Answer: A.) duopoly
Explanation:
Memory trick: duo means two.
Answer: closely held
Explanation:
Based on the information that are given in the question, Care personnel company would be a closely held organization.
A closely held corporation, is also referred to as the closed corporation. For such firma, few number of people hold their stock.
Answer:
Option (C) is correct.
Explanation:
Given that,
Anna contributes = $50,000 of cash
Parcel of land:
Adjusted basis = $100,000
Fair market value = $150,000
The contributions are free from taxes and carryover basis is applicable; thus 100,000 basis in the land plus 50,000 cash basis.
Therefore,
Anna's tax basis for her partnership interest
:
= Adjusted basis + Cash contribution
= $100,000 + $50,000
= $150,000
Hence, Anna has a $150,000 tax basis for her partnership interest.
Answer:
1) October 1:
1.1
Debit Cost of Goods sold $3,600
Credit Merchandise $3,600
1.2
Debit Cash $6,000
Credit Revenue $6,000
2) October 7
2.1.
Debit Revenue $670
Credit Cash $670
2.2.
Debit Merchandise $402
Credit Cost of Goods sold $402
Explanation:
1. October 1: when sold goods, the company recorded Cost of Goods sold and revenue:
1.1
Debit Cost of Goods sold $3,600
Credit Merchandise $3,600
1.2
Debit Cash $6,000
Credit Revenue $6,000
2. October 7
The percentage of revenue that merchandise returned = $670/$6,000 = 11.17%
Assume a constant gross profit ratio for all items sold.
Cost of returned merchandise = $3,600 x 11.17% = $402
2.1.
Debit Revenue $670
Credit Cash $670
2.2.
Debit Merchandise $402
Credit Cost of Goods sold $402
The correct option is D.
Economic regulation refers to imposition of rules by a government, backed by the use of penalties that are specifically targeted at modifying the economic behavior of individuals or industries in the private sector. Regulation is often used to narrow down choices in the targeted area.
