Answer: <em>Their</em><em> </em><em>assignment</em><em> </em><em>and</em><em> </em><em>important</em><em> </em><em>instructions</em>
Answer:
True
Explanation:
While a sole proprietor is expected to report his business income or loss on his personal tax form as the business is not considered for separate tax , a c corporation shareholders are taxed based on the dividends received from the business profit and the entire profit taxed for the corporation tax.
As no profit was distributed to the owners , there was no personal tax basis for Lucy but only the corporation tax that will be charged on the business net profit.This could have been a tax avoidance method adopted by Lucy to reduce his tax liabilities as a sole share holder.
<u>The answer is "1920".</u>
This is how we calculate this;
time = 16 hours
normal processing rate = 2 per minute
so,
Things-in-Process (Queue) = 16 hours x (2 Items/Minute x 60 Minutes)
<u>= 1920</u>
Answer:
b. increases to $206
Explanation:
Based on the above information given the holder of the call option will earn a profit if the price of the share increase to 206 because
the price of the stock have to increase to above $205 breakeven which is ($200+$5) in order for the option holder to earn a profit or make a gain.
Hence:
$200 + $5
= $205 (breakeven)
Therefore the holder of the call option will earn a profit if the price of the share increases to $206
The manufacturing overhead account would be credited for work in process.
The amount applied may or may not actually equal the overhead costs applied because overhead is generally based on an estimate.
