Answer:
$0
Explanation:
In this method, the transaction reporting will be performed on an accrual basis which means whether or not the payment is paid but it is reported in the account books.
Once the expenditure is incurred or the revenues is earned the same is to be recorded in the books of accounts whether cash paid or not and in case of revenues whether cash received or not
In the given case, the Canon corporation sells on October 15 so it would be recorded on October itself .
Therefore, no revenue would be recognized on the month of November
Answer:
$162,000
Explanation:
Income Statement - New Offer
Sales (27,000 x $17) $459,000
Less Variable Costs of the offer :
Variable manufacturing costs (27,000 x $11) ($297,000)
Net Income (Loss) $162,000
therefore,
the amount of income from the acceptance of the offer is $162,000
<u>Answer:</u>
<em>Purchased items or extracted materials that will be transformed into components or products are called (</em><u><em>A) Raw materials inventory
</em></u>
<u>Explanation:</u>
Raw materials inventory is the complete expense of all segment parts at present in stock, which is not in use, therefore, a continuous process or completed stock creation. There are two subcategories of crude materials, which are direct materials. These are materials fused into the last item.
Raw materials may at times be announced out of date, perhaps because they are never again utilized in organization items, or because they have debased while away, thus can never still be used
Answer:
The correct answer is option D
D. The 14-year non-renewable terms for governors effectively insulate the Board of Governors from political pressure
Explanation: Option D is incorrect regarding federal reserve independence.
Answer: Harrison will acknowledge a gain equal to the difference between his basis and the distribution . This is because he receives only money in the distribution and the amount transcend his basis in KH. He further allot his entire basis in KH to the basis in the money received resulting in $0 basis in KH after the distribution.
∴ <em>The capital gain will be $6000 i.e. (50000 - 44000) and $0 basis.</em>
