Answer:
$5,450
Explanation:
Data provided in the question:
List price of the machinery = $88,000
Discount offered = 10%
Amount of discount = 10% of $88,000
= 0.1 × $88,000
= $8,800
Shipping paid = $400
Sales tax = $4,900
Useful life = 10 years
Residual value = $30,000
Now,
Total cost of the machine = List price - Discount + Shipping + sales tax
= $88,000 - $8,800 + $400 + $4,900
= $84,500
Annual depreciation using straight line method is given as:
= 
= 
= $5,450
Answer:
a. Sale of Common Stock.
Classification: Financing activity
b. Sale of Land
Classification: Investing activity
c. Purchase of Treasury Stock
Classification: Financing activity
d. Merchandise Sales
Classification: Operating activity
e. Issuance of a long-term note payable
Classification: Financing activity
f. Purchase of merchandise
Classification: Operating activity
g. Repayment of note payable
Classification:
Financing activity
h. Employee salaries
Classification: Operating activity
i. Sale of equipment at a gain.
Classification: Investing activity
j. Issuance of bonds
Classification: Operating activity
Answer:
C, a primary form of corporate giving
Explanation:
Corporate giving can be defined as gifts or donations made by a corporation to its environment.
It can also be said to be the social and/or philanthropic contributions of a corporation to its environment.
Clause-related marketing is one in which a corporation uses its activities to market another corporation.
This type of marketing is an form of corporate giving as it helps to put focus on the other company through its own activities in that company.
Cheers.
<u>Solution and Explanation:</u>
<u>The following steps should be undertaken:
</u>
1. She should create extensive records of receipts, expenses, and other business dealings to demonstrate her profit intent which will give strength to fact that her activity is a business endeavor rather than hobby.
2. Secondly, she should keep ready a written and well-documented business plan clearly outlining the steps she would be taking to cut down losses and start earning profit.
3. She should demonstrate that she depends on her business endeavor for her livelihood to repel notion of it being a hobby.
