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3 years ago

Looking up the meaning in a dictionary

Business

1 answer:

NikAS [45]3 years ago

6 0

Dictionary: Often a book listing the spellings and Definitions of words.

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Which of the following is not considered a legitimate expense of a partnership? a Interest paid to partners based on the amount

never [62]

Answer:

a Interest paid to partners based on the amount of invested capital.

Explanation:

A partnership is formed between two parties that agree to go into a venture for mutual gain. The parties share ownership of the business entity and as such are entitled to profit from their equity holdings.

Interest paid based on invested capital is considered a distribution of profit by the business and not an expense. This is similar to sharing profit to shareholders in a company.

Legitimate expenses include: cost of sales, staff cost, administrative costs, advertising costs, and professional expenses like hiring an accountant.

8 0

3 years ago

The term that describes what occurs when a manager does what is in his/her best interests and not what is in the best interests

Rom4ik [11]

Answer:

Lowballing

Explanation:

4 0

3 years ago

On January 1, 2019, Al's Sporting Goods purchased store fixtures at a cost of $180,000. The anticipated service life was 10 year

xz_007 [3.2K]

Answer:

The journal entry is shown below:

Explanation:

The journal entry is as follows for recording the depreciation:

Depreciation expense A/c.........................Dr $ 14,400

Accumulated depreciation...............Cr $ 14,400

Working Note:

Depreciation rate = 100 % / Number of years of life

= 100 % / 10 years

= 10%

This will be multiplied by 2

= 10% × 2

Depreciation rate = 20%

Using the double declining method:

In year 2019

Depreciation expense = Cost of purchasing × Depreciation rate

= $180,000 × 20%

= $36,000

In year 2020

Depreciation expense = ( Cost of purchasing - Depreciation expense of last year) × Depreciation rate

= ($180,000 - $36,000) × 20%

= $144,000 × 20%

= $28,800

Using the Straight Line method:

In the year 2021

Depreciation expense = (Cost of purchasing - Depreciation expense of 2 years) / Number of years of useful life

= ($180,000 - $64,800) / 8

= $115,200 / 8

= $14,400

5 0

3 years ago

Harry owes the bank money. To repay his debt, he paid \$150$150dollar sign, 150 back to the bank each month. After 101010 months

Firdavs [7]

Answer: $8,400

Explanation:

Given the following:

Amount repaid each month = $150

Number of Periods for which amount was paid = 10 months

Amount left after 10 months payment = $6900

Harry's original debt=?

The total amount paid = $150 × 10 = $1500

Amount left = $6900

Total debt amount:

(Total Amount left + total amount paid )

$(6900 + 1500)

=$8400

7 0

4 years ago

The Crunchy Potato Chip Company sells chips in boxes with a net weight of 846 grams per box . Each box contains ten individual 3

Alinara [238K]

Answer:

0.8

Explanation:

Given:

Number of chips contained in each box = 10

Weight of each packet of chips = 3 ounce

Average weight per box = 853 grams

Upper specification limit of the weight = 846 + 12 grams = 858 grams

Lower specification limit of the weight = 846 - 12 grams = 834 grams

Standard deviation, σ = 5 grams

Now,

Capability index = $\frac{\textup{Upper limit - Lower limit}}{6\sigma}$

Capability index = $\frac{858 - 834}{6\times5}$

Capability index = 0.8

7 0

3 years ago