If prices are rising, which inventory cost flow method will produce the lowest amount of cost of goods sold?.

Workers typically get dirty if they work at a job site for

KengaRu [80]

Workers typically get dirty if they work at a job site for Landfills, Construction sites or in Slaughter Houses

8 0

3 years ago

Read 2 more answers

Buying and selling products online is called ____________. A. Information systems B. Browsing the web C. E-commerce D. E-mailing

Nadusha1986 [10]

Answer:

The answer is C. E-commerce

Explanation:

E-commerce refers to the process of buying or selling products or services over the Internet. So i believe this is the answer to the question.

3 0

3 years ago

Stylist Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been

docker41 [41]

Answer:

Date General Journal Debit ($) Credit ($)

July 31 Fees Earned 520,400

Wages Expense 488,000

Rent Expense 65,000

Supplies Expense 11,200

Miscellaneous Expense 13,900

Marlena Fenton, Capital (57,700)

(To close Revenue and Expense accounts)

July 31 Marlena Fenton, Capital 11,000

Marlena Fenton, Drawing 11,000

Explanation:

Marlena Fenton, Capital = $880,000

Marlena Fenton, Drawing = $11,000

Fees Earned = $520,400

Wages Expense = $488,000

Rent Expense = $65,000

Supplies Expense = $11,200

Miscellaneous Expense = $13,900

Marlena Fenton, Capital = $520,400 -($488,000 + $65,000 + $11,200 + $13,900) = ($ 57,700)

7 0

3 years ago

What is the present value (PV) of $50,000 received eighteen years from now, assuming the interest rate is 4% per year

LuckyWell [14K]

Answer:

$24,681.41

Explanation:

In this question, we use the present value formula which is shown in the spreadsheet.

The NPER reflected the time period.

Provided that,

Future value = $50,000

Rate of interest = 4%

NPER = 18 years

The formula is presented below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the answer would be $24,681.41

8 0

3 years ago

Leon exchanges an office building which he held as investment property for a bowling alley. His office building has a basis of $

exis [7]

Answer:

According to Section 1031 of Internal Revenue Code, an exchange of like-kind property is referred to as like-kind exchange, if the exchange meets the following criteria:

The property should be exchanged only for the 'like-kind' (same class) property.
The 'like-kind' property that is in exchange should be either used in operations of business or held for investment purposes.
The exchange should be done under specific timing restrictions or requirements (for indirect exchanges through third parties).

Explanation:

A) Explanation: Since both the properties in exchange are real properties which are used in business, this is a like-kind exchange

B)

Description Amount ($)

Fair market value of bowling alley 120,000

Add: Mortgage value L is relieved off 40,000

Amount reali7ed 160,000

Less: Adjusted basis (175:000)

Realized loss by L (15,000) 

C) Explanation: Since the loss realized is due to exchange, the loss is not recognized.

D) Explanation: Since the loss is not recognized, the character of gain or loss could not be

E) Explanation: The total of realized loss, $15,000 (From Requirement (b)) is deferred.

F) Determine the basis of property acquired in exchange, bowling alley.

Description Amount ($)

Fair market value of bowling alley 120,000

Add: Deferred loss 15,000

Basis of bowling alley 135,000

8 0

3 years ago