Answer:
Explanation:
1) If Southwest Development Company is a sole proprietorship owned by Ms. Harper then Ms. Harper has unlimited liability in the business which means that creditors can claim against her personal assets.
2) If Southwest Development Company is a 50-50 partnership of Ms. Harper and Christopher Black then Ms. Harper has unlimited liability in the business which means creditors can claim against her personal assets.(same like number 1)
3) If Southwest Development Company is a corporation then Ms. Harper has limited liability in the business which guarantees that Ms. Harper cannot lose more than the $25,000 she invested.
Answer:
Swift Company should charge depreciation expense of $55,556 to income statement for the year ended December 31, 2013.
Explanation:
Under straight-line method, depreciation expense is (cost - residual value) / No of years = ($500,000 - 0) / 6 years = $83,333 yearly depreciation expense.
Accumulated depreciation as at end of 20212 = $83,333 x 2 = $166,667
Net book value (NBV) becomes $500,000 - $166,667 = $333,333
New depreciation is ($333,333 - $0) / 6 years = $55,556 yearly depreciation expenses from 2013 onward.
When completing the cost of poor quality analysis, the category under in hard cost under which rework will be considered is : Material for construction. This can include but are not limited to:
- Wood
- Steel
- Glue
- Roofing etc.
<h3>What is
cost of poor quality analysis?</h3>
The cost of poor quality (COPQ) is the expense of supplying low-quality items or services to customers.
In other words, it is the overall financial losses sustained by the firm as a result of doing things incorrectly.
Examples include scrap, rework, repair, and warranty failure.
Learn more about cost of poor quality analysis:
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Answer: c. $7,100
Explanation:
Supplies cost according to the flexible budget is to be calculated based on the actual level of activity.
The cost is:
= Fixed cost + (Variable cost * actual level of activity)
= 2,240 + (6 * 810)
= 2,240 + 4,860
= $7,100