Answer: Yes, because Congress was acting pursuant to the Bankruptcy Clause of Article I, Section 8, Clause 4, in subjecting the state to the Bankruptcy Act.
Explanation:
Bankruptcy Clause of Article I, Section 8, Clause 4 also know as uniform rule of naturalization states to establish a uniform rule of naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States; ArtI.S8.C4.1 Naturalization Power.
The trustee can force the state to turn over the transferred property because they act on force the state to turn over the transferred property
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For the purpose of accounting, there are three types of expenditure.
1) Capital Expenditure
It is the amount incurred
in acquiring long term assets like land, buildings, equipments (which
are used for the purpose of earning revenues). These costs are reflected
in the account of Property, Plant and Equipment.
2) Revenue
Expenditure
It is the cost incurred in one accounting year wherein the benefits
are also enjoyed in the same period only. It does not increase the
earning capacity of the business, instead, it maintains the existing
earning capacity of said business. This expenditure is recurring in
nature like salaries and wages, selling and distribution expenses.
3) Deferred
Revenue Expenditure
It is a revenue Expenditure which has been incurred
within the current accounting year but its benefit will be extended to a
number of years. This cost is charged to the Profit and Loss account.
Example of this is advertising cost.
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Answer:
$1.40 per share
Explanation:
The computation of the diluted earning per share is shown below:
Diluted earning per share = Net income ÷ weighted number of shares
where,
Net income is $300,000
And, the weighted number of shares is
= 200,000 shares + (45,000 options - 45,000 options × $10 ÷ $15
= 200,000 shares + (45,000 options - 30,000 options)
= 200,000 shares + 15,000
= 215,000 shares
So, the diluted per share is
= $300,000 ÷ 215,000 shares
= $1.40 per share
Answer:
overapplied
Explanation:
When we say that manufacturing costs were overapplied, it means that at the beginning of the production process the estimated costs were too high. In other words, the budget considered that it would cost more money to produce the goods.
In this case, overhead costs tend to be overestimated and then overapplied because they rely on past data and efficiency can improve, which lowers costs; or the total production output can be lower than estimated, therefore the company incurred in less costs.
Depending on the cause of the actual lower costs it can be good or bad. If the costs were lower due to improved efficiency, then it is very good. But if the costs were lower due to a lower output, then that is not good.
Answer: A trial balance is a bookkeeping worksheet in which the stability of all ledgers are compiled into debit and savings account column totals that are equal. The typical purpose of producing a trial stability is to ensure the entries in a company's bookkeeping device are mathematically correct.
Explanation:
