Answer:
The 2018 loss was carried forward and decreased the corporation's tax liability during 2019. The 2020 loss should also be carried forward to offset any future gains and reduce future tax liabilities. A company can carry forward a loss indefinitely, since it is allowed to deduct a maximum of 80% of a future year's net income.
If this was an S corporation, it would be pass through entity that is not taxed directly, instead, the owners are taxed. Therefore, this $21,000 loss will be distributed proportionally among all the stockholders, and they must deduct their taxes independently.
Purchased merchandise on account from moonlight co., list price $85,000, trade discount 25%, terms fob destination, 2/10, n/30. 4 sold merchandise for cash, $37,680. the cost of the goods sold was $22,600. 5 purchased merchandise on account from papoose creek co., $47,500, terms fob shipping point, 2/10, n/30, with prepaid freight of $810 added to the invoice. 6 returned $13,500 ($18,000 list price less trade discount of 25%) of merchandise purchased on november 3 from moonlight co. 8 sold merchandise on account to quinn co., $15,600 with terms n/15. the cost of the goods sold was $9,400.
Hi, your question is incomplete however, i have searched for the full question and it reads as follows :
The following were selected from among the transactions completed by Babcock Company during November of the current year:
Nov. 3 Purchased merchandise on account from Moonlight Co., list price $85,000, trade discount 25%, terms FOB destination, 2/10, n/30.
4 Sold merchandise for cash, $37,680. The cost of the merchandise sold was $22,600.
5 Purchased merchandise on account from Papoose Creek Co., $47,500, terms FOB shipping point, 2/10, n/30, with prepaid freight of $810 added to the invoice.
6 Returned $13,500 ($18,000 list price less trade discount of 25%) of merchandise purchased on November 3 from Moonlight Co.
8 Sold merchandise on account to Quinn Co., $15,600 with terms n/15. The cost of the merchandise sold was $9,400.
13 Paid Moonlight Co. on account for purchase of November 3, less return of November 6.
14 Sold merchandise on VISA, $236,000. The cost of the merchandise sold was $140,000.
15 Paid Papoose Creek Co. on account for purchase of November 5.
23 Received cash on account from sale of November 8 to Quinn Co..
24 Sold merchandise on account to Rabel Co. 6,900, terms 1/10, n/30. The cost of the merchandise sold was $34,000.
28 Paid VISA service fee of $3,540.
30 Paid Quinn Co. a cash refund of $6,000 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,300.
Journalize the entries to record the transactions of Babcock Company for November using the periodic inventory system.
Answer:
Nov 3
Merchandise $21,250 (debit)
Trade Payable : Moonlight Co. $21,250 (credit)
Nov 4
Cash $37,680 (debit)
Cost of Goods Sold $22,600 (debit)
Sales Revenue $37,680 (credit)
Merchandise $22,600 (credit)
Nov 5
Merchandise $47,500 (debit)
Trade Payable : Papoose Creek Co $47,500 (credit)
Nov 6
Trade Payable : Moonlight Co. $13,500 (debit)
Merchandise $13,500 (credit)
Nov 8
Accounts Receivable : Quinn Co. $15,600 (debit)
Cost of Goods Sold $9,400 (debit)
Sales Revenue $15,600 (credit)
Merchandise $9,400 (credit)
Nov 13
Trade Payable : Moonlight Co. $7,750 (debit)
Discount allowed $155 (credit)
Cash $7,620 (credit)
Nov 14
Cash $236,000 (debit)
Cost of Goods Sold $140,000 (debit)
Sales Revenue $236,000 (credit)
Merchandise $140,000 (credit)
Nov 15
Trade Payable : Papoose Creek Co $47,500 (debit
Discount Allowed $950 (credit)
Cash $46,550 (credit)
Nov 23
Cash $15,600 (debit)
Accounts Receivable : Quinn Co. $15,600 (credit)
Nov 24
Accounts Receivable : Rabel Co.. $56,900 (debit)
Cost of Goods Sold $34,000 (debit)
Sales Revenue $56,900 (credit)
Merchandise $34,000 (credit)
Nov 28
Visa Service Fee $3,540 (debit)
Cash $3,540 (credit)
Nov 3
Sales Revenue $6,000 (debit)
Merchandise $3,300 (debit)
Accounts Receivable : Quinn Co. $3,300 (credit)
Cost of Goods Sold $9,400 (credit)
Explanation:
Please Be very careful :
-to exclude trade discount
-to to use perpetual inventory method
- to check if payment falls within the cash discount period
- include freight charges in invoice amount for FOB purchases
See the journal prepared above.
