Answer:
e. $102,500 . $32,500
Explanation:
shared income = Net income for the year - salary allowance
= $135,000 - $70,000
= $65000
Farmer gets = $65000/2 + $70000
= $32500 + $70000
= $102500
Taylor gets = $65000/2
= $32500
B) Income taxes is the answer
Answer:
b) inventory is sold on credit.
Explanation:
Liquidity is defined as the a business to use its current assets to settle it's current liabilities.
This is calculated by using the working capital ratio.
Working capital ratio = Current assets ÷ Current liabilities.
Cash and inventory contribute to a business' liquidity.
When inventory is sold on credit, it does not result in immediate increase in cash as payment is in the future. So there is a reduction in the current asset of the company.
A reduction in the numerator of the working capital ratio results in lower value of the ratio (lower liquidity)
<span>They can take the case to the Court of Appeals for review, who may potentially appeal the decision. If the court decides that the law has not been followed properly, then they may appeal the case. However, they do not deal with matters of evidence and the validity of facts. They just make sure that legal procedures have been properly followed.</span>
Answer:
The entry to record accrued benefits would be a Debit to Employee Benefits Expense of $21,560
Explanation:
In order to calculate The entry to record the accrued benefits for the month we would have to calculate the following formula:
Accrued Benefits= Health Insurance Cost+ (Gross Salary × Percentage Contributable)
Accrued Benefits=$15,400+($154,000×4%)
Accrued Benefits=$15,400+$6,160
Accrued Benefits=$21,560
The entry to record accrued benefits would be a Debit to Employee Benefits Expense of $21,560
