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Alex777 [14]
4 years ago
14

Canton Corporation reported the following items in its adjusted trial balance for the year ended December 31, 2016:

Business
1 answer:
Scilla [17]4 years ago
7 0

Answer:

                                            Canton Corporation

                         Income Statement for December 31, 2016

                                                                                                        $

income from continuing operations before income taxes     110,000

Less: Income Tax 30%                                                              <u>38,500</u>

Income from continuing operations                                        71,500

Gain on disposal of discontinued component          28,000

Tax on disposal of discontinued component             (8,400)

Loss from operations of discontinued component <u>(50,000)</u>

Net loss from discontinue operations                                     <u>(30400)</u>

Total Comprehensive Income                                                   <u>41,100</u>

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Answer:

the equivalent units of production for materials for the month of January is 89,100 units

Explanation:

The computation of the equivalent units of production for materials for the month of January is shown below:

= Units completed + completed units in ending inventory

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= 69,900 units + 19,200 units

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hence, the equivalent units of production for materials for the month of January is 89,100 units

4 0
3 years ago
A local philanthropist made an unconditional pledge to donate $100,000 to a not-for-profit organization to be paid in five equal
sweet [91]

Answer:

The correct answer is C)

Explanation:

A pledge in this context is a vow or a promise to make a donation or give something at a future date. It may be vocalized or communicated in writing.  

The Financial Accounting Standards Board (FASB), sets out the criteria for recognizing a pledge or a promise as follows:

  1. Relevance— If the promise is important enough to make a difference in the users  decisions,  then it ought to be recognized
  2. Definitions—If the item satisfies the definition of a component of a financial statement, then it ought to be recognized;
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  4. Measurability— if it allows for measurability, then it should be recognized

It is clearly stated that where the certainty or reliability of a promise or a vow is difficult that measure, it is better to decline from recognizing such a pledge.

                 

Cheers!                      

8 0
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What is a good way to find a business idea that'll
sergiy2304 [10]

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Search the internet

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3 0
4 years ago
The price of a bond is equal to the sum of the present values of its future payments. Suppose a certain bond pays $50 one year f
Studentka2010 [4]

Answer:

The correct answer is $1,000.

Explanation:

According to the scenario, the given data are as follows:

For one year

Bond pay (p) = $50

Time period (t)= 1 year

Interest rate (r) = 5%.

So, Price of bond for 1st year = p ( 1 + r)^-t

By putting the value, we get

Price of bond for 1st year = $50 ( 1 + 0.05)^-1 = $47.62

For Second year

Bond pay (p) = $1,050

Time period (t)= 2 year

Interest rate (r) = 5%.

So, Price of bond for 2nd year = p ( 1 + r)^-t

By putting the value, we get

Price of bond for 2nd year = $1,050 ( 1 + 0.05)^-2 = $952.38

So, Total price of the bond = Price of bond for 1st year + Price of bond for 2nd year

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To manage the changes that generate adherence to the use of GPS systems at Go Grub, it is necessary for managers to look for methods to demonstrate the advantages of the changes, such as:

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It is also important to train the employee to reduce insecurity and be honest about how the changes will make the job better, and then proceed with the changing and refreezing, according to Lewin's model.

Learn more here:

brainly.com/question/1897620

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