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3 years ago

Of the approximately 27.3 million small businesses in this country, ____ have no employees.

1 answer:

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<span>Approximately 90% of all small businesses have no employees. These would be the businesses run by a single person or a partnership, with no outside help having been hired to help with the duties of the job. This shows that a great percentage of these businesses are one- and two-person endeavors, while the larger small businesses are a distinct minority.</span>

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At the beginning of the month, supplies were $ 6 comma 000. During the month, $ 7 comma 000 of supplies were purchased. At mo

Lena [83]

Answer:

Adjusting Entry

Cost of goods sold (Dr.) $11,000

Beginning Inventory (Cr.) $6,000

Purchases (Cr.) $5,000

Closing Entry

Ending Inventory (Dr.) $2,000

Income Summary (Cr.) $2,000

Explanation:

The adjusting entry is made by debiting cost of goods sold account which reflects the amount of inventory sold during the month and the entry is credited by beginning inventory of $6,000 and the remaining amount which is $5,000 is credited in purchases account.

The closing entry is made by debiting the ending inventory by the amount of $2,000 and Income Summary account is credited by the same amount to close the inventory account.

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3 years ago

Pasadena Candle Inc. budgeted production of 730,000 candles for the January. Wax is required to produce a candle. Assume 13 ounc

Olin [163]

Answer:

Direct material budget (in pounds)= 588,125

Direct material budget ($)= $941,000

Explanation:

Giving the following information:

Production= 730,000 candles

Direct material required for each unit:

13 ounces of wax

The estimated January 1 wax inventory is 18,600 pounds.

The desired January 31 wax inventory is 13,600 pounds.

Candle wax costs $1.60 per pound.

The direct material purchases are determined by the production requirements, the beginning inventory, and the ending inventory.

First, we need to calculate the amount of wax for the period:

Production= 730,000 candles*13 ounces= 9,490,000 ounces

In pounds= 9,490,000/16= 593,125 pounds.

Direct material budget (in pounds)= Production for the month + ending inventory - beginning inventory

Direct material budget (in pounds)= 593,125 + 13,600 - 18,600= 588,125

Direct material budget ($)= 588,125*1.6= $941,000

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3 years ago

good theory should have the virtue of , or refutability. In other words, not only must a theory predict thing that we should obs

Elan Coil [88]

Answer:

True. Yes, the theory can be falsified.

Explanation:

Theory X would more specifically refer to the theory of supply and demand, which states that individuals will buy more of a particular good if their income rises. From this theory, comes the concept of "normal good", which are precisely the goods that people buy more as their income rises.

This theory could be falsified by empirical observation: a study could be made, including a good number of subjects, to see whether their purchasing habits are directly related to their income.

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3 years ago

Sheffield Corp. started the year with total assets of $220000 and total liabilities of $130000. During the year the business rec

Thepotemich [5.8K]

Answer:

Net Income for the year is $95,000.

Explanation:

The income which is calculated by deducting all the related expense from the revenue even after interest and taxes. Net Income is the amount which is available to distribute amount the stockholders, either preferred or common.

As we know

Net Income = Revenue - Expenses

Revenue = $164,000

Expenses = $69,000

Net Income = $164,000 - $69,000

Net Income = $95,000

6 0

3 years ago

Read 2 more answers

I need help in this it’s personal finance

Lilit [14]

Answer:

it may personal finance

Explanation:

because it's is include personal site

7 0

3 years ago