Answer:
Ms. Jorgen will report only the Taxable gain and losses from the purchase and will not report the commission paid for by OP Inc
Explanation:
Gross Income Definition is total amount( the amount is $14500), in cash(the $14500 is cash) or otherwise ( asset value), Accrued to, received by or in favor of ( the amount of $14500 is in paid in favor of her) and must not be of a capital nature ( the commission is of a capital nature. Therefore it will not be reported as income.
Answer:
Explanation:
Variable cost = 60% x $150 = $90
a) Total contribution margin in dollars = ($150 - $90) x 550 = $33,000
b) Unit contribution margin = 150 - 90 = $60
c) Contribution margin ratio = 60/150 = 40%
Answer:
B C and D
Explanation:
I just took it on edg and the guy above me has the wrong answer.
hope this helps :D
Answer: $230,000
Explanation:
In our case,
Undiscounted future cash inflows from the sale of the product = $ 600,000 and
Carrying value of the asset = $ 720,000.
We can come to a conclusion that the benefit we get from the sale of the asset is less that carrying value.
Hence, the asset is said to be impaired.
Therefore,
Impairment Loss = Carrying value - Fair value of the asset
= 720,000 - 490,000
= $230,000.
Answer: True
Explanation:
Sally by taking her business to the internet can now be able to reach a global customer base, therefore this increases her business scope.
This implies she can now reach the same wide range of distribution of customers with a her small business as large companies could, by simply creating a website for her business and placing it on the world wide web.