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3 years ago

Henry and claudia can claim alyssa for which tax benefits

1 answer:

34kurt3 years ago

6 0

Considering that Alyssa is their young daughter, United States has an astounding number of tax credits and deductions that are geared towards taxpayers with children, they could claim: Credits, Deductions, exemption, Education Benefits, Education Deductions, and Education Credits, among others.

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Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that

geniusboy [140]

Answer:

Explanation:

Beginning WIP inventory 74000

Add: Units started during May 390000

Less: Ending inventory 34000

Units completed and transferred 430000

1 Equivalent Units

Whole units Materials Conversion

Beginning WIP inventory 74000 74000 74000

Started & completed 356000 356000 356000

Ending inventory 34000 23800 10200

Units accounted for 464000 453800 440200

Materials Conversion

Equivalent units of production 453800 440200

Cost Data: Total Material Conversion

Beginning WIP inventory 142800 98800 44000

Current costs 755960 513830 242130

Total cost to account for 898760 612630 286130

Divided by Equivalent units 453800 440200

Cost per Equivalent unit 2.00 1.35 0.65

Materials Conversion

Cost per Equivalent unit 1.35 0.65

Cost Assignment:

Ending Work in process:

Material 32130

Conversion 6630

Total Ending Work in process 38760

Cost of units completed and transferred

Material 580500

Conversion 279500

Total 860000

Cost to be accounted for:

Beginning WIP inventory 142800

Current costs 755960

Total costs to be accounted for 898760

Cost accounted for as follws:

Cost of units completed and transferred 860000

Cost of ending work in process 38760

Total costs accounted for 898760

6 0

3 years ago

Identify the internal control weakness in the following situations. State how the person can hurt the company.

Degger [83]

Answer:

Identification of the Internal Control Weaknesses:

A. There is no segregation of duties and there is lack of access control. Jerry Miller as a security guard is not expected to have a master key to the cash box. With this he can pilfer the cash. If he prepares the report that shows the number of cars that parked on the lot, he is not supposed to also prepare the day's cash receipts. Otherwise, he can state any number of cars as parked that he likes, and which corresponds to the cash he might leave in the Cash box since he also has a master key.

B. There is no segregation of duties and there is lack of supervision, proper reconciliations, and assets audit. Sharon Fisher handles purchase transactions from the beginning to the close all alone with a third party. This exposes the company to procurement frauds and collusion with suppliers. She can purchase assets for the company at prices that would enrich her personally.

C. Forming an audit opinion on the basis of ratio analysis of last year's comparative financial statements exposes the company to audit risks. While ratio analysis is part of the basis for forming audit opinions, it is surely not the first audit procedure to obtain audit evidence to support his audit opinion on the financial statements. An auditor is expected to obtain sufficient audit evidence and perform audit substantive tests of financial statement assertions. He or she is also expected to review the internal control system to ensure that it is operating effectively after establishing its existence and reviewing changes in internal controls.

Explanation:

Internal Controls are controls established by management in order to help it achieve business goals. There are many internal controls, including Separation of Duties, Access Controls , Authorization and Approvals, Asset Audits, Reconciliations, and Data Backups. The purposes of internal controls are to establish the reliability of financial reporting, ensure timely feedback on the achievement of operational or strategic goals, and achieve compliance with financial management laws, and accounting regulations.

4 0

3 years ago

Label each of the items listed with the abbreviation of the financial statement on which it appears. Items may appear on more th

Zinaida [17]

1. Accounts receivable are found on the balance sheet.

2. Notes payable are found on the balance sheet.

3. Advertising expense is found on income statement

4 0

3 years ago

Read 2 more answers

As mario is filling out his income tax forms, he makes the decision not to report all of his income. he figures that it is okay

Roman55 [17]

Mario is exhibiting the defense mechanism: rationalization. Mario justifies his controversial decision and behavior (his decision not to report all of his income) in rational or logical manner. This defense mechanism has two steps. The first step is the <span>decision itself with no reason, and the second step is when the <span>rationalization is performed</span></span> .

6 0

3 years ago

Identify when change management is not requiredChange in leadershipTime of crisisChange in organizational cultureEvent managemen

djyliett [7]

Answer:

brainstorming method i choose this because no one can judge on what i suggest because sometimes i feel so underestimated

5 0

3 years ago