Answer:
Option C) Littman's $179 expense will be greater than $100,000
Explanation:
Data:
Littman LLC placed in service on July 29, 2019, machinery and equipment (seven-year property) with a basis of $600,000. Littman's income for the current year before any depreciation deduction was $100,000
From the options, In order to minimize depression, Littman's $179 expense will be greater than $100,000. This will come from the profit loss reconciliation. Hence option C will be the correct option in this case.
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Schrute Farm Sales buys portable generators for $470 and sells them for $720 He pays a sales commission of 5% of sales revenue to his sales staff. Mr. Schrute pays $7,000 a month rent for his store and also pays $1,700 a month to his staff in addition to the commissions. Mr. Schrute sold 500 generators in June.
Revenue= 720*500= $360,000
Cost of goods sold= 470*500= 235,000 (-)
Sales commision= 0.05*360,000= 18,000 (-)
Contribution Margin= 107,000
Rent= 7,000 (-)
Fixed sales comission= 1,700 (-)
Operating income= $98,300
Answer:
journal entry are given below
Explanation:
given data
amount of interest = $150
solution
we know that as June 30 the interest earn company bank reconciliation is
$150
Therefore, it should be a cash debit and interest income should be deposited in the account as
journal entry are as June 30
Cash A/c $150 Dr.
To Interest revenue $150
record the interest revenue earned
Answer:
The correct answer is B.
Explanation:
Giving the following information:
One year ago, Deltona Motor Parts deposited $16,500 in an investment account to buy new equipment three years from today. Today, it is adding another $12,000 to this account. The company plans on making a final deposit of $20,000 to the account one year from today.
To calculate the future value of the investment, we need to use the following formula:
FV= PV*(1+i)^n
First deposit= 16,500*(1.045^4)= 19,676.56
Second deposit= 12,000*(1.045^3)= 13,694
Third deposit= 20,000*(1.045^2)= 21,840.5
Total= $55,211.06
Answer:
both
- United Continental with a capital expenditure of 60.68%
- Southwest Airlines with a capital expenditure of 51.38%
Explanation:
Since United Continental's purchases of Boeing planes represent over 60% of their capital expenditures, this means that Boeing had to be the primary plane supplier. Even if the company purchased planes form other manufacturer, their purchases would not even be 40% of the company's purchases.
The same applies to Southwest Airlines, even though the purchases from Boeing are a little lower, they are still over 51%. This means the company could not have spent more money on purchasing planes from another company. The maximum purchase from another airplane manufacturer would have been less than 49% at most.
Besides the previous analysis, you must also consider that the company spends money on things besides airplanes, e.g. new training facilities, equipment, computer software, other vehicles, etc.
