Answer:
$9,240 loss recognized
$43,000 basis
Explanation:
Tax basis of share purchase is the cost of share together with any tax related to this purchase.
Mr. Slake's loss recognized on the February 13 sale is $9,240 = total cost of 1,580 share purchased in the past - total amount collected from sales of these share = $49,240 - $40,000 = $9,240
His tax basis in purchase of 1,600 shares on Mar 2 is $43,000, the total cost he paid to acquire 1,600 shares
<span>falcon security is using the analysis for decision making. Knowing when and why the problems and failures of the drones and cameras occurred will help the employees in future to make decision (better and faster detect the problem and better maintain the equipment).</span>
Answer:
Sales Revenues 392,500
Sales Returns (20,000)
Freight outs <u> (9,700) </u>
Net Sales 362,800
Cost of good sold (221,000)
Gross profit 141,800
Operating Expenses
Rent expense (33,500)
nsurance expense (14,600)
Salaries and wages expense<u> (63,400) </u>
Operating Income 30,300
Income tax expense (4,300)
Net Income 26,000
Other comprehensive income 2,000
Comprehensive Income 28,000
Explanation:
the OCI is listed after-taxed thus do not change the total income tax expense
comprehensive income will be the sum of both concepts net income and OCI
Answer:
Nike company follows brand recognition marketing strategy.
Nike focuses on market trends rather than product features.
Explanation:
Nike has great brand image among its customers. It focusses on its brand and launches new products with heavy R&D experiences. The management of Nike focus on market orientation rather than product orientation. It identifies the market trends and then customizes its product according to customers needs.
Answer:
b. Property tax revenue for an amount deferred because it was not available
Explanation:
Government statement of activities shows the various expenses and revenue that the government has within a given period. It is usually on accrual basis.
While statement of revenues, expenditure and change in fund shows revenue and expense items that have been incurred by the government. This is not based on accrual but actual revenue earned and expense incurred.
So property tax revenue for an amount deferred because it was not available. Will appear on government statement of activities but will not appear in statement of revenue, expense, and change of funds because no present revenue or expense is involved.
