The answers are the following:
a.
Brandon:
$7,000 + [($10,000/4)×3¿= $8,500
Ryan:
$7,000 + [($10,000/4)×1¿= $7,500
b.
Brandon $7,000
Ryan <span>$7,000</span>
Answer:
selling price= $25
Explanation:
Giving the following information:
Fixed costs= $78,000
Unitary variable cost= $11
Desited profit= $90,000
Break-even point in units= 12,000
<u>To calculate the selling price, we need to use the following formula:</u>
Break-even point in units= (fixed costs + desired profit) / contribution margin per unit
12,000= (78,000 + 90,000) / (selling price - 11)
12,000*selling price - 132,000 = 168,000
12,000selling price = 300,000
selling price= $25
A flat screen TV
The other options all <em>create value</em>, while a TV does not.
Answer:
Correct option is A.
<u>In general, the basis to the recipient is the fair market value at the decedent's date of death.
</u>
Explanation:
If property is inherited by a taxpayer, <u>In general, the basis to the recipient is the fair market value at the decedent's date of death.
</u>
As per the the law when property is transferred on account of death, then basis to the recipient is the fair market value at the time of death of decedent's.
Answer:
Clorox Company
multiple-step income statement.
Net sales $5,450
Less Cost of goods sold ($3,104)
Gross Profit $2346
Less Operating Expenses :
Selling and administrative expenses $ 715
Research and development expense $ 114
Advertising expense $499 ($1,328)
Operating Income $1018
Less Non Operating Expenses :
Income tax expense $276
Interest expense $161
Other expense $46 ($483)
Net income $535
Explanation:
The multiple-step income statement shows separately the income derived from primary activities (operating income) and secondary activities (net income)
