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.
Answer:
He should use a limit order.
Explanation:
Limit order is given to a broker to buy a stock at a specified price or a price that is better that the specified price. Here Debin order will be executed at a price $40 or below when he places a limit order .
Therefore, He should use a limit order.
Answer:
$37,600 favorable
Explanation:
Variable overhead spending variance can be computed as;
= (Actual hours worked × Actual variable overhead rate) - ( Actual hours worked - Standard variable overhead rate)
= ( 18,800 hours × $77,700/12,000) - (18,800 hours × $4.5)
= [(18,800 × $6.5) - (18,800 × $4.5)]
= $122,200 - $84,600
= $37,600 favorable
Answer:
Payment of insurance premium include in last quarter = $204,000
Explanation:
Given:
Insurance premium during the year = $816,000
Number of quarter in the year = 4
Computation of payment include in last quarter:
Payment of insurance premium include in last quarter = Insurance premium during the year / Number of quarter in the year
Payment of insurance premium include in last quarter = $816,000 / 4
Payment of insurance premium include in last quarter = $204,000
Answer
a. Deposits
Explanation
A checking account is a bank account where members can withdraw and deposit money with ease of access. It is mostly used for bill payments and for making personal financial transactions .A checking account allows for check deposits and debit card transactions
