Answer:
correct option is (A) A deferred tax liability of $16 among noncurrent liabilities.
Explanation:
solution
pretax account income = $200
overweight fines= $5
understate depreciation = 110 - 70 = $40
so total taxable income is = $200 - $5 - $40
total taxable income is = $165
and
income tax is = 40% of $165
income tax = $66
and
income tax expense as per book is = 40 % of ( 200 + 5 )
income tax expense as per book is = $82
so deferred tax liability among non current liability is = $82 - $66 = $16
so correct option is (A) A deferred tax liability of $16 among noncurrent liabilities.
If there is incentive system linked to quantity of output produced then workers will try to produce as much products as they can, compromising on the quality of product.
The statement is True.
<h3>Incentive system based on Quantity Produced</h3>
There are different incentive systems in a factory. A worker may get rewarded base don quantity produced.
If this is the case then the worker will try to make more products in minimum possible time which can reduce the quality of those products.
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Answer:
The total amount of paid-in capital is $552,000
Explanation:
The computation of the total amount of paid-in capital is shown below:
= Issue of common stock + issue of preferred stock
where,
Issue of common stock = Number of shares × issued price
= 20,000 shares × $18 per share
= $360,000
Issue of preferred stock = Number of shares × par value
= 1,200 shares × $160 per share
= $192,000
Now put these values to the above formula
So, the value would equal to
= $360,000 + $192,000
= $552,000
Answer:
D) All of the above would be classified as manufacturing overhead.
Explanation:
Manufacturing overhead is the overhead incurred directly in relation to the manufacturing process.
It can be fixed as well as variable, there is no standard conclusion for the above on the basis of nature of overhead.
Machining shop is a part of manufacturing process, and all expense related to that will be classified as manufacturing overhead, whether the expense is in cash like supervisor salary, property taxes of building of machining shop, or non cash expense like depreciation.
Therefore, all the expenses will be included in manufacturing overhead.
Answer:
Total subscriptions revenue for the period= 4 months (September 1 - December 31)
= (600 * $81) * 4/12
= $48,600 * 4/12
= $16,200
Hence adjusting entry would be:
Deferred subscriptions revenue a/c Dr $16,200
To Subscriptions revenue Cr $16,200