Answer:
A periodic inventory method is a method where the inventory account is adjusted at the end of each accounting period and not continuously as with the perpetual method. All inventory purchased is recorded to a purchases account. Cost of goods sold is calculated by adding purchases to beginning inventory and then subtracting ending inventory. The following journal entries are examples of how to account for inventory under a periodic management method.
explanation:
Answer:
The total monthly payments that are deductible by Duron are:
$1,200 each month for the next 10 years.
Explanation:
According to the IRS rules, if Duron pays his ex partner payments each month which are not documented by the court, the money is not tax deductible. Therefore, it is beneficial for Duron to receive a court order to pay the additional alimony if Duron plans on enjoying a tax deduction for the additional spousal support of $200.
Answer:
1. Supply will decrease
Explanation:
Due to the basic economic principle that when supply superceeds the demand for goods and services, the prices of such goods and services fall. As a result of this, and an expected increase in future prices, the supply of coffee beans by coffee merchants to the markets will decrease.
This is because the merchants want to receive higher profits and to do so, they will withhold supply to sell in the next six months when the price is higher.
Answer:
We should not lower taxes for the wealthiest Americans because they own and run a lot of companies and businesses that we use. Lower income Americans want their leaders to understand or know what it’s like to be less wealthy so they’ll be more sympathetic towards lower income people and won’t do everything out of the want for more money. If they have to pay lower taxes, then that takes away from their ability to sympathize with lower income homes, and that would upset a lot of people.
Answer:
company must borrow = $66,000
Explanation:
given data
beginning cash balance = $40000
expects cash disbursements = $300000
cash receipts = $240000
ending cash balance = $42000
to find out
company must borrow
solution
first we get here Ending Balance that will be as
Ending Balance = beginning cash balance + cash receipts - expects cash disbursements ..................1
put here value we get
Ending Balance = $40000 + $240000 - $300000
Ending Balance = -$24000
so company must borrow = $42,000 + $24,000
company must borrow = $66,000
