Answer:
The unadjusted Cost of Goods Sold for the year was: $403,000
Explanation:
<u>Calculation of Cost of Goods Sold</u>
Opening Finished Goods Inventory $38,000
Add Cost of Goods Manufactured for the year $415,000
Less Ending Finished Goods Inventory ($50,000)
Cost of Goods Sold $403,000
The above answer can be explained as under.
The total inventory of Barrington = Beginning Inventory + Purchases
Beginning Inventory = $ 100,000, Purchases = $ 750,000
Ending inventory = $ 90,000
Inventory consumed = total inventory of Barrington - Ending inventory = $ 750,000 - $ 90,000
Inventory consumed = $ 660,000
The journal entry to record inventory consumed -
Cost of goods sold ...... Dr.... $ 660,000
Merchandise Inventory.....Cr.... $ 660,000
Solution :
a). The annualization after the tax returns by the investment in corporate from increases with a period of holding. It is true.
The reason is that the profits of the corporate are being taxed at a percentage of 35% instead of being taxed at 40% in the hands of the individual.
b). The statement is false because the annualization return on the investment would be less as the income of the firm will be taxed at the hands of individual for a rate of a personal income that is 40%. So after the annualization return of tax would be less tha in case of the partnership firm.
c). The statement is true. This is because the after the tax profit is distributed to the share holders that are again subjected to the tax in hands of the individual tax payer at 205 to 23.8%. But when the retained earnings are not given off as the dividends, then the net value of the shares will increase there by increasing the capital gains on the sales of the shares which are taxed at lower rate of 20%.
d). This statement is false. It is not that always the corporate firms are preferred, and as the dividends are again subjected to the tax at some different rates that depends on the tax rate of the personal incomes.
e) The statement is true. The corporate income is subjected to any two taxation levels so that the partnership firm is always preferred to corporate firm.
Answer:
Today SIPRI estimated that global military expenditure in 2015 was $1676 billion, about 2.3% of the world's total Gross Domestic Product (GDP). Such high levels of spending frequently raise concerns as to the 'opportunity cost' involved in military spending—the potential civilian uses of such resources that are lost.
Explanation:
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