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Reika [66]
3 years ago
12

Juanita is the sole shareholder of Belize Corporation (a calendar-year S corporation). She is considering revoking the S electio

n. It is February 1, year 1. What options does Juanita have for timing the effective date of the S election revocation
Business
1 answer:
Yanka [14]3 years ago
7 0

Answer:

January 1 Year 2 would be an effective date.

Explanation:

Juanita have two ( 2 ) options and they are

  • Terminating the election after March 15th
  • Terminating the Election at the beginning of the next Financial year

Since it is already February 1 Year 1 , The most effective date for the S election revocation would be January 1 year 2 ( calendar-year of S corporation ) .

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Bay City uses the purchases method to account for supplies. At the beginning of the year the City had no supplies on hand. Durin
Rasek [7]

Answer:

Supplies Expenditure $600,000

Supplies Inventory $200,000

Explanation:

Calculation for the appropriate account balances related to supplies expenditures and supplies inventory :

Supplies Expenditure will be $600,000 because during the year purchased of $600,000 supplies were made.

Therefore Supplies Expenditure will be $600,000

Supplies Inventory will be:

Purchased supplies $600,000

Less used supplies $400,000

Balance =$200,000

Therefore Supplies Inventory will be $200,000

6 0
3 years ago
Ruskin has a $150,000 cash balance on both its ledger balance and its available bank balance. Of Ruskin receives a check and dep
Alex Ar [27]

If Ruskin receives a check and deposits it in its checking account, the float amount is $300,000.

<h3>What is the float amount?</h3>

The float amount is the amount that a customer's account reads in the bank at a particular point in time.

The float amount is usually briefly counted twice due to time gaps in registering a deposit and processing the paper checks.

Thus, if Ruskin receives a check and deposits it in its checking account, the float amount is $300,000.

Learn more about the float amount in the bank at brainly.com/question/24161262

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5 0
2 years ago
Which of the quadrants in the service process matrix has high labor intensity and high​ customization?A.service factoryB.profess
Lynna [10]

B. Professional Service

The service process matrix rates services from low to high on labor intensity and on customization. Professional services are high on both.

6 0
3 years ago
Kelfour Enterprises has divided its operations into two divisions. Relevant accounting data for each division is as follows: Div
HACTEHA [7]

Answer:

Option D is Correct.

All of the above statements are true.

Explanation:

The supervisor of the Western division is probably going to dismiss an idea to have the assets contributed her area of expertise - > in light of the fact that their current ROI is MORE than her ROI when contributing the assets  

The chief of the Eastern division is probably going to acknowledge an idea to have the assets contributed his specialization. Since their current ROI is LESS than her ROI when contributing the assets.

The CEO of Kelfour is probably going to support having the assets put resources into the Western Division. Since their current ROI is MORE express gratitude toward East's current ROI.

3 0
3 years ago
The sum of all the depreciation expense recorded to date for a depreciable asset is called
erica [24]
This is called accumulated depreciation
8 0
4 years ago
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