Answer:
The total income tax expense for 2019 =152.000. Is not available in the options given by the exercise.
Explanation:
- Tax on insurance expense deductible for accounting purposes in 2019= 70000*40%=28.000
- Income tax expense for 2019 = 180.000-28.000=152.000
Answer: D because it is D
Answer:The answer is passbook
Explanation:
savings Account is the most common form of bank account for the low income earners, The main objective of savings account is to encourage people to form a habit of savings. This type of bank account is operated with the use of passbook and interest is paid to the owners of this account. The amount used in opening a savings account vary from banks to banks, the interest payable on the account to owners of the account also varies from banks to banks.
This account has two maximum number of times in a month that the owners can withdraw money from the account, if withdrawals are more than twice in a month, it means the owners is operating it like current account and will therefore not attract any interest in that month.The interest on this type of account is calculated either monthly,quarterly, or yearly.
Answer:
E) A sharp increase in its forecasted sales.
Explanation:
Haven developed a forecasting model to estimate its AFN for the upcoming year, F. Marston, Inc. would have an increase in the additional funds needed (AFN) due to the sharp increase in its forecasted sales.
An increase in sales translates to an increased cash flow and profits.
Answer:
A. Dr Cash $327,500
Cr Common Stock $210,000
Cr Capital Paid In $117,500
B. Dr Cash $90,000
Cr Common Stock $90,000
C. Dr Inventory $59,000
Dr Machinery $185,000
Cr Note Payable $95,000
Cr Common Stock $80,000
Cr Capital Paid In $69,000
Explanation:
Preparation of the issuer's journal entry
A. Dr Cash $327,500
Cr Common Stock $210,000
(52,500 shares* $4 par value )
Cr Capital Paid In $117,500
($327,500-$210,000)
B. Dr Cash $90,000
Cr Common Stock $90,000
C. Dr Inventory $59,000
Dr Machinery $185,000
Cr Note Payable $95,000
Cr Common Stock (4000 * $20) $80,000
Cr Capital Paid In $69,000
($59,000+$185,000-$95,000-$80,000)