Answer:
a. $15,500
Explanation:
Based on LIFO, cost of 1500 unit sold will be entirely from the Purchases (year X1). Therefore, we have:
Value of units purchases (year X1) outstanding after sales = (2,000 - 1,500) * $11 = 500 * $11 = $5,500
Therefore, we have
LIFO Inventory on 12/31/X1 = Value of beginning Inventory (1/1/X1) + $5,500 = $10,000 + $5,500 = $15,500.
Answer: Please see answer in explanation column
Explanation:
a)Account titles and explanation Debit Credit
Warranty Expense $30,000
Warranty Payable $30,000
Calculation :
2 % x $1,500,000 =$30,000
b) Account titles and explanation Debit Credit
Warranty Provision $445
Materials $325
Salaries Payable $120
Answer:
The correct answer would be option C, A Grant is money given by an organization for a specific purpose.
Explanation:
A grant is basically the amount of money which a Government or any other institution gives to someone or some organization or institution to serve a specific purpose. Grants are usually given for Educational purposes, Business Growth purpose, or to serve the under privileged people. Grants are not loans. Loans are required to be paid back but grants are not required to be given back to the lender. Grants are given to encourage growth and help people in raising from the bottoms.
Answer:
<u>$0 (None)</u>
Explanation:
Mike incurring additional moving expenses to his new home is not legally permissible for deduction when starting it in his annual gross income report for tax purposes.
However, miscellaneous expenses such as Unreimbursed business expenses, qualified educational expenses, tax preparation fees, subscriptions to professional journals<em>, and job-hunting expenses </em><em>may be deducted.</em>
Social factors exert the broadest and deepest influence over a person’s consumer behavior false (culture)
Culture :
A person’s culture is represented by a large group of people with a similar heritage. Culture exerts a strong influence on a person’s needs and wants because it is through culture that we learn how to live, what to value, and how to conduct ourselves in society. The American culture, which is a subset of the Western (European) culture, will be the primary focus of this discussion, although other societies in other parts of the world have their own cultures with accompanying traditions and values.
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