Questions
Protrade Corporation acquired 70 percent of the outstanding voting stock of Seacraft Company on January 1,...

Protrade Corporation acquired 70 percent of the outstanding voting stock of Seacraft Company on January 1, 2017, for $367,500 in cash and other consideration. At the acquisition date, Protrade assessed Seacraft's identifiable assets and liabilities at a collective net fair value of $565,000 and the fair value of the 30 percent noncontrolling interest was $157,500. No excess fair value over book value amortization accompanied the acquisition.

The following selected account balances are from the individual financial records of these two companies as of December 31, 2018:

Protrade Seacraft
Sales        680,000     400,000
Cost of Goods Sold        310,000     217,000
Operating Expenses        154,000     109,000
Retained Earnings, 1/1/18        780,000     220,000
Inventory        350,000     114,000
Buildings (net)        362,000     161,000
Investement Income not given -  

Each of the following problems is an independent situation:

(A) Assume that Protrade sells Seacraft inventory at a markup equal to 60 percent of cost. Intra-entity transfers were $94,000 in 2017 and $114,000 in 2018. Of this inventory, Seacraft retained and then sold $32,000 of the 2017 transfers in 2018 and held $46,000 of the 2018 transfers until 2019. Determine balances for the following items that would appear on consolidated financial statements for 2018:

(B) Assume that Seacraft sells inventory to Protrade at a markup equal to 60 percent of cost. Intra-entity transfers were $54,000 in 2017 and $84,000 in 2018. Of this inventory, $25,000 of the 2017 transfers were retained and then sold by Protrade in 2018, whereas $39,000 of the 2018 transfers were held until 2019. Determine balances for the following items that would appear on consolidated financial statements for 2018:

(C) Protrade sells Seacraft a building on January 1, 2017, for $88,000, although its book value was only $54,000 on this date. The building had a five-year remaining life and was to be depreciated using the straight-line method with no salvage value. Determine balances for the following items that would appear on consolidated financial statements for 2018:

a. Cost of goods sold
Inventory
Net income attributable to noncontrolling interest
b. Cost of goods sold
Inventory
Net income attributable to noncontrolling interest
c. Buildings (net)
Operating expenses
Net income attributable to noncontrolling interest

In: Accounting

Northridge LLC Trial Balance April 30, 20XX Debit Credit Cash $58,791 Accounts receivable 18,495 Merchandise inventory...

Northridge LLC Trial Balance April 30, 20XX Debit Credit Cash $58,791 Accounts receivable 18,495 Merchandise inventory 85,221 Office Supplies 2250 Store Supplies' 885 Prepaid Insurance 1659 Office equipment 2500 Accumulated depreciation-Office Equipment $658 Store equipment 16580 Accumulated depreciation-Store Equipment 2,268 Accounts Payable 50921 J. Spark, Capital 132,534 Totals $186,381 $186,381 Using the information from the Excel workbook from Week 3’s submission, complete a worksheet using the following information for accounting adjustments. Complete the columns for the below adjusting entries, income statement, and balance sheet. Also, record the required closing entries. Add any lines as necessary. 1. Expired insurance, $553. 2. Ending store supplies inventory, $2,632. 3. Ending office supplies inventory, $504. 4. Depreciation of store equipment, $567. 5. Depreciation of office equipment, $329..

Need help completing T accounts and worksheet. I completed the General Journal Entries.  

