Smith-Kline Company maintains inventory records at selling prices...
Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2021, the records indicate the following data:
($ in 000s) CostRetailBeginning inventory$80 $125 Purchases 671 1,006 Freight-in on purchases 30 Purchase returns 1 2 Net markups 4 Net markdowns 8 Net sales 916 Required:
Assuming the price level increased from 1.00 at January 1 to 1.10 at December 31, 2021, use the dollar-value LIFO retail method to approximate cost of ending inventory and cost of goods sold. (Do not round intermediate calculations. Round final answers to the nearest whole dollar. Enter your answers in thousands.)

Answers

Answer 1

Cost of Ending Inventory: $854,000 (approx.) Cost of Goods Sold: -$76,000 (approx.)

To approximate the cost of ending inventory and cost of goods sold using the dollar-value LIFO retail method, we need to calculate the cost-to-retail percentage.

1. Calculate the cost-to-retail percentage:

Cost-to-Retail Percentage = Cost at Retail / Retail Value

Beginning inventory cost at retail = $80,000

Beginning inventory retail value = $125,000

Purchases cost at retail = $671,000

Freight-in cost at retail = $30,000

Purchase returns cost at retail = $1,000

Net markups cost at retail = $4,000

Net markdowns cost at retail = $8,000

Net sales retail value = $916,000

Total cost at retail = Beginning inventory cost at retail + Purchases cost at retail + Freight-in cost at retail + Purchase returns cost at retail + Net markups cost at retail - Net markdowns cost at retail

= $80,000 + $671,000 + $30,000 + $1,000 + $4,000 - $8,000

= $778,000

Total retail value = Beginning inventory retail value + Purchases retail value + Net markups retail value - Net markdowns retail value - Net sales retail value

= $125,000 + $1,006,000 + $4,000 - $8,000 - $916,000

= $211,000

Cost-to-Retail Percentage = $778,000 / $211,000

= 3.68

2. Calculate the ending inventory at cost:

Ending inventory at retail = Total retail value * Price level at the end of the period

= $211,000 * 1.10

= $232,100

Ending inventory at cost = Ending inventory at retail * Cost-to-Retail Percentage

= $232,100 * 3.68

= $854,368 (approximately $854,000)

3. Calculate the cost of goods sold:

Cost of Goods Sold = Total cost at retail - Ending inventory at cost

= $778,000 - $854,368

= -$76,368 (approximately -$76,000)

Since the cost of goods sold is negative, it indicates an error in the calculations or data. Please review the calculations and data provided to ensure accuracy.

Learn more about Net markdowns here:

https://brainly.com/question/18761936

#SPJ11


Related Questions

How is lease calculated in IFRS 16?

Answers

The following formula is used to determine the lease liability value in accordance with IFRS 16: present value of the lease payments payable over the lease term, discounted at the rate implicit in the lease.

The guidelines for how leases should be recorded, valued, presented, and disclosed are all spelled out in IFRS 16. The goal of this standard is to guarantee that relevant information that faithfully portrays those transactions is provided by both lessees and lessors.

Lease liabilities must be initially calculated using the present value of lease payments that have not yet been made in accordance with IFRS 16. The rate of interest implied by the lease should be the discount rate used to assess present value.

To learn more about lease, click here:

https://brainly.com/question/24262049

#SPJ4

What is VAT in Pakistan?

Answers

Unless specifically exempt or subject to sales tax at a reduced rate, VAT (locally known as "sales tax") is typically imposed at 17% on the value of products, after allowing for corresponding input credits.

Who owes Pakistani VAT?

All four provinces, the Islamabad Capital Territory, Gilgit-Baltistan, Azad Jammu, and Kashmir impose a sales tax on services at rates ranging from 13% to 16%. For some particular services, lower fees have been prescribed. In cases when the rate is reduced, input tax adjustment is typically not permitted.

In addition to the usual sales tax that must be paid at the import stage, commercial imports of goods are subject to VAT at the rate of 3%. If certain circumstances are met, an additional 3% tax is due while making supply to inactive taxpayers.

To know more about VAT, refer:

https://brainly.com/question/29551461

#SPJ4

which of the following is not a principle of a free enterprise economy?a. right of private ownershipb. competition among businessesc. a major government role in the economyd. freedom of choice

Answers

simple principles: (I 1 freedom of choice; (2) non-public property rights; (3) earnings intent of owners; and (4) proprietor control. In the United States, there are three fundamental sorts of business firms - individual- ly owned, partnerships, and corporations.

