Answer:
B.
Explanation:
LIFO takes the latest cost of goods into account and leads to rising cost of goods produced or purchased. This in turn leads to lower gross profit. Conversely, FIFO takes into account oldest cost of goods purchased or produced and lower cost of goods sold, thus higher gross profit.
Answer:
D) 3 years' worth of dividends will be paid to preferred shareholders prior to paying anything to common shareholders.
Explanation:
Shareholders are the individuals or institutions that hold the stock of a company making the owners of the business. Shareholders can either be common shareholders or preferred shareholders. Common shareholders are more prevalent and have voting rights in matters concerning the company.
Preferred shareholders hold preferred stock. They are rare and have no voting rights in the way the organization is managed. Preferred shareholders are entitled to a fixed amount of dividend every year. Dividends to preferred shareholders have to be paid first before common shareholders are paid out. Usually, common stockholders will be last to paid last in the event of dividends payouts or in times of liquidation.
Answer:
Trial Balance
Account <u> DEBIT CREDIT </u>
Cash 6,416** -
Account Receivable
Prepaid Insurance 2,400 -
Supplies 910
Equipment 33800
Common Stock 40600*
photography fees 3631
utilities expense <u> 705 </u>
TOTAL 44,231 44,231
Explanation:
*Common stock:
6,800 cash + 33,800 equipment = 40,600 total investment
**to calculate cash we need to do a T account
CASH
<u>DEBIT CREDIT </u>
6800
2400
910
3631
<u> 705 </u>
10,431 4,015
BAL: 6,416
The rest of the account are just used once so we do't have to do T-accounts to keep track of them
Answer: can obtain the benefit
Explanation:
Public goods are meant to be for the benefit of everyone in the country not just a select few. This means that when the government provides one therefore, everyone can obtain the benefit.
Think of a police station for instance. When one is built in an area, everyone there should enjoy more security not just a few because the police are to protect the welfare of every law abiding citizen.
Answer:
provide Meatpackers with funds for a foreseeable loss beyond the contract.
Explanation:
- Meatpackers lose a few percent each day as a result of the delay. Ideally, meatpackers would be awarded an award of consequential loss, which would fund meatpackers with a loss beyond the contract with the meatpackers.
- so here Nemiah's failure to deliver on contract time is not only a matter of time for meatpackers, but as a result, they are losing money in terms of money affecting their business beyond the contract horizon.
