Answer:
D. $30,000 overstated
Explanation:
Understatement of ending Inventory overstate the value of cost of Goods sold and understate the value of Net income and retained earning as well.
Overstatement of ending Inventory understate the value of cost of Goods sold and overstate the value of Net income and retained earning as well.
In 2016 the net income and retained earning was understated by $120,000.
In 2017 the net income and retained earning was overstated by $150,000.
Net Effect of both event in Retained earning at January 1, 2018
$150,000 overstated - $120,000 understated = $30,000 overstated
Answer:
SCENERIO 1=BOND
SCENERIO 2=LOAN
SCENERIO 3=STOCK
SCENERIO 4=SECURITIES WHICH ARE GUARANTEED BY LOANS
SCENERIO 5=LOAN
Explanation:
Bond is a type of loan or a financial instrument through which large corporations or Government Institutions borrow money from the public with the aim of paying with a fixed interest rate in a given period.
A Loan is amount requested by an organisation from a financial institution with the aim of paying back with some percentage of interest over a given period of time.
Stocks are also known as shares which forms parts of a particular Company sold to the public with the aim of raising capital, SHARES OR STOCK HOLDERS HAVE CERTAIN RIGHTS TO DIVIDEND AND VOTING TO REPLACE BIARD NENBERS ETC WHEN THE NEED ARISE IN THE ORGANISATION.
Answer: C. in market equilibrium there are no unconsummated wealth-creating transactions
Explanation:Market equilibrium is a term in Macroeconomics used to describe the price at which the Quantity of goods demanded is equal to the Quantity of goods supplied.
Wealth-creating transactions are money making transactions, these transactions are those that takes place and are paid for.
IN A MARKET EQUILIBRIUM THE QUANTITY OF GOODS DEMANDED IS EQUAL TO THE QUANTITY OF GOODS SUPPLIED MAKING THE ECONOMY TO HAVE NO UNCONSUMMATED WEALTH-CREATING TRANSACTIONS.
Answer:
a) Is Santhosh required to increase his withholding or make estimated tax payments this year to avoid the underpayment penalty?
- No he is not required to make any payments or increase his withholdings because this year's withholdings already represent a 133% increase with respect to last year's tax liability. If the withholdings for the current are over 100% last year's tax liability, then the taxpayer doesn't need to make any further adjustments in order to avoid underpayment penalties.
b) By how much, if any, must Santhosh increase his withholding and/or estimated tax payments for the year to avoid underpayment penalties?
Answer:
The correct answer is (A)
Explanation:
The cost which is directly associated with converting materials into a finished product is known as direct labour cost. The cost of wages paid to employees is the direct cost involved in the manufacturing process. In other words, a cost that is directly involved in the production of goods and services is the direct cost, for example, direct cost, direct commission, direct material cost.
