Answer:
$444,000
Explanation:
current earnings and profits = (taxable income - income taxes) - meals expense + tax exempt income = ($600,000 - $155,000) - $3,000 + $2,000 = $444,000
Disallowed expenses are expenses made by an individual or company that the IRS doesn't allow to be deducted, e.g. meals. Tax exempt income is income that is not taxed by the IRS, e.g. DRD includes at least 70% of dividends received.
Deferred gains or unearned revenues are considered a liability and are not included in the income statement.
C is correct answer ......
Answer: $134,000
Explanation:
The value that the land should be recorded in Easy Repair Service records will be $134,000 because it was the counter offer and the price paid by Easy Repair in the acquisition of the land, therefore this should be the value of the land.
The value for the acquisition of land include all expenses that were also involved when buying the land like the legal fees on the land etc but in this scenario, only the $134,000 was provided, hence, that's the answer.
Answer:
$353,540
Explanation:
Given that
Beginning work in process inventory cost = $2,540
Additional cost of product cost to work in process = $351,000
So the amount of cost that should be transferred out is
= Beginning work in process inventory cost + Additional cost of product cost to work in process
= $2,540 + $351,000
= $353,540
Answer: Electronic Meeting Systems.
Explanation: Electronic Meeting system as the name implies is a form of done on the Web where the participant are in different locations but communicate among themselves using a common online platform.
Electronic meeting systems breaks the distance barrier thereby enabling people miles apart to rub minds and brainstorm on issues they share in common.
