Which of the following is the objective of life insurance?

What is meant by "tax allocation within a period"? What is the justification for such practices?

Dima020 [189]

Answer:

Tax allocation within a period is the practice of allocating the income tax for a period to such items as income before extraordinary items, extraordinary items and period adjustments.

Explanation:

The justification for tax allocation within a period is to produce financial statements which disclose an appropriate relationship of the different taxable income.

6 0

3 years ago

Shaffer Corporation issued 180, $1,000, 10% convertible bonds in 2019 at face value. Each bond is convertible into 100 shares of

Vlad1618 [11]

Answer:

$1.71 per share

Explanation:

Earning per share is the per share rate of net earning for the period after deducting any preferred dividend. We use average common shares outstanding to calculate the Basic EPS. Formula for the Basic EPS is as follow:

Basic EPS = ( Net Income - Preferred Dividend ) / average common shares outstanding

As we do not have any preferred share, placing value in the formula

Basic EPS = ( $3,100,800 - $0 ) / 1,818,000

Basic EPS = $1.71 per share

The convertible bonds are incorporated in the calculation of diluted earning per share.

7 0

3 years ago

The Breeze trading company discloses the following information for the month of August 2016.

s344n2d4d5 [400]

Answer:

Periodic system: FIFO ; COGS= $11400, closing inventory = $7700, gross profit=$14000. LIFO = closing stock= 6600, COGS=$12500, gross profit=12900.

perpetual system: FIFO ;COGS=11400, closing stock= $7700, gross profit= $11400. LIFO ; COGS=$12500, closing stock= $6600, gross profit = $12900

Reason for a higher gross profit in FIFO than LIFO is some of the stock ends up not being sold as they are maybe old, out-fashioned, and obviously new trend come about everyday.

Explanation:

PERIODIC

DR purchases account CR

11-Aug bank 9600 inventory 16100

20-Aug bank 6500

16100 16100

FIFA cost of sales

opening balance 3000

purchases 16100

closing 7700

cost of sales 11400

gross profit 14000

sales 25400

cost of sales 11400

closing inventory 7700

200 units from 11 aug 1200

1000 units from 20 aug 6500

LIFO

closing balance 6600

600 units from 01 aug 3000

600 units from 11 aug 3600

Cost of sales

opening stock 3000

purchases 16100

closing stock 6600

cost of sales 12500

gross profit 12900

sales 25400

cost of sales 12500

perpetual inventory system

FIFA

cost of sales 11400

10-Aug 2000

15-Aug 5800

27-Aug 3600

3 0

4 years ago

Simple difinition of organized

svp [43]

Answer:

Make arrangements or preparations for (an event or activity)

5 0

3 years ago

How can you change your name

marshall27 [118]

If you are talking about Brainly i don't think you can :)

8 0

3 years ago

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