Prepare adjusting entries for the following transactions.

Fifteen percent of the students in a school of Business Administration are majoring in Economics, 20% in Finance, 35% in Managem

Lina20 [59]

D/ both a bar and pie graph can be used

4 0

3 years ago

Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received

aleksley [76]

Answer:

A. $11,970

B. $11,890

C. January

Explanation:

a. Calculation for the after-tax cost if Isabel pays the $19,000 bill in December

After-tax cost=$19,000 - ($19,000 x 37%)

After-tax cost= $19,000 - $7,030

After-tax cost= $11,970

Therefore the after-tax cost if Isabel pays the $19,000 bill in December will be $11,970

b. Calculation for the after-tax cost if Isabel pays the $19,000 bill in January

First step is to calculate the cost before taxes

Cost before taxes = $19,000 - ($19,000 x 8%/12) Cost before taxes= $19,000 - $127

Cost before taxes= $18,873

Now let calculate the After-tax cost

After-tax cost = $18,873 - ($18,873 x 37%)

After-tax cost= $18,873 - $6,983

After-tax cost = $11,890

Therefore the after-tax cost if Isabel pays the $19,000 bill in January will be $11,890

c. Based on the above calculation for both a and b, Isabel should pay the amount of $19,000 bill in January reason that it has the lowest cost of debt of the amount of $11,890 compare to December which has the cost of debt of the amount of $11,970.

5 0

2 years ago

The fasb's conceptual framework classifies gains and losses based on whether they are related to an entity's major ongoing or ce

andre [41]

These gains and losses may be described or classified as either operating or nonoperating, depending on their relation to an entity's major ongoing or central operations.

<h3>What does Conceptual Framework say about profit and loss?</h3>

The Exposure Draft proposed that, because profit or loss is the primary source of information about an entity's financial performance for the period, the framework should include a presumption that all income and all expenses will be included in that statement.
The FASB's conceptual framework classifies gains and losses based on whether they are related to an entity's major ongoing or central operations.
Nonoperating are “other” gains and losses.

To learn more about Fasb gain and loss, refer

to brainly.com/question/24448358

#SPJ4

7 0

1 year ago

Myrtle Flower Company, sends its management trainees to an assessment center. There, the employees are assigned to small groups

soldi70 [24.7K]

Answer:

leaderless group discussion

Explanation:

Based on the scenario being described it can be said that the type of term for this type of development exercise is a leaderless group discussion or LGD for short. This exercise focuses on placing individuals in a group in order to work together on solving specific problems without help from a trained professional or expert in the matters that they are dealing with.

6 0

2 years ago

Downs Tax Planning Service bought communications equipment for $9,600 on January 1, 2017. It has an estimated useful life of fiv

MaRussiya [10]

Answer:

$960

Explanation:

For computing the accumulated depreciation, first we have to compute the depreciation expense which is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($9,600 - $0) ÷ (5 years)

= ($9,600) ÷ (5 years)

= $1,920

This is a full year depreciation but we have to find out for June 30,2017 i.e 6 months

= $1,920 ÷ 12 months × 6 months

= $960

The same is recorded as an accumulated depreciation

3 0

3 years ago