Current assets, or possessions used up within a year, are generally used to settle current liabilities.
<h3>Why do you use the term "current liabilities"?</h3>
- Current liabilities are debts or commitments that fall due within a year or during the regular business cycle. Additionally, current obligations are paid off by using a current asset, either by generating a fresh current liability or by using cash.
- In accounting, current liabilities are frequently interpreted as all debts owed by a company that must be paid in cash within the fiscal year or the operational cycle of that particular company, whichever is longer.
- Current assets, or possessions used up within a year, are generally used to settle current liabilities. Accounts payable, short-term loans, dividends, and notes payable are a few examples of current liabilities, along with any outstanding income taxes.
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That sucks hopefully she feels better
Answer:
C. $20,000
Explanation:
Given the data below,
Property transfered = $200,000
Basis = $60,000
Return = 82℅
Fair market value = $180,000
Long term fair market value = $20,000
In the above scenario, we can safely say that Eileen realized gain of $140,000 on the transfer of property, which is due to;
Property worth $200,000 - basis $60,000 = $140,000.
However, because recognized gain cannot exceed the lesser of realized gain ($140,000) or the boot received ($20,000), the recognized gain is therefore $20,000
Answer:
B
OSHA responds to complaints of unsafe work environments, and can fine or take negligent employers to court.
Explanation:
Answer:
Explanation:
The equivalent units of production for conversion costs were:
Ending Inventories:
Work in Process - Eqvivalent units (16000*75%) = 12,000
Finished Goods = 60,000
Add:Units sold during the month =250,000
322,000
Less:
Beginning Inventories:
Work in Process - Eqvivalent units = 0
Finished Goods = 75,000
Equivalent Units of Production = 247,000
