Answer:
The correct answer is letter "B": either the adjusted trial balance or the Income Statement columns of the end-of-period spreadsheet.
Explanation:
The Income Statement is a report that evaluates the financial performance of a company for a given accounting period. The Income Statement shows a company's revenues, expenses, and net profit from both operating and non-operating activities. It lists the company's net sales, cost of sales, selling, administrative expenses, extraordinary items and other income or expenses which helps to reveal the firm's gross profit, operating profit, pre-tax profit, and after-tax profit.
The Adjusted Trial Balance is the result of computing all the accounts from all general ledgers to find out if the frim's debits equal its credits. The income statement can be prepared from this document or the very same Income Statement columns by the end of the period.
Answer:
FUTA = $168
SUTA = $1,866.24
Explanation:
As per the data given in the question,
FUTA
= $7,000 × 4 employees × 0.6% = $168
SUTA
Gilfin, Laubach and Loftin earning excess = $14,000
So, will take maximum $14,000 for each of them
Moravec is less than $14,000 therefore will take the actual amount
Earnings = ($14,000 × 3 × 3.6%) + ($9,840 × 3.6%)
=$1,866.24
<span>After 4 years of college, it would be better to not go to college. Since his high school job was paying $25,000 a year ($100,000 in four years), and going to college cost $20,500 ($82,000 in four years), after those four years he would still have over $18,000 to spend at his leisure, or $4,500 every year. This leftover money can be used to find a place for rent for at least $375.</span>
Answer:
the cost of ending inventory is $1,680
Explanation:
The computation of the cost of ending inventory is shown below:
But first determine the ending units
Ending inventory units is
= 30 units + 34 units + 61 units + 160 units -271 units
= 14 units
Now
The Cost of ending inventory is
= 14 units × $120
= $1,680
hence, the cost of ending inventory is $1,680
And, the same is to be considered