Answer:
Cost of Goods Sold = $19200
Explanation:
The cost of goods sold or COGS is the cost of inventory that the business has sold for the period. The cost of goods sold can be calculated as follows,
Cost of Goods sold = Opening Inventory + Purchases for the year - Closing Inventory
Cost of Goods Sold = 6200 + 21200 - 8200
Cost of Goods Sold = $19200
Answer
The answer and procedures of the exercise are attached in the following image.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
Individual proprietors report their business income and deductions on
Form 1120S.
What is Form 1120S?
Form 1120S is an IRS form used by businesses organized as S corporations to report their income, gains, losses, deductions, and credits to the Internal Revenue Service (IRS). It is a variant of the Form 1120 and is used in place of this form by businesses that have elected to be taxed as an S corporation.
What do you mean by Proprietors?
Individual proprietors are sole proprietors who own and operate a business. They are the sole owners of the business and do not have to answer to any other shareholders or partners. They have complete control over the business and its operations, as well as the profits and losses.
Hence, the correct option is Option D.
To know more about Individual proprietors,
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Answer:
b. Invite the client into a meeting to shape the strategy.
Explanation:
It is very important when we invited the client for meeting so that we are able to share the strategy as the open and loose could be discussed in a proper way and in easy way also the suggestions are also welcome. In addition to this, the strategy should be taken place as per the preferences, requirements and choices of the clients
Therefore the option b is correct
