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vagabundo [1.1K]
3 years ago
10

On december 31, 2013, winston inc. has determined that it is more likely than not that $240,000 of a $600,000 deferred tax asset

will not be realized. the journal entry to record this reduction in asset value will include a
Business
1 answer:
nexus9112 [7]3 years ago
6 0
Will include a what?
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The maximum production of an oil refinery is 1400 barrels per day. The refinery can produce two types of fuel: gasoline and heat
qwelly [4]

Answer:

Maximum total profit = $4,800

Explanation:

When a business is faced with a problem of shortage of a resource which can be used to produced more than one product type, to maximize the use of the resource , the business should allocate it for production purpose in such a way that it maximizes the contribution per unit of the scare resource.

Therefore the Company should allocate the budget cost  to maximize the profit per production cost. This is done as follows:

Calculate the profit per budget cost and rank the product

                                              Gasoline      Heating oil

Profit per product cost         3/6=0.5                    4/8= 0.5

The two products produce the same profit per dollar of cost which is $0.5. So, they are equally ranked.

So the total profit= the budget cost × profit per budget

                           = 9,600× $0.5 =$4,800

Maximum total profit = $4,800

7 0
3 years ago
Nick’s Burritos purchases its inventory, on account, daily. At December 31, 2016, the company had taken receipt of $160,000 of i
Mkey [24]

Answer:

The $160,000 will be reported on the December 31, 2016, balance sheet as accounts payable

Explanation:

Account payable: The account payable is the amount in which the purchase of an item on a credit basis is recorded and the payment is to be made at the later date. It has come under the current liabilities on the balance sheet side.  

In the given question, the purchase of inventory is made for $160,000 on a credit basis. Along with it, the receipt is also taken from the supplier. So, the same amount i.e $160,000 will be recorded in accounts payable

4 0
3 years ago
which would be considered assets? check all that apply.own a guitarchecking accountstudent loanstocks and bondsmonthly rentown a
Harrizon [31]

The correct options are

  • own a guitar
  • checking account
  • stocks and bonds
  • own a motorcycle

A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset. The balance sheet of a business lists assets. They are divided into four categories: tangible, financial, fixed, and current. They are acquired or produced in order to raise a company's worth or improve the operations of the company. Whether it's industrial equipment or a patent, an asset may be viewed of as anything that, in the future, can create cash flow, lower expenditures, or increase sales. A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset.

To know more about assets refer to brainly.com/question/19733618

#SPJ4

5 0
2 years ago
All of the following should generally be included as taxable income on Schedule 1 (Form 1040), line 21, EXCEPT: Reimbursement re
Lapatulllka [165]

Answer:

Answer is Option 2: Life insurance proceeds received after the death of a spouse.

Explanation:

Life insurance proceeds are generally not taxable. They are paid after insurer's death. It would only be taxable if the policy was given to the spouse for a price. Even if proceeds are paid under accidental policy or health insurance policy, they are not taxable. Proceeds are always paid as a lump sum amount and not in installments.

Other given options, 1, 3 and 4 like reimbursement for medical expenses, taxable portion of a disaster relief payment and dividends exceeding net premiums paid are taxable.

7 0
3 years ago
Read the following scenario. An urban area in southern Texas is rapidly growing. The population has almost doubled over the past
Alex73 [517]
I'm not 100% sue but I think the answer is option D: District boundaries will remain the same, but the voting pattern will shift from Republican to Democratic. Hope this helps!
7 0
4 years ago
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