Answer:
$2.27
Explanation:
Unit Cost =
If the average cost method is used, the materials cost per unit (to the nearest cent) would be: $2.27
Sx-month note is payable with the amount borrowed plus accrued interest due six months later on May 1, 2022. Interest Payable will be reported for two months i.e. November and December is $1000.
Interest Payable = $100000 × 6% x 2/12 = $1000,
Could I borrow your pen for a moment, please? The common verb borrow means to obtain something from someone with the intention of returning it shortly. I used to give Laura frequent loans of cash. An amount over and above the repayment of the principal sum is known as interest and is paid by a borrower or deposit-taking financial institution to a lender or depositor at a set rate. Interest is the cost of borrowing money or the fee you charge to lend it. Most frequently, interest is shown as an annual percentage of the loan amount. The interest rate for the loan is denoted by this proportion.
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Answer:
C. $15,300
Explanation:
Calculation to determine what GDP equals:
Using this formula
GDP = Consumption + Investment spending + Government Spending + Net Export
Where,
Net Export = Export - Import
Let plug in the formula
GDP=$9,000 + $3,000 + $3,500 + ($2500 - $2700)
GDP= $15,300
Therefore GDP equals:$15,300
Answer:
Since Tax Payable is $940000 @ 40%, Taxable income will be:
= $940,000 × (1/40%)
= $2,350,000
Only Temporary difference is Rent $490,000, which is being recognized for tax but not for Books.
Hence Pre-Tax Accounting income will be:
= $2,350,000 - $490,000
= $ 1,860,000
Therefore, Journal Entry will be:
Income Tax Expense A/c (1,860,000 × 40%) Dr. $744,000
Deferred Tax Asset A/c (490,000 × 40%) Dr. $196,000
To Income Tax Payable $940,000
(To record income taxes for 2018)
Answer:
Assets will reduce by $850, and stockholder's equity will also reduce by $850
Explanation:
An accounting equation is constant and do not change, it is defined as
Assets = Liabilities + Stockholder's Equity
When the company sponsors the baseball team, it incurs an expense.
For this cash is spent, which is cash outflow and accordingly, it decreases cash and thus, assets are reduced.
On the other hand the sponsorship is an expense which will reduce the revenue which is clubbed in stockholder's equity as retained earnings.
Therefore, stockholder's equity will also be reduced.
