Answer:
Accrued Interest - $5,333.33
Explanation:
At the end of the year, due to the matching principle, expenses of the same period need to be matched with that period and 'expensed' in the same year.
In the scenario above there has been 4 months out of 9 used in the current year, hence as at December 31st. 4 months interest will be included in the current year and 5 months interest will be attributable to the following future.
4 months / 9 months * 6% * 200,000 = $5333.33
In consonance with the <em>accrual basis of accounting</em>, the amount of accrued interest that will be recorded with adjusting entries will be:
Dr Interest expense - 5,333.33
Cr Accrued Interest - 5,333.33
Answer:
$441,000
Explanation:
Budgeted direct labor cost = Budgeted production * Hours per unit * Rate per hour
Budgeted direct labor cost = 28,000 units * 1.5 DLH * $10.50
Budgeted direct labor cost = $441,000
So, budgeted direct labor cost for June would be $441,000
Answer:
correct option is $16,000
Explanation:
given data
basis = $30,000
fair market value = $200,000
liability = $16,000
current E&P = $30,000
to find out
Puffin's E&P after taking into account the distribution
solution
we know that E and P will decrease by higher of the adjusted basis and fair market value of the distributed property
so distribution loss is not taken into consideration to find out E and P
and we have given current E & P of Puffin is = $30,000 that is reduce to
reduce = basis - liability
reduce = $30000 - $16000 = $14000
so after distribution current E & P remaining will be $16000
so correct option is $16,000
Answer:
$174.66 which is d on edge
Explanation:
i studied very hard and i made a 100
40 is the answer! hope i helped! :D
