Higher of the following two:a. $1,000 or b. $890+$350
Therefore, Taxable income for 2019=$5,980-$1,240
=$4,740
His taxable income for 2019 is $4,740
Answer:
D) Property's fair value at the date of the investment.
Explanation:
When new business is formed from closing the old one, all assets are recorded at fair value.
Thus, all the assets other than cash shall be recorded at their respective fair values in the new business which is a partnership, as the cost or historical value will not display their proportional contributions properly.
Therefore, correct statement is
D) Property's fair value at the date of the investment.
Answer:
$26,800
Explanation:
Sales revenue after further processing:
= Units produced from each ton of clypton × Selling price per unit
= 7,300 × $15
= $109,500
Sales revenue at split off point:
= Units produced from each ton of clypton × Selling price per unit
= 7,300 × $10
= $73,000
Incremental revenue:
= Sales revenue after further processing - Sales revenue at split off point
= $109,500 - $73,000
= $36,500
Incremental profit = Incremental revenue - Incremental cost
= $36,500 - $9,700
= $26,800
Therefore, financial advantage (disadvantage) of further processing product X15 is $26,800.
Answer:
budgeted costs for direct materials
budgeted direct manufacturing labor
budgeted manufacturing overhead
Explanation:
Direct materials costs are $4.00 per pool cue.
Direct manufacturing labor is $6.00 per pool cue.
Manufacturing overhead is $0.84 per pool cue.
total budgeted direct materials = 22,000 x $4 = $88,000
total budgeted direct labor = 22,000 x $6 = $132,000
total budgeted manufacturing overhead = 22,000 x $0.84 = $18,480
The information about the beginning and ending inventories is not relevant to this question since it only deals with budgeted or estimated costs which may or may not differ from actual costs.
Answer:
The knowledge gap can be filled with a knowledge management strategy. It involves identifying the knowledge gap and vulnerabilities and setting strategies for each of these gaps. There are three types of gaps in strategic management: Knowledge gap, strategic gap, Relations gap. The knowledge gap occurs when the company doesn't know what it needs to know. similarly, David lacks the knowledge that the customers were staying away from his shop because of the lack of services.