What are the five principles of a free financial system?

The U.S. monetary machine of free organization has five foremost principles: the freedom for humans to choose businesses, the right to personal property, profits as an incentive, competition, and patron sovereignty

Its traits consist of market competition, private property, specialization, voluntary exchange, a charge system, and entrepreneurship. Some frequent kinds of free agencies are liberal market economies, coordinated market economies, and blended market economies

Learn more about free enterprise economy here:

https://brainly.com/question/30185633#SPJ4

Slack of an activity can be calculated by subtracting the earliest start time of the activity from its earliest finish time.
True
False

Answers

Slack of an activity can be calculated by subtracting the earliest start time of the activity from its earliest finish time.

The given statement is "FALSE"

What is mean by slack?

The total amount of time you can put off a task without putting off the project is known as slack time. Project scheduling is more flexible when there is more free time. Schedule some extra time to account for any dangers. Slack time is a sign of how nimble project work schedules may be.The amount of time a task can float, also known as slack, before colliding with another job.

To learn more about slack:https://brainly.com/question/27480344

#SPJ4

False. Slack of an activity is calculated by subtracting the latest finish time of the activity from its earliest finish time.

What is slack of an activity? Slack also known as float is the amount of time that an activity can be delayed without delaying the project's completion date. It represents the flexibility or the buffer time available in the schedule. It is the difference between the earliest start time and the latest start time or the earliest finish time and the latest finish time of an activity.In a project, there are activities that are critical and those that are not critical. Critical activities are those that have zero slack, meaning if they are delayed, the project completion date will be delayed as well. On the other hand, non-critical activities have slack, meaning they can be delayed without affecting the project completion date. Knowing the slack of an activity can help project managers to identify the critical path and make decisions about how to best use the available resources.

To learn more about slack refer:

brainly.com/question/29215742

#SPJ4

What is federal tax in Pakistan?

Answers

Federal taxes are those that are collected and paid to the federal government of the nation. Federal taxes are used by governments to fund the expansion and maintenance of the nation.

How is federal tax calculated?

Individuals' wages and salaries, investment income, and other types of income are all subject to income taxes. The second-largest source of federal revenue, accounting for nearly one-third of all annual receipts, payroll taxes support Social Security, Medicare, and unemployment benefits.

The rates are based on taxable income, which is calculated as adjusted gross income less the standard deduction or any permissible itemised deductions. Thus, there is no tax on income up to the standard deduction (or itemised deductions). The federal income tax rate is graduated: Taxable income is subject to greater rates of taxation as it rises.

To know more about federal tax, refer:

https://brainly.com/question/20309158

#SPJ4

Companies using lean systems generally have:
a. many suppliers to ensure that material shortages never occur.
b. suppliers that are located nearby to decrease delivery lead time.
c. suppliers that are willing to accept short-term contracts.
d. suppliers who are low-cost producers

Answers

Here options A, option B, option C, and option D all are correct because they are important in the lean system.

Lean systems are a type of management system that focuses on eliminating waste and streamlining processes to maximize efficiency. Companies using lean systems generally have suppliers who are low-cost producers, suppliers that are located nearby to decrease delivery lead time, suppliers that are willing to accept short-term contracts, and many suppliers to ensure that material shortages never occur.

Low-cost producers are important to companies using lean systems because they can help reduce the costs of materials and services. By minimizing the cost of materials, companies using lean systems can focus their resources on production and other activities that will help improve the efficiency of their operations.

Suppliers that are located nearby are also important in lean systems. By having suppliers located close to the company, delivery lead times can be reduced, allowing for a faster production process. This will help the company respond quickly to changes in demand and reduce the costs associated with long delivery times.

Short-term contracts with suppliers are also important in lean systems. By having short-term contracts, companies can better control costs and adapt quickly to changes in the market. Additionally, short-term contracts can also provide the company with greater flexibility in terms of pricing and delivery.

Learn more about lean system:

https://brainly.com/question/29314383

#SPJ4

Anthropoids differ from prosimians in that they:

Answers

All primates formerly identified as monkeys and apes are now classified as simians, anthropoids, or higher primates. Prosimians are not as good at seeing color as anthropoids.

