Answer:
$2,800
Explanation:
Particulars Amount
Favorable temporary difference at the end of 20X2 $7000
* Income tax rate <u> 40% </u>
Deferred tax asset account at the end of 20X2 <u>$2,800</u>
Answer:
Value added
Explanation:
Value-added - it is the total difference that comes out between the product value in the market and the cost of producing that product. cost of a product is based on the survey which gives the idea that how much cost may be assigned to the product.
The value of this difference help to determine the profit on products.
Higher the value of add, higher will be the charges of product and higher will be the revenue collected.
The amount of the option fee need to be on amount agreed to by the parties in order to be legally binding.
<h3>What is a lease agreement?</h3>
A lease agreement is a legal arrangement whereby a person give another person the right to possess the land for use in return for a periodic compensation.
However, the lease agreement can lead to permanent purchase, based on the agreement of the lease.
In conclusion, the amount of the option fee need to be on amount agreed to by the parties in order to be legally binding.
Read more about lease agreement
<em>brainly.com/question/24460932</em>
Answer: Option (c) is correct.
Explanation:
Given that,
Beginning work in process = 20,000 units and 70% completed
So, Units transferred = 20,000 × 30%
= 6,000
Direct transferred = 80,000 units
Ending work in process = 10,000 × 40%
= 4,000
Therefore,
Units were transferred out of the process in June:
= Beginning WIP transferred + Direct transferred + Ending work in process
= 6,000 + 80,000 + 4,000
= 90,000 units
