Answer: 44,000 square feet.
Explanation:
If we are assuming use of the direct method, we can find out how the building maintenance cost will be allocated using the following formula,
Building Maintenance cost square feet allocation = Square Footage of Machining + Square Footage of Assembly
Slotting in the figures we have,
= 18,000 + 26,000
= 44,000 square feet.
The Building Maintenance cost will be allocated over 44,000 square feet.
Answer:
$80,000
Explanation:
Calculation to determine what Elk's taxable income is:
Using this formula
Taxable income=Operating income-Operating expenses
Let plug in the formula
Taxable income=$370,000-$290,000
Taxable income=$80,000
Therefore Elk's taxable income is:$80,000
Answer:
"twisting"
Explanation:
Based on the scenario being described within the question it can be said that the act that is being described in this statement is known as "twisting". Like mentioned in the question this is the act of when an insurance agent replaces an already existing policy with a different one using misleading representation or tactics. This act is illegal in almost all of the states within the United States of America.
Answer:
Increase Rent Expense, $4,000; decrease Prepaid Rent, $4,000.
Explanation:
Since Fisher Shoe Store paid $24,000 to Acme Realty for 6 months rent beginning July 1, we will calculate monthly rent amount by:
24,000/6 = $4,000
Financial statements are prepared on July 31, so we will adjust the July rent in the adjusting entry.
We will debit the rent expense by $4,000 and credit the prepaid rent which is an asset to decrease it by an amount of $4,000.
It's called a inflamtion, when basict when the economy gets really strong ,we have a hard time keeping up with demand and need to make the economy more weaker to balance things out
