A company that exists on different locations around the world I think.
True According to the quantity theory of money, if the amount of money in an economy doubles, all else equal, price levels will also double.
Definition: The quantity theory of money states that the money supply and price level in an economy are directly related to each other. When the money supply changes, the price level changes proportionally, and vice versa.
The quantity theory of money states that the price level multiplied by real output is equal to the money supply multiplied by the speed or rotation of the money supply. Speed is generally stable.
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The two major types of transaction that affects the international flow of money are b. debits and credits.
When you say debits, it the liabilities and when you say credits its the assets. These two is the major transaction that makes a big impact to the economy.
Answer:
Option (D) is correct.
Explanation:
Given that,
Beginning work in process = $4,000
Ending work in process in finishing department = $6,000
Cost transferred = $47,000
Direct material = $15,000
Direct labor = $46,000
Overhead = $22,000
Cost incurred in finishing department:
= Beginning work in process + Cost transferred + Direct material + Direct labor + Overhead
= $4,000 + $47,000 + $15,000 + $46,000 + $22,000
= $134,000
Cost of goods transferred to the Finished Goods Inventory account:
= Cost incurred in finishing - Ending work in process
= $134,000 - $6,000
= $128,000
Answer:
The tax that must be added to the C corporation tax liability for the year before the S election = $49000*1/4=$12250
The rest of the three instalments of $12250 each will be paid with Lent Corporation's next three tax returns
Explanation:
FIFO Value/basis =$650000
LIFO value/basis =$510000
Difference =$140000
35% Tax =$140000*35% = $49000
The tax that must be added to the C corporation tax liability for the year before the S election = $49000*1/4=$12250
The rest of the three instalments of $12250 each will be paid with Lent Corporation's next three tax returns
