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4 years ago

What was your annual net income for your most recently filed tax year?

Business

1 answer:

Bond [772]4 years ago

7 0

Explanation:

Incomplete question. However, i infer you want to know what the annual net income implies.

Thus, itis important you know that the annual net income is calculated after taxes are deducted from the total salary one earns in a year's. So to determine the value, you need to know the total taxes for the year.

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Alpha First Company just began business and made the following four inventory purchases in June: June 1 150 units $1040 June 10

grandymaker [24]

Answer:

a. $1508

Explanation:

June 1 150 units

June 10 200 units

June 15 200 units

June 28 150 units

Total 700 units

Out of above, only 210 units are in hand. Under LIFO method, 150 units are from 1st June and 60 units are from 10th June.

Date Units (a) Per unit cost (b) Ending inventory (a*b)

June 1 150 $6.93 (1040/150) $1.040

June 10 60 $7.8 (1560/200) $468

Total 210 $1,508

So, using the LIFO inventory method, the value of the ending inventory on June 30 is $1,508

3 0

3 years ago

Seasons Construction is constructing an office building under contract for Cannon Company and uses the percentage-of-completion

Alekssandra [29.7K]

Answer:

Explanation:

total contract price is $ 18,600,000

season construction using percentage of completion method.

Amount of revenue & construction expense for the year ended december 31, 2020 will be

25% of $ 18,600,000 revenue = $ 4,650,000

25% of $ 18,750,000 total cost = $5,250,000

5 0

4 years ago

Coronado Industries reported total manufacturing costs of $450000, manufacturing overhead totaling $68000, and direct materials

Novosadov [1.4K]

Answer:

$296,000

Explanation:

Calculation for How much is direct labor cost

Using this formula

Direct labor cost=Total manufacturing costs-Manufacturing overhead totaling-Direct materials totaling

Let plug in the formula

Direct labor cost=$450,000 - $68,000 - $86,000

Direct labor cost=$296,000

Therefore the direct labor cost will be $296,000

6 0

3 years ago

Warren Co. recorded a right-of-use asset of $820,000 in a 10-year finance lease. The interest rate charged by the lessor was 10%

Sphinxa [80]

Answer:

$656,000

Explanation:

Calculation to determine what The balance in the right-of-use asset after two years will be

Using this formula

Right-of-use asset after 2 years balance=Value of Asset- (Value of Asset*Used year)/Estimated Life

Let plug in the formula

Right-of-use asset after 2 years balance= $820,000 - ($820,000 / 10) * 2

Right-of-use asset after 2 years balance=$820,000-$164,000

Right-of-use asset after 2 years balance= $656,000

Therefore The balance in the right-of-use asset after two years will be:$656,000

4 0

3 years ago

Ted has paid off half of his mortgage. Which payment is he no longer required to make?

pochemuha

His PMI insurance also known as his mortgage insurance

5 0

3 years ago

Read 2 more answers