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REG3A514
In 2022, Adam had the following capital gains and losses:
| Short-term capital loss | $5,000 |
| Short-term capital gain | $2,000 |
| Short-term capital loss carryover 2022 | $500 |
| Long-term capital gain from a property held for 2 years | $4,000 |
| Long-term capital loss from a property held for 3 years | $5,000 |
What is the total amount of loss that Adam can deduct in 2022?
BAR1A30012
The standard cost for 5,000 units of a product and 10,000 direct labor hours is as follows:
| Standard Cost Description | Standard Qty Per Unit | Standard Rate | Standard Cost |
| Direct materials | 4 pounds | @ $3 | $12 |
| Direct labor | 2 hours | @ $10 | $20 |
| Variable overhead | 2 hours | @ $8 | $16 |
| Fixed overhead | $25,000 per 5,000 units | $5 | |
| Total standard cost per unit | $53 |
The company produced 5,200 units of the product and used 21,000 pounds of direct materials at a cost of $3.10 per pound. What is the direct materials price variance?
This question has been modified.
On June 19, Don Co., a U.S. company, sold and delivered merchandise on a 30-day account to Cologne GmbH, a German corporation, for 100,000 euros. On July 19, Cologne paid Don in full. Relevant currency exchange rates were:
[table1 colalign=”left|right|right”]
; June 19; July 19;
Spot rate; $.988; $.995;
30-day forward rate; $.990; $1.000;
[/table1]
What amount should Don record on June 19 as an account receivable for its sale to Cologne?
What is the entry for buying a new truck for $500?