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lilyrockstarmag
17.03.2020 •
Business
On March 15, 20X9, Clarion Company paid property taxes of $60,000 on its factory building for calendar year 20X9. On July 1, 20X9, Clarion made $40,000 in unanticipated repairs to its machinery. The repairs will benefit operations for the remainder of the calendar year. What total amount of these expenses should be included in Clarion's quarterly income statement for the three months ended September 30, 20X9
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Ответ:
$ 10,000
Explanation:
On July 1, 20X9, Clarion made $40,000 in unanticipated repairs to its machinery.
Clarion's quarterly Income Statement
For the three months ended September 30, 20X9
Repairs = ($ 40,000/12 ) * 3= $ 10,000
We divide the repairs expense amount into equal 4 quarters amounts as the quarterly income statement is being prepared.
The property tax is not taken into account as it is the tax of the building and has nothing to do with the machinery.
Ответ:
D. 689. 42
Explanation:
The equation to calculate the total including the initial principal plus interest is
, where the following is true:
A= Total (principal plus interest)
P= Principal ($500)
R= Rate (5.5% in decimals = 0.055)
n= Compound (Annually -- 1 year)
t= Time in years (6 years)