What are Anthropoids?

The group of primates known as the simians, anthropoids, or higher primates includes all species formerly referred to as monkeys and apes.

More specifically, they are made up of the suborders Catarrhini, which includes the family Cercopithecidae and the superfamily Hominoidea, and the parvorders New World monkeys.

Prosimians' color vision is inferior to anthropoids.

The lemurs of Madagascar, the lorises, pottos, and tarsiers of Southeast Asia, as well as the African bush infants, are examples of prosimians.

Humans, apes, and monkeys are all anthropoid species.

Recent Middle Eocene finds from Myanmar and China suggest that anthropoid monkeys evolved in Asia rather than Africa as previously thought.

Therefore, prosimians are not as good at seeing color as anthropoids.

Know more about Anthropoids here:

https://brainly.com/question/27380927

#SPJ4

What is marginal revenue Mcq?

Answers

Marginal revenue is the difference in revenue or extra income that a business makes when it sells more of its output per unit.

The amount of money a company generates for each additional unit sold is calculated using financial and economic principles to produce marginal revenue. A company's marginal revenue frequently varies depending on how many units it has already sold because the price of a good is frequently connected to market supply and demand.

Multiple situations call for the usage of marginal revenue. Businesses examine the market's client demand for items using historical marginal revenue data. According to economic theory, firms that are completely competitive keep on producing goods until marginal revenue and marginal cost are equal.

To learn more about Marginal revenue, visit the link below:

brainly.com/question/30105574

#SPJ4

Business-to-business buying over the Internet

Group of answer choices

has dramatically decreased since face-to-face communication between a firm's sales force and its potential customers is so important.

is impossible to estimate since companies will not share procurement information.

is at least twice as large as consumer online buying when measured by the total dollar value of all online transactions.

is nearly equivalent to consumer electronic commerce when measured by the total dollar value of all online transactions.

has never been popular since it presents massive security risks for companies.

Answers

 B2B (business-to-business), a type of digital commerce (e-commerce), is the alternate of products, choices or records between businesses,

alternatively than between corporations and customers (B2C). A B2B transaction is carried out between two companies, such as wholesalers and online retailers.

What is B2B e-commerce with example?

B2B ecommerce entails transactions between a manufacturer and wholesaler, or a wholesaler and a retailer, via an on-line income portal. B2B ecommerce is one of the fastest-growing income models. Some estimates charge the world B2B ecommerce market at over $12 trillion, taking up 13% of total B2B sales in the US.

To aid you get a higher idea of the extraordinary sorts of agency clients in B2B markets, we have put them into 4 critical categories: producers, resellers, governments, and institutions.

Learn more about Business-to-business buying here:

https://brainly.com/question/17408077#SPJ4

Analogous estimates are the most accurate technique to estimate costs.

True or False

Answers

Above statement is correct. The most precise method for cost estimation is analogous estimations. Allocating the project cost estimate to specific work items across time results in the budget being determined.

What is considered the most accurate estimate?

The most accurate way is a thorough estimate, which entails calculating the cost as well as the quantities of each work item. Each item's numbers are computed and the dimensions are taken directly from the drawings.

What is analogous estimating?

Using a method called "analogous estimating," a project manager might estimate the size and expense of a current project by looking at a similar one, studying its characteristics, and using that knowledge. Since the project manager bases their estimate on a comparison, the more data they have access to, the more accurate their evaluation will be. The understanding and application of this kind of estimating technique is simple. When they don't know much about their present project, project managers frequently employ it.

To know more about analogous estimating visit:                  brainly.com/question/14546840

#SPJ4

The three strategies of globalization can be summarized using what three words?

Answers

Three words—sell, make, and buy—can sum up the three globalization tactics. The Kimberley Process is one example of a Global Action Network, or GAN.

What three traits best describe globalization?

Transnational corporations, free trade agreements, consumer culture, and the labor force all have a role in these areas.

What is an illustration of a social and political transformation that has sped up globalization?

the fall of former communist nations in eastern and central Europe. The World Bank's loan guidelines: impose stringent limitations on debtor nations, which can occasionally be difficult.

What does the International Monetary Fund IMF quizlet aim to achieve?

