Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
1. Insurance expense for 6 months = 12,960 x 6/36
= $2,160
Prepaid insurance on December 31, 2021 = 12,960 - 2,160
= $10,800
2.Interest expense for 2 months = 220,000 x 12% x 2/12
= $4,400
Kindly comment if you need further assistance. Thanks
Answer:
The total manufacturing cost per unit is $10.50
Explanation:
Material cost per unit = Total material cost / Equivalent units of Material cost
Material cost per unit = $60,000 / 10,000 = $6 per unit
Conversion cost per unit = Total Conversion cost / Equivalent units of conversion cost
Conversion cost per unit = $90,000 / 20,000 = $4.5 per unit
Total Manufacturing cost = $6 + $4.50 = $10.50 per unit
There is no change in money supply and the reserves of your bank decline
The following corporations is allowed to make an S corporation election is a U.S. corporation owned and operated by two U.S. citizens (individuals).
Option C
Explanation:
A Controlled Foreign Corporation (CFC) is a U.S. corporation which has 50 percent or more of its control overseas with U.S. shareholders. You have to report your income from the foreign corporation, and of course, pay tax on that income if you are a U.S. shareholder, director or director of any of those companies.
A managed corporation shall be determined by the number of shares held by U.S. citizens. A business with fewer international owners than the required number is considered independent rather than regulated.
Answer: C average
Explanation: i jus did this lol
