Answer:
$10,000
Explanation:
Based on the information given we were told that the government contribution to the pension plan was the amount of $10,000 for year 1 which simply means the amount of $10,000 will be the pension expenditure for the general fund for year 1.
Therefore the pension expenditure for the general fund for year 1 will be $10,000.
Answer:
Non-controlling interest in net income decreased would have by $6,000
Explanation:
The computation of net income is shown below:-
Profit on Intra-Entity Sales = Revenue - Cost of goods sold
= $200,000 - $140,000
= $60,000
Profit on Intra-Entity Sales × 25% still in Ending Inventory
= $60,000 × 25%
= $15,000
Adjustment to Net Income × 40% for Non-controlling Interest
= $200,000 × 25% × 30% × 40%
= $6,000
Net profits will go decline by $6,000
Answer:
$12,280,000.
Explanation:
All the direct costs involved in the manufacturing of a product except fixed cost is called prime cost e.g direct material, direct labor etc.
Direct Material = $4,200,000
Direct labor = $8,080,000
Total Prime cost = Direct material + Direct labor = $4,200,000 + $8,080,000 = $12,280,000
Overhead costs are not classified as the prime cost because these are indirect costs.
True, profits of a large corporation are taxed twice, once a corporate income and again as personal income of stockholders. This is because the corporation is taxed when they earn the profit but then the stockholders are taxed as it is paid out as income/earnings.
