Business, 30.03.2020 21:10, Knownothing
Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual method of accounting but he doesn’t keep any significant inventories of the specialized assets that he sells. Joe reported the following financial information for his business activities during year 0. Determine the effect of each of the following transactions on the taxable business income. Required: Joe has signed a contract to sell gadgets to the city. The contract provides that sales of gadgets are dependent upon a test sample of gadgets operating successfully. In December, Joe delivers $13,950 worth of gadgets to the city that will be tested in March. Joe purchased the gadgets especially for this contract and paid $9,750. Joe paid $305 for entertaining a visiting out-of-town client. The client didn’t discuss business with Joe during this visit, but Joe wants to maintain good relations to encourage additional business next year. On November 1, Joe paid $650 for premiums providing for $65,000 of "key man" insurance on the life of Joe’s accountant over the next 12 months.
Answers: 2
Business, 22.06.2019 00:00, adayisenga
Which part/word/phrase in the passage refers to a business’s financing activity seen in a cash flow statement? nathan works as an accountant in a footwear manufacturing company. he is currently preparing the cash flow statement for his employer. during the given accounting period, the company purchased raw materials worth $25,000. it also bought new equipment worth $75,000 to increase its production output. further, it borrowed a long-term bank loan of $100,000 to facilitate further expansion. finally, the company spent $50,000 on advertising its latest brand of footwear in the market. {lol i guessed its "it borrowed a long-term bank loan of $100,000 to facilitate further expansion" and thats correct}
Answers: 1
Business, 22.06.2019 09:30, supremetylor29
An object that is clicked on and takes the presentation to a new targeted file is done through a
Answers: 2
Business, 22.06.2019 10:00, Randomkid0973
University car wash built a deluxe car wash across the street from campus. the new machines cost $219,000 including installation. the company estimates that the equipment will have a residual value of $19,500. university car wash also estimates it will use the machine for six years or about 12,500 total hours. actual use per year was as follows: year hours used 1 3,100 2 1,100 3 1,200 4 2,800 5 2,600 6 1,200 prepare a depreciation schedule for six years using the following methods: 1. straight-line. 2. double-declining-balance. 3. activity-based.
Answers: 1
Joe operates a business that locates and purchases specialized assets for clients, among other activ...
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