The answer is<u> "C. gift tax".</u>
A gift tax is a government imposed tax to an individual giving anything of significant worth to someone else. For something to be viewed as a gift, the getting party can't pay the supplier full an incentive for the gift, however may pay a sum not as much as its full esteem. It is the provider of the blessing who is required to settle the blessing government expense. The collector of the gift may pay tax on the gift regulatory expense, or a level of it, on the supplier's benefit, if the provider has surpassed his/her yearly personal gift tax deduction limit.
Answer:
Bertucci Corporation
The amount the company should be willing to pay to acquire more of the constrained resource per minute is:
a. $12.40 per minute
Explanation:
a) Data and Calculations:
TC GL NG
Selling price per unit $ 494.40 $ 449.43 $ 469.68
Variable cost per unit $ 395.20 $ 320.21 $ 373.92
Contribution per unit $99.20 $129.22 $95.76
Minutes on the constraint 8.00 7.10 7.60
Contribution per minutes $12.40 $18.20 $12.60
The two methods of accounting for uncollectible receivables are the direct method and the <u>allowance</u> method.
The Financial Accounting Reserve Method refers to the bad debt process in which the estimated bad debt expense is recorded in the same accounting period as the sale. The provisioning method is used to adjust the value of accounts receivable shown on the balance sheet.
The direct depreciation method requires two separate postings to write off the irrecoverable account. Recognizing credit losses using the provisioning method reduces journal entries for recognizing certain charge-offs. Doubtful invoice deductions.
Under the allowance method, companies estimate the number of bad debts as a percentage of credit sales. Then apply that percentage to your credit sales when you get your revenue. Value adjustments correspond to income.
Disclaimer: Learn more about the allowance method here
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Answer: Please refer to the explanation section
Explanation:
Loss from operations = $500 000
Loss (sale of assets) = $1000 000 - $800 000 = $200 000
Income from continuing operations after tax = $2000 000, Therefore income from continuing operations before tax is equal to $200 000 x 100/60 = 3 333 333.333
Net Income before tax = 3 333 333.333 - 500 000 - 200 000
Net Income before tax == 2633 333.333
Net Income After Tax = 2633 333.333 x 60/100 = $1580 000
Income Statement
Income from continuing operations 3 333 333.333
Loss from operations - 500 000
Loss from sale of assets <u>- 200 000</u>
Net Income before Tax 2633 333.333
Taxation <u>-1053 333.333</u>
Net Income 1580 000
