1.A.The mission of the System
2.C.Losses
3.B.Operational Characteristics
Answer:
$110,000
Explanation:
The closing balance in the finished goods inventory account is a function of the opening balance and the net movement that occurred during the year.
As such, the closing balance
= opening balance + purchases/production - sales
Given;
opening balance = $185,000
purchases/production = $550,000
sales = $625,000
Therefore,
closing balance in the finished goods = $185,000 + $550,000 - $625,000
= $110,000
Answer:
The equivalent units of production for conversion cost would be $11,680 units
Explanation:
The computation of the equivalent unit of conversion is shown below:
= (Beginning inventory units × remaining percentage) + (units started and completed units × completed percentage) + (ending inventory units × completed percentage)
= (6,800 units × 25%) + (6,500 units × 100%) + (5,800 units × 60%)
= 1,700 units + 6,500 units + $3,480 units
= $11,680 units
Answer:
The answer is given below;
Explanation:
Income Tax Payable =1,800,000*30%=$540,000
Deferred Tax Asset=3,000,000*30%=$900,000
Deferred Tax liability=2,400,000*30%=$720,000
Therefore the income tax expense=$540,000+$720,000-$900,000=$360,000
The litigation expense will be deductible from taxable income when paid,therefore it will give deferred tax asset.
Profit on installment sales will give rise to more profits being subjected to taxes,therefore it gives rise to deferred tax liability.
Answer:
hello your question is incomplete here is the complete question
Suppose in the Republic of Sasquatch that the regulation of banking rested with the Sasquatchian Congress, including the determination of the reserve ratio. The Central Bank of Sasquatch is charged with regulating the money supply by using open market operations. In September 2015, the money supply was estimated to be 70 million yetis. At the same time, bank reserves were 8.4 million yetis and the reserve requirement was 12 percent. The banking industry, being "loaned up," lobbied the Congress to cut the reserve ratio. The Congress yielded and cut the reserve requirement to 10 percent.
The potential impact of this action could
a. decrease
b. increase
the money supply by ?
nothing
million yetis.
Answer : increase and million yetis
Explanation:
If the congress yields to the lobby by the banking industry and cut the reserve ratio requirement from 12 percent to 10 percent it significantly will affect the increase in money in supply by ( 1.4 million yetis )
and this increase in money supply will lead to an increase in loanable funds and this will encourage investors t take up loans in which the banking industry will benefit from interest charged on loanable funds given to the investors.
