Answer:
The correct answer is $23,600.
Explanation:
According to the scenario, computation of the given data are as follows:
Pretax financial income = $173,000
Taxable income =$118,000
Tax rate = 20%
So, we can calculate the income taxes payable by using following formula:
Income taxes payable = Taxable income × Tax rate
= $118,000 × 20%
= $23,600
Hence, the amount to be reported as income taxes payable at December 31, 2020 is $23,600.
Answer:
approximately correct and reliable
Explanation:
Remember, product costing is a summation of the cost incurred from the manufacturing process.
Direct material usage of product X implies; the value of the parts that go directly into producing products.
While the Manufacturing overhead costs are the cost that are factory-related which are incurred when producing a product, such as the cost of machinery and the cost to operate the machinery.
If the total <u>direct materials cost </u>and the <u>manufacturing overhead </u> are known, then the accountant could estimate the fraction used by Product X.
Answer:
maximize profits.
Explanation:
Th economist assume that the goal of objective of the business is to maximize the profit and add value to their business and shareholders as well. The businesses use marginal benefit and marginal cost to measure the value of benefit. Business also has other objectives which support the profit maximization like cost minimization, customer satisfaction etc
Answer:
D. A debit card is approved electronically while checks are not.
Explanation:
A check can take days to clear the bank are not verified when given to the store.
Answer:
Performance
Explanation:
The ultimate responsibility of the manager is to accomplish the high performance that represent the attainment of the organization goals via using the resources in a best way i.e. efficient and effective manner
So the responsibility of the manager is to accomplish the high performance so that the company could attain its goals and objectives