Charlene has a monthly salary of $3,410. With her present budget, Charlene has a net income that is 7% of her monthly salary. Charlene is going to reduce her net income by $125 each month and put this money towards paying down her debt. What will Charlene’s new net income be? a. $113.70 b. $176.70 c. $229.95 d. $238.70 Please select the best answer from the choices provided A B C D
Answer:
a. $113.70
Explanation:
The computation of the new net income is shown below:
= Monthly salary × net income percentage - reduced amount of net income per month
= $3,410 × 7% - $125
= $113.70
Hence, the corrected net income is $113.70
Therefore the correct option is a. $113.70
All other options are wrong hence ignored them
Answer:
a
Explanation:
Chris Fowler borrowed $93,290 on March 1, 2018. This amount plus accrued interest at 8% compounded semiannually is to be repaid March 1, 2028. To retire this debt, Chris plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2023, and for the next 4 years. The fund is expected to earn 7% per annum.How much must be contributed each year by Chris Fowler to provide a fund sufficient to retire the debt on March 1, 2025?
Answer:
$43,027
Explanation:
The computation of the amount to be contributed each year is shown below:-
Amount to be repaid on March 1, 2025 = Loan amount × (1 + Interest Semiannually )^Number of years
= $93,290 × (1 + 0.04)^20
= $93,290 × 2.191123143
= $204,409.878
Amount to be contributed = Required future value ÷ Cumulative FV factor at 7% for 5 periods of annuity due
= $204,409.878
÷ 4.75074
= $43,027
Infinity times Infinity
Answer:
I think its just infinity
Answer:
Infinity
Explanation:
When reconciling or balancing your checking account, which of the following correctly describes the math?
A) add withdrawals and fees, subtract deposits
B) add deposits, subtract withdrawals and fees
Answer:
B) add deposits, subtract withdrawals and fees
Explanation:
A checking account is a deposit and saving account held in a financial institution, mostly a bank. The user or owner of the checking account is allowed to deposit and withdraw money as frequently as they deem necessary without incurring access fees.
Money held in a checking account is accessible using different ways, including debit cards, ATMs, and over the counter. When reconciling a checking account, one needs to subtract the sum of "money out" from "money in. "
"Money in" comprises mostly of deposits. "Money out" is the total of withdraws plus other bank charges levied to the account.
drawing increase the investment of the owner true or false
PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST)
Every monetary decision we make involves a level of choice, usually of one thing over another. What is the name for this financial trade-off?
A. personal risks
B. inflation
C.opportunity cost
Answer:
C.opportunity cost
Explanation:
this is super easy
Answer:
C
Explanation:
Took the test :)
A market conditions featuring many producers selling the same good is called __?
Answer:
A perfect competition market structure
Explanation:
A perfect competition market structure has many suppliers selling a homogeneous or identical product. There are no dominant sellers, meaning no supplier can influence the price. All sellers are competing against each other.
The other features of a perfect competition market structure include
There is freedom of entry and exit from the market, i.e., trade barriers do not exist.There are very many buyers.Suppliers sell identical goods.Sellers have a motive to maximize profits.Buyers are sufficient information about the market.Answer
pure competition
Explanation
multiple choice test 2.3.4: Market Structures
Bond P is a premium bond with a coupon rate of 9 percent. Bond D has a coupon rate of 5 percent and is currently selling at a discount. Both bonds make annual payments, have a YTM of 7 percent, and have 10 years to maturity.
a. What is the current yield for Bond P and Bond D? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
b. If interest rates remain unchanged, what is the expected capital gains yield over the next year for Bond P and Bond D?
Answer and Explanation:
The computation of the current yield for the bond P and bond D also the expected yield with related to the capital gain for the bond P and bond D should be shown in the attachment without changing the rate of interest. There are two attachments one is of final values and the other ones is of the formulas used
Mary's company trained her to perform managerial functions, formulate innovative strategies, and also solve technical issues. Given this information, it is likely that Mary's company provided her _____. a. diversity training b. decision-making training c. interpersonal skills training d. cross-training
Answer:
b. decision-making training
Explanation:
Analyzing the information above, it is likely that Maria's company provided training for decision making.
