The accounting records of Monty Inc. show the following data for 2020 (its first year of operations). 1. Life insurance expense on officers was $8,600. 2. Equipment was acquired in early January for $304,000. Straight-line depreciation over a 5-year life is used, with no salvage value. For tax purposes, Monty used a 30% rate to calculate depreciation. 3. Interest revenue on State of New York bonds totaled $3,800. 4. Product warranties were estimated to be $49,900 in 2020. Actual repair and labor costs related to the warranties in 2020 were $9,300. The remainder is estimated to be paid evenly in 2021 and 2022. 5. Gross profit on an accrual basis was $108,000. For tax purposes, $75,900 was recorded on the installment-sales method. 6. Fines incurred for pollution violations were $4,000. 7. Pretax financial income was $793,600. The tax rate is 30%. Prepare a schedule starting with pretax financial income in 2020 and ending with taxable income in 2020.

Spirula trading inc sublets a part of its offices building to jade inc. for a period of ten years . where will the company disclose this information?

What two elements normally must exist before a person can be held liable for a crime

The cutting department of cassel company has the following production and cost data for july. production costs 1. transferred out 12,300 units. beginning work in process $0 2. started 3,900 units that are 60% materials 62,856 complete as to conversion labor 12,622 costs and 100% complete as manufacturing overhead 23,100 to materials at july 31. materials are entered at the beginning of the process. conversion costs are incurred uniformly during the process. determine the equivalent units of production for (1) materials and (2) conversion costs. materials conversion costs total equivalent units of production link to text link to text compute unit costs. (round unit costs to 2 decimal places, e.g. 2.25.) materials $ conversion costs $ link to text link to text prepare a cost reconciliation schedule. (round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.) cost reconciliation costs accounted for transferred out $ work in process, july 31 materials $ conversion costs total costs $