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Which accounts are totaled to determine net income before federal income tax acounting?
Net income before federal income tax is calculated by totaling revenues and gains, then subtracting expenses and losses. This includes operating revenues, non-operating revenues, and any extraordinary gains. From this total, all operating expenses, cost of goods sold, interest expenses, and other relevant expenses are deducted. The resulting figure reflects the company's profitability before accounting for federal income taxes.
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When the sales journal's column for accounts receivable and sales is totaled at the end of the month its total is debited where?
At the end of the month, the total of the accounts receivable column from the sales journal is debited to the Accounts Receivable account in the general ledger. Simultaneously, the total of the sales column is credited to the Sales Revenue account. This process ensures that the accounting records reflect the sales made on credit and the corresponding increase in receivables.
Dustin had five outstanding checks that totaled 117.54. What should his check register balance be if he had an ending balance of 599.43 and outstanding deposits that totaled 235.14?
717.03
How do you enter a cash receipts journal?
On June 1, the cash account balance was $17,200. During June, cash payments totaled $178,300, and the June 30 balance was $23,900. Determine the cash receipts during June.
What is the total consumer debt in America equals?
The Federal Reserve statistics combined with other agency data totaled consumer debt from credit card, mortgages and student loads at $11.68 trillion. This figure is from data compiled in April 2014.
Harrison had an ending checkbook balance of 235.58 and outstanding deposits that totaled 213.12?
$448.70
How do you determine if vehicle is totaled when burned?
A vehicle is totaled if it cost too much to repair it. Usually, insurance companies determine whether or not a vehicle is totaled.
When the sales jounal's column for accounts receivable and sales is totaled at the end of the month its total is posted where?
revenue
What percent does foremost insurance use to determine if a motorcycle is totaled?
70% of the value
How do you determine a cars value after an accident in which the adjuster says is totaled?
Ask a salvage yard what they will pay for it.
What formula is used to determine if a vehicle is a total loss?
Insurance companies will determine that your car is totaled if the cost of the damage approaches or exceeds the car
How do you determine if a vehicle is totaled?
If the repairs of the vehicle exceed the value of the vehicle, then the vehicle is declared total loss.
How many people died during the battle f Nashville?
Federal casualties in the Battle of Nashville totaled 387 killed, 2,562 wounded, and 112 missing. Confederate casualties are difficult to determine. It is estimated that 2,500 Confederates were killed and wounded at Nashville.
Is a vehicle totaled if the air bag is deployed?
A vehicle is not automatically considered totaled simply because the airbag has deployed. Whether a vehicle is deemed totaled depends on the cost of repairs relative to its market value; if the repair costs exceed a certain percentage of the vehicle's worth, it may be classified as totaled. Deployment of the airbag often indicates significant impact, which can lead to extensive damage, but a full assessment is necessary to determine the vehicle's status.
How extensive does the damage have to be to determine a car totaled?
In most cases the cost of repair for a damaged car has to be greater than 25% of the value of the car.
What formula is used to determine if a vehicle is a total loss in Texas?
If the cost to repair is more than the vehicle is worth to replace then it is considered totaled.
Does state farm insurance use the trade in value or the retail value of a car to determine the value of a car if totaled?
They use a market value guide.
What happens to a car that's declared totaled by the insurance company?
If you want to keep a totaled car, the insurance company will determine the salvage value and deduct that from your settlement check. You can still get liability insurance (if there are no safety issues related to the damage), but not collision or comprehensive unless you have the repairs made.