Promote currency stability, uphold orderly exchange arrangements among members, and prevent competitive exchange depreciation are the three major goals of the International Monetary Fund. The IMF has come under fire for failing to take into account the characteristics of the nation they were working with.

To Know more about Monetary Fund.

https://brainly.com/question/14548372

#SPJ4

What are examples of short term investments?

Answers

Examples of short-term investments are treasury bills, Money market funds,  Certificates of deposit etc.

Financial assets that are anticipated to be converted into cash in a year or less are referred to as short-term investments. The examples include -

Treasury bills: These are generally issued by the government, these low-risk, low-return investments mature in less than a year.

Money market funds: Investing in short-term debt assets like Treasury bills, commercial paper, and certificates of deposit is what money market mutual funds do.

COD's: Banks and other financial organisations provide certificates of deposit (CDs), which are time deposits with maturities ranging from a few months to a year.

Corporate bonds: These are debt instruments that firms issue and typically mature in three to five years.

Commercial paper: These are unsecured, short-term loans with maturities of up to 270 days and are typically issued by corporations.

Read more about short-term investments on:

https://brainly.com/question/16261301

#SPJ4

employees with negative affectivity are inclined to

Answers

Employees with negative affective traits usually feel resentment, concern, guilt, and rage. In order to communicate and resolve improper behaviour, a progressive disciplinary system employs a progression of harsher consequences.

Employees are people who work for an employer or a PCB and provide labour and knowledge to the operation of the company or PCB. They are hired to carry out particular duties that are collected as jobs. If a person is regularly hired by a company to provide services for the company in exchange for payment and if they are not carrying out these duties as an independent contractor, they are considered to be employees. This section covers distinct agreements or general classification. For other uses, see independent contractor (disambiguation). Businesses frequently struggle with employment classification, particularly for freelance workers. Many employees typically receive treatment similar to independent contractors.

Learn more about Employees here:

https://brainly.com/question/17134550

#SPJ4

Can men be as flexible as women?

Answers

Generally speaking, no, men cannot be as flexible as women.

Generally, women are more flexible than men due to their anatomical differences, particularly in the hips and pelvis. Women tend to have wider, more shallow hip sockets, which allows for a greater range of motion.

Additionally, women typically have looser ligaments, which makes it easier for them to move their joints through a full range of motion. In contrast, men typically have tighter ligaments and narrower, deeper hip sockets, which limits their flexibility.

Also, due to hormonal differences, women tend to experience less joint stiffness and lower levels of pain, which can further enhance their flexibility. Furthermore, women typically have better proprioception, which is the ability to sense the position of one's body in space.

For more questions like Men click the link below:

https://brainly.com/question/1483868

#SPJ4

Co-created content on social media refers to content that
A. is created by a company for use on its own social media accounts
B. is created by a company's customers
C. is created in conjunction with another social media profile
D. is taken from other social media profiles

Answers

Option C is correct. Co-created content on social media refers to content that is created in conjunction with another social media profile.

What is Social Media Marketing?

Social media marketing is the practice of using online platforms to interact with your target market. You may grow your brand, increase revenue, and increase website traffic with its assistance. In order to do this, you must provide engaging content for your social media profiles, engage with your followers, analyze your data, and run social media advertisements. In social media marketing, publishing was the first step. In an effort to increase traffic to their websites and, hopefully, income, businesses posted their material on social media. But social media has evolved well beyond being only a channel for the dissemination of content.

To know more about Social Media Marketing visit:      brainly.com/question/4241587

#SPJ4

What are the 3 main goals of a stable economy?

Answers

Maximum employment, stable prices, and moderate long-term interest rates are the three major goals of a stable economy.

When the economy is stable, people have access to the resources needed for a healthy lifestyle. Affordable housing, employment that pays a livable salary, elements that support work, such as worker protections, paid sick leave, and child care, as well as accessibility to dependable transportation, are all factors that affect financial stability.

People who endure economic instability are more prone to engage in risky activities, develop chronic illnesses, and die young. People of color are disproportionately affected by these circumstances, which have worse results for those who are facing economic instability during COVID-19.

To learn more about the economy, visit the link below:

brainly.com/question/10185982

#SPJ4

What is the role of a marketing campaign?

