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Answer:
c. unethical and illegal, because their actions constituted theft from the airlines
Explanation:
The Sandersons' behavior was unethical and illegal, because their actions constituted theft from the airlines
Answer:
Option (a) is correct.
Explanation:
Total income:
= Ordinary Income + Tax-exempt income + Portfolio income
= $20,000 + $8,000 + $4,000
= $32,000
Gray is a 50% partner,
Share of Gray in income = 50% of Total income
= 50% × $32,000
= $16,000
Therefore, the Gray's tax basis in Fabco on December 31, year 4 is as follows:
= Gray's tax basis in Fabco on January 1, year 4 + Share of Gray in income
= $5,000 + $16,000
= $21,000
Answer:
Purchases= 19,650 pounds
Explanation:
Giving the following formula:
Production in units:
February= 20,100
March= 18,600
One pound of material is required for each finished unit.
The inventory of materials at the end of each month should equal 30% of the following month's production needs.
<u>To calculate the purchase of raw material for February, we need to use the following formula:</u>
Purchases= production + desired ending inventory - beginning inventory
Purchases= 20,100 + (18,600*0.3) - (20,100*0.3)
Purchases= 19,650 pounds