The 4,000 accounts receivable of Miller Company have a total book value of $150,000. A CPA has selected and audited a sample of
1 answer:
Answer:
c. $154,000.
Explanation:
According to the difference value technique, the average difference between audited value and book value for the sample should be replicated for the whole population of 4,000 accounts. The average difference per account is:
This means that the audited value is $1 greater than the book value for each account, assuming 4,000 accounts with a book value of $150,000, the audited value is:
Estimated total audited value of the population is: c. $154,000.
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Answer:
Emerald’s deduction for organizational expenditures is = $4550
Explanation:
given data
Expenses of temporary director and organizational meeting is = $27,000
Fee paid to state of incorporation = 1,000
Accounting services incident = 15,500
Legal services = 9,500
Expenses incident printing and sale = 6,000
to find out
Emerald deduction for organizational expenditures
solution
first we get here total Qualifying organizational expenditures that is
total Qualifying organizational expenditures = $27,000 + $1,000 + $15,500 + $9,500
total Qualifying organizational expenditures = $53000
and Immediate expensing will be as
Immediate expensing = $5000 - ($53000 - $50000)
Immediate expensing = $2000
so now we get here Emerald Corporation deduction under §248 for 2018 is
Amortization = × 9
here tax in year = 9 month
Amortization = $2550
Emerald’s deduction for organizational expenditures is = $2550 + $2000
Emerald’s deduction for organizational expenditures is = $4550