Answer:
Units transferred out less units in beginning work in process.
Explanation:
A process costing system is generally used when similar or identical products are mass produced.
To determine the total number of units transferred out = beginning work in process + units started and transferred out - ending work in process
To determine the amount of units started and completed = total units transferred out - beginning work in process
Answer:
Income Statement is attached in the pictures.
Explanation:
Answer:
Uncollectible account expense $8,600
Explanation:
The computation of the amount as the Uncollectible Accounts Expense on its Year 2 income statement is given below:
Allowance account - Beg year 2 $3,600 Credit
Written off account $6,600 Debited by
Unadjusted balance in Allowance account $3000 Debit
Adjusted balance required in Allowance account $5,600 Credit
Uncollectible account expense $8,600
The answer is $6200.00
Based on https://taxfoundation.org/2014-tax-brackets/
The standard deduction single based on the source is $6200. Tax exemptions for singles are up to $52,800. The threshold on this tax is an annual salary of $254,200. Higher salaries would have higher tax deductions. Once a single tax holder enters $376,700 the person would no longer be included for higher exemption because of the gross compensation increase.
Answer:
Explanation:
In the former case that is investment in security that pays interest of 8% per year for the next 2 years , there is provision of fixed interest rate . That means one can be assured of interest rate of 8 % for two years but he can not get benefit of market fluctuation if interest rate if it rises above 8 % after one year .
In case of investment in security that matures in 1 year but pays only 6% interest , one can take the benefit of market fluctuation if interest rate rises above 8 % . So if there is likelihood that interest rate can rise above 8 % in future , one should invest in 6% security for one year and reinvest it after one year , in the same security or in other security which fetches higher rate of interest .
Apart from that , if there is a contingent liability of paying after one year , one can not go in for 2 year security as it will have to break prematurely , that will result in loss of interest .
So due to situation described above, one should prefer investment in one year security .
