There are four partners in the Dallas Pet Taxi company. One of the partners, Devin, decides to dismiss a particularly difficult client from using the company’s services. He doesn't consult with the other three partners in order to take this action. The fact that Devin can make this type of business decision without consulting the other partners is considered to be a disadvantage of Limited liability partnership.
<u>Explanation:</u>
In the case of a Limited liability partnership, the liability of all or some partners is limited. limited liability means that the partners are not responsible for other partner negligence.
In this case of the Dallas pet Taxi company, One of the partners dismisses a difficult client without consulting other partners. So in case, any problem arises he will be solely responsible for it. The other partners will not be answerable for his actions. The partner responsible will have to face the consequences and bear the loss if any arises. So, is will act as a disadvantage of a Limited liability partnership where all partners are personally responsible for any misconduct or negligence.
Either excessive monopolies or A high level of government control
Answer:
$760,000
Explanation:
Costs of goods sold are the direct costs incurred in manufacturing products that sold to consumers in a period. It is obtained by using the formula below.
COGS = Beginning stock + purchases/ manufactured goods - ending stock stock.
For Edmiston Company
Beginning stock: $50,000
Endings stock: $40,000
Cost of goods manufactured: $750,000;
COGS = 50,000 + 750,000 - 40,000
COGS = $760,000
Answer:
consumer surplussurplussurplus
Explanation:
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Answer:
$392,400
Explanation:
The computation of correct balance for ending inventory on December 31 is shown below:-
Correct balance for ending inventory = Ending inventory – Office supplies
= $416,000 - $23,600
= $392,400
Therefore for computing the correct balance for ending inventory we simply deduct the office supplies from ending inventory and ignore all other amounts as they are not relevant.