Answer:
Sell Machine A and distribute cash to one of the shareholders.
Distribute Machine B to the other shareholder because there is no gain on the distribution and no deductible loss
Machine C can then be retained
Explanation:
If Machine A is distributed, it will result in a non-deductible loss of $ 7,000 ( 27,000- 20,000). Hence, to preserve the loss which will help to reduce tax base, the company should consider selling it and give the cash generated on it to one of the shareholders.
If Machine B is distributed, it will yield neither gain nor loss. Since it doesn't have any tax implication whether distributed or sold, the company should consider given it to the other shareholder.
As for Machine C, this should be retained, because Raven will have to pay tax on the assumed gain if it is distributed.
Answer: Social Vocation
Explanation:
This is because she derives joy from helping others.
Great interpersonal relationship, compassion are characteristics. So also she’ll have enough time to do all the humanitarian work she loves.
The knowledge that company officers have over their assigned personnel will include:
- Duty assignments.
- Promotions.
- Retention.
- Performance evaluations.
- Duty exchange.
- Leave (vacation, sick, and wellness).
- Substance abuse.
- Absenteeism
<h3>What knowledge will company officers hold?</h3>
Company officers will be expected to directly interact with the personnel under them.
To do this, they are to have knowledge of certain things such as performance evaluations, substance abuse, and duty assignments. This would help them direct personnel better.
Options for this question are:
- Duty assignments.
- Promotions.
- Retention.
- Performance evaluations.
- Duty exchange.
- Leave (vacation, sick, and wellness).
- Substance abuse.
- Absenteeism
- All of the above.
Find out more on the duties of company officers/ management at brainly.com/question/3792248.
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Answer:
work in process debit
raw materials inventory credit
--to record assignment of DM to work in process--
work in process debit
wages payable credit
--to record assignment of Labor to work in process--
work in process debit
manufacturing overhead credit
--to record assignment of MO to work in process--
Explanation:
We are n't given with numbers but we can determinate the account and were to post the value
a) Our materials stock decrease so we credited. We will debit WIP in order to balance the entry.
b) WIP as qualifies as assets (later it will become finished product that once sold will generate cash for the company) Thus, we need to debited. In the credit side there are two possible options:
if labor weren't paid then it will wages payable. If they were; we will credit cash to represent it.
c) for MO we credit for the allocate amount and debit WIP
At the end of the period, once we got the actual Manufacturing Overhead we will adjust
Answer:
The adjustment to net income for the period will be reported as:
Debit Interest expense ($600 - $500) $100
Credit Interest payable $100
<em>(Being interest expense for the period)</em>
Explanation:
Interest payable is the accumulation of the interest expense in the balance sheet overa specific period of time agreed with the creditor. When it becomes payable, the interest payable account is debited while cash is credited.
The interest payable in the Coffee Cup Company's account increased from $500 (credit balance) to $600 credit balance. This means there would have been an additional $100 interest expense recorded during the period in order to increase it to $600.
