Answer:
$117,417
Explanation:
Calculation to Determine the amount to be capitalized in the asset account
Costs that are to be capitalized:
List price $118,660
Less: Discount ($5,043)
($118,660*4.25%)
Freight cost $2,640
Specialist fee $1,160
Total costs $117,417
Therefore the amount to be capitalized in the asset account will be $117,417
Answer:
The E & P ($20,000)
Explanation:
E & P January 2019 $100,000
For the year E & P $130,000
Closing E & P December 31,2019 $230,000
Less: Dividends paid ($250,000)
Net Deficit in earnings ($20,000)
Although dividends are always paid to the extent of retained earnings but in this question, dividends have exceeded earnings which is only and only assumption not a practical world question.
Matthew manages the sales team at an information technology (IT) firm. His focus is to conduct business in accordance with his firm's mission and vision, while making as much money as possible for the firm and conforming to the basic rules of the society. He ensures that his actions embody ethical custom. In this scenario, Matthew's view of corporate social responsibility is most likely rooted in the <u>Utilitarian </u>tradition.
Explanation:
Utilitarianism is a ethical theory which talks about the right and the wrong actions of an individual.This theory advocates that the action that brings happiness to the society and also increases the utility in the society as a whole is called a morally correct action.
This theory was proposed by Jeremy Bentham and John Stuart Mill.
In simple words an action is termed as right if it promotes happiness in the society and is termed bad it it brings unhappiness in the society
So we can say that Matthew's view of corporate social responsibility is most likely rooted in the <u>Utilitarian </u>tradition.
Answer:
Smith will report an investment income of $56,000 in its income statement.
Explanation:
Based on the information given we were told that Smith made a purchased of the amount of $522,000 of Jones shares in which as of December 31, 2021, the Jones shares also had a fair value of the amount of $578,000 this means that Smith will report an investment income of $56,000 ($578,000-$522,000) in its income statement.
Answer:
A) Debit cash, credit accounts receivable
Explanation:
As the statement said, Zoono electronics made a payment which means they are debiting cash amount of $3,500 to imperial distributor who is a supplier. So the best statement that best describes the recording of this financial transaction by imperial distributor is their account receivable has been credited and cash is debited. All the other options are wrong except this.
