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3 years ago

In regard to an operating budget identifiable costs may generally include _________.

Business

1 answer:

PSYCHO15rus [73]3 years ago

6 0

Answer:

Explanation:

Identifiable costs by definition are expenses that can be identified directly with a specific facility, activity or function. Operating budgets deal with short term expenses and expenses to be incurred in the next one year. Therefore, in regard to operating budget, identifiable costs may generally include cost of inventory, cost of fixed assets like land and equipment, supporting group and the direct care group wages.

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Market Corporation owns 100% of Subsidiary Corporation's stock. Market Corporation completely liquidates Subsidiary Corporati

ella [17]

Answer:

c. $500,000.

Explanation:

Market Corporation has a basis in the land of $500,000.

We are told in the question that ''Market Corporation completely liquidates Subsidiary Corporation, receiving land with a $400,000 adjusted basis and a $500,000 Fair Market Value''

In the event of liquidation the value of an asset is no longer its carrying amount or book value but rather the amount at which the asset can be disposed which is the fair market value.

3 0

3 years ago

Superior has provided the following information for its recent year of operation: The common stock account balance at the beginn

yKpoI14uk [10]

Answer: $22000

Explanation:

The amount of Superior's dividend declarations during its recent year of operation will be calculated thus:

Ending retained earnings ($91000) = Beginning retained earnings ($75000) + Net income ($38000) - Dividend declared

$91000 = $113000 - Dividend declared

Dividend declared = $113000 - $91000

Dividend declared = $22000

Therefore, Superior's dividend declarations during its recent year of operation is $22000

7 0

2 years ago

In 2020, Neighbor Co-Op Inc. sells 1,000 beverages in glass bottles and receives a $1.00 deposit for each returnable bottle sold

strojnjashka [21]

Answer:

Date Account Title Debit Credit

Dec, 31. 2020 Cash $1,000

Customer Deposits $1,000

Date Account Title Debit Credit

Dec, 31. 2020 Customer deposits $800

Cash $800

Date Account Title Debit Credit

Dec, 31. 2020 Customer deposits $120

Breakage Revenue $120

Cost of goods sold(0.8 * 120) $ 96

Inventory $ 96

7 0

2 years ago

Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances

Maru [420]

Answer:

30-Nov 31-Dec

debit credit debit credit

supplies $2,000 $3,500

prepaid Insurance $8,000 $6,000

salaries payable $11,000 $16,000

unearned revenue $3,000 $1,500

1. Purchases of supplies in December total $4,500.

Dr Supplies expense 3,000

Cr Supplies 3,000

beginning balance = $2,000 + $4,500 = $6,500

supplies expense = $6,500 - ending balance

2. No insurance payments are made in December.

Dr Insurance expense 2,000

Cr Prepaid insurance 2,000

Insurance expense = November 30's balance - December 31's balance

3. $11,000 is paid to employees during December for November salaries.

Dr Salaries expense 16,000

Cr Salaries payable 16,000

The beginning balance of salaries payable = $11,000, then it was paid (balance = $0), so any ending balance represents wages expense.

4. On November 1, a tenant pays Golden Eagle $4,500 in advance rent for the period November through January.

Dr Unearned revenue 1,500

Cr Rental revenue 1,500

Monthly rent revenue = $4,500 / 3 = $1,500

unearned revenue balance Nov. 30 = $3,000

unearned revenue balance Dec. 31 = $1,500

rental revenue = Nov. 30's balance - Dec. 31's balance

8 0

3 years ago

Explain what the implications are to the Canadian economy if the brain drain is not stopped? Within the implications, consider t

Alinara [238K]

Answer:

Low tax collection, low working population

Explanation:

Brain drain is a condition where a country loses its population through migration. Generally, this happens with the low developing countries, because people try to search for jobs in developed countries. Canada will lose tax revenue collection and low working population as a result of the brain drain. Government is the most important stakeholder which will be affected by brain drain apart from that; hospitals and industrial units will be affected by the brain drain.

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3 years ago