Answer:
The trial balance of Kacy Spade showed total of $12,726 on both debit and credit as found in the attached spreadsheet
Explanation:
In preparing the trial balance, I showed the earlier postings into ledgers for those accounts that had more one transaction and I showed those ones with just a transaction in the trial balance colored-coded in yellow.
Trial balance tests the arithmetical accuracy of postings done in the ledgers by summarizing the ledgers' balances in the trial balance.
Answer: a. $180,000
Explanation: Given that the fair market value of the 5000 shares of stock was $180,000 at that time; Pat should include this in information with proof of it's fair value at the time in schedule A of the form
Answer:
Increase by 420.000$
Explanation:
Company's annual revenue at this level is: 75.000*440 = 33.000.000$. Total variable expenses are 280*75000= 21.000.000$. Total fixed expenses are 1.020.000$ making its annual profit equal to 10.980.000$. As regular sales won't be affected with the special order, and since company does not uses its entire production capacity, we can treat fixed costs as non-reimbursable costs. Therefore, we only observe relations of variable costs and income.
With price of 340$ per unit, total income is 2.380.000$ and total variable costs are 1.960.000$. The difference is 420.000$ and relates to the increase in profit in terms of non-used total production capacity.
About 543,000 businesses start each month
So, 543,000x12
About 6,516,000 businesses start each year
I think b is the correct answer