It is possible to make this statement, since management functions are those responsible for formulating innovative strategies and also solving technical problems. Therefore, the appropriate training is that oriented to decision making.
A leader is one who formulates strategies that will help an organization achieve its objectives and goals, as well as assist the organization to use the means and actions necessary for these achievements, which is accomplished through strategic and favorable decisions for success organization.
help please i have 1 hour
The current event on nutrition that I decided to study was the effects of the consumption of soybeans and proteins derived from them. For vegetarians and vegans partaking in a fit or sporty lifestyle, foods like tofu, edamame, and sliced tempeh are some of the easiest sources of protein. With plant-based diets booming in popularity, and movies like "Game Changers" swaying people towards eating less meat, I found article "Is Eating Soy Healthy or Unhealthy?" (Alina Petre, August 27, 2020) on Healthline to analyze.
In summary, soybeans and soybean derived foods are indeed rich in vitamins, protein, fiber, and antioxidants. They also contain every vital amino acid, making them a perfectly adequate if not better source of protein than red and lean meats. They may help lower cholesterol, blood pressure, blood sugar, and even improve fertility. My reaction to this was incredibly surprised. Many say that the estrogen-like compounds will have negative effects on the body, and that because foods like tofu and tempeh are processed, they might increase your risk for cancer. On the contrary, it is actually the opposite. What I found peculiarly interesting about the article is is the amount of studies saying that people who consumed diets rich in soy actually had a surprisingly lower risk for certain cancers. The only thing that really threw me off about soy was the fact that most soy crops are genetically modified, but the negative effects of that are yet to be tested.
To conclude, the things I found most peculiar or interesting were the lack of studies behind the negative effects of soy products and the amount of cancer-risk reducing properties they contained. My reaction to this article was definitely surprised, and I can't think of anything within it that I disagree with.
I hope this helps! Feel free to shorten it down or format it in a way that works best for you. :)
Answer:
all that looks right up ther
1) Based on the video, which type of
departmentalization is used by the parent company
of MyGym?
a
Geography
b
Functional
с
Product
d
Process
Customer
e
Answer:
d customer
Explanation:
because people buy memberships to the gym
hope it helps
Sharon is opening a new pizza restaurant that will use a combination of workers and ovens to produce pizzas. Sharon knows from experience that the total number of pizzas she can produce in an hour is given by the function q=4K0.5L0.5 , where q is the number of pizzas per hour, K is the number of ovens, and L is the number of workers. Suppose another pizza restaurant in the same town can produce 19 pizzas per hour. Being an extremely competitive person, Sharon wants to produce 20 pizzas per hour. Therefore, his total hourly cost function is given by ____
Answer:
Q+X = [4K^1/2L^1/2] + X
Explanation:
L = labour = workers
K = capital = ovens
You don't have the exact value of Q since the values of K and L are not given.
You should however note that Q is less than or equal to 19 pizzas/hour, since Sharon sought to stretch his capacity by producing up to 20 pizzas/hour owing to the presence of a competitor.
Assuming the distance/difference between 20 and Q is X (a positive number).
Sharon's new hourly cost function will be:
[tex]Q+X = [4K^1/2L^1/2] + X[/tex]
Q+X = 20 and the law of mathematics states that whatever you add to the left hand side must be added to the right hand side, hence the addition of X to both sides of the equation instead of the left hand side alone.
The function can now be rewritten as 20 = [4K^1/2L^1/2] + X
where X = 20 - Q
Would rocks make a good form of money? Explain why or why not?
Answer:
no.
Explanation:
They are to common.
The research and development (R&D) team of DataCom Corp., a software firm, holds a meeting to discuss potential ideas for new products. In the meeting, the moderator encourages everyone to share their ideas, no matter how trivial they may seem. He warns members against criticizing any idea and asks them to focus on offering plenty of ideas. In this scenario, the R&D team of DataCom is engaged in _____.
a. concept testing
b. idea screening
c. brainstorming
d. beta testing
Answer:
c) Brainstorming
Explanation:
The R&D team has invited potential ideas, encouraged by everyone, without criticism.
