Answer: = $168
Explanation:
Destin Company had a $1,000 income in 2014 but also a temporary difference of $160.
This means that they were taxed on the income less the temporary difference.
= 1,000 - 160
= $840
Tax Expense = 840 * 20%
= $168
Answer:
a. Organization culture
Explanation:
Organization culture refers to the working culture in an organization in which the employees behavior, rules, regulations, procedures, policies, plans are applied
Other than this, it also involves incentive schemes, flexible time, cab service, medical insurance, and other perks
Since in the given situation, she feels energized and lover her office environment also they have team dinners on every Thursday after work
So this represents the organization culture
Answer:
$1,840,000
Explanation:
The computation of the cash collected from customers is shown below:
Cash collected from customers = Cash sales + credit sales - increase in account receivable
= $500,000 + $1,400,000 - $60,000
= $1,900,000 - $60,000
= $1,840,000
By adding the cash sales, credit sales and deduct the increase in account receivable we can get the cash collected from customers and the same is shown above
Answer and Explanation:
The computation of the future value is shown below;
a. For the year 4
Future value is
= ($575 × 1.11^3) + ($825 × 1.11^2) + ($1,125 × 1.11) + ($1325)
= $4,275.89
b. At 16%
Future value is
= ($575 × 1.16^3) + ($825 × 1.16^2) + ($1,125 x 1.16) + ($1,325)
=$4,637.64
c. At 29%
Future value is
= ($575 × 1.29^3) + ($825 × 1.29^2) + ($1125 × 1.29) + ($1,325)
= $5,383.48
The future values of the cash flows in year 4 for Paradise, Inc. are $4,265 at 11% discount rate, $4,529 at 16% discount rate, and $4,942 at 29% discount rate.
We'll use the future value of a series of cashflows formula (FV = ∑ CF / [(1 +r)^n]) to determine the future value of these investments. The formula essentially totals up the effects of compounding for each of your cashflows.
(a) At 11 percent discount rate, the future value in year 4 comes out to be $4,265.
(b) When the discount rate is 16 percent, the future value in year 4 is $4,529.
(c) At a higher 29 percent discount rate, the future value in year 4 is $4,942.
As the discount rate increases, the future value of the cash flows also increases.
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A. Inventory turnover of A7X corporation is 15.59%.
B. Day's salesin inventory is 23.41
C. The inventory that sat on the shelf before it was sold is 23.41
Inventory turnover is the ratio that shows how many times a firm turned over its inventory related to its cost of goods sold (COGS) in a particular period, typically a year.
Days sales of inventory (DSI) is the average number of days taken for a company to sell its finished products. Days sales in inventory is a tool that helps to determine the efficiency of sales.
The time of days sale of inventory and the time it sits on the shelf is the same.
Hence,
A. Inventory turnover of A7X corporation is 15.59%.
B. Day's sales in inventory is 23.41
C. The inventory that sat on the shelf before it was sold is 23.41
To know more about Inventory management:
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The inventory turnover for A7X Corporation is 15.59 times, meaning the company sells and replaces its inventory that many times a year. The days' sales in inventory is 23.42 days, which is the average time a unit of inventory sits on the shelf before it's sold.
The subject of this question pertains to the inventory turnover and the days' sales in inventory for A7X Corporation.
a. The inventory turnover is a measure of how many times a company has sold and replaced its inventory during a certain period. We can calculate it by dividing the cost of goods sold ($9,758,345) by the average inventory ($625,817). As such, the inventory turnover for A7X Corporation = 9,758,345 / 625,817 = 15.59 times.
b. The days' sales in inventory refers to the average number of days it takes to sell the inventory. It is calculated by dividing the number of days in a year (365) by the inventory turnover. So, the days' sales in inventory = 365 / 15.59 = 23.42 days.
c. The time a unit of inventory remains on the shelf before it's sold is basically the same as the days' sales in inventory. So, on average, a unit of inventory at A7X Corporation sits on the shelf for 23.42 days before it's sold.
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b. Journalize the adjusting entry on December 31 for the amortization of the patent rights.
c. Journalize the adjusting entry on December 31 for the impaired goodwill.
Answer:
April 1
Debit : Patent $1,500,000
Credit : Cash $1,500,000
December 31
Debit : Amortization $125,000
Credit : Accumulated Amortization $125,000
December 31
Debit : Impairment loss $6,000,000
Credit : Accumulated Impairment loss $6,000,000
Explanation:
Both the Amortization and Impairment loss reduce the value of assets. They are therefore expenses accounted in Income Statement.
Amortization : is the loss of value of an asset due to passage of time.
Amortization Expense = (Cost - Residual Amount) ÷ Useful Life
= ( $1,500,000 - $ 0) ÷ 12
= $125,000
Impairment loss : is the excess of the Carrying Amount of an Asset over its Recoverable Amount( Higher of Value in Use and Fair Value less Cost to Sell)
The student’s questions are regarding three transactions under business accounting: the acquisition of a patent, amortization of the patent rights, and impairing goodwill. Each requires different treatments in journalizing and adjusting entries.
The subject pertains to accounting and how to journalize transactions in business. Thus, it falls under the Business category and the complexity suggests it's at the College level.
To record the acquisition of the patent worth $1,500,000, you would first debit (increase) the Patents account and then credit (decrease) the Cash or Payables account. This aligns with the concept accounting for patents.
To journalize the adjusting entry for the amortization of the patent rights on December 31, divide the $1,500,000 over its 12 years useful life, which calculates to $125,000 each year. On December 31, debit (increase) the Amortization Expense account for $125,000 and credit (decrease) the Patents account for $(125,000).
To journalize the adjusting entry on December 31 for the impaired goodwill of $6,000,000, you would debit (increase) the Impairment Loss account for $6,000,000, and then credit (decrease) the Goodwill account for $6,000,000. This represents impaired goodwill recording.
#SPJ11
Revenue Expenses
(A) $18,600,000 $18,750,000
(B) $4,650,000 $ 4,687,500
(C) $4,650,000 $ 5,250,000
(D) $4,687,500 $ 4,687,500
Answer:
(C) $4,650,000 $ 5,250,000
Explanation:
total contract price is $ 18,600,000
season construction using percentage of completion method.
Amount of revenue & construction expense for the year ended december 31, 2020 will be
25% of $ 18,600,000 revenue = $ 4,650,000
25% of $ 18,750,000 total cost = $5,250,000