All you gotta do is have two answers first, and then choose which answer you find is the best or most helpful, and there will be a crown in the corner somewhere.
Answer:
The correct answer is C.
Explanation:
Giving the following information:
Direct materials used $5,000
Direct Labor 7,000
Total Factory overhead 5,100
Beginning work in process 3,000
Ending work in process 4,000
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 3,000 + 5,000 + 7,000 + 5,100 - 4,000= $16,100
Answer: $61,500
Explanation:
Jerry's adjusted basis in his partnership interest at the end of the year is determined by adding his cash contributions, long-term capital gain, and qualified dividends to the original tax basis.
There will also be deductions of the non-deductible expenses, ordinary loss and his share of the reduction in partnership debt.
Jerry's adjusted basis at the end of the year = ( 44,000 + 26,000 + 3,600 4,600) - ( 2,100 + 9,000 + 5,600)
= 78,200 - 16,700
= $61,500
Answer:
corporation income is also subject to what is called “double taxation,” when the income of the business is distributed to the owners in the form of dividends, because dividends are taxable.
