Answer:
A. Mr. Fudd to pay Mr. Leghorn between $500 and $900 to continue hunting.
Explanation:
Answer:
• Under U.S. GAAP, companies recognize deferred tax assets and then reduce those assets with an offsetting valuation allowance if its is not more likely than not that the asset will be realized.
• Under IFRS, deferred tax assets only are recognizefd to begin with if its is probable (defined as '' more likely than not'') that they will be realized.
Explanation:
A deferred tax asset occurs when taxes are either been overpaid or there's an advance payment for them. In this scenario, they're not yet acknowledged in the income statement.
Valuation allowance is a reserve used by a business to offset the deferred tax asset. The statements that are true about the valuation allowance are:
• Under U.S. GAAP, companies recognize deferred tax assets and then reduce those assets with an offsetting valuation allowance if its is not more likely than not that the asset will be realized.
• Under IFRS, deferred tax assets only are recognizefd to begin with if its is probable (defined as '' more likely than not'') that they will be realized.
Answer:
117,000 adjusted COGS
Explanation:
35,000 + 136,000 = 48,000 + COGS
COGS = 123,000 before adjustment
overapplied overhead for 6,000
This means the applied is higher than actual expenses, the cost is 6,000 lower we must decrease the COGS
123,000 - 6,000 = 117,000 adjusted COGS
Answer:
3. one case of 24 sodas @ $ 18.50
Explanation:
The question requires that the hosts need to have enough to have two sodas each. The number of guests being 10, the requirement is to have 20 sodas.
Now comparing the various pack sizes available:
1. 20 sodas $ 1.50 per bottle, Total cost $ 30, per serving cost $1.50
2. 4 6 packs @ $ 5 each. Total cost $20, Per serving cost $0.83
3. 24 soda case @ $18.5. Total cost $ 18.50, Per Serving costs $ 0.77
4, 2 x 24 soda cases @ 18.50. Total Cost $ 37.00 Per serving costs $ 0.77
The per serving costs are the same in 3 & 4 above, however, since the requirement is to have 20 sodas and the overall costs as well as the per serving costs is the best in option 3, this is the preferred option.
