0 of 4 Questions completed
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
0 of 4 Questions answered correctly
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
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?
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:
; June 19; July 19;
Spot rate; $.988; $.995;
30-day forward rate; $.990; $1.000;
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?