Answer:
C. Debit Cash $1, 385: credit sales $1, 300: credit Cash Over and Short $85.
Explanation:
Based on the information given The proper entry to account for this excess is:
Debit Cash $1,385
Credit Sales $1,300
Credit Cash Over and Short $85
($1,385-$1,300)
Answer:
Total cost recovery deduction = 1251450
Explanation:
Given the seven-year class asset bought by the Sid = $1500000
On 2nd December the five-year class asset bought = $900000
Now we have to find the cost recovery deduction for 2020.
900000/(900000 + 1500000) = 37.5% Thus, use half-year convention and avoid mid quarter
1500000 – 1,000,000 (Sec 179 limit) = 500000
500000 x 14.29% = 71450
900,000 x 20% = 180,000
1,000,000 + 71450 + 180,000
Cost recovery for 7 year asset = 1,071450
Cost recovery 5 year asset = 180000
Total cost recovery deduction = 1251450
Answer:
Explanation:
The formula for GDP is
GDP = C + I + G + NX
C = consumption
I = Investment by business and household purchases by individuals
G = Government Expenditures
NX = foreign trade.
The first thing you can do is knock out foreign trade.
I think you can dispense with Government expenditures as well all though a school is an arm of government.
I think investment is what you have to look at carefully because it does include charitable organizations. We'll come back to this.
Consumption is what it sounds like it sounds.
You can't answer this in any other way than to know how the company writes it off. It is an asset that goes from some value to 0. It no longer exists on their books. So it decreases their assets. It is balanced on their books by calling it an expense I think and that further has impact on their books.
So they are decreasing their value (albeit by a small amount -- they've already bought new computers).
I'm not sure about this, but I think what has happened is that the GDP is going to go down. Their investment has decreased by being written off.
In The Lord Of The Flies, Jack basically convinces himself that he killed the beast and not simon, and in an example of mob mentality Piggy, Ralph, Sam and Eric all just go along with it even though they feel guilty and seem to acknowledge that they did know it was simon they were killing.
Answer:
Minimum selling price is $ 37
Explanation:
Computation of minimum selling price
Direct materials per unit $ 15
Direct labour per unit - existing $ 19
Additional for modification <u>$ 3</u>
Direct Labor per unit <u>$ 22</u>
Variable cost per unit $ 37
Since the Company has sufficient idle capacity to produce the additional order, no incremental fixed manufacturing capacity is considered.
The minimum selling price should be one which covers the variable costs ( modified for labor increase)
