Answer:
(a) Supplies of $400 are on hand. Supplies account shows $1,600 balance.
Supplies (asset account) are overstated and supplies expense (expense account) is understated. Adjusting journal entry:
Dr Supplies expense 1,200
Cr Supplies 1,200
(b) Services performed but unbilled total $700.
Both service revenue (revenue account) and accounts receivable (asset account) are understated. Adjusting journal entry:
Dr Accounts receivable 700
Cr Service revenue 700
(c) Interest of $300 has accumulated on a note payable.
Interest expense (expense account) and interest payable (liability account) are both understated. Adjusting journal entry:
Dr Interest expense 300
Cr Interest payable 300
(d) Rent collected in advance totaling $1,100 has been earned.
Unearned revenue (liability account) is overstated, while rental revenue (revenue account) is understated. Adjusting journal entry:
Dr Unearned revenue 1,100
Dr Rental revenue 1,100
Answer:
1. True
2. False
Explanation:
1. It is true that Partnerships generally have a tax advantage over corporations because Partnerships never really pay taxes since profits and losses are passed on to their owners since they share profits and losses, these partners then incorporate these profits in their personal income tax.
Secondly Partnerships avoid the double taxation because corporations are taxed and their owners (shareholders) are taxed when they earn dividends.
Thirdly, in corporations losses are not passed on to their shareholders to reduce their tax payable but that is a benefit in partnerships.
2. It is false that Corporations are generally less highly regulated than proprietorships because proprietorships are non required by law to publish their statement of affairs but quoted companies are mandated by law to do so. Corporate governance and audits are mandatory for corporations but not for proprietors
[T/F] 2. Corporations are generally less highly regulated than proprietorships. [T/F]
The fact that Sam buys a franchise from Taco Loco Inc means that it is governed by all of the choices.
<h3>Which authorities govern franchise deals?</h3>
As business deals, franchise deals will fall under several levels of government but most especially the state that it occured in.
The federal level will impose the federal franchise rule, and the tenets of contract law will be abided by.
Find out more on the federal franchise law at brainly.com/question/24096652.
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Answer:
A. Matched Samples
Explanation:
Matched samples is a situation whereby participants are paired, sharing every other characteristics except the one under investigation. The idea behind this is to have more control over unwanted variables. In this case, the study is measuring two production methods and in order to control the unwanted variable and leave only the characteristic or variable under investigation which is the production method, the two method is carried out by the same workers each.
