User Account

All Pages

What total amount of the expenses should be reported

Assignment Help Accounting Basics
Reference no: EM133188918

Question - Kew Company leases and operates a retail store. The following information relates to the lease for the current year; The store lease, an operating lease, calls for a base monthly rent of 15,000 on the first day of each month. Additional rent is computed at 6% net sales over 3,000,000 up to 6,000,000 and 5% net sales over 6,000,000 per calendar year. Net sales for the current year amounted to 9,000,000. The entity paid executor costs to the lessor for property taxes of 120,000 and insurance of 50,000. What total amount of the expenses should be reported for the year?

Reference no: EM133188918

Questions Cloud

Compute the total amount of expenses resulting : Compute the total amount of expenses resulting from the transactions that would appear on Grouper's income statement for the year ended December 31, 2020
Describe office management tools common to medical office : Describe how each tool contribute to the successful operations of your facility, office management tools include policy
What is balance in the allowance for doubtful debts account : What is the balance in the Allowance for Doubtful Debts account and the Bad Debts Recovered account. Record the transactions in general journal form
Does the partnership business pay income tax : Does the partnership business pay income tax or is each partner taxed individually on their share of the profit or income derived from the business
What total amount of the expenses should be reported : The entity paid executor costs to the lessor for property taxes of 120,000 and insurance of 50,000. What total amount of the expenses should be reported
Prepare the journal entries : Transaction 2 - MQE Ltd has a development costs account in their Balance sheet as at the 30 June 2022 of $50,000. Prepare the journal entries
Identify the nature of the transaction or event : MQE Ltd's accounts receivable balance as at 30 June 2022 was recorded at $3.487 million. Identify the nature of the transaction/event
What types of commerce will fit a daycare facility business : Discuss how you'll go about creating a web and/or mobile presence
What is the net present value of the project : The expected life of the project and the equipment men is three years and the equipment has zero salvage value. What is the net present value of the project

Reviews

Write a Review

Accounting Basics Questions & Answers

  Blanton corporation purchased 35 of the outstanding shares

blanton corporation purchased 35 of the outstanding shares of common stock of worton corporation as a long-term

  What adjustment should be made to record expired insurance

The $3000 was debited from the Prepaid Insurance account. What adjustment should be made to record expired insurance on the firm's July 31, 2010

  What is the monthly break even point in units sold and in

pringle company distributes a single product. the companys sales and expenses for a recent month follow sales-40per

  Discuss fraud examiners manual analyze the case

Prepare an engagement letter (you may use and/or modify any samples you find in the Appendices of the Fraud Examiner's Manual as a starting point)

  What would be the impact of the donor request

What would be the impact of the donor request on the financial statements and on availability for expenditure of cash or other organization assets?

  Prepare net worth analysis of Slick girlfriend

Steve (Slick) Willy, 45, just got out of jail. As a reformed citizen on parole, Slick decides to go into business for himself. Prepare net worth analysis

  Prepare general journal entry to record the monthly payroll

Of the total earnings, $31,118.46 was for sales salaries and $8,281.54 was for office salaries. Prepare a general journal entry to record the monthly payroll

  Xyz establish a central warehouse

XYZ company manufactures toys in three different countries: S1, S2 and S3. It sells these toys in four countries: A, B, C and D. The following table shows the total requirement for each type of toy by country of manufacture:

  Prepare the entry to record the depreciation

Depreciation has been entered for 7 years on a straight line basis. Prepare the entry to record the depreciation for 2013

  The cost of the annuity was 46800 and cecil was expected to

cecil c. seymour is a 64-year-old widower. he had income for 2013 as followspension from former

  Prepare the company financial half of its income statement

For a maturity mix of 60% current and 40% long-term debt, prepare the company's financial half of its income statement

  Explain what is diluted EPS

At the beginning of the period Compaq Ltd has 900 000 fully paid-up ordinary shares on issue. Explain what is diluted EPS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd