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3 years ago

Corporate social responsibility describes the firm's:

Business

1 answer:

goldenfox [79]3 years ago

8 0

Answer:

2. concern for the welfare of society.

Explanation:

Corporate social responsibility refers to a concept that helps a company to take into account environment and social concerns in the business activities to make valuable contributions to society. According to this, the answer is that corporate social responsability describes the firm's concern for the welfare of society.

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In 20X1, Modern Property Groups collected rent revenue for 20X2 tenant occupancy. For financial reporting, the rent is recorded

vekshin1

Answer:

Debit deferred tax asset for $12,000

Debit income tax expense for $18,000

Credit income tax payable for $30,000

Explanation:

The journal entries will look as follows:

Date Account Name and Description Debit ($) Credit ($)

20X1 Deferred tax asset (w.1) 12,000

Income tax expense (w.3) 18,000

Income tax payable (w.2) 30,000

(To record income taxes at the end of 20X1.)

Workings:

w.1: Deferred tax asset = Deferred portion of the rent collected in 20X1 * Tax rate = $40,000 * 12% = $12,000

w.2: Income tax payable = Taxable income * Tax rate = $100,000 * 30% = $30,000

w.3: Income tax expense = Income tax payable - Deferred tax asset = $30,000 - $12,000 = $18,000

7 0

3 years ago

Software that is developed and customized to meet the needs of companies within a specific industry is ______ software.

natka813 [3]

Answer:

it is a proprietary software

4 0

2 years ago

Joint Cost Cheyenne, Inc. produces three products from a common input. The joint costs for a typical quarter follow: Direct mate

Drupady [299]

Answer:

a. Total revenue from the 3 products:

= $75,000 + $80,000 + $30,000

= $185,000

Total costs at the split-off point:

= $45,000 + $55,000 + $60,000

= $160,000

Gross profit currently being earned

= Total revenue - Total costs

= $185,000 - $160,000

= $25,000

b. Incremental revenue from product A:

= $116,000 - $75,000

= $41,000

Incremental costs = Rent for special equipment + Materials and labor cost

= $17,500 + $12,650

= $30,150

Incremental gross margin = Incremental revenue - Incremental costs

= $41,000 - $30,150

= $10,850

So, if product A is further processed, quarterly profits will increase by $10,850.

7 0

3 years ago

Stones Corporation uses a predetermined overhead rate based on machine-hours to apply overhead to the manufacturing process. Las

Vinvika [58]

Answer:

A. $5.00 per machine-hour

Explanation:

The computation of the manufacturing overhead application rate is shown below:

= Estimated manufacturing overhead ÷ expected machine-hours incurred

= $550,000 ÷ 110,000 machine hours

= $5.00 per machine hour

In order to determine the manufacturing overhead application rate, basically we divided the estimated manufacturing overhead by the expected machine hours

3 0

4 years ago

DeWitt Industries has adopted the following production budget for the first 4 months of 2017. Month Units Month Units January 10

brilliants [131]

Answer:

DeWitt Industries

Materials Purchase Budget for the first quarter:

January February March

Ending inventory 1,648 1,038 824

Production

requirements 31,320 24,720 15,570

Beginning inventory 9,500 1,648 1,038

Purchases (pounds) 21,820 23,072 14,532

Explanation:

a) Data and Calculations:

Production Budget

Month Units

January 10,440

February 8,240

March 5,190

April 4,120

January February March April

Production Units 10,440 8,240 5,190 4,120

Production

requirements 31,320 24,720 15,570 12,360

Materials Purchase Budget

January February March April

Ending inventory 1,648 1,038 824

Production

requirements 31,320 24,720 15,570 12,360

Beginning inventory 9,500 1,648 1,038 824

Purchases (pounds) 21,820 23,072 14,532 11,536

4 0

3 years ago