peer Flour Mills purchased new equipment and made the following expenditures: Purchase price Sales tax Shipment of equipment Insurance on the equipment for the first year Installation of equipment quired: termine the financial statement effects of the above expenditures for the new equipment. All expenditures were paid in cash. ste: Amounts to be deducted should be indicated by a minus sign. Assets Balance Sheet $ 61,000 5,300 860 560 1,720 Liabilities Stockholders' Equity Common Retained Stock Earnings Revenues Income Statement Expenses

Q: If the company sells produces and sells 3,000 baskets how much operating income will they make A)…

A: Direct material rate per unit = $16,000/2000 = $8 per unit Direct Labour rate per unit =…

Q: What is Glass-Steagall Act?

A: Glass-Steagall Act splits up the investment and commercial banking segments of an investment bank.

Q: Are these written in your own words?

A: Yes the answer is writtern in own words. Please find a alternate answer below

Q: Examples of  CIRO and PIRO

A: Example of CIRO: A note book valued at $5 CAD is being transported through courier would be exempt…

Q: What is BATNA?

A:

Q: Explain the benefits of postretirement.

A: Post-retirement benefits may include life insurance  and medical plans, or premiums for such…

Q: Give the meaning of Trust.

A: Beneficiary/ Fiduciary Trustee  A trust has a beneficiary and a trustee. The individual who is the…

Q: Illustrate the Guidelines for Selecting a MARR?

A: It places a base gainfulness prerequisite on the discount rate, or MARR, which a venture or…

Q: Define each of the following terms:f. White knight; proxy fight

A: A white knight is hostile acquisition security by which a 'friendliness' person or business who…

Q: 35. If the company produces and sells 2,000 baskets how much will their cost of goods sold be?…

A: Workings: Calculation of variable cost per unit: Total baskets produced = 2000 direct materials cost…

Q: Whatisthedifferencebetweensimpleinterestandcompoundinterest?

A: Interest: Interest is the amount of interest paid on the issue price of the notes by the issuer at…

Q: count ROCE

A: ROCE stands for Return on Capital Employed.

Q: a. Prepare a common-sized income statement comparing the results of operations for Sorenson…

A: Common size income statement is used for vertical analysis wherein each item in the income statement…

Q: two questions

A: Prepare an income statement.

Q: Egyghh gyu

A: Hope it helps :)

Q: Describe about the deferrals? Explain it in detail.

A:

Q: Define Ethics.

A: Ethics are a set of moral principles they affect how people in a society make decisions and how…

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.