Answer:
The value of the ending inventory is $ 640
Explanation:
First we have to make a table showing the inventory movements.
Beginning inventory 100 units $ 300
Purchases 900 units $ 2,880
Ending inventory 200 units
Adam Company uses the FIFO method which means that the units sold shall be valued at the opening inventory plus purchases. The ending inventory shall be priced at the purchase value.
The unit value for purchases is $ 2,880/900 = $ 3.20 per unit.
So the value of the ending inventory shall be
200 units * $ 3.2 per unit = $ 640
Answer:
The answer is: Stone can report $8,750 as deferred income tax liability
Explanation:
Deferred income tax liability: income tax owed by a business that is put off into future years because a difference exists between GAAP accounting (in this case book depreciation) and income tax accounting.
The deferred tax liability is based on the difference on depreciation. Since 20x9 is Stone Co.'s first year of operations, the depreciation difference in this year must equal the net future depreciation difference.
To calculate the deferred tax liability balance we take the difference in depreciation and multiply it by the future tax rate: $25,000 x 35% = $8,750.
Answer:
$3,800
Explanation:
The computation of the after-tax benefit is shown below:
= Annual dinner club membership cost - annual dinner club membership cost × her marginal tax rate
= $5,000 - $5,000 × 24%
= $5,000 - $1,200
= $3,800
We simply deduct her tax expense from the annual dinner club membership cost so that the accurate amount can come.
All other information which is given is not relevant. Hence, ignored it
Answer:Documenting rules, procedures, and guidelines to be tested against a system.
Explanation:
Assessment means to analyzing someone or something in respect of its quality, quantity and other such characteristics. Generally, assessment is done by comparing the actual results with some predetermined criteria .
Assessment is done by firms to know whether there is a problem, where it is and how it can be solved so that future losses could be saved.
Hence from the above we can conclude that the correct option is C .
from Intelligent’s point of view, this bond would be considered a current asset, because it represents a resource that can easily be converted to cash within one year.
A bond is a debt instrument. A bondholder is entitled to regular predetermined interest rate payments and at the end of the bond's tenure, the bondholder would receive the amount invested.
Current assets are assets that are expected to be sold, used, or exhausted through standard business operations with one year.
Examples of current asset are:
- cash
- cash equivalents
- accounts receivable
- stock inventory
- marketable securities
- pre-paid liabilities
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