Answer:
The correct answer is B.
Explanation:
Giving the following information:
Apr. 1: Beginning inventory of 490 units for $2.16
Apr. 20: Purchase 420 units for $2.63
Dunbar sold 570 units of inventory during the month.
Under LIFO (last-in, first-out) method, the ending inventory is integrated by the first units incorporated into inventory.
First, we need to calculate the number of units in inventory:
Ending inventory in units= total units for sale - units sold
Ending inventory in units= (490 + 420) - 570= 340 units
Ending inventory ($)= 340*2.16= $734.4
Answer:
S type corporation is difficult to register as it has a particular eligibility restriction, which many businesses are unable to meet.
Explanation:
There are specific pre-requisites before a company may apply as an S corporation
- It implies that corporation shareholders must be U.S. residents only who directly own the shares.
- Maximum 100 shareholders can be part of S corporation.
- The stock options are restricted to one class only.
The limited stock options, no foreign investment challenges and limitation of maximum shareholders create a barrier to open S type corporation. So the answer is S type corporation is difficult to register as it has a particular eligibility restriction, which many businesses are unable to meet.
Interesting...............
Answer:
OPERATING ACTIVITIES
SOURCES: INTEREST RECEIVED IN CASH $18,000, the company receives money
(USES:) PAYMENT OF WAGES TO EMPLOYEES $35,000, the company pays wages
INVESTING ACTIVITIES
SOURCES: NONE
(USES:) PURCHASE OF A PIECE OF EQUIPMENT FOR CASH $120,000 , the company pays for the equipment
FINANCING ACTIVITIES
SOURCES: NONE
(USES:) DISTRIBUTION OF CASH DIVIDEND DECLARED LAST YEAR $25,000, the company pays dividends
