Answer:
They will pay more taxes if they value inventory using LIFO.
The difference in taxes between the two methods is $8400($ 32,550.00 minus $ 24,150.00)
Explanation:
The oil distributor will pay more taxes using LIFO method in valuing the cost of goods sold because LIFO would pick the prices of goods recently purchased which were lower overall compared to prices of goods earlier purchased.
Hence,inventory sold is charged with lower prices and eventually lower costs of good sold s well higher gross profit which translates into higher taxes.
It would be preferable to value inventory sold using FIFO so as to reduce taxes payable by $8400.
Find attached detailed computation.
Answer:
Kimi have done to ensure that she was acting legally and ethically by following the measure that are discussed below in detail.
Explanation:
Legal measures are those measures that are outlined in regulatory laws. Ethical measures are based on the human postulates of morality and wrongdoing. The distinctions between them are these: Legal measures are based on transcribed law, while ethical measures are based on human rights and violations.
Answer:
A guild are an association of skilled merchants, craftsmen and artisans that provide support and protection for their members and push their professional interest forward and further their craft
Because the guild guild members mainly gained their skill through knowledge passed to them by their family bloodlines, other unskilled workers were by not being schooled on the craft and by family tradition not allowed to join a guild based on the nature knowledge transfer the guild members have which is mainly several generations of family trade trainings
Explanation:
To solve this problem we will apply the concepts related to translational torque, angular torque and the kinematic equations of angular movement with which we will find the angular displacement of the system.
Translational torque can be defined as,
Here,
F = Force
d = Distance which the force is applied
At the same time the angular torque is defined as the product between the moment of inertia and the angular acceleration, so using the previous value of the found torque, and with the moment of inertia given by the statement, we would have that the angular acceleration is
Now the angular displacement is
Here
= Initial angular velocity
t = time
Angular acceleration
= Angular displacement
Time is given as 1 minute, in seconds will be
There is not initial angular velocity, then
Replacing,
The question neglects the effect of gravitational force.