MY GENERAL JOURNAL ENTRIES

GENERAL JOURNAL
      Date      Account Titles and Explanation Debit Credit
May 1 Rent Expense- Selling Space 2968
Rent Expense- Office Space 742
Cash 3710
Paid May's rent
May 2 Accounts Receivable- Hensel 6100
Sales Revenue 6100
Cost of Goods Sold 4100
Inventory 4100
Merchandise Sales on credit
A18:I92May 2 Sales Returns and allowances 175
Accounts Receivable 175
Defective product return
May 3 Accounts Payable 798
Merchandise Inventory 798
Return on merchandise
May 4 Merchandise Inventory 37072
Store Supplies 574
Office Supplies 83
Accounts Payable 37729
Purchased Supplies on credit
May 5 Cash 4459
Sales Discount 91
Accounts Receivable 4550
Payment received for April 28 sale
May 8 Accounts Payable 6300
Merchandise Inventory 126
Cash 6174
Payment to Peyton Product less discount
May 9 Cash 350
Store Supplies 350
Sold Supplies
May 10 Office Equipment 4074
Accounts Payable 4074
Purchased equipment on credit
May 11 Cash 5978
Sales Discount 122
Accounts Receivable 6100
Payment Received from Hensel Company
May 11 Merchandise Inventory 8800
Accounts Payable 8800
Purchased Merchandise from Garcia Inc
May 12 Accounts Payable 854
Office Equipment 854
Returned defective equipment
May 15 Sales Salaries 5320
Office Salaries 3150
Cash 8470
Check 3412 used to pay employees
May 15 Cash 59220
Sales 59220
Merchandise sold for cash
Cost of Goods Sold 38200
Merchandise Inventory 38200
To record cost of goods sold
May 16 Accounts Receivable 3990
Sales 3990
Sold merchandise on credit to Hensel Company
May 16 Cost of Goods Sold 1890
Merchandise Inventory 1890
Record Cost of Goods Sold first half
May 17 Merchandise Inventory 13650
Accounts Payable 13650
Purcased Merchandise From Fink Corp
May 19 Account Payable 8800
Merchadise Inventory 176
Cash 8624
Paid outstanding bill less discount
May 22 Accounts Receivable 6850
Sales 6850
Sold Merchandise to Lee Services
May 23 Accounts Payable 13650
Merchadise Inventory 273
Cash 13377
Paid outstanding bill less discount
May 24 Merchandise Inventory 8120
Store Supplies 630
Office Supplies 280
Accounts Payable 9030
Purchased Items on credit
May 25 Merchandise Inventory 3080
Accounts Payable 3080
Purchased merchandise from Peyton Products
May 26 Accounts Receivable 14210
Sales 14210
Sold Items on credit to Crane Corp
May 26 Cost of Goods Sold 8230
Merchandise Inventory 8230
Record cost of goods sold
Utilities Expense 1283
Cash 1283
Paid Perennial Power
May 29 Jenni Colo Withdrawals 7000
Cash 7000
Record cash withdrawal check 3416
May 30 Cash 6713
Sales discount 137
Accounts Receivable 6850
Received Payments from Lee Services
May 30 Sales Salaries Expense 5320
Office Salaries Expense 3150
Cash 8470
Check 3417 Used to pay employees
May 31 Cash 66052
Sales 66052
Sold Merchandise for cash last half
May 31 Cost of Goods Sold 42500
Merchandise Inventory 42500
record cost of goods last half
May 31 Insurance Expense 553
Prepaid Insurance 553
Insurance Adjustment
May 31 Store Supplies Expense 2632
Store Supplies 2632
Store Supplies Adjustment
May 31 Office Supplies Expense 504
Office Supplies 504
Office Supplies Adjustment
May 31 Depreciation Expense- Store Equipment 567
Accumulated Depreciation-Store Equipment 567
Adjustmentfor Depreciation on Store Equipment
May 31 Depreciation Expense- Office Equipment 329
Accumulated Depreciation-Office Equipment 329
Adjustment for Depreciation on Office Equipment

T ACCOUNTS

CASH Accounts Receivable Merchandise Inventory Store Supplies
Prepaid Insurance Office Equipment Accumulated Depreciation - Office Equip. Store Equipment
Accounts Payable J. Spark, Capital J. Spark, Withdrawals Sales Revenue
Sales Discounts Cost of Goods Sold Depreciation Expense Store Supplies Expense
Insurance Expense Rent expense -Selling space Rent expense -Office space Salaries expense- Sales
WORKSHEET

   

