Unit test Review

In economics what does the term market referred to

Taya2010 [7]

I think it is the exchange of goods or services, which can be with or without money.

4 0

3 years ago

Cabot Company reported a pretax operating loss of $50,000 for financial reporting and tax purposes in 2018. The enacted tax rate

Nady [450]

Answer and Explanation:

1.

Net Operating loss carryback Amount Rate of Tax Tax Recorded as

Carried back - 2014 $0.0 30% $0.0

Carried back - 2015 $0.0 30% $0.0

Carried back - 2016 $42,000 35% $14,700.0

Carried back - 2017 $8,000.0 40% $3,200.0

Total Carryback $50,000.0 $17,900.0

Journal Entries - Cabot Company

Date Particulars Debit Credit

31-Dec-18 Receivables - Income Tax Refund $17,900

To Income tax benefit - Net Operating Loss $17,900

2. Cabot's net loss for 2018 = -$50,000 + $17,900

= ($32,100)

5 0

3 years ago

A local family-run Greek restaurant has been a part of the community for twenty years. Their mission is to provide local, fresh,

Furkat [3]

The correct answer to this open question is the following.

Although there are not options provided, we can say that some additions that could be implemented which are aligned with this company’s values are the inclusion on the menu of organic food, vegan food, and kosher products so all kinds of customers can find a good option in the restaurant.

Another important thing is the way to market and communicate their innovations to consumers. In college, the son should have learned that the way a restaurant markets its products and services is as important as the kinds of food it offers.

8 0

3 years ago

A company uses the following standard costs to produce a single unit of output. Direct materials 7 pounds at $0.60 per pound = $

Naddika [18.5K]

Answer:

Direct material price variance= $20,100 unfavorable.

Explanation:

Giving the following information:

Direct materials 7 pounds at $0.60 per pound = $ 4.20

During the latest month, the company purchased and used 67,000 pounds of direct materials for $.90 per pound to produce 10,000 units of output.

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (0.60 - 0.90)*67,000= $20,100 unfavorable.

7 0

3 years ago

Alice purchases a rental house on August 22, 2017, for a cost of $174,000. Of this amount, $100,000 is considered to be allocabl

sergij07 [2.7K]

Answer:

correct option is c. $1,364

Explanation:

given data

purchases house = $174,000

cost of the home = $100,000

cost of the land = $74,000

solution

we know that here MACRS depreciation deduction is here on the $100000

because home only residential real property

and land is not depreciated assets

so here depreciation rate is 1.364 %

so that maximum depreciation deduction allowed is = $100,000 × 1.364

maximum depreciation deduction allowed = 1364

so correct option is c. $1,364

3 0

3 years ago