Provide Labor And Buy Goods
Answer: C
Explanation:
This is because although the coupon rate is devoid of federal income tax any market discount is taxed as interest income earned. So so if there is a way that they can be taxed without jeopardizing their basic Federal income tax-free status, why not? The discount can be accreted annually and tax paid, or the tax can be paid at maturity or sale date.
Answer:
- what amount should Dart report as total revenues?
B. $250,000
Explanation:
The option B is the answer because the others option are not part of revenues during the year to the single step income.
The recovery of accounts written off are not part of revenues, it's an adjustment to the allowance for uncollectible accounts.
Then, the Purchase discounts is not part of revenues either, this kind of discounts goes directly to the valuation of inventory and then to the cost of goods.
Answer:
The answer is: $215,000
Explanation:
Railway Company should include the goods worth $35,000 that Rogers Consignment store has. Once this amount is included, the total inventory for Railway Company should be $215,000 ($180,000 + $35,000).
Merchandise purchased and shipped as FOB destination, belongs to the seller until it has been properly delivered to the buyer. It will increase the inventory once it arrives on January 3.
