Which of the following is not a fixed cost? *

Nishi Corporation prepares financial statements for each month-end. As part of its accounting process, estimated income taxes ar

choli [55]

Answer:

1. $4,100

2a. Dr Income tax Expense $4,100

Cr Income tax payable $4,100

2b. Dr Income tax payable $33,926

Cr Cash $33,926

Explanation:

1. Calculation to Determine the amount of the accounting adjustment

Income tax payable for quarter 4 $33,926

Less: Unadjusted balance in Income tax payable account $29,826

Accounting adjustment to be done as on Dec 31 $4,100

2a. Preparation of journal entries to record December 31

Adjustment to the Income as on Dec 31

Dr Income tax Expense $4,100

Cr Income tax payable $4,100

2b. Preparation of the Journal entry to record later January 20 payment of the fourth-quarter taxes.

January 20 payment of the fourth-quarter taxes.

Dr Income tax payable $33,926

Cr Cash $33,926

3 0

3 years ago

Mrs. Larkin rents an apartment to a couple who argue continually, disturbing other tenants. Without going through the lawful evi

natima [27]

Answer:

B. an actual eviction

Explanation:

Actual eviction -

It refers to the process of getting rid of the tenant by the landlord, for any violation, is referred to as actual eviction.

It is a completely legal practice, where it the landlord is not not comfortable with the tenant or if the tenant violates any rules, then the landlord has the legal right to remove the person.

Hence, from the given question,

As the tenant usually disturbs the neighbors and argues, hence the landlady, Mrs, Larkin has the right to remove them, according to actual eviction.

6 0

3 years ago

This card works like a short-term loan? <br> A. debit<br> B. credit

azamat

A loan is where you ask for money and then pay it back later.
This is like a credit card since you can buy things and then pay the credit card bill at the end of the month.

4 0

3 years ago

Read 2 more answers

For Gundy Company, units to be produced are 5,280 in quarter 1 and 6,400 in quarter 2. It takes 2.0 hours to make a finished uni

Lorico [155]

Answer:

Total cost= $350,400

Explanation:

Giving the following information:

For Gundy Company, units to be produced are 5,280 in quarter 1 and 6,400 in quarter 2. It takes 2.0 hours to make a finished unit, and the expected hourly wage rate is $15 per hour.

Quarter 1:

Direct labor cost= 5,280*2= 10,560 hours

Quarter 2:

Direct labor cost= 6,400*2= 12,800 hours

Total cost= (10,560 + 12,800)*15= $350,400

7 0

3 years ago

Assume that a piece of land is currently valued at $50,000. If this piece of land is expected to appreciate at an annual rate of

Luda [366]

Answer:

The correct answer is $132,664.89.

Explanation:

According to the scenario, the given data are as follows:

Present value (PV) = $50,000

Rate of interest (r) = 5%

Time period (n) = 20 Years

So, we can calculate future value by using following formula:

Future value = PV × (1 + r)^(n)

= $50000 × ( 1 + 5% )^20

= $50000 × (1 + 0.05)^20

= $132,664.89

Hence, After 20 years land will be worth $132,664.89.

5 0

3 years ago