Congrats for getting a man !
Answer:
<em>Journal entry to record the issuance of materials</em>
Date Accounts & explanation Debit Credit
Work in process $61,600
(2,800+24,000+3,200+31,600)
Factory overhead $1,620
Material $63,220
(To record the issuance of material)
Answer:
The correct answer is B
Explanation:
A corporation is the kind of entity, in which the operations of the business will be treated as a separate entity, legal entity which is guided by the group of officers as BOD (Board of Directors). And the partners of this type of entity, bears no personal liability.
So, Cathy and Todd, who established or created a business and that is a separate legal entity and share the ownership of 50-50. It will be a Corporation.
