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2 years ago

The income statement of Dolan Corporation for 2012 included the following items:

Business

1 answer:

torisob [31]2 years ago

8 0

Answer:

C) $16,000.

Explanation:

cash paid for insurance premiums = total insurance expense + ending balance of prepaid insurance - beginning balance of prepaid insurance

cash paid for insurance premiums = $15,200 + $3,000 - $2,200 = $16,000

Generally when you purchase an insurance policy you can either pay every month or pay for several months in advance and get a discount. When you pay for several months in advance, you must debit prepaid insurance. Then as time passes, you must accrue insurance expense. For e.g. you pay $2,400 today for a 1 year insurance premium, and at the end of the month you will accrue $200 of insurance expense. But your cash payment was made today.

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HELP ASAP!! DUE TOMORROW!! WILL MARK AS BRAINLIEST IF ANSWERED NOW!!

Wewaii [24]

The student is very unrespectful in his writing

I would be sort of surprised from this email because it is written in a way where I most likely wouldn't be used to.

Based on the email, I would think this student is irresponsible and/or doesn't care enough about the work. He's only half committed to it.

4 0

3 years ago

During 2020, Leisel, a single taxpayer, operates a sole proprietorship in which she materially participates. Her proprietorship

spayn [35]

Answer:

i think it is $98,602

Explanation:

6 0

2 years ago

Maddy works at Burgers R Us. Her boss tells her that if she stays with the company for five years, she will receive a bonus of $

Sergeu [11.5K]

Answer:

$4,038

Explanation:

Present value (PV) is the current value of a future sum of money or stream of cash flows given a specified rate of return. Future cash flows are discounted at the discount rate, and the higher the discount rate, the lower the present value of the future cash flows.

Present Value = Future Value x (1/ ( 1 + interest rate ) ^ number of periods)

Present Value = 6,000 x (1/ ( 1 + 0.08) ^ 5)

Present Value = 6,000 x 0.68058

Present Value = $4,038

4 0

2 years ago

Mr. Boyd and Ms. Tuck decide to form a new corporation named BT Inc. Mr. Boyd transfers $10,000 cash and business inventory ($20

kicyunya [14]

Answer:

1. Mr Boyd's share = 400, Ms Tuck = 800

2. Mr Boyd's realised gain = $16,800, recognized gain = $0, basis = $13200

Ms Tuck's realized gain = $18500, gain recognized = 0, basis = $41500

Explanation:

Total share = $1200

Cash received from Mr Boyd = 10000

FMV from him = 20000

Total value = 30000

FMV of equipment from Ms Tuck = 60000

Total value from both of them = 60000 + 30000 = $90000

Number of share Mr Boyd is to receive = 1200x(30000/90000)

= 400

Number of share Ms Tuck is to receive

= 1200x(60000/90000)

= 800

<u>Mr Boyd's gains</u>

Cash received = 10000

FMV = 20000

Total = 30000

Adjusted basis = 3200

Total tax basis = 10000+3200

Gain realized = 30000-13200

= 16800

Gain realized = 0 because it is a non taxable exchange.

Mr Boyd's realised gain = $16800, recognised gain = $0, basis = $13200

<u>Ms Tuck</u>

FMV = 60000

Adjusted tax basis = 41500

Gain realized = 60000-41500

= 18500

Gain recognized = 0(non taxable exchange)

Ms Tuck's realized gain = $18500, recognized gain = $0, basis = $41500

the FMV basis of inventory = 20000

carryover basis = 3200

equipment basis FMV = 60000

carryover basis = 41500

note that no gain if equal to or more than 80 percent of the ownership of the stock in a non taxable exchange.

6 0

3 years ago

Joseph Juran provided guidance regarding how to conduct quality planning, quality control, and quality improvement. Which of the

Grace [21]

Answer:

b. work to identify root causes, not just symptoms.

Explanation:

The main thing on which Joseph Juran focused was on quality, how it could be improved in planning, and performing properly.

This provided for the quality controls, plans, improvements which could be made, but it did not work on finding the causes behind the lack that why it could not be achieved.

Accordingly it did not in manner focused on the finding the symptoms or root causes.

As it was focused on the action of now what can be done.

7 0

2 years ago