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3 years ago

The three major types of firms in the united states are called

Business

1 answer:

Nina [5.8K]3 years ago

5 0

The three major types are;
1. Partnerships
2. Corporations
3. Sole proprietorship

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Which of these household purchases will be counted as part of consumption in a country’s gross domestic product?(pick more then

alex41 [277]

I think it's a "newly constructed home"

I hope it helped you!

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2 years ago

Read 2 more answers

Sunland Company has the following account balances: Sales Revenue $226,700, Sales Discounts $4,410, Cost of Goods Sold $129,600,

Kaylis [27]

Answer and Explanation:

The Journal entry is shown below:-

1. Sales revenue Dr, $226,700

To Income revenue $226,700

(Being close accounts with credit income balances is recorded)

2. Income revenue Dr, $134,010

To Sales discount $4,410

To Cost of goods sold $129,600

(Being close accounts with debit expenses account is recorded)

8 0

3 years ago

1 If Peter temporarily takes over Thomas's job in his absence, what does this move represent? Briefly explain what this entails.

Ludmilka [50]

Answer:

This can be a positive challenge for Peter's career, as by taking on Thomas he will handle different tasks and job challenges, and by taking on the new responsibilities effectively, he will be able to be more recognized in the organization he works with and gain more trust from your superiors and Thomas, which is a positive point in the work environment that can lead to future promotions.

4 0

2 years ago

Kirkaid Company recorded the following transactions for the just completed month:

Illusion [34]

Answer:

The correct answer is $5,000.

Explanation:

According to the scenario, the given data are as follows:

Total raw material = $118,000

Direct material = $89,000

So, Indirect material = Total raw material - Direct material = $118,000 - $89,000

= $29,000

Total labor = $142,000

Direct labor = $122,000

So, Indirect labor = Total labor - Direct labor = $142,000 - $122,000

= $20,000

Additional actual manufacturing OH = $214,000

Applied manufacturing OH = $268,000

So, we can calculate the underapplied or overapplied overhead for the month by using following formula:

Underapplied or overapplied overhead = Applied manufacturing OH - Actual OH

= $268,000 - ( $29,000 + $20,000 + $214,000)

= $268,000 - $263,000

= $5,000

Hence, the overapplied overhead is $5,000.

6 0

3 years ago

Sadler Corporation purchased equipment to be used in manufacturing. The purchase was made at the beginning of 2015 by paying cas

beks73 [17]

Answer:

a) Debit Depreciation expense $14,000

Credit Accumulated depreciation $14,000

Being entries to record depreciation expense for 2016

b) Debit Depreciation expense $26,666.67

Credit Accumulated depreciation $26,666.67

Being entries to record depreciation expense for 2017

The effect of a change in estimate is a reduction of the annual depreciation from $14,000 to $26,666.67 (increase of $12,666.67) annually

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,

Depreciation = (Cost - Salvage value)/Estimated useful life

Annual depreciation

= (150,000 - 10,000)/10

= $14,000

At the beginning of 2017,

Net book value of asset

= $150,000 - 2($14,000)

= $124,000

If Sadler concluded that the total useful life of the equipment will be 8 years rather than 10, and that the residual value will be zero.

Depreciation expense for 2017

= $124,000/6

= $26,666.67

5 0

3 years ago