Answer:
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Answer:
An office personal is a private office space. So having a private office you have more privacy, and this can result in higher productivity if your work requires full concentration.
Goodwell will recognize 3 months (Oct 1 - Dec 31) of rent revenue earned, and will reduce (debit) the unearned rent revenue for those 3 months.
2,500 x 3 months = 7,500
Journal Entry, Dec 31:
Unearned Rent Revenue: 7,500
Rent Revenue: 7,500
The new Unearned Rent Revenue Account balance will be:
12,500 - 7,500 = 5,000
Answer:
Ending inventory= $5,592.45
Explanation:
Giving the following information:
Mar. 1: Beginning inventory= 1,090 units at $7.25
Mar. 10: Purchase: 510 units at $7.75
Mar. 16: Purchase: 397 units at $8.35
Mar. 23: Purchase: 510 units at $9.05
First, we need to calculate the number of units in ending inventory:
Ending inventory in units= total units - units sold
Ending inventory in units= 2,507 - 1,880= 627
Under FIFO (first-in, first-out), the ending inventory is composed of the cost of the last units bought.
Ending inventory= 510*9.05 + 117*8.35= $5,592.45
Integrated is a close corporation.
<h3>What is corporation?</h3>
- A corporation is a collection of people or a business that has been given legal status as a single entity by the state and is used for specific legal purposes.
- Early corporations were created with a charter. The majority of governments currently permit the registration of new corporations.
- There are four main forms of corporations: sole proprietorships, Limited Liability Companies (LLCs), S-Corporations (S-Corps), and C-Corporations (C-Corp).
- Examples of corporations are Apple Inc., Walmart Inc., and Microsoft Corporation.
<h3>What is a close corporation?</h3>
- A close corporation is a business that has fewer shareholders than the statutory limit and is not a public company.
- The maximum number of shareholders is typically 35, though this varies according on the state's corporate regulations.
Learn more about corporation here:
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