Answer:
$128,100
Explanation:
PEACH Computer
Statement of cash flow using direct method for the year ended 31 December 2018.
Cash flows from operating activity
Net income. $91,000
Adjustment to reconcile net income to net cash from operations
Depreciation expense. $47,000
Changes in working capital
Decrease in accounts re. $4,200
Increase in inventory. ($18,500)
Decrease in prepaid rent $1,700
Increase in accounts Payable $6,500
Decrease in Income tax Payable ($3,800)
Net cash flow from operating activities
$128,100
Answer:
$83.4
Explanation:
Under FUTA, only the first $7000 earning per year will be taxed. Any amounts above $7000 will be tax-exempt.
For Michael, the tax will be calculated as follows.
for the$11200 earned in Dawson company
=0.6% x $7000
=0.06/100 x 7000
=0.006 x 7000
=$42
Amount earned working at McBribe
=0.06% x 6900
=0.006 x $6900
=$41.4
Total to be paid by the two companies
=$42 + $ 41.4
=$83.4
Answer:
Option A. A owns less than 20 percent of the stock of Corporation B.
Explanation:
The reason is that the dividend is recognized as gross income for tax purposes which means the tax difference is zero, in the financial statement. When equity method is used where the shareholding is above 20%, there is a tax difference and when the shareholding is above 50%, the financial statements are consolidated. In this case, there is neither a tax difference and nor the financial statements are consolidated which mean the shareholding is below 20%.
Answer:
Accounts receivable (Dr.) $1,075
Sales revenue (Cr.) $1,075
Cost of goods sold (Dr.) 800
Finished goods (Cr.) 800
where
Dr. = Debit
Cr. = Credit
Explanation:
The inventory account of a manufacturing firm has three sub-accounts: Raw materials, Work-in-process, and Finished goods. The goods purchased by the company were sold without any work done. It means that they were purchased in finished form, so, the company will record these goods in its finished goods inventory. When goods are sold, we have to record sales and receivable. AND on the same time, under perpetual inventory system, the cost of goods that are sold and inventory account are also adjusted to reflect the changes.
The answer is <span>155.53
</span><span>The cost is $138.25. This is 100%.
The </span>desired markup is 12.5%. Let x be the price after t<span>he desired markup. x is 112.5% (100% + 12.5% = 112.5%).
Again:
</span>$138.25 is 100%
x is 112.5%
Make the proportion:
$138.25 : 100% = x : 112.5%
x = $138.25 * 112.5% : 100%
x = $155.53
