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1 year ago

Pola and quint want to form and do business as river tours corporation. a corporation can consist of?

1 answer:

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'Pola and quint want to form and do business as river tours corporation. a corporation can consist of one or more natural persons.

A corporation is an organization (usually a group of people or a legal entity) authorized by the State to act as a single entity and legally recognized as such for a specific purpose. Early incorporated entities were established by charter. Most jurisdictions now allow the formation of new companies through registration.

The company is managed and directed by its directors and officers. Directors are appointed by shareholders and are responsible for the overall management and corporation governance of the company. The directors appoint officers who are responsible for the day-to-day management and operations of the company.

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During 2021, a company sells 500 units of inventory for $95 each. The company has the following inventory purchase transactions

Kryger [21]

Answer:

cost of goods sold = $36,285

ending inventory = $1,742

Explanation:

when you use the weighted average cost method you have to calculate the COGS using the total number of units and the total amount paid for them.

beginning inventory = 71 units for $5,325

purchase 1 = 262 units for $18,864

purchase 2 = 187 units for $13,838

total 524 units for $38,027

cost per unit = $38,027 / 524 units = $72.57

cost of goods sold = 500 units x $72.57 = $36,285

ending inventory = 24 units x $72.57 = $1,741.68 ≈ $1,742

6 0

3 years ago

Which one of the following is the most widely used source of retirement income?

Luba_88 [7]

Compared to IRAs, Keogh plans, and company pension plans, Social Security<span> is the most widely used source of retirement income. It is based on reports that 88 percent of retirees rely on its steady stream of payments. Fifty-five percent of retirees regards Social Security as their major source of retirement income. </span>

7 0

3 years ago

Read 2 more answers

For the following three types of project life cycle, extensively explain their similarity and diffrence by the giving your examp

grin007 [14]

The differences between the project life cycle that includes the baum cycle, unido project cycle and the depsa project cycle is the established phase for drawing a project.

<h3>What is a project life cycle?</h3>

This refers to the organized way of viewing the entirety of a project that:

establishes the steps to complete a project
helps to maintain focus and momentum
creates better defined high-level stages of completion

The Baum project cycle in project management consist of the phae that includes Identification, Preparation, Appraisal, Negotiation, Implementation & Supervision and Evaluation

The Depsa project cycle from the sentence Development Project Studies Authority is a project cycle that comprises three major phase.

Read more about project life cycle

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7 0

1 year ago

Alexa owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo:

Butoxors [25]

Answer:

Part(A):

Total expenses in connection with condo:

= 2000 + 6500 + 2000 + 1400 + 2500 + 14500

= $28,900

Assuming Alexa receives $20,000 inn gross rental receipts, she will incur losses = 20000 -28,900 = (8,900)

As Alexa's AGI from all sources other than the rental property($200,000) is higher than $150,000, she will not be able to deduct any amount of loss against her active income.

Therefore the loss is not deductible and rental activity has no effect on her AGI.

Part(B):

Assuming that Alexa’s AGI from other sources is $90,000.

Since her AGI is less $100,000, she will be able to deduct loss of $8,900

Therefore, rental activity loss will reduce Alexa's AGI to = 90,000 - 8.900 = 81,100

The rental activity loss will reduce her AGI by $8,900 and her AGI would be 81,100.

5 0

3 years ago

Rainey Enterprises loaned $20,000 to Small Co. on June 1, 2018, for one year at 6 percent interest. Required Show the effects of

kari74 [83]

Answer:

See explanation

Explanation:

See the image below:

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3 years ago