Answer:
Interest expense and a realized gain.
Explanation:
Given:
Crawford Inc. has bonds outstanding during a year in which the general (risk-free) rate of interest has risen. Crawford elected the fair value option for the bonds upon issuance.
Solution:
The company will report Interest expense and a realized gain for the bonds in its income statement for the year.
Answer: The correct answer is "A. research and development".
Research and development are <u>NOT</u> considered as one of the three primary functions that all organizations perform.
Explanation: The basic operating cycle of a company is buy-sell-collect-pay. In some cases, companies can produce the good they sell or directly re-sell it. This implies production, operation and marketing activities to increase sales and for an adequate control of these you need accounting.
Only in particular cases do companies engage in research and development, but it is not something basic.
Answer:
The largest tax deduction = $8,874 mileage method
Explanation:
mileage method = 15300*0.58 =$8,874
Actual Expense = $5,540 + 765 + 3,095 +165 +240 + 1000 = $10,805
business use % = 15300/(15300+5100)
= 15300/20400 = 0.75
Actual expense = $10,805 * 0.75 = $8,103.75
If the interest expense on loan for the Van is considered as an expense for profit and loss section in calculating Net income then
ACTUAL EXPENSE = $10,805 - $1000 = $9,805 * 0.75= $7,353.75
nonetheless Mileage method gives the largest deduction
Answer:
d. it is used to sell only products.
Explanation:
- The economic roles of advertising includes the values of the products and effects in the pricing and effects of the customers demands and the impacts on the business cycles.
- Includes mediums and legal source of the message that must be known and its a persuasiveness form of communication and can be used to gather data and opinion and is more than sale of a product.
