For federal tax purposes, gross income from the sale of tangible goods is reduced by the seller's cost of goods sold.
Answer the following statement true (T) or false (F)
True
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________ helps employees select development activities that prepare them to meet their career goals.
A. Career management B. Policy analysis C. Training D. Job sharing E. Career path
Transportation-in is
a. an operating expense. b. part of purchases. c. added to transportation-out as part of the calculation of cost of goods sold. d. part of cost of goods purchased.
Which one of the following requires interperiod tax allocation?
A) Premium paid on key executives' life insurance B) Warranty expenses related to a three-year warranty period C) Interest received on municipal obligations D) Percentage depletion in excess of cost depletion
October November December Budgeted S&A Expenses Salary expenses10,000 10,500 11,000 Sales commissions, 5% of sales5,000 5,500 5,300 Insurance expenses2,000 2,000 2,000 Rent2,400 2,400 2,400 Depreciation on equipment1,500 1,500 1,500 Utilities1,100 1,300 1,500 Total operating expenses22,000 23,200 23,700 Schedule of Cash Payments for S&A Expenses Salary Expenses? 10,500 ? 100% of prior month sales commissions5,100 ? ? Insurance Expense2,000 2,000 2,000 Rent? ? 2,400 100% of Prior months utilities expenses1,200 ? ? Total payments foe S&A expenses? ? ? What is the total amount of S&A expenses for the fourth quarter that the company will report on its pro forma income statement?
A. $64,400 B. $23,700 C. $63,900 D. $68,900