Answer:
The correct answer is $22,590.
Explanation:
According to the scenario, the given data are as follows:
Sale value = $850
Sale unit = 30 units
So, Total sale value = $850 × 30 = $ 25,500
Now, Commission on sale = $25,500 × 6% = $1,530
So, we can calculate the amount cash received by famous furniture by using following formula:
Cash received = Total sale value - Commission value - Advertising cost - Setup cost
= $25,500 - $1,530 - $600 - $780
= $22,590
Answer:
The Coronado`s Retaining Earnings Balance is at end of 2022 is $ 808 000
Explanation:
Retained Earnings at the end of the year is calculated by adding together The Retained Earning at the Beginning of the Period, the Distributive Profit for the year ( Profit for the year after Interest and tax), then subtracting the dividends paid during the year.
From the question Retained Earnings at the Beginning of the year was provided at $661000.
The Distributive Profit needed a calculation. Revenue minus Expenses gives us profit.Expenses here include ALL trading, operating interest and tax expenses. This give is a Distributive Profit of $ 284000 ( $621000-337000). The $1011000 is disregard in calculation of profit and only Revenues that match with expenses are regarded (Accrual Principle).
The dividend paid was provided for at $ 137000.
This the Retained Earnings figure at end of 2020 is $808000( 661000+284000-137000)
Answer:
what?
Explanation:
give me 5 stars and thanks
if you are not gonna ask a good question xd
Answer:
Joey can claim as an adjustment to income on Schedule 1, line 13:
d. $0
Explanation:
Joey cannot claim any adjustment to his income because moving expenses are no longer tax-deductible based on the new Tax Cuts and Jobs Act, 2017. Instead of making any adjustment claim, the reimbursement by Joey's employer of his moving expenses to the tune of $1,250 will be included in his income and taxed. Before the new tax law, moving expenses were an adjustment to the adjusted gross income, not an itemized deduction.
Answer:
The answer is given below;
Explanation:
1.$6,000,000/120,000=$50*25,000=$1,250,000
2.this method is called units of digits method for depletion.
The accounting treatment shall be;
Depletion Expense Dr.$1,250,000
Accumulated Depletion Cr.$1,250,000
When the asset will retire, the accumulated depletion will be eliminated with corresponding effect to mine
