The loan period does not affect the total cost of the loan

Mary signed up and paid $1,260 for a 6 month ceramics course on June 1st with Choplet Ceramics. As of August 1st, Choplet’s acco

Karo-lina-s [1.5K]

Answer:

$420 of revenue, $840 of deferred revenue

Explanation:

Data provided in the question

Paid amount = $1,260

Given months = 6 months

Number of months = 2 months

For two months, the revenue is

= Paid amount × number of months ÷ given months

= $1,260 × 2 months ÷ 6 months

= $420

Now the deferred revenue is

= Paid amount - revenue

= $1,260 - $420

= $840

Hence, the revenue is $420 and the deferred revenue is $840

6 0

3 years ago

At the beginning of the current year, Sandy Brewer had a zero basis in her 38 shares of stock in Lindlee, an S corporation, a ze

Alona [7]

Answer:

As in her worthless note,Sandy has a zero adjusted basis. Her bad debt deduction is Nil according to Section 166 (b).

Section 166(g)(1) states that her capital loss realized on the deemed sale of this stoke is also nil because of zero adjusted basis in her worthless stock.

According to Reg. Sec.1.1366-2(a)(5) if all of her stock is disposed by an S corporation shareholder and loss carryforward attributable to the Section 1366 (d) basis. Limitaitons are permanently disaalowed.

Hence, her $7,400 ordinary loss carryforward can never be deducted by Sandy.

Sandy has no 2012 tax consequences from worthlessness of her Lindlee investments

7 0

3 years ago

Read 2 more answers

Drag the tiles to the correct boxes to complete the pairs. Match the profession to its description Tiles real estate broker tax

amid [387]

meet customers to determine their risk profiles

and recommend different types of insurance

to mitigate those risks>insurance sales agent

help individuals and families manage and grow

their money>personal finance manager

help clients buy, sell, and rent properties>real estate broker

manage their clients’ taxes>tax accountant

4 0

3 years ago

Daniel Company uses a periodic inventory system. Data for the current year: beginning merchandise inventory (ending inventory De

Maslowich

Answer:

Results are below.

Explanation:

<u>Under FIFO (first-in, first-out), the cost of goods sold is calculated using the cost of the firsts units incorporated into inventory.</u>

COGS= 2,000*38 + 6,200*40= $324,000

Income statement:

Sales= 8,200*75= 615,000

COGS= (324,000)

Gross profit= 291,000

Tax= (291,000*0.3)= (87,300)

Net operating income= 203,700

<u>Under the LIFO (last-in, first-out), the cost of goods sold is calculated using the cost of the lasts units incorporated into inventory.</u>

COGS= 8,000*40 + 200*38= $327,600

Income statement:

Sales= 615,000

COGS= (327,600)

Gross profit= 287,400

Tax= (287,400*0.3)= (86,220)

Net operating income= $201,180

7 0

3 years ago

The impact of globalization on human resource planning

LUCKY_DIMON [66]

Answer:

The answer is below

Explanation:

The impact of globalization on human resource planning is both positive and negative depending on the point of view it is being looked upon.

Some of which are:

1. Globalization has led to firms and organizations to recruit from far and wide, across nations if needed.

2. It has reduced the cost of traveling and goods and services deliveries

3. It has led to increasing firms reducing the cost of maintaining staff as individual contractors have increased due to the opportunity of remote jobs caused by globalization.

4. The human resources planning has been impacted by globalization such that, many staff has been retrenched.

5. Globalization has also caused brain drain to developing nations in terms of human resource planning.

4 0

3 years ago