Company Name
Work Sheet
For Month Ended Date, Year
Balance Sheet &
     Unadjusted        Adjusted     Statement of
     Trial Balance      Adjustments      Trial Balance Income Statement     Owner's Equity
   Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash
Accounts receivable
Merchandise inventory
Store supplies                                
Office supplies                               
Prepaid insurance                          
Office equipment
Accumulated depreciation-Office Equipment
Store Equipment
Accumulated depreciation-Store Equipment
Accounts payable
J. Spark, Capital
J. Spark, Withdrawls
Sales revenue
Sales returns and allowances
Sales discounts
Cost of Goods Sold
Depreciation expense - Office Equipment
Depreciation expense - Store Equipment
Store supplies expense                   
Office supplies expense                  
Insurance expense                         
Rent expense -Selling space
Rent expense -Office space
Salaries expense- Sales
Salaries expense- Office
Utilities expense - Electric

In: Accounting

Good Note Company specializes in the repair of music equipment and is owned and operated by...

Good Note Company specializes in the repair of music equipment and is owned and operated by Robin Stahl. On November 30, 2019, the end of the current year, the accountant for Good Note prepared the following trial balances:
Good Note Company
Trial Balance
November 30, 2019
Unadjusted Adjusted
Debit
Balances Credit
Balances Debit
Balances Credit
Balances
Cash 31,080 31,080
Accounts Receivable 89,040 89,040
Supplies 9,240 2,860
Prepaid Insurance 11,760 2,230
Equipment 421,100 421,100
Accumulated Depreciation—Equipment 76,860 86,850
Automobiles 93,240 93,240
Accumulated Depreciation—Automobiles 44,520 46,750
Accounts Payable 20,160 20,970
Salaries Payable — 6,300
Unearned Service Fees 14,700 5,100
Robin Stahl, Capital 449,000 449,000
Robin Stahl, Drawing 60,900 60,900
Service Fees Earned 599,990 609,590
Salary Expense 419,990 426,290
Rent Expense 43,680 43,680
Supplies Expense — 6,380
Depreciation Expense—Equipment — 9,990
Depreciation Expense—Automobiles — 2,230
Utilities Expense 10,500 11,310
Taxes Expense 6,720 6,720
Insurance Expense — 9,530
Miscellaneous Expense 7,980 7,980
1,205,230 1,205,230 1,224,560 1,224,560
Required:
Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry.
2019 Nov.30
Supplies Expense
Supplies

30
Insurance Expense
Prepaid Insurance

30
Depreciation Expense - Equipment
Accumulated Depreciation - Equipment

30
Depreciation Expense - Automobiles
Accumulated Depreciation - Automobiles

30
Utilities Expense
Accounts Payable

30
Salary Expense
Salaries Payable

30
Unearned Service Fees
Service Fees Earned

Check My Work2 more Check My Work uses remaining.

In: Accounting

Prepare Statement of cash flows for Travel Products Inc. for year ended December 31,2014 using the...

Prepare Statement of cash flows for Travel Products Inc. for year ended December 31,2014 using the indirect method.
Service revenue.......$235,000
Dividend revenue.....8,200
Total revenues.......$243,000
Expenses:
Cost of goods sold $103,000
Salary expense $58,000
Depreciation expense $21,000
Advertising expense 2,900
Interest expense $3,300
Income tax expense $6,000
Total expenses 194,200

Net Income $49,000

Additional Data

Aquisition of plant assets was $125,000. Of this amount 75,000 was paid in cash and $50,000 by signing a note payable.
Proceeds from sale of land totaled $39,000.
Proceeds from issuance of common stock totaled $47,000.
Payment of long-term note payable was $15,000.
Payment of Dividends was $9,000.
From the balance sheets:
December 31,2014
Current assets:
Cash $80,000
Accounts receivable $40,000
Inventory 48,000
Prepaid Expenses 9,300
Current Liabilities:
Accounts payable $33,000
Accrued liabilities $4,000

December 31,2013

Current assets $4,000
Accounts receivable $55,000
Inventory 59,000
Prepaid expenses $8,300

Current Liabilities:
Accounts payable $19,000
Accrued Liabilities $24,000

In: Accounting

A firm is considering replacing the existing industrial air conditioning unit. They will pick one of...

