Answer: His cost deduction would be $3,200
Explanation:
Without the mid-quarter convention Muhammad’s 2019 MACRS deduction would be $3,200 ($16,000 x .20). The mid-quarter convention slows down the taxpayers available cost recovery deduction.
Answer:
All of the following are organization-directed benefits associated with offering unconditional guarantees except:
a. the guarantee provides a means to avoid bankruptcy.
Explanation:
Providing or offering customers unconditional guarantees does not help the company to avoid bankruptcy. Bankruptcy arises from inadequate financing resulting from overtrading. Importantly, offering guarantees to customers communicates a clear performance goal to employees to improve service delivery to customers.
Answer:
Part a
Debit : Accounts Receivable $18,000
Debit : Cost of Sales $10,800
Credit : Sales Revenue $18,000
Credit : Inventory $10,800
Part b
Debit : Cash $16,200
Debit : Discount allowed $1,800
Credit : Accounts Receivable $18,000
Part c
Debit : Accounts Receivable $600
Credit : Cash $600
Explanation:
The perpetual method calculates the cost of sales for each transaction made.
See the journals prepared as above
There are a lot of ways to beautify the home. The people required to provide the landscaping services are considered is <u>Inputs</u>.
<h3>What is a landscaping person?
</h3>
- A landscaper is known to be a person who earns a living by working on the earth and water so that it can become more beautiful or more aesthetically pleasing.
They are often trained in landscaping as they work to improve the existing layout and as such they are known to be <u>input </u>as they are contributing something to the beauty of the landscape.
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