Sherman Corporation had January 1 and December 31 balances as follows. 1/1/20 12/31/20 Inventory $111,000 $128,000 Accounts payable 70,000 77,000 For 2020, cost of goods sold was $278,000. Compute Sherman’s 2020 cash payments to suppliers.

Morgana company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $168,000, $315,900, an $97,200, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,100, machine hours 24,300, and number of inspections 1,800. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to

Kevin and jenny, who are both working full-time, have three children all under the age of ten. the two youngest children, who are three and five years old, attended eastside pre-school for a total cost of $3,000. ervin, who is nine, attended big kid daycare after school at a cost of $2,000. jenny has earned income of $15,000 and kevin earns $14,000. what amount of childcare expenses should be used to determine the child and dependent care credit?