In financial statements prepared on the income-tax basis, how should the nondeductible portion of expenses, such as meals and entertainment, be
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Ответ:
Expense(s) category
Explanation:
Expenses such as entertainment and meals are meant to be included in the expense category of the financial statements even when these expenses are not deductible for tax purposes. This is beacuse the meals and entertainment are business expenses and as such should be included in the financial statements as every expense is important in proper income calculation.
Cheers.
Ответ:
Instructions are listed below.
Explanation:
Giving the following information:
Currently, the unit selling price of a product is $125, the unit variable cost is $105, and the total fixed costs are $460,000. A proposal is being evaluated to increase the unit selling price to $130.
Break-even point= fixed costs/ contribution margin
A) Break-even point= 460,000/(125-105)= 23,000 units
B) Break-even point= 460,000/ (130 - 105)= 18,400 units