Answer:
A. $21,000
Explanation:
The temporary difference is a difference between carrying amount of an asset or liability in a Balance sheet and carrying amount of an asset or liability in its tax base. In the given scenario the temporary difference relates to installments sales which are $60,000 recorded in the book purpose. The tax base is different than the amount recorded in the company book. According to U.S. GAAP the deferred tax amount will be $60,000 * 35% which is current year tax rate.
Answer:
Option E Debit another asset account for $2,400.
Explanation:
The other account which was debited with an excess amount to credit entry is $2400. This requires an adjustment for $2400 with credit entry to balance the credit and debit entry. So the only entry with debit is incorrect here which will not balance the entry and increase the difference between credit and debit.
So the option E is the option here which is will not complete the recording of transaction.
Learning.
Or at least I believe so. Are there multiple choice?
Answer:
$21.72
Explanation:
Sales tax is 6%
The cost of the oven is $362
Sales tax for the oven will be 6% of $362
=6/100 x $362
=0.06 x $362
=$21.72
Answer:
a. XYZ's average selling price per handlebar last year was $30
b.
XYZ's total variable costs last year were $36,000
c. XYZ's average unit variable costs last year were $6
d. XYZ's average unit contribution margins ($) last year were $24
Explanation:
a.
XYZ's average selling price per handlebar last year = Total Sales/number of handlebars sold = $180,000/6,000 = $30
b.
XYZ's total variable costs last year = total costs - fixed costs = $100,000 - $64,000 = $36,000
c. XYZ's average unit variable costs last year = Total variable costs/number of handlebars = $36,000/6,000 = $6
d. XYZ's average unit contribution margins ($) last year = Selling price per handlebar - average unit variable costs = $30 - $6 = $24
