Answer: The correct answer is "Material losses resulting from correction of errors related to prior periods.".
Explanation: It is generally established that the type of loss that is excluded from the determination of net income in the income statement are the material losses resulting from transactions in the company's investments account.
<span>a contractionary fiscal policy that will shift the aggregate demand curve to the left by an amount equal to the initial change in investment times the spending multiplier.</span>
Answer:
The correct answer is D.
Explanation:
Giving the following information:
Total Cost Production (units)
April $119,400 281,300
May 92,000 162,800
June 99,000 238,000
<u>To calculate the variable cost per unit and the total fixed cost, we need to use the following formula:</u>
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (119,400 - 92,000) / (281,300 - 162,800)
Variable cost per unit= $0.231
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 119,400 - (0.231*281,300)
Fixed costs= $54,701
Answer:
A detailed list of the accounts that make up the five financial statement elements.
Explanation:
The company's chart of accounts is the listing of all the accounts that the company has included as part of the five financial statement elements during a specific period of time.
The five financial statement elements are: assets, liabilities, equity (part of the balance sheet), expenses and revenues (part of the income statement).
Examples of accounts that can be part of a firm's chart of accounts are: land (asset), cash (asset), notes payable (liabilities), outstanding stock (equity), operating expenses (expenses), and sales revenue (revenues).
The chart of accounts can differ greatly from company to company simply because companies engage in vastly different economic activities.
Answer:
D) 137000 39000
Explanation:
Allen 140,000
Daniel 40,000
Capital before admission 180,000
share ratio 3:1
Capital after admission:
180,000 + 40,000 = 220,000
David participation: 20%
220,000 x 20% = 44,000
David investment 40,000
goodwill: 4,000
There is a difference in goodwill which will be supported for the old partner as their current share ratio
Allen 4,000 x 3/4 = 3,000
Daniel 4,000 x 1/4 = 1,000
Capital after David admission:
140,000 - 3,000 = 137,000
40,000 - 1,000 = 39,000
