Answer:
Invalid
Explanation:
Since it is stated in the will, that upon his death should the assets be transferred, it means that Silvia doesn't get anything until Mr Jacob ceases to be alive.
With the new development as regards Mr Jacob living for 6 more months before dying, Silvia has no assets yet and as such cannot transfer anything to Jacob Jnr.
Cheers
Adam Smith was the first who alluded to the concept of comparative advantage. This concept has later been elaborated by David Ricardo.
Answer:
Deferred tax liability = $52,500
Explanation:
Difference between depreciation for financial reporting purposes and tax purposes at December 31 = 250,000
Enacted tax rate = 30%
Tax rate for future years = 40%
so Deferred tax liability = $250,000 x 40% = $100,000
Answer:
D. 20 days
Explanation:
Daily usage rate: 50 kg each day
Order size: 1,000 kg
lead time: 4 days
Since the question just wants to know the length of an order cycle, all of the monetary information can be disregarded.
The company must maintain a stock, at the time of order, big enough to supply production during the lead time. Minimum stock should be:

Therefore, the company must reorder when stock reaches 200 kg. The length of the order cycle is the number of days for the company to reach minimum stock added to the order lead time:

Answer:
A. Jan-01
Dr Cash 35,000
Cr Common stock 35,000
Apr-01
Dr Cash 5,940
Cr Common stock 5,940
B. Jan-01
Dr Cash 35,000
Cr Common stock700
Cr Additional paid-in capital 34,300
Apr-01
Dr Cash 5,940
Cr Common stock110
Cr Additional paid-in capital 5,830
Explanation:
a. Preparation of the journal entry to Record the transactions, assuming Clothing Frontiers has no-par common stock.
Jan-01
Dr Cash 35,000
(700 shares*$50 per share)
Cr Common stock 35,000
Apr-01
Dr Cash 5,940
Cr Common stock 5,940
(110*$54 per share)
b. Preparation of the journal entry to Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 stated value common stock.
Jan-01
Dr Cash 35,000
(700 shares*$50 per share)
Cr Common stock700
Cr Additional paid-in capital 34,300
(35,000-700)
Apr-01
Dr Cash 5,940
(110*$54 per share)
Cr Common stock110
Cr Additional paid-in capital 5,830
(5,940-110)