A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,930.00 to install, $5,106.00 to operate per year for 7 years at which time it will be sold for $6,924.00. The second, RayCool 8, costs $41,240.00 to install, $2,200.00 to operate per year for 5 years at which time it will be sold for $9,047.00. The firm’s cost of capital is 5.28%. What is the equivalent annual cost of the AC360? Assume that there are no taxes.

In: Accounting

Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in...

Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March.

March 1 Brooks invested $155,000 cash along with $21,000 n office equipment in the company in exchange for common stock.
2 The company prepaid $9,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $9,000.)
3 The company made credit purchases of office equipment for $2,600 and office supplies for $1,600. Payment is due within 10 days.
6 The company completed services for a client and immediately received $5,500 cash.
9 The company completed a $7,400 project for a client, who must pay within 30 days.
12 The company paid $4,200 cash to settle the account payable created on March 3.
19 The company paid $6,000 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $6,000.)
22 The company received $3,500 cash as partial payment for the work completed on March 9.
25 The company completed work for another client for $5,290 on credit.
29 The company paid $5,700 cash in dividends.
30 The company purchased $1,200 of additional office supplies on credit.
31 The company paid $900 cash for this month's utility bill.



Required:
1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Common Stock (307); Dividends (319); Services Revenue (403); and Utilities Expense (690).
2. Post the journal entries from part 1 to the ledger accounts.
3. Prepare a trial balance as of the end of March.

In: Accounting

E4-31B. (Learning Objective 4: Evaluate internal controls over cash receipts and cash payments) Rally Stores use...

E4-31B. (Learning Objective 4: Evaluate internal controls over cash receipts and cash payments) Rally Stores use point-of-sale terminals as cash registers. The register shows the amount of each sale, the cash received from the customer, and any change returned to the customer. The machine also produces a customer receipt but keeps no record of transactions. At the end of the day, the clerk counts the cash in the register and gives it to the cashier for deposit in the company bank account. Write a memo to convince the store manager that there is an internal control weakness over cash receipts. Identify the weakness that gives an employee the best opportunity to steal cash, and state how to prevent such a theft

In: Accounting

E4-25B. (Learning Objectives 1, 2: Describe fraud and its impact; Explain the objectives and components of...

E4-25B. (Learning Objectives 1, 2: Describe fraud and its impact; Explain the objectives and components of internal control) Identify the internal control weakness in the following situations. State how the person can hurt the company. a. Mandy Morrison works as a security guard at POST parking in Oklahoma City.
Morrison has a master key to the cash box where customers pay for parking. Each night Morrison prepares the cash report that shows

(a) the number of cars that parked on the lot and

(b) the day’s cash receipts. Judy Gibson, the POST treasurer, checks Morrison’s figures by multiplying the number of cars by the parking fee per car. Gibson the deposits the cash in the bank

. b. Sophie Peterson is the purchasing agent for Pinkerton Sports Equipment. Peterson
prepares purchase orders based on requests from division managers of the company.
Peterson faxes the purchase order to suppliers, who then ship the goods to Pinkerton. Peterson receives each incoming shipment and checks it for agreement with the purchase order and the related invoice. She then routes the goods to the respective division managers and sends the receiving report and the invoice to the accounting department for payment.

In: Accounting

Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South...

Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $103,500 of manufacturing overhead for an estimated activity level of $45,000 direct labor dollars. At the beginning of the year, the inventory balances were as follows: Raw materials $ 10,000 Work in process $ 4,200 Finished goods $ 8,100 During the year, the following transactions were completed: Raw materials purchased for cash, $ 168,000. Raw materials used in production, $145,000 (materials costing $124,000 were charged directly to jobs; the remaining materials were indirect). Cash paid to employees as follows: Direct labor $ 175,000 Indirect labor $ 324,900 Sales commissions $ 20,000 Administrative salaries $ 40,000 Cash paid for rent during the year was $18,800 ($13,300 of this amount related to factory operations, and the remainder related to selling and administrative activities). Cash paid for utility costs in the factory, $15,000. Cash paid for advertising, $11,000. Depreciation recorded on equipment, $21,000. ($15,000 of this amount related to equipment used in factory operations; the remaining $6,000 related to equipment used in selling and administrative activities.) Manufacturing overhead cost was applied to jobs, $ ? . Goods that had cost $228,000 to manufacture according to their job cost sheets were completed. Sales for the year (all paid in cash) totaled $505,000. The total cost to manufacture these goods according to their job cost sheets was $220,000. Required: 1. Prepare journal entries to record the transactions for the year. 2. Prepare T-accounts for each inventory account, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your journal entries to these T-accounts (don’t forget to enter the beginning balances in your inventory accounts). 3A. Is Manufacturing Overhead underapplied or overapplied for the year? 3B. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4. Prepare an income statement for the year. All of the information needed for the income statement is available in the journal entries and T-accounts you have prepared.

