Answer:
44.44%
Explanation:
Profit is obtained by subtracting cost from revenue.
I,e.,
Profit = revenue - cost.
In this case,
Profit = $135,000 - $75,000
Profit = $60,000
As a percentage of revenue
= $60,000/ $135,000 x 100
= 0.44444 x 100
= 44.44 %
Answer and Explanation:
The journal entries are as follows:
1. Petty cash A/c Dr $150
To Cash A/c $150
(Being the establishment of petty cash is recorded)
2.
Entertainment expenses A/c Dr $70
Postage expense A/c Dr $30
Printing A/c Dr $22
To Petty cash A/c $122
(Being the reimbursement of petty cash fund is recorded)
Answer: The correct answer is "the informal rules of the game".
Explanation: The given scenario illustrates <u>the informal rules of the game.</u>
<u>Because despite not being an official standard, it is an informal rule that the company tends to follow because it gives good results, and is backed by the organizational culture of the company.</u>
Answer: limited partnership
Explanation: In simple words, limited partnership refers to an arrangement having two or more general partners and limited partners. The general partners in such an arrangement is usually an entity such as a corporation and they bore unlimited liability and keeps track of the management.
While on the other hand, the limited partners are usually someone having goodwill or market experience. They have liability to the extent of their investment and do not take part in management.
