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Lynna [10]
2 years ago
8

Turn company utilizes the lifo inventory method to calculate taxable income. which method is available to turn for financial rep

orting purposes?
Business
1 answer:
aleksley [76]2 years ago
4 0

Turn company utilizes the LIFO inventory method to calculate taxable income. The method which is available to turn for financial reporting purposes is FIFO.

The Turn Company is a project management company which focuses on the year round oversight and execution of property turn and make ready contract services.

The Turn Company utilizes the LIFO inventory method in order to calculate taxable income. For most companies, FIFO (“First-In, First-Out”) method is the most logical choice since they use their oldest inventory first in the production of goods.

Suppose your inventory costs are going down, FIFO will allow you to claim a higher average cost per piece on newer inventory, which can help you save money on taxes.  

Hence, the Turn company utilizes FIFO for financial reporting.

To learn more about LIFO and FIFO here:

brainly.com/question/15344569

#SPJ4

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The _________ of Office Depot includes Amazon, where many people order office supplies, as well as manufacturers of office suppl
Komok [63]

Answer:

Task Environment

Explanation:

Task environment is an external environment that affects an organization's ability to achieve its business goals. We could say that any type of  business or customer relationship directly with an organization has the ability of being the  part of the business environment. We could count some examples to the mission environment sectors : competitors, customers, suppliers, and labor supply.

3 0
3 years ago
Read 2 more answers
9. Mackenzie PLC is considering expanding a production line. The new equipment for the line will cost $255,000. In addition, the
NNADVOKAT [17]

Answer:

Net Present Value = $59,632.78

Explanation:

<em>The net present value NPV) of a project is the present value of cash inflow less the present value of cash outflow of the project. </em>

<em>NPV = PV of cash inflow - PV of cash outflow </em>

Present value of cash inflow:

65,000 × (1.09375)^(-1) + 98000 ×(1.09375)^(-2)+ 126,000 ×(1.09375)^(-3)+  132,000 × (1.09375)^(-4)= 326882.7792

PV of annual maintenance cost :

=1,500 × (1- 1.09375^(-4))/0.09375

=4819.84773

NPV = 26882.7792  - 4819.84773 - (255,000+12250)

= 59,632.78

8 0
3 years ago
Which statement about subsidiary ledger is most accurate
s344n2d4d5 [400]
The accounts receivable subsidiary ledger is a book of accounts that provides supporting detail for Accounts Receivable.
4 0
3 years ago
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A man aged 40 wishes to accumulate a fund for retirement by depositing $1,000 at the beginning of each year for 25 years. Strati
Firdavs [7]

Answer:

The man will made 15 drawins for 31,468 at their retirement age.

Explanation:

We solve for the future value of the annuity-due (deposits at the beginning)

C \times \frac{(1+r)^{time} -1}{rate}(1+r) = FV\\

C 1,000.00

time      25

rate         0.04

1000 \times \frac{(1+0.04)^{-25} -1}{0.04}(1+0.04) = PV\\

FV $375.1168

Now, we calcualte the amount of the withdrawals considering the new rate:

PV \div \frac{1-(1+r)^{-time} }{rate}(1+r) = C\\

375.116802253964 \div \frac{1-(1+0.035)^{-15} }{0.035}(1+0.035) = C\\

C  $ 31.468

7 0
3 years ago
As an upper-level manager for IBM, Danny is one of many people responsible for allocating organizational resources in order to a
kykrilka [37]

Answer:

informational

Explanation:

Based on the scenario being described within the question it can be said that Danny is mainly responsible for informational resources. This refers to any and all types of data, which in this case mainly pertains towards consumer preferences. Danny's responsibilities include gathering, analyzing, managing, organizing, storing, and distributing informational data.

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3 years ago
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