Answer:
Gross Income:
= Earned wages + Interest from savings + Interest on home mortgage
= 93,260 + 1,340 + 4,500
= $99,100
Adjusted gross income:
= Gross income - Tax deferred plan - State taxes
= 99,100 - 6,300 - 1,359
= $91,441
Taxable income
= Adjusted gross income - Personal exemption - Standard deduction - Charity contribution
= 91,441 - 3,500 - 7,800 - 2,500
= $77,641
Answer:
2a) 330,500
2b) 132,200
2c) 198,300
Explanation:
Loss from operating a discontinued segment (pretax) 18,750
Correction of overstatement of prior year’s sales (pretax) 16,500
Gain on sale of discontinued segment’s assets (pretax) 36,500
The service Revenue will be:
1. Cash for service performed in 2021 -------------------------- $13,500
2. Bill sent to clients for service performed in 2021--------- $4,100
TOTAL------------------------------------------------------------------------$17,600
The $5,100 received was for the service done in 2020 and this will be decrease the account receivables on the balance sheet while the $2,100 received for work to be done in 2022 will be recorded as an unearned revenue because the service has not been rendered.
Answer:
unrealised profit on unsold stock with james corporation = $30000
so correct option is b. $30,000
Explanation:
owns = 80 %
sold = $250,000
inventory = 40 %
Gross profit = 20 %
Gross profit = 30 %
amount of intra entity gross profit
solution
unsold stock with james corporation are = 40 % of $250000
unsold stock with james corporation = $100,000
and
unrealised profit on unsold stock with james corporation is in consolidated statement is = unsold stock with james corporation × profit rate i.e 30%
unrealised profit on unsold stock with james corporation = $100000 × 30%
unrealised profit on unsold stock with james corporation = $30000
so correct option is b. $30,000
For this question, you need to find out some basic information. We know that 12 months is a total of a year. First, add up the rent, plus the utilities.
320 + 80 = 400
Then, you will multiply the 400 by 12.
400 x 12 = 4,800
The likely yearly cost for this apartment would be 4,800.
:)
