Answer:
(C). Firms engaged in barter run the risk of having to accept goods they do not want or cannot use.
Explanation:
Countertrade is a trade system in which goods and services are exchanged for other goods and services.
Barter is a type of countertrade where money isn't involved. Only goods and services are exchanged between participating parties.
<em>A disadvantage of barter is that, in the absence of required goods, a firm may have to accept the goods the other firm is offering even though it doesn't need or cannot use those goods at that point in time. </em>The firm could resell the goods later.
Answer:
Tax in FIFO method= 0.3*8,740=2,622
Tax in LIFO method= 0.3*8,100= 2,430
Difference- 2,622-2,430=192
Using the FIFO method will result in $192 more in tax than the LIFO method
Explanation:
Answer:
A. $2,325
B. $2,325
C. $0; $1,715
D. $598.5
Explanation:
A. Calculation to determine the amount of the travel costs can Melissa deduct as business expenses
Round trip airfare $610
Conference registration fees $385
3 nights lodging $1,005
($335*3)
Meals $150
(300*50%)
Cab fare $175
Total deduction $2,325
Therefore the amount of the travel costs can Melissa deduct as business expenses will be $2,325
b. Calculation to determine What amount of the travel costs can Melissa deduct as business expenses
Based on the information given the amount of the TRAVEL COSTS that Melissa can deduct as BUSINESS EXPENSES will still be $2,325.
Round trip airfare $610
Conference registration fees $385
3 nights lodging $1,005
($335*3)
Meals $150
(300*50%)
Cab fare $175
Total deduction $2,325
c. Calculation to determine What amount of the airfare can Melissa deduct as a business expense
Based on the information given Airfare will NOT BE DEDUCTIBLE
Hence;
Total Airfare deductible = $0
Total expenses deductible = $2,325 - $610
Total expenses deductible = $1,715
d. Calculation to determine the amount of the travel costs can Melissa deduct as business expense
Registration fee $385
Mileage $43.5
($75*0.58)
Parking $170
Total deductible $598.5
Therefore the amount of the travel costs that Melissa can deduct as business expense is $598.5
Answer:
The answer options for this question would be the following:
A. permitted if a branch manager approves
B. permitted if the customer's verbal permission has been tape recorded
C. permitted if the customer follows up with written permission within 48 hours
D. prohibited
The correc answer is D. prohibited.
Explanation:
A customer's signature may not be falsified under any circumstances, even if the customer gives permission to do so.
It is determined that if there is a crime according to arts. 292 and 296 of the Penal Code, on the occasions when the signature of the represented or sponsored person is falsified in judicial writings, when subsequent statements by the person who maintains that he signs the piece acknowledges that it belongs to him, thus accepting the consequences that it would entail.
Answer:
Explanation:
Double Declining balance method is the form of accelerated depreciation method, in which value of asset depreciated twice by the rate which is charged in straight line method.
Depreciable Cost = Cost of Asset - Residual value
Depreciable Cost = $46,250 - $2,800 = $43,450
Double-declining-balance rate = [ 2 x ( Cost of Asset - Residual value ) / Useful life ] / Cost of Asset
Double-declining-balance rate = [ 2 x $46250 / 5 ] / $46,250 = 40%
Double Declining balance depreciation for the first year = $46,250 x 40% = $18,500
