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2 years ago

6

what are the two factors that go into which item is thought of as bought first, etc., when choosing between several possible pur

chases.

1 answer:

ANTONII [103]2 years ago

8 0

Answer:

Fifo

Explanation:

Because the stock that is bought first should be the one to be purchased first

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On January 1, 2018, Ameen Company purchased major pieces of manufacturing equipment for a total of $54 million. Ameen uses strai

Igoryamba

Answer:

Answer for the question:

On January 1, 2018, Ameen Company purchased major pieces of manufacturing equipment for a total of $54 million. Ameen uses straight-line depreciation for financial statement reporting and deducted 100% of the equipment’s cost for income tax reporting in 2018. At December 31, 2020, the book value of the equipment was $48 million. At December 31, 2021, the book value of the equipment was $40 million. There were no other temporary differences and no permanent differences. Pretax accounting income for 2021 was $68 million. Required: 1. Prepare the appropriate journal entry to record Ameen’s 2021 income taxes. Assume an income tax rate of 25%. 2. What is Ameen’s 2021 net income?

Is given in the attachment.

Explanation:

4 0

3 years ago

A company reported that its bonds with a par value of $50,000 and a carrying value of $62,000 are retired for $66,000 cash, resu

mylen [45]

Answer: Retired for $66000 cash.

Explanation:

Given that,

bonds par value = $50000

carrying a value = $62000

retired for cash = $66,000

Loss = $4000

Issuing bonds are an approach to fund activities. Hence, a sum that is reported in the cash flows from the statement of financial activities.

There is a cash outflow of $66000 from retiring.

The amount to be reported under cash flows from financing activities is retired for $66000 cash.

5 0

3 years ago

A leveraged buyout (LBO) Multiple Choice is based on an expectation that the new private owners will not restructure the company

pochemuha

Answer:

Changes the ownership structure of a company from public to private.

Explanation:

A leveraged buyout (LBO) is the acquisition of another company using a significant amount of borrowed money to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loans, along with the assets of the acquiring company.

It is known to change the ownership structure of a company from public to private.

This is because it isn't usually sanctioned by the target company. It is also seen as ironic in that a company's success, in terms of assets on the balance sheet, can be used against it as collateral by a hostile company.

3 0

3 years ago

Forecast the 2019 Cost of goods sold on the previous year’s number and the assumptions. 2018 Actual 2019 Estimate Sales Growth 6

sveta [45]

The Cost of Goods Sold for 2019 is forecasted to be $30,600.

<h3>What is Cost of Goods sold?</h3>

This refers to total amount that a firm paid as a cost directly related to the sale of products.

The Sales Growth between the years 2018 and 2019 is 2% (8%-6%).

Because the 2018 Cost of Goods Sold equals $30,000, then, it will be adjusted according to the sales growth recorded in the subservience year.

Cost of Goods Sold (2019) = $30,000 *(1+0.02)

Cost of Goods Sold (2019) = $30,000 *1.02

Cost of Goods Sold (2019) = $30,600

Read more about Cost of Goods Sold

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7 0

2 years ago

Read 2 more answers

Trial courts determine if a will is valid or not. O True O False

andreyandreev [35.5K]

Answer:

A valid will has to be in writing, and signed by the testator in the presence of two witnesses, who must also attest the will. If the process is not followed to the hilt, the will can be challenged in the court of law. So the answer is true.

8 0

3 years ago