Explanation:
A sole proprietor is someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic limited liability company (LLC), you are not a sole proprietor if you elect to treat the LLC as a corporation.sole proprietorship is a business that can be owned and controlled by an individual, a company or a limited liability partnership. There are no partners in the business. The legal status of a sole proprietorship can be defined as follows: It is not a separate legal entity from the business owner.
<em><u>Hope</u></em><em><u> </u></em><em><u>this</u></em><em><u> </u></em><em><u>helps</u></em><em><u> </u></em><em><u>you</u></em><em><u>!</u></em><em><u>!</u></em>
Answer:
The total cost of the departmental Work-in-Process Inventory at the end of the period = $ 8200
Explanation:
Units % of EUP
Completion D.Materials Conversion
Costs
No Of Units
Completed 1400 100 1400 1400
<u>Units In Process 400 50% 400 200 </u>
<u>Total 1800 1800 1600</u>
Ending Inventory Valuation
Working:
Direct Materials = $( 25,200/ 1800 )*400= $5600
Conversion Costs= ($ 20800/1600)*200= $2600
Total Ending Inventory Costs= $5600+$2600= $ 8200
Direct materials (1,800 at $14.00) $25,200
Direct labor 12,480
Factory overhead 8,320
Total Manufacturing Costs $ 46000
Answer:
a. Issuance of note:
Date Account title Debit Credit
XX-XX Accounts Payable $84,000
Notes Payable $84,000
b. The payment of the note at maturity, including interest. Assume a 360-day year.
Interest payment = 84,000 * 5% * 120/360
= $1,400
Date Account title Debit Credit
XX-XX Note Payable $84,000
Interest payable $1,400
Cash $85,400
Answer: (55 x 30) + 245 = 1895
Explanation:
translation from spanish to english: My family and I went to the movies and we collected for the entrance that was $ 245 if my sister gave 1/5 of the total while I gave 4/10 and my father gave the rest how much money each one contributed.
Spanish:
la parte superior es la respuesta, espero que esté bien.
english:
the top is the answer, hope it was right.
Answer:
(a) Net cash flow provided by operations for Simon Co. for the year ended December 31, 2020 is $1,580.
(b) The correct answer is Option A.
Explanation:
(a) Preparation of statement of cash flows extract
Simon Co.
Statement of Cash Flows (extract) for the Year Ended December 31, 2020
Net income $840
Add: Depreciation and amortization expense 640
Decrease in Accounts receivable 90
Increase in Income taxes payable 70
Less: Increase in Inventory 40
Decrease in Accounts payable 20
Net cash flows from operating activities $1,580
(b) The difference is mainly from timing and recognition. The cash flows from operations is a valuable tool used by investors to evaluate a company's financial strength. This section of the cash flows is regarded as the <em>cash version of net income </em>as non-cash items are added back to net income and it also considers changes in working capital, including current assets and current liabilities.
