Answer:
$36,000
Explanation:
The computation of the adjusted gross income for the present year is as follows:
= Ordinary income + short term capital gain - short term capital loss + long term capital gain
= $35,000 + $3,000 - $6,000 + $4,000
= $36,000
Hence, the adjusted gross income for the present year is $36,000
The same is relevant
Answer:
$11.1
Explanation:
We can calculate the factory overhead allocated to a unit using multiple department factory overhead rate methods with an allocation base of direct labor hours. In this method, we will divide the te total overhead cost in direct labor hours consumed in that department.
Solution
Direct Labor Overhead rate for Finishing = $550,000/500,000
Direct Labor Overhead rate for Finishing = $1.10 per hour
Direct Labor Overhead rate for Production = $400,000/80,000
Direct Labor Overhead rate for Production = $5
Overhead for DeskLamps = (Direct labor hours in Finishing x Direct Labor Overhead rate for Finishing + Direct Labor hours in Production x Direct Labor Overhead rate for Production)
Overhead for DeskLamps= (1x$1.10 + 2x$5)
Overhead for DeskLamps= $11.1
The answer is cost of goods sold... brainliest plz
Answer:
b. Liability, $9,000,000; expense, $0.
Explanation:
An asset retirement obligation (ARO) refers to an obligation with respect to the acquisition , construction, development, etc. The liability should be recognized the liability at the present value that should be expected to be paid for settling the obligations
Here the $9,000,000 million represents the liability
Also the journal entry is
Asset Dr
To liability
(Being the asset placed is recorded)
There is no expense should be recorded in the income statement
Cash receipts from customers = $136,000
cash payment for operating expenses = $102,000
tax paid = 1 / 3
Amount on which tax paid = $9,300
amount of tax paid = $9,300 / 3 = $3,100
net cash provides by operating activities = ?
Net cash = cash from customers - cash payment for operating expense - amount of tax paid
= $136,000 - $102,000 - $3,100
= $30,900
so the net cash provided by operating activities is $30,900