Answers

The role of a marketing campaign is to reach and persuade a specific target audience to take a desired action, such as purchasing a product or service or supporting a cause or organization. A marketing campaign typically involves a coordinated series of efforts, such as advertising, promotions, public relations, and other tactics, to achieve a common goal.

Some specific ways that a marketing campaign can help achieve a business goal are:

Increase brand awareness: A marketing campaign can help introduce a new product or service to the market or remind existing customers about a company's offerings.

Drive sales: A marketing campaign can help generate leads and convert them into paying customers.

Establish or strengthen brand loyalty: A marketing campaign can help create an emotional connection with the target audience and build a loyal customer base.

Differentiate a brand: A marketing campaign can help position a brand in a unique and compelling way, making it stand out from competitors.

Create or change brand perception: A marketing campaign can help shape how the target audience perceives a brand, by highlighting its unique features or values.

Overall, a well-designed marketing campaign can help a business achieve its goals by reaching, engaging, and converting its target audience.

To learn more about Marketing Campaigns,

https://brainly.com/question/25640993

#SPJ4

A company's environmental sustainability strategy concerns
O its action plan for making its products safer and greener, conserving on energy usage, and helping promote wider use of electric vehicles and increased public consumption of organic foods.
O its action plan for recycling paper and plastic products, reducing the pollution effects of its business activities, and supporting efforts to prevent global warming.
O its actions and efforts to keep worldwide use of the Earth's resources within levels that can be replenished and to prevent climate change.
O the time and money it plans to spend in collaborating with other businesses to reduce air and water pollution and counteract the effects of global warming worldwide.
O its deliberate actions to protect the environment, provide for the longevity of natural resources, maintain ecological support systems for future generations, and guard against ultimate endangerment of the planet.

Answers

Its deliberate actions to protect the environment, provide for the longevity of natural resources, maintain ecological support systems for future generations, and guard against ultimate endangerment of the planet.

Who or what defines a planet?

Three requirements are listed for a planet: There must be a star it revolves around (in our cosmic neighborhood, the Sun). It needs to be large enough to be shaped into a sphere by gravity. It has to be large enough to push any nearby items of a similar size out of the way due to gravity.

Why did Pluto cease to be a planet?

Because it hasn't "cleared its neighboring neighborhood of other objects," Pluto is considered by the IAU to be a "dwarf planet." This indicates that, unlike the larger planets, Pluto has not absorbed many asteroids and other space rocks over time, but rather still has a huge number of them along its flight path.

To know more about Planet visit:

https://brainly.com/question/14581221

#SPJ4

In the United States, we expect that cab drivers will know how to get around a city. This expectation is an example of which of the following?

Answers

This expectation is an example of Social Role.

What is Social Role?Social role is the collection of attitudes and typical actions expected of someone who holds a particular position or carries out a particular task in a social setting, such as being a spouse or providing care for elderly parents.The part people perform in a social group is known as their social role. Your behaviour adjusts to meet the standards that you and other people have for each social role that you assume. Consider all the roles you perform in a day, such as son or daughter, sister, brother, student, employee, friend, etc. Every social role has norms, which are accepted actions.

To learn more about Social Role, refer:

https://brainly.com/question/15873426

#SPJ4

Which of the following activities would take place during the product launch stage of the new-product development process

Answers

The acquisition of supplies needed to produce and package the commodity.The stages of the product development process are ideation, research, planning, prototyping, sourcing, costing, and commercialization.

Which of the following actions will occur throughout the new product development process' product launch stage? The acquisition of supplies needed to produce and package the commodity.The stages of the product development process are ideation, research, planning, prototyping, sourcing, costing, and commercialization. Although the process varies depending on the industry, it may be roughly divided into seven stages.In order to introduce the product to the market, the marketing mix comes together.The first phase of the product life cycle begins at this point.Planned, Analyzed, Designed, Developed, Tested, Implemented, and Maintained are the new seven phases of the SDLC.From conception to market launch, a product or service goes through new product development (NPD).The procedure outlines a number of phases that new products normally go through, starting with ideation and concept generation and concluding with the product's release to the market.

To learn more about product development refer

https://brainly.com/question/13926448

#SPJ4

What happened to women's roles after ww1?

Answers

Answer:

After the end of World War I, women's roles underwent a significant shift. Some of the changes that occurred include:

Return to traditional roles: Many women were expected to return to their traditional roles as homemakers and mothers after the war, as men returned to the workforce.

