Answer:
$288 (F)
Explanation:
In order to calculate activity variance we subtract actual results from the flexible budget. Moreover, the flexible budget is determined by taken into account both fixed and variable expense of the activity. This is shown below:
Flexible Budget of Selling and Administrative Expense = 25,900 + (2.1 x 5,980) = $38,458
Variance = 38,170 - 38,458 = $288 (F)
Because the actual expense is less than the flexible budget, the variance is favorable (F).
Note: Variable flexible budget is calculated by multiplying the variable rate with the actual units produced.
Answer: Has the same basis to the donee as the donor's adjusted basis if the donee disposes of the property at a gain.
Explanation:
For a gifted property, it should be noted that the tax basis for a donee that is, the person who gets the gift will be identical to that of the donor, this is, the person that donates the gift in cases whereby the property is gotten as a gift.
Therefore, a gift property disregarding any adjustment for gift tax paid by the donor will have the same basis to the donee as the donor's adjusted basis if the donee disposes of the property at a gain.
Answer: $545,454.55
Explanation:
Caroline's share of the profit would be her sharing ratio over the total ratio time the net income.
= (6 / ( 6 + 2 + 3)) * 1,000,000
= 6/11 * 1,000,000
= $545,454.545
= $545,454.55
Answer:
$117,201
Explanation:
Calculation for what The cost basis recorded in the buyer's accounting records to recognize this purchase is
Using this formula
Cost basis=Cash+Note payable+Mortgage
Let plug in the formula
Cost basis=$32,829+$26,957+$57,415
Cost basis=$117,201
Therefore The cost basis recorded in the buyer's accounting records to recognize this purchase is $117,201
