Add and simplify 9/19= 1/2

Korte Company reported the following information for 2014:

sergejj [24]

Answer: For 2014, Korte would report comprehensive income of $341,000.

Explanation:

Korte Company

Comprehensive income statement for 2014 (extract)

Sales revenue $1,500,000

Cost of goods sold (1,050,000)

Gross profit 450,000

Operating expenses (165,000)

<em>Other income:</em>

Unrealised gain on AFS securities 50,000

Dividends received 6,000

Comprehensive income $341,000

4 0

3 years ago

The American Opportunity tax credit:_____. A. is 50% of the first $1,200 of tuition and fees paid and 100% of the next $1,200. B

mamaluj [8]

Answer:

C. Is available for qualifying expenses paid on behalf of the taxpayer and his or her spouse, in addition to those paid for dependents

Explanation:

American Opportunity tax credit was called the HOPE credit. It is available for the first four years of an individual's post secondary school education.

It covers 100% of the first $2,000 cost for tuition, fees, books, and course material.

Items that do not qualify are room and board, transportation cost and personal expenses.

The tax credit is available for qualifying expenses paid on behalf of the taxpayer and his or her spouse, in addition to those paid for dependents.

6 0

3 years ago

Leaders who ensure their employees take part in decision making have a(n) ___________ leadership style.

slava [35]

Answer:

D- participate

Explanation:

leaders who have participate leadership skill or style allow their employees take part in decision making making the leader open to many possibilities and ideas.

5 0

3 years ago

Alin Co. purchases a building for $300,000 and pays an additional $30,000 for closing costs (brokerage, title, attorney fees). A

Yuri [45]

Answer:

The answer is: $350,000

Explanation:

When Alin Co. establishes the total cost of the building it just purchased, it must include all of the following:

building's purchase value $300,000
associated closing costs $30,000
building improvements and renovations $20,000

So the total cost of the building is $300,000 + $30,000 + $20,000 = $350,000

3 0

3 years ago

Prior to adjustment at August 31, Salaries Expense has a debit balance of $272,650. Salaries owed but not paid as of the same da

zlopas [31]

Answer:

A. Dr Salary Expense $3,140

Cr Salary expense outstanding $3,140

B. Dr Income summary $275,790

Cr Salary expense $275,790

Explanation:

A. Preparation of the adjusting entry to record accrued salaries as of August 31

August 31

Dr Salary Expense $3,140

Cr Salary expense outstanding $3,140

(To record accrued salaries)

B. Preparation of the Closing entry on August 31

August 31

Dr Income summary $275,790

Cr Salary expense $275,790

($272,650+$3,140)

(To record Closing entry)

5 0

3 years ago