Answer: Debit to Factory Overhead.
Credit to Factory Utilities Payable.
Explanation:Utilities are part of actual overhead costs. It is a necessary cost in order to operate the factory, but is not DIRECT Labor or DIRECT Material.
She will have to Pay 3650 Dollars for the Spring Semester
-
6000 is Tuition
1500 is Work Grant
1000 is Scholarship
150 is Student Fees
6000 - 1500 = 4500
4500 - 1000 = 3500
3500 + 150 = 3650 For Spring Semester
So you subtract the Work Grant, and Scholarship from her cost. Then you are left with 3500 Dollars. Since the Students Fees are something she has to pay for, you add the amount and it leaves Tara Paying $3650
Answer and Explanation:
As per the data given in the question,
3 of the above items will appear as a cash inflow from investing activities.
These are as follows :
1. Collection of loan receivable.
2. Cash sale of delivery truck at book value.
3. Sale of a security held as an available-for-sale investment.
Any gain or loss on sale of long term asset is an operating activity although any purchase or sale of a long term asset is come under the investing activities.
Loan receivable is an asset too therefore, it will be shown under investing activities.
Answer:
$0
Explanation:
Data provided in the question
Generate loss from an otherwise qualified business activity is $10,000
And, the taxable income is $40,000
Since as we can see that there is a loss in qualified business activity so the QBI deduction is zero as it is calculated only on case of profit
And, the taxable income represents the fixed income not the business income so it would not be considered
Answer:
$7,000
Explanation:
Data provided in the question:
Amount owed by Andrea on a medical bill to university hospital = $12,000
Amount by which the Andrea's debt exceeded her assets = $5,000
Now,
The debt forgiveness that Andrea will need to include in her gross income will be
= Amount owed on a medical bill - The amount by which debt exceeded assets
= $12,000 - $5,000
= $7,000
