Answer:
The balance in Eve's prepaid insurance as of December 31, 2016 is $18,000
Explanation:
The computation of the balance of prepaid insurance is shown below:
= Per month policy one amount × total number of months in a year + Per month policy one amount × total number of months in a year
where,
Per month liability policy amount = Insurance amount ÷ given months
= $36,000 ÷ 18 months
= $2,000
Per month crop damage policy amount = Insurance amount ÷ given months
= $12,000 ÷ 24 months
= $500
Now put these values to the above equation
So, the value would equal to
= ($2,000 × 12 months) ÷ 12 months + $500 × 12 months
= $12,000 + $6,000
= $18,000
For computing the December 2016, we divided the 12 months from the liability policy
Answer:
D. Incomplete
Explanation:
The information supplied by the furniture manufacturing can be described as incomplete because it fails to state how big or how small the wooden logs should be to serve the purpose of what it is wants to be used for. It only states the kind of quality that the wood should be and that it should be of the same size.
Answer:
Fixed overhead allocated to ending inventory= $96,000
Explanation:
Giving the following information:
Production= 48,000
Sales= 40,000
Fixed manufacturing overhead= $576,000
First, we need to calculate the unitary fixed manufacturing overhead:
Unitary fixed manufacturing overhead= 576,000/48,000= $12
Fixed overhead allocated to ending inventory= 12*8,000= $96,000
'Elizabeth Trump and Son', which was Donald Trump's Father's company.
Answer:
The answer is: B) $24,000
Explanation:
This type of exchange is classified as a like-kind exchange (1031 exchange); it is a transaction that allows a company to dispose an asset and acquire another replacement asset without generating a tax liability from the sale of the replaced asset.
$40,000 (replacement asset) + $4,000 (cash paid) - $20,000 (replaced asset) = $24,000
