$3500 sum will spk record for interest expense in their december 31, 2022
Interest = $ 6000 for 12 months.
From June to December there will be 7 months due,
therefore 7/12x6000 = $ 3500
An interest expense is the fetched brought about by an substance for borrowed reserves. Intrigued cost may be a non-operating cost appeared on the salary explanation. It speaks to intrigued payable on any borrowings—bonds, credits, convertible obligation or lines of credit. It is basically calculated as the intrigued rate times the exceptional foremost sum of the obligation. Interest expense on the income statement represents interest accrued during the period covered by the financial statements, and not the amount of interest paid over that period. While interest expense is tax-deductible for companies, in an individual's case, it depends on their jurisdiction and also on the loan's purpose.
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Answer:
The best transfer price to avoid transfer price problems is $2,310
Explanation:
Transfer Price = Variable cost + Fixed Fee
Variable Cost = Direct Material + Direct labor + Variable Overhead
= 600 + 1,200 + 300
= 2,100
Transfer Price = Variable cost + Fixed Fee
= 2,100 + 210
= $2,310
Therefore, The best transfer price to avoid transfer price problems is $2,310
Answer:
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Answer:
d. $29,580.
Explanation:
Note: The data in the question are merged together and they are first sorted and separated as given in the attached file before the question is answered.
Cost individually incurred by Maintenance = $25,500
Share of Payroll Department cost = $20,400 * (15/75) = $4,080
Total Maintenance Cost = $25,500 + $4,080 = $29,580.
Therefore, he total cost of operating the Maintenance Department for the current period is d. $29,580.
Answer and Explanation:
The journal entry to record the tax provision is given below:
Income tax expenses $48,840,000
Deferred tax assets ($10,900,000 ×0.40) $4,360,000
To Deferred tax liability (($15,900,000 + $1,900,000)×0.40) $7,120,000
To Income tax payable ($129,000,000 ×0.40) $51,600,000
(To record income tax expenses)
Here the income tax expense and deferred tax asset should be debited as it increased the asset and expenses and credited the liability & tax payable as it increased the liability
