Answer:
the file attached shows the whole explanation. I hope it helps.
Explanation:
Complete question
Compute the depreciation deductions that Hernandez, Jackson, and Twist may claim under the following assumptions. If an amount is zero, enter "0". Do not round any division. Depreciation Deductions Hernandez Jackson Twist Trust
a. Depreciation deduction allocated to corpus. Hernandez$_____ Jackson$_____ Twist Trust$_____
b. If depreciation was allocated to income. Hernandez$_____ Jackson$_____ Twist Trust$_____
c. If the trustee distributed $15,000 each to Hernandez and to Jackson and retained the remaining accounting income. Hernandez$_____ Jackson$_____ Twist Trust$_____
d. If Twist is an estate (not a trust) and depreciation deduction allocated to corpus.
Answer:
The answer is stated below:
Explanation:
The accounting equation is as follows:
Assets = Liabilities + Stockholders' Equity
Analyzing the transactions:
1. The service is provided to customer on account, which result in increase in assets and the stockholders' equity
So,
Assets = Liabilities + Stockholders' equity
+ $4,000 = $0 + +$4,000
2. The equipment is purchased by signing a note, which result in increase in liability and also increase in the assets.
So,
Assets = Liabilities + Stockholders' equity
+ $10,500 = +$10,500 + $0
3. Paid for the advertising, which result in decrease in cash as well as decrease in the equity of the company.
So,
Assets = Liabilities + Stockholders' equity
- $1,200 = $0 + -$1,200
Answer:
Option (D) is correct.
Explanation:
Given that,
Direct materials used in production = $250,000
Direct labor = $185,000
Manufacturing overhead = $245,500
Beginning Work in Process Inventory = $20,000
Ending Work in Process Inventory = $30,000
Cost of finished goods manufactured for the year:
= Direct materials used in production + Direct labor + Manufacturing overhead + Beginning Work in Process Inventory
= $250,000 + $185,000 + $245,500 + $20,000 - $30,000
= $670,500
Answer:
"Actions To Take"
Check my records first
Contact the bank right away
Handle the matter quickly
"Actions To Avoid"
Set the note aside and wait until later
Answer:
<u>Annual rate of return which will be earned from today is 5.89%</u>
Explanation:
FV = PV (1+r)^n
r is int Rate per anum abd n is balance period
10000 = 6700 ( 1 + r)^n
10000 = 6700 ( 1 + r)^7
( 1 + r)^7 = 10000 / 6700
= 1.4925
1+r = 1.4925^(1/7)
= 1.0589
r = 1.0589- 1
= 0.0589 i.e 5.89%