Loss of jobs: As men returned from the war, many women were laid off from their jobs or forced to leave to make way for the returning veterans.

Discrimination: Women faced discrimination in the workplace, as they were often paid less than men and faced limited opportunities for advancement.

Protests: Women who had gained new economic and social independence during the war, protested and organized to retain their rights and roles they had acquired during the war.

Changes in societal attitudes: Despite the return to traditional roles, the changes in societal attitudes towards women's capabilities and their right to work outside the home that had been brought about by the war remained.

Women's rights movements: The war had a profound impact on women's rights movements. Women's experience during the war had changed their perceptions of their roles and capabilities, and they began to demand more rights and opportunities for themselves.

Political participation: Women's political participation increased as a result of their work during the war, and many countries granted women the right to vote after the war.

Overall, while women's roles did shift back towards traditional roles after the end of World War I, the war had a lasting impact on women's rights and opportunities, laying the foundation for further progress in the decades to come.

Explanation:

Why is marketing process important?

Answers

The benefit of marketing for your company is that it engages consumers and helps them decide whether to purchase your goods or services. A marketing strategy, which is a component of your business plan, also aids in establishing and sustaining demand,  reputation, competition, etc.

Marketing is the process of determining, creating, and delivering value in order to meet the needs of a target market for goods and services. Additionally, it could entail selecting a target market, deciding which traits or themes to stress in advertising, executing advertising campaigns, taking part in public events and trade exhibits, and developing products. The marketing is the responsibility of the seller, who is typically a manufacturer or merchant. It is one of the main components of commercial and business administration. Marketers can direct their products at customers or other companies. Regardless of the target audience, a variety of characteristics, such as the marketers' thinking, are critical to the ecosystem in which the product works. The way that marketers approach the marketing planning process depends on their market orientations.

Learn more about  marketing from

brainly.com/question/25754149

#SPJ4

Marcel wants to open a car wash after graduating from high school. For several days, he observed the cars being washed at a local car wash and recorded the following information: Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 50 cars 45 cars 48 cars 26 cars 47 cars 55 cars What is the average number of cars washed each day? If the car wash were open only five days a week, how many cars might be washed per year? (Hint: There are 52 weeks in a year.)

Answers

The average number of cars washed each day is 45 cars and the total number of cars washed in a year is 11,700.

What is mean?

In statistics, in addition to the mode and median, the mean is one of the measures of central tendency. Simply put, the mean is the average of the values in the given set. It indicates that values in a particular data set are distributed equally. The three most frequently employed measures of central tendency are the mean, median, and mode. The total values provided in a datasheet must be added, and the sum must be divided by the total number of values in order to determine the mean.

Given a table for car washing each day,

Day 1      Day 2    Day 3   Day 4      Day 5    Day 6

50            45          48         26        47            55

Average for cars washed each day,

Average = sum of cars washed/number of days

 sum of cars washed = 50 + 45 + 48 +26 + 47 + 55

the sum of cars washed = 271

total days = 6

average = 271/6 = 45.1667

average car washed each day = 45

If the car wash were open only five days a week, how many cars might be washed per year,

total car washed in year = (number of days)(average car washed)(year week)

total car washed in year = 5 x 45 x 52

total car washed in year = 11,700

Hence average car washed each day is  45 and the total car washed in a year is 11,700.

Learn more about mean;

https://brainly.com/question/521501

#SPJ1

How do you connect ideas to a presentation?

Answers

The following six suggestions can assist you in engaging your audience and proving your presentation. Get upfront honest feedback. Take a quick poll. Pay attention to the tone of your voice. On each slide, use a few words at most. Display assurance during the Q&A. Continue to guide the audience.

Property tax is an ad-valorem tax levied by the local government and paid by the owner of the property on real estate. It's thought to be a regressive tax. The worth of the assets that a person owns, including land, is typically taken into account when determining taxes. The assessed tax will be used by the local government to pay for any upgrades required to the water and sewer infrastructure, as well as for law enforcement, fire protection, and other services. Reconveyance deeds are unaffected by property taxes. Tax compliance refers to both governmental activities and individual behavior in order to guarantee that taxpayers are paying the appropriate amount of tax at the appropriate time and receiving the appropriate tax allowances and tax reliefs. A tax is a required payment of any kind.