In: Accounting

Consider the following information from Manufacturing Inc., then see the instructions that follow. Manufacturing Inc. manufactures...

Consider the following information from Manufacturing Inc., then see the instructions that
follow.
Manufacturing Inc. manufactures plastic thing-a-majigs. Materials are added at the beginning
of the production process and conversion costs are incurred uniformly. Production and cost
data for the month of June, 2016 are as follows.
Production data Units Percent Complete
Work in process units, June 1 2,600 61%
Units started into production 6,285
Work in process units, June 30 3,000 38%
Cost data
Work in process, June 1
   Materials $7,250
   Coversion costs 6,050 $13,300
Direct materials 23,600
Direct labor 15,850
Manufacturing overhead 12,750
Instructions:
Prepare a production cost report for the month of June, making sure to show equivalent
units of production for materials and conversion costs, unit costs of production for materials
and conversion costs, and the assignment of costs to units transferred out and in process at
the end of June. I HAVE THE LAYOUT POSTED BUT JUST NEED THE NUMBERS FILLED IN!!!
THIS ASSIGNMENT MUST BE COMPLETED IN EXCEL. You should develop an efficient and
customizable production cost report, using formulas whenever possible instead of keyed in

values. No numeric values except the ones shown above should need to be keyed in. I HAVE THE LAYOUT POsTED UNDERNEATH AND JUST NEED THE NUMBERS FILLED IN!!!!

MANUFACTORING INC.
Production Cost Report
For the Month Ended June 30, 2016
Equivalent Units
Physical Units Materials Conversion Costs
Quantities
Units to be accounted for
Work in process, June 1
Started units into production
Total Units
Units accounted for
Transferred out
Work in process, June 30
Toal Units
Costs
Unit Costs Materials Conversion Cost Total
Total cost
Equivalent units
Unit cost [(a) / (b)]
Costs to be accounted for
Work in process, June 1
Started into production
Total costs
Cost Reconciliation Schedule
Costs accounted for
Tranferred out
Work in process, June 30
Materials
Conversion costs
Total costs

In: Accounting

Now that she is selling mixers and her customers can use credit cards to pay for...

Now that she is selling mixers and her customers can use credit cards to pay for them, Natalie is thinking of upgrading her website to include the online sale of mixers and payment by credit card. This would enable her to sell these mixers to a wider range of customers using the Internet. Natalie contacts her brother who originally prepared the website for her. He agrees to upgrade the site so it can handle credit card security issues as well as direct order entry. The cost of the upgrade is $1,800. This cost would be incurred and paid for during the month of August 2018, and the upgrade would be operational September 1, 2018. Recall that Natalie’s website had an original cost of $600 and is being amortized using the straight- line method over 24 months, starting December 1, 2017, with zero residual value. Additional costs for website maintenance and insurance are estimated to be $1,200 per year. If Natalie decides to upgrade the website, its useful life will not change and there will be no change in residual value. Instructions:

(a) Prepare the journal entry to record the upgrade.

(b) Calculate the monthly amortization expense before the upgrade and the accumulated amortization and book value on August 31, 2018.

(c) Calculate the revised monthly amortization expense as of September 1, 2018.

(d) Calculate the accumulated amortization and book value on December 31, 2018.

(e) Explain to Natalie the difference in accounting for the website upgrade costs and accounting for the costs incurred for website maintenance and insurance. In your explanation, comment on the generally accepted accounting principles that affect the accounting for these transactions.