The company is engaged in Brainstorming. Brainstorming is a group creativity technique, where many ideas from various people are collected, & are pondered upon for arriving at a situation.
epreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a residual value of $4,500 and a two-year service life.The company estimates future uncollectible accounts. The company determines $13,000 of accounts receivable on January 31 are past due, and 30% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 4% of these acc
Complete question text:
1. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated residual value of $4,500 and two-year service life. Equipment cost $16,000
2. The company estimates future uncollectible accounts. The company determines $13,000 of accounts receivable on January 31 are past due, and 30% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 4% of these accounts are estimated to be uncollectible.
Account Receivable 46,400
Allowance 4,300
Answer:
depreciation expense 479.17 debit
accumulated depreciation - equipment 479.17 credit
-----
uncollectible account expense 2,236 debit
allowance for uncollectible amount 2,236 credit
Explanation:
We solve for the yearly depreciation:
(cost - residual value) / useful life
(16,000 - 4,500) / 2 = 5,750 per year
monthly depreciation: 5,750 / 12 = 479,17
--------------------
We solve for the different receivables ages:
13,000 x 40% = 5,200
46,400 - 13,000 = 33,400 not past due
33,400 x 4% = 1,336
we add them together and get 6,536
now we compare against the current allowance to determiantethe adjustment:
6,536 - 4,300 = 2,236
cookiesamichael12345678
Answer: ?
Explanation:
Girl what does that mean, either you can count right or thats a username
When is the right time to create a will?
Answer:
Typically, anyone can prepare a will if they are over 18 years old.
Explanation:
Q 19.22: Portland and Hadley operate in the same industry. Portland's sales, variable costs, and fixed costs are $1,000,000, $700,000, and $100,000, respectively. Hadley's sales, variable costs, and fixed costs are $1,000,000, $400,000, and $400,000, respectively. If each company experiences an equal increase or decrease in sales, Hadley's income will
Answer:
Go up or down by the same amount as Portland’s because both companies have equal net income
Explanation:
Here are the options to this question :
A: Go up twice as much as Hadley’s, but go down only half as much as Portland’s.
B: Go up or down twice as much as Portland’s.
C: Go up or down by the same amount as Portland’s because both companies have equal net income.
D: Go up or down half as much as Portland’s.
Income = Revenue - total costs
total costs = fixed costs + variable cost
For Portland
$1,000,000 - ($700,000 + $100,000) = $200,000
For Hadley :
$1,000,000 - ($400,000 + $400,000) = $200,000
If each company experiences an equal increase or decrease in sales, Hadley's income will increase and decrease as much as Portland's because both companies have equal net income
The main difference between a matrix-style organization model and a cross-functional team is: Question 6 options: the matrix model has a limit on the number of functional units who send an expert to join the team, whereas the cross-functional team does not. the matrix model is a temporary arrangement, whereas the cross-functional team is a more permanent arrangement. the matrix model shares leadership responsibilities within the group, whereas the cross-functional team does not. the matrix model is a more permanent arrangement, whereas the cross-functional team is a temporary arrangement.
Answer:
the matrix model is a temporary arrangement, whereas the cross-functional team is a more permanent arrangement.
Explanation:
The matrix model is a temporary setting where participants report back to their functional unit upon completion of the project. The cross-functional team is a more stable system where the same team works on multiple projects.so correct option is the matrix model is a temporary arrangement, whereas the cross-functional team is a more permanent arrangement.what is the importance of opportunity cost to the governmentk
Answer:
Opportunity cost is important to economic agents, such as consumers, producers and governments. For example, producers might have to choose between hiring extra staff and investing in a new machine. The government might have to choose between spending more on the NHS and spending more on education.
Becoming more efficient and minimizing start-up costs are ways to
A) Increasing net profit
B) Decreasing gross profit
C) Increasing gross profit
D) Decreasing net profit
Becoming more efficient and minimizing start-up costs are ways to Increase net profit. Thus the correct option is A.
What are startup costs?The costs involved in establishing a new firm are known as startup costs. Equipment, registration fees, insurance, and taxes are startup expenses because they are needed when a business is first started up.
The start-up costs of a business should be low as the initial level there is high risk associated with the business. To reduce the startup costs it is important to do proper research and fix a budget for particular things.