Learn more about presentation from

brainly.com/question/24653274

#SPJ4

An S corporation must possess which of the following characteristics?

a. Not more than one hundred shareholders.

b. Corporation organized in the U.S.

c. Only one class of stock.

d. All of the above are required of an S corporation.

e. None of the above are required of an S corporation.

Answers

Option D is correct. All of the above are required of an S corporation.

What Is an S Corporation (S Corp)?

An S corporation, often known as a S corporation, is a type of business entity that can transmit its taxable income, credits, deductions, and losses straight to its shareholders in accordance with the tax rules. It has some advantages over the more typical C corp because of this. A substitute for a limited liability company, the S corp is only applicable to small firms with 100 or fewer stockholders (LLC). S corporations and LLCs are both referred to be "pass-through entities" since they do not pay corporate taxes; rather, they pay their owners, who are ultimately responsible for any taxes owed. S corporations are those that have chosen to be taxed under Subchapter S of the Internal Revenue Code.

To know more about S corporation visit:                   brainly.com/question/30023108

#SPJ4

Document 7: According to the author, what aspects of life are improved under communism?

CAN SOMEBODY HELP ME:(

Answers

Communist ideology supports widespread universal social welfare.

Improvements in public health and education, provision of child care, provision of state-directed social services, and provision of social benefits will, theoretically, help to raise labor productivity and advance a society in its development.

What is social welfare?

The term "social care" does not have a precise definition. Today, social care encompasses a wide range of activities and services by volunteers, non-profit organizations and government agencies. Social care includes assistance provided to those in need; activities and resources to improve or promote the well-being of individuals, families and wider society; and broad efforts to eliminate or reduce the incidence of social problems.

To know more about social welfare, click the link given below:

https://brainly.com/question/29214791

#SPJ1

What are 4 ways to increase profit?

Answers

The 4 ways to increase profit is by preparing a budget, focusing on your profit margins, review your business's bottom line performance, and also benchmark your business's performance.

Customer relationships are considered to be the key when securing and growing profitable revenues. Here, the marketing should lead the way in developing a standard set of the relationships, while also matching the customers to relationships, and also establishing relationship migration paths.

However, when focusing on the branding and quality can thus help sustain a higher prices on sales and also tend to ensure higher profit margins which is mainly over the long term.Thus, preparing a budget is necessary.

To learn more about the budget here:

https://brainly.com/question/15399312

#SPJ4

Activities which are focused at the unit level are called

Answers

Every time a service is rendered or a product is produced, unit-level actions take place. Unit-level activities are those that are centered at the unit level.

An action that takes place each time a unit is created is referred to as a unit-level activity. Since the amount that occurs will fluctuate in direct proportion to the number of units produced, this activity is a volume-based cost driver.

Unit-level operations are related to direct resources like direct labor and direct materials.A unit-level activity is at the lowest level of the cost hierarchy inside an activity-based costing system. Following is the cost hierarchy, starting at the bottom level:Activities at the unit levelbatch-level operationsActivity-level productsactions at the customer levelactions that support an organization

Therefore, Every time a service is rendered or a product is produced, unit-level actions take place. Unit-level activities are those that are centered at the unit level.

Learn more about Unit-level activities here,

https://brainly.com/question/30901036

#SPJ12

Tano company issues bonds with a par value of $180,000 on january 1, 2021. The bonds' annual contract rate is 8%, and interest is paid semiannually on june 30 and december 31. The bonds mature in three years. The annual market rate at the date of issuance is 10%, and the bonds are sold for $170,862.

Answers

The amount of the discount on these bonds at issuance is $3,414. Discount can be meant as the discount is the difference between the face value and the sale price of the bonds, multiplied by the number of years to maturity.

The amount of the discount on these bonds at issuance can be calculated by subtracting the sale price of the bonds from the face value of the bonds, and then multiplying by the number of years to maturity. The sale price is often shown in percentage.

Discount = (Face value - Sale price) x (Number of years to maturity)

Discount = (180,000 - 170,862) x 3

Discount = $1,138 x 3 = $3,414

So the amount of the discount on these bonds at issuance is $3,414.

The complete question is.

Tano issues bonds with a par value of $180,000 on January 1, 2016. The bonds' annual contract rate is 8%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 10%, and the bonds are sold for $170,862. 1. What is the amount of the discount on these bonds at issuance?

