Answer:
(A) Total assets,
(C) Cash from operations and
(D) Total liabilities
Explanation:
A company collecting $10,000 cash from a customer as a deposit for goods that will be shipped next quarter is an example of an unearned revenue. It is receiving money from the customer in advance for the good or service yet to be provided.
And this is considered as a liability and recorded in the balance sheet as such because the company now owes the customer.
When the good or service is now provided, it increases the total assets.
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Answer:
Jacob purchased 10000 shares form Grebe corporation two years ago for $24000
last year Jacob received a non taxable stock dividend of 2000 shares from Grebe corporation
In the current year tax year Jacob sold all stock received as dividend that's 2000 shares for $18000
The gain of the sale of 2000 shares can be calculated by subtracting the basis in the shares from the cost price. the cost of shares = ( $24000 / 12000 ) = $2 per share
profit made from the sales of 2000 shares is calculated as follows ; selling price ( $18000 ) - cost price of 2000 shares ( $2 * 2000) , the profit is $14000 and it is in the long term because the original shares bought has been held for at least 1 year
Explanation:
Jacob purchased 10000 shares form Grebe corporation two years ago for $24000
last year Jacob received a non taxable stock dividend of 2000 shares from Grebe corporation
In the current year tax year Jacob sold all stock received as dividend that's 2000 shares for $18000
The gain of the sale of 2000 shares can be calculated by subtracting the basis in the shares from the cost price. the cost of shares = ( $24000 / 12000 ) = $2 per share
profit made from the sales of 2000 shares is calculated as follows ; selling price ( $18000 ) - cost price of 2000 shares ( $2 * 2000) , the profit is $14000 and it is in the long term because the original shares bought has been held for at least 1 year
Answer:
a. 56%
b. 62%
Explanation:
a. Janitorial costs are allocated based on square feet.
Assembly Department Square feet = 42,560
Total area for both departments = 42,560 + 33,440 = $76,000
Percentage of costs
= 42,560/ 76,000
= 56%
b. Security costs are allocated based on asset value.
Cutting Department Asset Value = $126,480
Total asset value for both departments = 77,520 + 126,480 = $204,000
Percentage of costs
= 126,480/ 204,000
= 62%
Answer:
false, these two can be related
Explanation:
false
