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FromTheMoon [43]
3 years ago
5

FREEE POINTSSS!! DELETING THIS ACC :))

Business
2 answers:
Temka [501]3 years ago
7 0

Answer:

YAYAYA

Explanation:

Margarita [4]3 years ago
6 0

Answer:

Thx for the pointsssss

Explanation:

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Each of the following statements may (or may not) describe one of these technical terms. In the space provided below each statem
densk [106]

Answer: Please find below the answer. You omitted the terms to be used.

Explanation: Using the accounting terms,  Revenue expenditure. straight line policy, Goodwill,capital expenditure, half year convention, accelerated depreciation, research and development, MACRS,

filling in the terms appropriately, or None, if statement does not describe any term, we have

a)An Expenditure that will benefit only the current accounting period - Revenue expenditure

b) The accelerated depreciation system used in federal income tax returns for depreciable assets purchased after 1986 - MACRS

c) A policy that fractional period depreciation on assets acquired or sold during the period should be computed to the nearest month - Straight Line  policy

d) An intangible asset representing the present value of future earnings in excess of normal return on net identifiable asset - Goodwill

e) Expenditures that could lead to introduction of new products, but which according to FASB, should be viewed as an expense when incurred - Research and Development

f-)Depreciation method that takes less depreciation in early years of an asset's useful life, and more depreciation in later years - NONE

g) An account showing that portion of the cost of a plant asset that has been written off to date as depreciation expense - Accumulated Depreciation.

7 0
3 years ago
Clauses in labor agreements that provide for quarterly cost-of-living adjustments in wages based on changes in the consumer pric
IrinaVladis [17]

Answer:

c. escalator clauses

Explanation:

Based on the information provided within the question it can be said that the term being described is called an escalator clause. Like mentioned in the question this term refers to a clause within a contract that allows for an increase in in the price or wage stated in the contract but only under the specific conditions stated.

8 0
3 years ago
There is a production possibilities frontier (PPF) that shows the combinations of goods X and Y that can be produced in the econ
erastova [34]

Answer:

B. shifts rightward, and the point at which the PPF touches the good-X axis has to be something more than 40 units of good X and the point at which the PPF touches the good-Y axis has to be something more than 60 units

Explanation:

PPF is the graphical representation of two goods combinations which an economy can produce given resources & technology.

It is downward sloping because of two goods inverse relation given same resources & technology.

The points at which PPF touches both axis represents maximum amount of that axis good which can be produced by given resources & technology , Points on PPF reflect full efficient utilisation of resources. Points inside PPF reflect underutilisation of resources. Points outside PPF reflect unattainable combinations outside economy's productive capacity, given resources & technology unless either of them grow.

Resource increase usable for production of both goods: shifts the PPF outwards/ rightwards & the maximum potential production of both goods increases. PPF touching axis points increases from pervious at each axis - more than 40 at good X axis, more than 60 at Y axis.

7 0
3 years ago
Force Corporation is owned equally by Luke and his sister Leia, each of whom own 200 shares in the company. Force redeemed 100 s
murzikaleks [220]

Complete question:

Force Corporation is owned equally by Luke and his sister Leia, each of whom own 200 shares in the company. Force redeemed 100 shares of Luke’s stock in the company on December 31 of this year paying Luke $1,000 per share. Luke’s income tax basis in each share is $500. Force has total E&P of $800,000. What are the tax consequences to Luke as a result of the stock redemption?

a)$50,000 capital gain and a tax basis in each of his remaining shares of $500.

b)$50,000 capital gain and a tax basis in each of his remaining shares of $1,000.

c)$100,000 dividend and a tax basis in each of his remaining shares of $500.

d)$100,000 dividend and a tax basis in each of his remaining shares of $1,000.

Answer:

$50,000 capital gain and a tax basis in each of his remaining shares of $500.

Solution:

The sale should be viewed as an swap as Luke decreases the shareholding from 50 per cent (200/400) to 33 per cent (100/300).

Luke is not regarded as the shareholder of any property held by his dad.

Luke records a capital benefit of $50,000, measured as $100,000 – $50,000.

∴ $50,000 capital gain and a tax basis in each of his remaining shares of $500.

7 0
3 years ago
.Capital, a business magazine, collected $480,000 in subscription revenue on May 31. Capital earns a minimum of $351,000 from th
Pie

Answer:

the balance in the unearned revenue as on Dec 31 is $200,000

Explanation:

The computation of the balance in the unearned revenue as on Dec 31 is as follows

= Yearly subscription revenue collected ÷ total number of months in a year × given number of months

= $480,000 ÷ 12 months × 5 months

= $200,000

The five month is calculated from Dec 31 to May 31

Hence, the balance in the unearned revenue as on Dec 31 is $200,000

7 0
3 years ago
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