Answer:
$50,530
Explanation:
The computation of the amount of expenses reported on the income statement is shown below:
= Cash paid - Opening balance of accrued expenses + Closing balance accrued expenses + Opening balance of prepaid expenses - Closing balance of prepaid expenses
= $49,850 - $1,200 + $2,100 + $630 - $850
= $50,530
We added the ending balance of accrued expenses and opening balance of prepaid expenses while deducting the ending balance of accrued expenses and closing balance of prepaid expenses
Answer:
$227,900
Explanation:
Given that,
Company deducts insurance expense tax purposes in 2018 = $213,000
Tax rate = 30%
Income taxes payable at the end of 2018 = $164,000
There were no deferred taxes at the beginning of 2018.
Income tax expense for 2018:
= (Amount of deduction in insurance expense × Tax rate) + Income taxes payable at the end of 2018
= ($213,000 × 30%) + $164,000
= $63,900 + $164,000
= $227,900
The value added is 0, because if we added the value they spend on sugar and the other supplies and etc. it will be $1,000
Answer:
True
Explanation:
Industrial Revolution can be regarded as transition from old to the new manufacturing processes which begins from some part of the world such as
Europe and United States, within some period from of 1760 and it's improving up till date. Some of the causes of Industrial Revolution are development of trade as well as the rise in business activities. It should be noted Industrial Revolution brings about the use of production processes dependent on new machines and interchangeable parts.
