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IceJOKER [234]
3 years ago
12

Tempest Enterprises began operations on January 1, 20x1, with all of its activities conducted from a single facility. The compan

y's accountant concluded that the year's building depreciation should be allocated as follows: selling activities, 20%; administrative activities, 35%; and manufacturing activities, 45%. If Tempest sold 60% of 20x1 production during that year, what percentage of the depreciation would appear (either directly or indirectly) on the 20x1 income statement?
Business
1 answer:
Ray Of Light [21]3 years ago
3 0

Answer:

100% will be included in the Income Statement

Explanation:

Always remember that the depreciation calculated for the accounting period can be apportioned as per the International Accounting Standard IAS 2, which says that expenses must be classified in a manner that results in the truth & fairness of the Financial Statements. This means that if depreciation calculated is $500 then the whole of this depreciation will be expensed out in the income statement. It's 20% might go to selling activities, 35% to administrative activities, and 45% to manufacturing activities.

<h3><em>B</em><em>ut remember that the depreciation calculated for the accounting period would be expensed out by $500 in the income statement, for the period generated.</em></h3>
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Under which type of policy does the government reduce its expenditures and increase tax rates? A. contractionary monetary policy
zloy xaker [14]

Answer:

B. contractionary fiscal policy

Explanation:

The government influences economic direction through fiscal policy measures of increasing or decreasing its expenditure and taxation. Therefore, fiscal policies involve the government's actions of adjusting its spending and taxation to achieve desired economic objectives.

Fiscal policies can either be contractionary or expansionary. Contractionary measures are applied to control rising inflation and moderate the rate of growth. These policies aim at reducing liquidity in the market, thereby achieving stable prices. A reduction in government spending and an increase in taxation reduces liquidity or money circulation.

4 0
3 years ago
Fiduciary activities are reported only in the fiduciary fund financial statements; they have no effect on the governmental or bu
LuckyWell [14K]

Answer:

The correct answer is True.

Explanation:

Fiduciary assignments that have as their object the realization of investments, the administration of goods or the execution of activities related to the granting of guarantees by third parties to ensure the fulfillment of obligations, the administration or surveillance of the goods on which the guarantees fall and the carrying them out, subject to the restrictions established by law; act as transfer agent and register of securities; act as a representative of bondholders; act as trustee, curator of property or as depositary of sums recorded in any court, by order of judicial authority or by determination of persons who have legal power to designate them for such purpose.

Fiduciary companies may carry out investment trust operations through commercial fiduciary contracts, concluded in accordance with legal formalities, or through fiduciary orders.

Fiduciary activities are not reported in the government-wide financial statements

They may form ordinary common investment funds integrated with monies received from various constituents or adherents for this purpose.

4 0
3 years ago
Herbert gained most of the capital for his new start-up project by posting a small demonstration of his product on a website tha
qwelly [4]

Answer:

d. was able to fund his project through seed money.

Explanation:

Seed money or seed funding is the first fund or seed that is obtained for a new business idea. Mostly seed money is obtained from friends, family, and colleagues.

Herbert had a great idea by presenting a demonstration of his product on a website, attracting people with interest to fund the start-up.

8 0
3 years ago
Which of the following is NOT a form of protectable intellectual property (IP)? Select one: a. Registered trademark b. Copyright
garri49 [273]

Answer:

The answer is d. All of the above are forms of protectable IP

Explanation:

Intellectual Property Protection is protection for inventions, literary and artistic works, symbols, names, and images created by the mind.One can protect their intellectual property by using Patents, Trademarks, Trade Secrets, and Copyrights.

5 0
3 years ago
Sun Co. was constructing fixed assets that qualified for interest capitalization. Sun had the following outstanding debt issuanc
inessss [21]

Answer:

the interest rate that should be determined the capitalized interest is 8.57%

Explanation:

The computation of the interest rate that should be determined the capitalized interest is shown below;

= $6,000,000 ÷ ($6,000,000 + $8,000,000) × 0.08 + $8,000,000 ÷  ($6,000,000 + $8,000,000) × 0.09

= 0.0857

= 8.57%

Hence, the interest rate that should be determined the capitalized interest is 8.57%

The same would be considered

7 0
2 years ago
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