Answer:
The Preparation of an income statement for the month of June is shown below:-
Explanation:
Windsor Inc
Retained Earnings Statement
For the year ending June 30,2017
Revenues
Service revenues $7,730
Expenses
Advertisement Expenses $400
Supplies expenses $1,100
Maintenance and repair expenses $700
Utilities expenses $200
Salaries and Wages expenses $1,630
Total Expenses $4,030
Net Income (Loss) $3,700
Answer:
The transaction allows a seller to take pride in its product
Explanation:
Have a good one!
Answer:
$200
Explanation:
The adjusted basis is the value given to an asset (and used by the IRS) when you have to determine any capital gain or loss resulting from its sale. It should generally be the original cost of purchasing that asset.
§351 allows corporations to defer taxes from capital gains (or losses) resulting from the transfer of property in exchange for stocks.
Corporation's tax basis = $200
Answer:
$1960
Explanation:
The computation of the total cost is shown below:
Total variable overhead estimated is
= (4 × 31400)
= $125600
Now
total overhead estimated is
= Total variable overhead estimated + Total fixed overhead estimated
= $125600 + 219800
= $345400
Now predetermined overhead rate is
= $345400 ÷ 31400
= $11 per machine hour
Now total overhead applied is
= (11 × 20)
= $220
So, total job cost is
= Direct material + Direct labor + Total overhead
= (580+1160+220)
= $1960
