Answer:
The total amount budgeted for product costs for July is $10,875.
Explanation:
Consider the following formula to calculate the total amount budgeted.
Budgeted gross profit = Budgeted sales-budgeted cost of goods sold
= 725*$30 - $10,875 = $10,875.
Answer:
The correct answer is True.
Explanation:
Externalities are caused when the production or consumption of a good or service has a cascading effect that is not purely reflected in its price and therefore there is no appropriate compensation to be paid for it. If the price does not include the true costs of the good or service there will be a market failure. Importantly, externalities can be positive or negative. To prevent refusals, governments must add certain taxes to assets to cover their social cost.
Answer:
Sharrod's deductible loss = stock basis + long term capital gains - cash distribution = $140,000 + $21,000 - $84,000 = $77,000
Sharrod's suspended loss = share of ordinary loss - deductible loss = $84,700 - $77,000 = $7,700
Sharrod's new basis in Kaiwan stock = $0
Explanation:
Sharrod's loss cannot be greater than his basis, that is why only $77,000 can be deducted and $7,700 can be carried forward.
Answer:
d. $42,000
Explanation:
Calculation for what was the estate's distributable net income (DNI)
ESTATE'S DISTRIBUTED NET INCOME
GROSS INCOME:
Taxable interest $65,000
ESTATE DISBURSEMENTS:
Less Administrative expenses ($14,000)
Less Charitable contributions from gross income ($9,000)
DISTRIBUTED NET INCOME (DNI) $42,000
($65,000-$14,000-$9,000)
Therefore the estate's distributable net income (DNI) will be $42,000
