Answer:
Variable cost=$750,000
Fixed costs= $13,000
Explanation:
Giving the following information:
The firm must purchase $60 in raw meat and pay $50 in wages for labor and $40 in fuel costs. Also, the firm rents a factory for $10,000 per month and makes 3,000 in monthly payments on meat packaging equipment. Suppose the firm prepares and transports 5,000 packages of meat per month.
Variable cost= raw meat + wages + fuel= (60 + 50 + 40)*5,000= $750,000
Fixed costs= rent + packaging equipment= 13,000
Answer:
Dr Cash 105,600
Dr Compensation Expense 14,400
Cr Common Stock 10,000
Cr Paid-In Capital – Excess of Par 110,000
Explanation:
KL Corp Journal entry
Dr Cash 105,600
Dr Compensation Expense 14,400 (10,000*12*12%)
Cr Common Stock 10,000 (10,000*1)
Cr Paid-In Capital – Excess of Par 110,000
(10,000*(12-1))
Answer:
USAco
Export of Videos
The true statement is:
c. USAco cannot take a foreign tax credit because USAco purchases the videos in the United States.
Explanation:
A foreign-source income is income generated from exports of goods and services or arising from the income generated by a U.S. foreign subsidiary. Foreign tax credit is granted to US entities that have foreign subsidiaries to avoid double taxation of the foreign income.
Answer:
Quick Books Online uses smart learning in its reconciliation tool to help find any rogue transactions by recognizing if transactions have been excluded erroneously from bank feeds. Because bank feeds includes all transactions of bank account. What 2 reasons might mean a transaction needs to be excluded in bank feeds?
Explanation:
Answer:
1. Yes; Journal entry
2. Debit- Printing & Stationery Expense $160 (value for 8 boxes)
Credit- Cost of goods sold or Trading account A/c $160
3. Leaves to the cost of goods sold account
Explanation to:
1. Mackalaya used inventory. Remember, inventory is a term used to refer to all the merchandise (goods or products) a company has at the moment in stock.
2. The Journal entry to be made would be
Debit- Printing & Stationery Expense $160 and Credit this value to Cost of goods sold or Trading account A/c section of the Journal entry.
3. Remember, the cost of goods sold cares for all inventory sales, therefore it would be credited with value of the inventory item sold by the company.
