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3 years ago

An adjustment for Prepaid Rent would indicate the amount

1 answer:

7 0

The correct choice is letter B. expired. An adjustment for Prepaid Rent would indicate the amount is "Expired". Prepaid rent is your current asset account where the reports of the amount of future rent expense is paid in advance in the rental period. The amount reported is the amount that is not expired yet.

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A company had beginning inventory of 11 units at a cost of $17 each on March 1. On March 2, it purchased 11 units at $28 each. O

aliina [53]

Answer:

$583

Explanation:

Under the FIFO method, we considered the first unit first comes out

The computation of the cost of units sold for 26 units is shown below:

The 26 units are taken from

11 units at $17 each, 11 units at $28 each and the remaining 4 units i.e 26 units - 22 units taken at $22 each

So,

= 11 units × $17 + 11 units × $28 + 4 units × $22

= $187 + $308 + $88

= $583

7 0

2 years ago

4. When the actual price of a good is above its equilibrium market price, competition

earnstyle [38]

Answer:

Explanation:

Because naturally within a market the equilibrium price is trying to be reached, (besides price ceilings and floors imposed by the government), Sellers will naturally push the price downwards because they must compete with each other to make a living. Thus answer C. is correct.

4 0

2 years ago

Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2019 Christmas season and get married around

Tanzania [10]

Answer:

It would be better to get marry on 2019 that way they will saved in income taxes $138

Explanation:

We have to compare their two single taxable income

against marry filing jointly:

Martina:

15,000 - 12,200 standard deduction = 2,800

It willbe taxed at 10% = 280

Raphael:

45,000 - 12,200 standard = 32,800

It will be taxed 10% of 9,700 = 970

and 12% above: (32,800-9,700) x 12% = 2,772

total income tax for Raphael: 3,742

Total if married in 2020: 4,022

Jointly:

60,000 - 24,400 = 35,600 taxable income

it will be taxes at 10% for the first 19,400 = 1,940

and at 12% for the above: (35,600 - 19,400) x 12% = 1,944

Total: 3.884‬

Difference:

4,022 - 3,884 = 138

3 0

3 years ago

2. What has Calvina done wrong?

Nikolay [14]

Answer:

What are you talking about what is the rest of the question-to make it more since.

5 0

3 years ago

Quanti Co., a calendar year taxpayer, purchased small tools for $5,000 on December 21, 2016, representing the company's only pur

iris [78.8K]

Answer:

1 and a half months worth of depreciation

Explanation:

The advantage of starting to depreciate an asset purchased on December is that next year you will be able to depreciate it for a full year under MACRS. Generally, when you purchase an asset, you have to use the half year convention and your depreciation expense for the first year will be low compared to the second year. But if you start depreciating your asset in the current year, even if you purchased it on December and the depreciation expense is not that significant, the next year you will be able to depreciate it at the second year rate.

7 0

3 years ago