Answer:
Pretax financial income is $3,350,000.00
Explanation:
Fleming's pretax financial income is the taxable income for 2018 plus the increase in cumulative taxable temporary difference in 2018.
Taxable income is $4,000,000
Difference in cumulative taxable difference=$1,600,000-$2,250,000
=-$650,000
pretax financial income=$4,000,000+(-$650,000)
=$4,000,000-$650,000
=$ 3,350,000.00
The pretax financial income for year 2018 is $3,350,000.00
Answer:
Trial Income Statement:
Service revenue $17,000
Rent expense ($3,500)
Insurance expense ($350)
<u>Wages expense ($10,500)</u>
Net income $2,650
*We need to adjust other expenses like supplies or utilities. I assumed the salaries paid were for a 10 days period since no one pays salaries in advance.
Trial Balance Sheet
Assets:
Cash $62,200
Supplies $1,000
Prepaid insurance $3,850
<u>Equipment $10,000 </u>
Total Assets $77,050
Liabilities and Equity:
Accounts payable $8,000
Wages payable $7,000
Common Stock $60,000
<u>Retained earnings $2,050 </u>
Total Liabilities and Equity $77,050
Explanation:
July 1
Dr Cash 60,000
Cr Common stock 60,000 (6,000 stocks $10 par value)
July 3
<u>Rent expense 3,500</u>
Cr Cash 3,500
July 5
Dr Prepaid insurance 4,200
Cr Cash 4,200
Adjusting entry July 31
Dr Insurance expense 350
Cr Prepaid insurance 350
July 7
Dr Supplies 1,000
Cr Accounts payable 1,000
July 10
Dr Wages expense 3,500
Cr Cash 3,500
Adjusting entry July 31
Dr Wages expense 7,000 ($3,500 x 2 10 day periods)
Cr Wages payable 7,000
July 14
Dr Equipment 10,000
Cr Cash 2,500
Cr Accounts payable 7,500
July 15
Dr Cash 8,000
Cr Service revenue 8,000
July 19
Dr Accounts payable 500
Cr Cash 500
July 31
Dr Cash 9,000
Cr Service revenue 9,000
Dr Retained earnings 600
Cr Dividends payable 600
Dr Dividends payable 600
Cr Cash 600
Answer:
price per share in March is $96
Explanation:
given data
January price per share = $193.04
January prime rate = 2.75%
march prime rate = 5.50%
to find out
What was the price per share in March
solution
we know that here price is proportional to prime rate
Price ∝ 
........1
so price = k × ...............2
k is constant here
so put all value for january
193.04 = k × 
k = 5.28
so for march price per share will be by equation 2
price = 5.28 × 
price = 96
so price per share in March is $96
Debt ceiling crisis!
we call it debt ceiling crisis
U didn’t put like half the question luv