Learn more about discount on bond issuance, https://brainly.com/question/15860570

#SPJ4

Allocation is primarily as issue in

A) Measuring Income


B) None of the other three

C) Measuring Assets
D) Both Measuring Assets and Income

Answers

Option A is the correct answer here. Allocation is specially as difficulty in  Measuring Income .

What is allocation of funds?

Allocation of Funds capability the decision of the kinds of projects or offerings to be funded and the quantity of expected funding to be available for those services or tasks for the fiscal year.

Examples of allocations

Salary – An worker that works throughout three or four major features can also have their profits allotted across these functions. Electricity – If a single production facility is used to manufacture multiple products, the electricity used will be measured through simply one meter.

An allocation is the manner of transferring overhead costs to cost objects, the use of a rational foundation of allotment. Allocations are most often used to assign fees to produced goods, which then show up in the monetary statements of a enterprise in either the value of goods bought or the inventory asset.

Learn more about allocation  here:

https://brainly.com/question/6107102#SPJ4
Other Questions
A manufacturer makes ball bearings out of motel steel. it takes 5.24 cubic centimeters of molten steel to make ball bearings that each have a diameter of 1 centimeter Kindly solve this please!Diagram for both the questions are given. 9514 1404 393 answer: less expensive step-by-step explanation: if we assume the supplies in nearland have a constant price of 15 nrd, then the cost in usd last year was ... (15 nrd)/(3 nrd/(1 usd)) = 5 usd this year, the cost is ... (15 nrd)/(5 nrd/(1 usd)) = 3 usd the cost in terms of usd has gone down. __ additional comments usually, exchange rates and local prices are related. if the supplies are produced in the us and sold in nearland, the producer may want to maintain their pricing in terms of usd. that is, a supply that cost 1 usd last year would have been priced at 3 nrd last year. this year, the same supply, for the same 1 usd cost would be priced at 5 nrd. in nearland, the supplies are more expensive than they were. the real answer is, "it depends". A student is given a box containing ten similar plastic drinking straws, a 30 cm ruler and two set-squares. (a) Explain how the student determines an average value for the external diameter of the straws using this apparatus. Draw a diagram to illustrate your answer. Confucius's ideal society would live according to the ideals of the:_______A. Five great relationships. B. Four noble truths. C. Seven sacraments. D. Five k's Question 22 (Essay Worth 8 points)(03.07 MC)Describe the properties of carbon that makes it possible for millions of carbon compounds to occur naturally.X5Source CG9 Adding and Subtracting FunctionsF(x)=x^2+4G(x)=x-1Find (g+f)(x) 65 POINTS+BRAINLIEST 8TH GRADE HISTORY: Did the 14th amendment make it so that the states had to follow the bill of rights when making legislative decisions? The ____________ layer of the osi model is responsible for data format translation Neurons in the LGN have __________ receptive fields. center-surround side-by-side columnar ill-defined ambiguous Michael starts a new paper company. The function fff models the company's net worth (in thousands of dollars) as a function of time (in months) after Michael starts it. Each fall, where i live, the tree leaves turn beautiful colors of red, yellow, orange and purple. why does that happen? A DVD player costs $96.34, with sales tax included. What is the original price of the DVD player if the sales tax rate is 8.25%? The Michener Corporation is trying to choose between the following two mutually exclusive design projects: 63000 Wernicke-korsakoff syndrome is associated with the decreased absorption and utilization of:______ a. protein. b. glucose. c. thiamin. d. riboflavin. Patients in an obstetricians office include both pregnant women and women with fertility problems. Why is it important to be sensitive to women who are struggling with infertility, as well as women who may have recently had a miscarriage? How long do you need to invest your money in an account earning an annual interest rate of 4.252% compounded monthly so that your investment grows from $1,018.40 to $10,413.00 over that period of time? Question 5 of 10Identify an equation in slope-intercept form for the line parallel to y = 5x + 2that passes through (-6, -1).A. y = 5x + 29B. y = -5x - 11C. y = x +OD. y = 5x - 29SUMIT find the product of 3.05 and 0.07 What mass of Ni2+ is produced in solution by passing a current of 67.0 A period od 14.0 h, assuming the cell is 86.0 % efficient?