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Question - For accounting purpose in Income statement 2019
Opening stock: $16,088
Purchase: $426,045
Closing stock: ($22,040)
Total Cost of Good Sold: $420,093
However, the unit trust is small business entity and they apply Simplified trading stock rules for tax purpose. The difference between closing stock and opening stock is $5,952
Required - How to record the amount of cost of sale expense in the Trust tax return 2019?
an individual is considered to materially participate in an activity if any of the following tests are met with the
Shah, Inc. produces a product that has a variable cost of $6.00 per unit. The company's fixed costs are $30,000. The product sells for $10.00 a unit and the company desires to earn a $20,000 operating profit. What is the volume of sales in units r..
charles austin of the controllers office of thompson corporation was given the assignment of determining the basic and
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Duncan lives in a small town in Missouri. Because of a rare blood disease, Duncan is required to take special medical treatments once a month
On August 1, it reissued 20 of the shares at $38 per share. What is the journal entry necessary to record the repurchase of stock on June 30
Assume the following sales data for a company: Current year $862,747. What is the percentage increase in sales from the preceding year to the current year
Yoda owns and operates "The Force Company" a light sabre producing company. He is considering the introduction of a new custom light sabre that he estimates.
The Bishop Company has a balance in the warranty obligation account of $400,000. Adjusting to $600,000 will add how much to expense for the current year
A company incurred $40,000 of common fixed costs and $60,000 of common variable costs. Calculate the fixed and b) variable costs allocated to Department A
What is the maximum depreciation expense deduction for Year 2 (2017) for a passenger automobile, used 100 percent for qualified business use.
Time Warner Inc. reported short-term deferred revenue of $1,497 million and $1,731 million as of December 31, 2004 and 2003, respectively.
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