In: Accounting

Depreciation expense Assume that Gonzalez Company purchased an asset on January 1, 2014, for $44,600. The...

Depreciation expense

Assume that Gonzalez Company purchased an asset on January 1, 2014, for $44,600. The asset had an estimated life of six years and an estimated residual value of $4,460. The company used the straight-line method to depreciate the asset. On July 1, 2016, the asset was sold for $30,645.

1. Make the journal entry to record depreciation for 2016.

2. Record the sale of the asset.

3. How does the entry affect the accounting equation?

4. How should the gain or loss on the sale of the asset be presented on the income statement?

In: Accounting

The following accounting information exists for the Aspen and Willow companies: Aspen Willow Cash $ 12,000...

The following accounting information exists for the Aspen and Willow companies:

Aspen Willow
Cash $ 12,000 $ 22,000
Wages payable 20,000 22,500
Merchandise inventory 29,805 58,400
Building 40,000 90,000
Accounts receivable 38,480 31,000
Long-term notes payable 90,000 100,000
Land 50,000 60,000
Accounts payable 38,000 45,500
Sales revenue 240,000 290,000
Expenses 190,000 230,000


Required
a-1. Determine the amount of current assets and current liabilities for each company.
a-2. Compute the current ratio for each company.
b. Assuming that all assets and liabilities are listed above, compute the debt-to-assets ratios for each company.
c-1. Determine which company has the greater financial risk in the short term.
c-2. Determine which company has the greater financial risk in the long term.

Determine the amount of current assets and current liabilities for each company.
Aspen Willow
Current assets $12,000 $22,000
Current liabilities

Compute the current ratio for each company. (Round your answers to 2 decimal places.)
Current Ratio
Aspen to 1
Willow    to 1

Assuming that all assets and liabilities are listed above, compute the debt-to-assets ratios for each company. (Round your answers to 1 decimal place.)
Debt to Assets Ratio
Aspen %
Willow %

Determine which company has the greater financial risk in the short term.
Determine which company has the greater financial risk in the short term.

Determine which company has the greater financial risk in the long term.
Determine which company has the greater financial risk in the long term.

In: Accounting

Problem 3-29 Hobby Losses (LO 3.13) Lew is a practicing CPA who decides to raise bonsai...

Problem 3-29
Hobby Losses (LO 3.13)

Lew is a practicing CPA who decides to raise bonsai as a business. Lew engages in the activity and has the following revenue and expenses:

Sales $ 5,000
Depreciation on greenhouse 10,000
Fertilizer, soil, pots 1,500

a. Select either "Yes" or "No" to indicate which of the following are factors the IRS will consider when evaluating whether the activity is a hobby.

1. Whether the activity is conducted like a business
2. The expertise of the taxpayer
3. The time and effort expended
4. Previous success of the taxpayer in different activities
5. Income and loss history from the activity
6. Losses are due to circumstances beyond the taxpayer's control or are normal in the start-up phase
7. The taxpayer changes the method of operation to improve profitability
8. The dependence on the activity for the taxpayer's income
9. Whether a future profit can be expected from the appreciation of the assets used in the activity

b. If the activity is deemed to be a regular business, what is the amount of Lew's loss from the activity?
$

c. If the activity is deemed to be a hobby, what is the amount of Lew's expenses (if any) from the activity that may be deducted?
$

In: Accounting

Questions 2: Angle Co. reported the following results for the six months ended June 30, 2019....

Questions 2: Angle Co. reported the following results for the six months ended June 30, 2019.

Income before tax $1,150,000

Income tax provision, or expense 276,000

The tax provision was based on an expected effective tax rate of 24% for the year ended December 31, 2019.

Now Angle is reporting the following results for the 3 months and 9 months ended September 30, 2019:

3-Months 9-Months

Income before tax $2,761,000 $5,711,000

The best estimate of the effective tax rate for the year is 21%.

What amount of tax expense should be recognized for the quarter (the 3 months ended September 30) and the year-to-date period (9 months ended September 30)? Be sure to explain your calculations.

In: Accounting

Subjects