Answer:
Net increase in Capital Assets with amount of USD 38,000/-
Answer:
$4,350
Explanation:
Calculation to determine the amount of Riley's casualty loss deduction
Using this formula
Casualty loss deduction=Adjusted basis - insurance reimbursement
Let plug in the formula
Casualty loss deduction=($5,675 − $1,325)
Casualty loss deduction=$4,350
Therefore the amount of Riley's casualty loss deduction is $4,350
Answer:
That statement is true.
Explanation:
In business, compliance department is created in order to identified various forms of risks that might be faced by the companies and implement a certain set of controlled procedure to prevent that risks from happening.
This cover wide variety of risks starting from :
<u>- financial </u>
Risk that involved implementing the wrong strategy which could lead to decreased profit
<u>- Procedural</u>
Risk that involved Unproductive behaviors or Frauds conducted within the company territory
<u> - safety</u>
This include protection both physical and emotional safety . Such as making sure that no abuse occurred to the employees, non-dangerous work environment, usage of safe materials, etc
Answer:
$22,500 increase
Explanation:
The computation is shown below:
Variable cost per unit is
= ($165,000 - $44,000) ÷ 11,000 units
= $11
And, the Sales price per unit is $16
So, the Profit per unit is
= $16 - $11
= $5 per unit
Now the company income would be
= 4,500 units × $5 per unit
= $22,500 increase
Hence, the company income would be increased by $22,500