Answer:
A) an earmark.
Explanation:
An earmark -
It refers to the monetary value spend for establishing or building some particular institution , project , museum , is referred to as an earmark .
The earmark also work as a tool for the process of any deal or negotiation .
Hence , from the given scenario of the question ,
The correct option is A) an earmark .
Answer:
a. Calculate the balance in retained earnings at the time of the change (beginning of 2017) as it would have been reported had FIFO been previously used.
b. Prepare the journal entry to record the change in accounting principle at the beginning of 2017.
- Dr Inventory 80,000
- Cr Income taxes payable 16,800
- Cr Retained earnings 63,200
Explanation:
inventory under FIFO would have been $80,000 higher, that means that COGS were overstated by $80,000 and net earnings were understated by $80,000.
retained earnings 2016 = $1,750,000
tax rate 21%
Dr Inventory 80,000
Income taxes payable 16,800
Retained earnings 63,200
Retained earnings = $1,750,000 + $63,200 = $1,813,200
When companies change from LIFO to FIFO, they must adjust their income statement and balance sheet in a prospective way because it will affect the future value of their accounts. But when a company changes from FIFO to LIFO, no adjustment is required.
Answer: Option C
Explanation: Planning in management refers to the process in which the managers focuses on determining the goals of the company and ascertaining the need of resources needed to achieve those goals. It is the first step in the management process.
It is focused on allocating the resources to different departments and sections as per the needs, so that the objectives of the organisation could be achieved.
Thus, from the above we can conclude that the correct option is C.
Answer:
C. WIP InventoryminusMolding
Explanation:
Crediting is the amount or the items leaving the account, so since the Molding inventory is the one letting go of things, this is in the positive part of the T graph, so since it is having a credit, since it is providing it, the C. WIP InventoryminusMolding is the one that is being credited, on the other hand you should debit the WIP InventoryminusColoring since it is the one receiving the products.
<h3>The following are the results of President Trump's tax law:</h3>
- Reduced medical expenses for workers with low incomes.
- Companies were encouraged to fill full-time positions as a result.
- Government spending on low-income families grew as a result.
<h3>Who was Donald trump?</h3>
- Donald John Trump, an American politician, media figure, and businessman, was the 45th president of the United States from 2017 to 2021.
- He was born on June 14, 1946. In 1968, Trump earned a bachelor's degree from the University of Pennsylvania's Wharton School.
- In 1971, he took over as president of the real estate firm owned by his father, Fred Trump, and changed its name to The Trump Organization.
- Building and remodeling skyscrapers, hotels, casinos, and golf courses were part of Trump's business expansion.
<h3>Is a tax legislation?</h3>
- The procedure by which a proposed tax rule or tax reform may become law in the United States is known as formal tax legislation.
- The U.S. Constitution outlines precise processes that formal tax legislation must take.
Learn more about tax legislation here:
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