1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Olin [163]
3 years ago
6

Under the uniform capitalization rules applicable to taxpayers with property acquired for resale, which of the following costs s

hould be capitalized with respect to inventory if no exceptions have been met? Repackaging costsOff-site storage costsa. Yes Yes b. Yes No c. No Yes d. No No
Business
1 answer:
pashok25 [27]3 years ago
6 0

Answer:

The correct answer is A

Explanation:

As per the UNICAP (stands for Uniform Capitalization) rules, the person have to capitalize the cost for creating the assets, which means or defines as to capitalize the raw materials, labor cost and other indirect as well as direct costs that is attributable to the production of the assets.

So, the costs which is to be capitalized in respect to inventory are the repacking cost, which is involved in the indirect supplies and other materials and the off site storage cost is involves in the rental of the facilities and equipment.

You might be interested in
The Allowance for Bad Debts has a credit balance of $ 9 comma 500 before the adjusting entry for bad debts expense. After analyz
Natali5045456 [20]

Answer:

$5,500

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Adjustments to allowance required

= $15,000 - $9,500

= $5,500

The entries to be posted are

Debit Bad debt $5,500

Credit Allowance for Doubtful debt $5,500

6 0
3 years ago
What is a free trade agreement
natima [27]
A free trade agreement or treaty is a multinational agreement according to international law to form a free-trade area between the cooperating states
6 0
3 years ago
What are the 3 main factors that affect the labor market
Fynjy0 [20]
<span><span>Economy- Macroeconomic conditions affect labor supply and demand. Job losses during a recession mean less disposable income for consumers and less demand for cars.</span>
<span>Globalization-Globalization involves the import of foreign automobiles and relocation of manufacturing facilities overseas. This has led to a steady decline in U.S. automobile-sector employment.</span>
<span>Compensation- Compensation includes wages and benefits. According to an April 2011 U.S. Bureau of Labor Statistics report, there has been upward pressure on wages and downward pressure on benefits.</span>
</span>
6 0
3 years ago
Cooper’s Brakes, Inc., enters into a contract with Byron’s Service to fix Cooper’s hydraulic equipment. Byron delays the repair
Dennis_Churaev [7]

Answer:

The answer is: Compensatory damages

Explanation:

Compensatory damages refers to money awarded to a plaintiff in a civil case (in this case Cooper's Brakes) to compensate for incurred losses (or injuries, etc. in other cases). The plaintiff has to prove that the losses he suffered were caused by negligence or unlawful conduct of the defendant (Byron's Service). The plaintiff has to be able to quantify (in monetary terms) the damages it suffered.

4 0
3 years ago
Tom is a junk remover who occasionally finds rare antiques to sell. He uses an online auction site to sell each antique for the
Hunter-Best [27]

Answer:

Option (b) is correct.

Explanation:

There are three types of price discrimination:

(i) First degree price discrimination or Perfect price discrimination

(ii) Second degree price discrimination

(iii) Third degree price discrimination

Perfect price discrimination refers to a situation in which the selling price of the product is equal to the price that a consumer willingness to pay for the product. This is a situation in which there is no consumer surplus.

Consumer surplus = Actual price paid by the consumer - Willingness to pay for the product

4 0
3 years ago
Other questions:
  • You decide that you need more information on how employees feel about diversity, so you create a paper and pencil survey on empl
    9·1 answer
  • The board of directors of Orange Corporation, a calendar year taxpayer, is holding its year-end meeting on December 28, 2010. On
    15·1 answer
  • Blood Alcohol Concentration is the amount of alcohol in an individual's body, measured by the weight of the alcohol in a volume
    7·1 answer
  • Frank and Lucy have just been married and trying to arrange to buy a home. Frank makes about $35,000 annual income and Lucy make
    15·2 answers
  • Granite Company purchased a machine costing $133,000, terms 2/10, n/30. The machine was shipped FOB shipping point and freight c
    14·1 answer
  • which of these is most appropriate closing for a business letter? a. respectfully, b. kind thoughts, c. until next time, d. chee
    7·2 answers
  • 5) Ryans Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.
    14·1 answer
  • Refresh produces soft drinks and sodas. Production of 100,000 liters was started in February, 85,000 liters were completed. Mate
    15·2 answers
  • Select the type of business that is most likely to obtain large amounts of resources by issuing stock. a. government entity b. p
    10·1 answer
  • An organization's _____ can pay attention to, measure, and control a number of activities, processes,or outcomes in order to fos
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!