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V125BC [204]
3 years ago
8

Which of the following accounts could be found in the general ledger of a partnership?Income Tax Expense Interest Expense on Par

tner loansA) No NoB) Yes YesC) Yes YesD) No YesA. Option AB. Option BC. Option CD. Option D
Business
1 answer:
adoni [48]3 years ago
5 0

Answer:

Option D

Explanation:

Under the partnership accounts, income tax expense is not shown in general ledger account, though the interest expense on partner's loan account is shown in general ledger.

As the interest expense on partner loans is a general item, whereas income tax expense is monthly, common item for each business and not specific to partnership accounts.

Thus, correct answer is

D) No Yes

Option D

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Honeywell, Goodrich, and UTC Aerospace are among the suppliers to Embraer. If these companies want to look for other export oppo
Bas_tet [7]

Answer:

U.S. Department of Commerce.

Explanation:

The U.S Department of Commerce can be defined as a governmental organization that is saddled with the responsibility of promoting economic growth and development, better standard of living for the citizens and provision of job opportunities.

Basically, the U.S Department of Commerce have specialized tools and resources to help gather economic information and demographic data such as amount of export and imports into the United States of America.

In this scenario, Honeywell, Goodrich, and UTC Aerospace are among the suppliers to Embraer. If these companies want to look for other export opportunities or information on exporting, the most comprehensive source of information in the United States is the U.S. Department of Commerce.

3 0
3 years ago
Cheyenne Corp. incurred the following costs while manufacturing its product.
weeeeeb [17]

Answer:

$347,400

Explanation:

Cost of goods manufactured = Material used in product + Labor costs of assembly line workers + Factory overheads (ie Depreciation on plant+ Property taxes on plant + Factory supplies used) + Opening WIP - Closing WIP

Cost of goods manufactured = $129,100 + $111,300 + $64,600 + $16,000 + $28,700 + $14,500 - $16,800

Cost of goods manufactured = $347,400

5 0
3 years ago
The following information is available for Bandera Manufacturing Company for the month ending January 31:
elena-14-01-66 [18.8K]

Answer:

Answer: Cost of goods sold, gross profit and net income

Explanation:

Bandera Manufacturing Company

Cost of Goods Sold

Jan-31  

Finished Goods Inventory, January 1 73590

Add: Cost of Goods Manufactured 306090

Total Goods Available for Sales 379680

Less: Finished Goods Inventory, January 31 67080

Cost of Goods Sold 312600

b)  

Bandera Manufacturing Company

Gross Profit

Jan-31

Sales 651250

Less: Cost of Goods Sold 312600

Gross Profit 338650

c)  

Bandera Manufacturing Company

Net Income

Jan-31

Gross Profit  338650

Operating Expenses:  

Selling expenses 102250  

Administrative expenses 54050  

Less: Total Operating Expense  156300

Net Income  182350

2)  

a)  

Digital Vibe Manufacturing Company

Income Statement

For the Month Ended January 31

Sales  232300

Less: Cost of goods sold  103400

Gross profit  128900

Less: Operating expense  

Selling expense 59400  

Administrative expense 26100  

Total operating expense  85500

Net income  43400

b)  

Particulars Amount ($)

Materials purchased 48300

Less: Materials used for production 37200

Ending balance of materials 11100

Particulars Amount ($)

Materials used for production 37200

Add: Direct labor wages 55500

Add: Factory overhead 78200

Total cost of manufacturing 170900

Less: Transferred to finished goods 129900

Ending balance of work-in-process 41000

Particulars Amount ($)

Transfer from work-in-process 129900

Less: Cost of goods sold 103400

Ending balance of finished goods 26500

4 0
3 years ago
A project requires an initial investment of $60,000 and has a project profitability index of 0.329. The present value of the fut
OleMash [197]

Answer:

The present value of the future cash inflows from this investment is $19,740

Explanation:

Profitability Index is a useful tool for ranking project because we can know the amount/ value created by per unit of investment.

Profitability Index = Present value of future cash flow/ Initial Investment

↔ 0.329 = Present value of future cash inflow/ $60,000

↔ Present value of future cash inflow = 0.329 * $60,000 =$19,740

8 0
3 years ago
Suppose there were several large outstanding checks on the year-end bank reconciliation that did not clear the bank by the cutof
BigorU [14]

Insufficient funds and irregular signatures are reasons why a cheque may not be cleared in time.

<h3>What is a Cheque?</h3>

This can be defined as a written, dated, and signed instrument which directs a bank to pay a specific sum of money to the bearer.

Insufficient funds and irregular signatures may delay the clearing of cheque which is a result of human error and could lead to returning it.

Read more about Cheque here brainly.com/question/24555580

4 0
2 years ago
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