False, in developed nations labor costs are much much higher which is why labor is sent over to less developed countries
Answer:
Explanation:
Cash budget for Pasadena Candle Inc.
Month Purchased Paid
August $40,000 $16,000
September $36,000 $38,400
Calculations:
Month ending payment in September = 60 % x August purchases + 40 % x September purchases = 0.60 x $ 40,000 + 0.40 x $ 36,000
= $ 24,000 + $ 14,400 = $ 38,400
The answer is <u>"A. Interest earning".</u>
A debit is an accounting entry that outcomes in either an expansion in resources or a decline in liabilities on an organization's accounting report. In basic accounting, debits are adjusted by credits, which work the correct inverse way. For example, if a firm applies for a new line of credit to buy gear, it would debit settled resources and credit a liabilities account, contingent upon the idea of the loan.
Answer:
b. Married filling jointly
Explanation:
From the question we are informed about taxpayer's spouse who dies in August of the current year. In this case,
the taxpayer's filing status for the current year would be Married filling jointly. Joint return can be regarded as tax return which is been filed with the Internal Revenue Service by two married taxpayers that decide to have a filing status of "married filing jointly" or a widowed taxpayer that decide to have a filing status of " Qualifying Widow "A joint return give room for the
taxpayers to join their tax liability as well as report their income, credits and
deductions on the same joint return.
The joint return rates still validly
apply even two year after the death of a particular spouse, so far the
surviving spouse of the dead spouse does not remarry and still maintains a household as regards a dependent child.
Answer:
FiFo method as prices are continuously increasing
Explanation:
Date Units Cost Per Unit Cost
June 1 150 units $ 1,040 6.93
June 10 200 units 1,560 7.8
June 15 200 units 1,680 8.4
June 28 150 units 1,320 8.8
$5,600
As the unit price is increasing the method which yields the highest gross profit would be FIFO.But in some cases the income is overstated as the beginning inventory is too old to account for . Similarly Lifo gives lower net income but that too is not very beneficial when the inventory is almost obsolete.
The average method gives a measure in between FIFO and LIFO.
