Answer:
$2,500
Explanation:
since Sherry will receive at least $10,000 or 25% of the partnership's net income, then the guaranteed payment = $10,000 - ($30,000 x 25%) = $10,000 - $7,500 = $2,500
When partnerships include guaranteed minimum payments, he/she will receive that amount even if the partnership's net income is not high enough. If the partnership's net income would have been $40,000 or more, then there would be no guaranteed payment (= $40,000 x 25% = $10,000).
Answer:
Option (b) 6.0
Explanation:
Data provided in the question:
Purchases = $960,000
Cost of goods sold = $900,000
Ending inventory = $180,000
Now,
Beginning inventory = Cost of goods available for sale - Purchases
= ( $900,000 + $180,000 ) - $960,000
= $120,000
Thus,
Average inventory = ( $120,000 + $180,000 ) ÷ 2
= $150,000
therefore,
Inventory turnover = Cost of goods sold ÷ Average inventory
= $900,000 ÷ 150,000
= 6.0
Option (b) 6.0
Project management is important because it ensures proper expectations are set around what can be delivered, by when, and for how much. ... Effective project managers should be able to negotiate reasonable and achievable deadlines and milestones across stakeholders, teams, and management.
Answer:
D. decline; increase
Explanation:
As the restriction on imports reduce the demand of U.S dollar. The value of U.S dollars falls which increases the value of Canadian dollar. The supply of Canadian dollars to be exchanged for U.S dollars decrease and there is less payment to be made in U.S dollars. Canadian dollar will strengthen its position and increase its value.
Answer:
Purchased calculators from Dragoo Co. at a total cost of $1,650:
- Dr Inventory 1650
- Cr Accounts Payable 1650
Paid freight of $60 on calculators:
- Dr Inventory 60
- Cr Cash 60
Returned calculators to Dragoo Co. for $52:
- Dr Accounts Payable 52
- Cr Inventory 52
Sold calculators costing $580 for $760 to Fryer Book Store:
- Dr Accounts Receivable 760
- Cr Sales Revenue 760
- Dr COGS 580
- Cr Inventory 580
Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $32.20
- Dr Sales Returns and Allowance 45
- Cr Accounts Receivable 45
- Dr Inventory 32.20
- Cr COGS 32.20
Sold calculators costing $650 for $800 to Heasley Card Shop:
- Dr Accounts Receivable 800
- Cr Sales Revenue 800
- Dr COGS 650
- Cr Inventory 650
