Answer: Option (D). Cost of Good Sold
Explanation: Cost of goods sold is the carrying value of goods sold during a particular period of time. Furthermore, Cost of goods sold refers to the cost of acquiring or manufacturing the products that a company sells during a particular period of time and Costs of goods can include material, labor, and allocated overhead.
Cost of Goods Sold accounts would be closed at the end of the year using the perpetual inventory system.
Answer:
correct option is (A) A deferred tax liability of $16 among noncurrent liabilities.
Explanation:
solution
pretax account income = $200
overweight fines= $5
understate depreciation = 110 - 70 = $40
so total taxable income is = $200 - $5 - $40
total taxable income is = $165
and
income tax is = 40% of $165
income tax = $66
and
income tax expense as per book is = 40 % of ( 200 + 5 )
income tax expense as per book is = $82
so deferred tax liability among non current liability is = $82 - $66 = $16
so correct option is (A) A deferred tax liability of $16 among noncurrent liabilities.
Answer:
$0
Explanation:
Ginger has to choose between claiming a tax credit of a deduction for income taxes paid to foreign countries. She has already claimed a $5,000 foreign income exclusion (for taxes paid in Spain), and she has already made the deduction for the $1,000 paid in taxes to France. She can also claim a deduction for the $10,000 paid in taxes to England.
Since she already claimed tax deductions, she can no longer claim a tax credit, it is either one or the other.
Answer:
The correct answer is $129,360.
Explanation:
According to the scenario, the given data are as follows:
List price of equipment = $120,000
Cash discount = $2,400
sales tax = $6,000
Installation charges = $1,760
concrete slab = $4,000
So, we can calculate the total cost by using following formula:
Total cost = $120,000 - $2,400 + $6,000 +$1,760 + $4,000
= $129,360
Answer:
a. Secured bonds - A secured bond is a bond that is issued with a collateral backing the loan.
b. Callable bonds - A bond that the issuer can call off, or pay off, at any time, not necessarily at maturity.
c. Convertible bonds - A bond that can be converted into equity (stocks). If the bondholder wishes, he can exchange his bond for ownership of stocks in the bond issuer firm.
d. Term bonds - A bond that has one single, specific maturity date.
e. Serial bonds - A bond that has several maturity dates.