After planning and things get implemented it is important to track every operation to minimize the cost and control the functions timely to help to perform efficiently with the resources.
A business can increase its profit margins without compromising quality, sales price, or product sales by improving the supply chain, manufacturing companies, staff, and facilities used in business.
Therefore, option A is appropriate.
Learn more about Net profit, here:
https://brainly.com/question/22024991
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Explain two benefits to Walmart of setting up a joint venture to enter the Indian market
Answer:
Walmart will get more money. It will also expand their brand.
Explanation:
^
You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly payment is $ 2 comma 356 and you have made every payment on time. The original term of the mortgage was 30 years, and the mortgage is exactly four years and eight months old. You have just made your monthly payment. The mortgage interest rate is 7.500 % (APR). How much do you owe on the mortgage today? (Note: Be careful not to round any intermediate steps less than six decimal places.)
Answer:
$320,244.92
Explanation:
We must first determine the principal of the loan and we can do that by using the present value of an annuity formula:
PV = monthly payment x annuity factor
monthly payment = $2,356PV annuity factor, 360 periods, 0.625% = 143.01763PV = $2,356 x 143.01763 = $336,950
Once we have calculated the principal, we can prepare an amortization schedule. I used an excel spreadsheet to do it. Four years and 8 months is the same as 56 monthly payments. The principal's balance after the 56th payment is $320,244.92
What is the message of the poem "We all need love"
Answer:
The poem talks about love and togetherness that love can bring in the lives of the human beings.
Explanation:
The poem "We all need Love" written by Maxim Muyu highlights the importance of love in the life of humans. The poem explains how 'love' can diminish bad vibes and create a whole new world of peace and brotherhood. Throughout the poem, the theme of loving each other has been highlighted. It is only by loving others that the evils like 'depression' and 'racism' can be eradicated in the society. The word 'Love' is very strong and meaningful. Love is the requirement of every individual and it helps the heart and the mind to come together.
Love is a feeling of attraction, care and affection towards someone.
An individual can either love someone or be loved by someone. Self love is very important because you need to learn to love yourself before you can extend it to someone else.The poem "We all need love" reiterate the importance of love in the family, among friends and the society. Love helps to promote unity and corporation.Existence of love promotes togetherness.
Read more:
https://brainly.com/question/6941656
When researching a career goal, it is probably most important to ask what ____
you will need for this career.
O A. shoes
O B. cell
O c. briefcase
O D. education
Why do you think it is so important for a résumé to be free of any grammar and spelling errors?
Answer:
A reasonably competent person would make sure everything was correct. That person would want to display care, diligence and attention to detail by using correctly spelled words and proper grammar. These are all valuable traits that employers look for in an employee.
Explanation:
Answer:
It is important that your resume doesn't have grammar and spelling errors because you interviewer will see if you are a competent person and they will see that you have what it takes to do that job
Explanation:
Hope this helps
If consumer wealth decreases as the stock market plunges, then (3 points) there is a movement down the AD curve as price level decreased. AD shifts right and price level would decrease. AD shifts right and price level would increase. AD shifts left and price level would decrease. AD shifts left and the price level would increase.
Answer:
AD shifts left and price level would decrease.
Explanation:
If consumer wealth decreases due to a plunge in the stock market, the AD curve will shift to the left. This is because shifts to the left of the AD curve represent a reduction in demand, and if consumers are poorer, they will naturally decrease their demand.
This will in turn reduce the price level, because in a market system, prices will fall until they meet the new, lower demand, meaning that a new equilibrium price is reached.
Yong teaches students with learning disabilities and physical disabilities.
Barb teaches computer programming to high school students.
Maya works in a private school teaching math to seventh-grade students.
Destiny works in a college teaching English to adult students.
Tanner helps an elementary school teacher and works under the guidance of that teacher.
ANSWERS: 1.Special Education 2. Career and technical education 3. Middle school 4. Post secondary teacher 5.teacher assistant
Answer: Special education teacher
Career and technical education teacher
Middle school teacher
Post secondary teacher
Teacher assistant
Explanation:
Answer:
1.Special education teacher
2.Career and technical education teacher
2.Middle school teacher
3.Post secondary teacher
4.Teacher assistant
Explanation:
Community colleges and vocational schools offer programs in maintenance and repair.
A
True
B.
False