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3 years ago

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A deduction from adjusted gross income for yourself, your spouse, and qualified dependents is: A. the standard deduction. B. a t

ax credit. C. an itemized deduction. D. an exemption.

1 answer:

dmitriy555 [2]3 years ago

8 0

The answer is C or D

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As of December 31, year 2, a company has an inventory item that was originally purchased for $80 in year 1. The inventory item w

Naily [24]

The net realizable value of the inventory as of December 31, year 2, according to IFRS is <u>$75</u>.

<h3>What is net realizable value under IFRS?</h3>

Under the IFRS, inventories should be stated at the lower of cost and net realizable value. The net realizable value equals the selling price less the estimated costs of sale.

<h3>Data and Calculations:</h3>

Inventory purchase cost = $80

Net realizable value in year 1 = $60

Net realizable value in year 2 = $75

Replacement cost = $65

Normal profit margins = 20%

Thus, the net realizable value of the inventory as of December 31, year 2, according to IFRS is <u>$75</u>.

Learn more about net realizable value at brainly.com/question/794345

8 0

2 years ago

Determine the average rate of return for a project that is estimated to yield total income of $936,000 over eight years, has a c

Feliz [49]

Answer:

18%

Explanation:

The computation of the average rate of return is shown below:

The average of annual income is

= $936,000 ÷ 8 years

= $117,000

And, the average investment is

= ($1,200,000 + $100,000) ÷ 2

= $650,000

Now the average rate of return is

= $117,000 ÷ $650,000

= 18%

6 0

3 years ago

Ranier Outdoor Clothing managers engage in an annual organizational assessment, trying to predict industry changes as well as po

Free_Kalibri [48]

Answer: Environmental scanning

Explanation: In simple words, environmental scanning refers to the study of events that affects the operations of the business and relate them with the internal and external environment in which the firm operates.

In the given case, the managers of the company are trying to predict the changes in the industry by looking at the trends of their competitors.

Hence from the above we can conclude that this assessment is environmental scanning.

5 0

3 years ago

If we use "ceteris paribus" when plotting a demand curve for the price of canned beans, what is assumed to be constant?a. The pr

Tanzania [10]

Answer:

All except 'a' i.e The price of a can of beans

Explanation:

Demand Curve is the graphical representation of quantities of a good demanded at different prices, other factors remaining constant (ceteris paribus).

The curve is downward sloping due to inverse relationship between price & quantity demanded, as per law of demand. Change in price defines quantity demanded movement on the curve itself. Any change in factors other than price shifts the curve altogether.

In this case : Determining demand curve of 'Canned Beans' - would be based only on relationship between their quantity demanded & their own i.e canned beans price. All other factors - tomato can price, their cost of production, their supply are held constant as per 'ceteris paribus'.

6 0

3 years ago

On May 1 of the current year, La Presa Company sells some equipment for $25,000. The original cost was $50,000, the estimated sa

snow_tiger [21]

Answer:

The loss on sale is $ 4,000.

Explanation:

Loss or gain on an Asset can be determined by this formula:

Loss or gain = Disposal/Consideration price - Book Value of Asset.

<u>Determining book value.</u>

Book Value of Asset = Acquisition cost - Accumulated depreciation.

Acquisition cost is 50,000.

Annual depreciation expense = Depreciation base/Number of years.

(50,000 - 5,000) /5= 9,000

Accumulated depreciation is 18,000 + (9000 × 4/12) = 21,000.

Therefore book value of asset = 50,000 - 21,000.

Book Value of Asset = 29,000.

Disposal/Consideration price = 25,000

<u>Determining loss or gain on asset disposal.</u>

Loss or gain = Disposal/Consideration price - Book Value of Asset.

Loss or gain = 29,000 - 32,000.

Loss on sale was = 4,000.

8 0

3 years ago