Answer:
$25,000 will be an ordinary income(FMV)
Explanation:
Kate received an offer of unrestricted partnership capital interest for the expertise services. so, Kate recognizes it's an "ordinary income"which should be booked at the fair market value of the partnership interest so offered.
i.e $25,000 is ordinary income (FMV)
Answer:
The correct answer is C.
Explanation:
Giving the following information:
Barrington Bears has developed the following sales forecasts for January 500 units.
BB has 80 bears on hand on Dec. 31. The normal ending inventory policy is to hold 20% of next month’s sales.
Direct labor is paid $18 per hour. Each bear takes 40 minutes to hand-finish. Variable overheads total $21 per direct labor hour. Fixed overheads amount to $25,000 per month.
First, we need to calculate the production for January.
Sales= 500 units
Ending inventory= (600*0.2)= 120 units
Beginning inventory= 80 (-)
Total= 540 units
Conversion costs= direct labor + manufacturing overhead
Direct labor= [(40/60)*540]*$18= $6,480
Variable overhead= 21*360 hours= $7,560
Fixed overhead= $25,000
Total conversion costs= $39,040
Answer:
$1,700,000
Explanation:
The computation of the NET accounts receivable (the cash realizable value) at December 31, 2019 is shown below:
= Account receivable - allowance for doubtful debts
= $2,000,000 - $300,000
= $1,700,000
By deducting the allowance for doubtful debts from the account receivable we can get the net account receivable or the cash realizable value
Therefore we ignored the bad debt expense
Answer:
1. 4,350 helmets
Explanation:
1. The computation of the number of helmets is shown below:
= (Total fixed cost + operating income) ÷ (Contribution margin per unit)
where,
Contribution margin per unit = Selling price per unit - Variable cost per unit
= $76 - $44
= $32
So, it would be
= ($49,600 + $89,600) ÷ ($32)
= ($139,200) ÷ ($32)
= 4,350 helmets
2. The contribution margin income statement is presented below:
Sales (4,350 × $76) $330,600
Less: Variable cost (4,350 × $44) ($191,400)
Contribution margin $139,200
Less: Total Fixed cost ($49,600)
Operating income $89,600
<span>The answers are "Equator" and "Prime Meridian"
The grid system gives every point on the earth an address that can be represented as the intersection of two lines, latitude and longitude. The equator is the starting point for measuring latitude (0 degrees latitude), the numbers measure how far north or south of the equator a place is.
Longitude shows how far a location is east of the Prime Meridian (0 degrees longitude) , which runs vertically, north and south, right over the British Royal Observatory in Greenwich England, from the North to the South Pole.</span>
