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4 years ago

If teamwork and support are high on your priority list, a _______ may be a poor choice for a business

Business

2 answers:

Elan Coil [88]4 years ago

8 0

If teamwork and support are high on your priority list, a closed corporation may be a poor choice for a business.

A closed corporation is generally a smaller corporation, it means that it is held by a limited number of shareholders and is not publicly traded. There are many different types of corporations.

irga5000 [103]4 years ago

5 0

the answer you are looking for is sole proprietorshipp

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In applying the lower of cost or net realizable value rule, the inventory of apparel would be valued at: A) $108,000. B) $90,000

Tanya [424]

Answer:

Answer: b

Explanation:

NRV=$120,000 – ($120,000 x 10%) = $108,000$90,000cost is less than net realizable value of $108,000 cost

5 0

3 years ago

Which of the following is an example of Brazil undertaking importing?

pishuonlain [190]

I think it’s B but somebody correct me if I’m
Wrong

7 0

3 years ago

Q 8.31: The financial statements of Baker Company report net sales of $500,000 and accounts receivable of $10,000 and $15,000 at

Alex777 [14]

Answer:

The average collection period for accounts receivable in 9. 1 or 9 days

Explanation:

The average collection period for accounts receivable in days is computed as using the formula:

Average collection period for accounts receivable = 365 / Accounts Receivable Turnover Ratio

Computing Accounts Receivable Turnover Ratio as:

Accounts Receivable Turnover Ratio = Net Sales / Average Net Accounts Receivable

where

Net sales is $500,000

Average Net Accounts Receivable is as:

Average Net Accounts Receivable = Beginning Accounts Receivable + Ending Accounts Receivable / 2

= $10,000 + $15,000 / 2

= $25,000 / 2

= $12,500

Putting the values above:

= 500,000/12,500

Accounts Receivable Turnover Ratio = 40

Now, putting the values above in the formula of Average collection period of Accounts Receivable:

= 365 / 40

Average collection period of Accounts Receivable = 9.1 days or 9 days

3 0

4 years ago

ABC firm purchased 100 food processors in 2019. By the end of 2019, there are 50 of them not sold yet. The purchased price of th

Mazyrski [523]

Answer:

Debit 1,000 cost of goods sold.

Explanation:

Based on the information given what should the accounts do with the price change will be to DEBIT 1,000 COST OF GOODS SOLD.

Dr Costs of goods sold $1,000

Cr Inventory $1,000

[($50*$120)-($50*$100)]

(To record adjusting entry to reduce Inventory value under lower of cost or market value rule)

3 0

3 years ago

Simplifying the ABC System: TDABC Golding Bank provided the following data about its resources and activities for its checking a

IRISSAK [1]

Answer:

1.$20 per hour

2. Processing accounts $4 per account

Issuing statements $2 per statement

Processing transactions $1 per transaction

Answering inquiries $3 per inquiry

$40,000

Explanation:

1. Calculation to determine the capacity cost rate for the checking account process

Using this formula

Capacity cost rate= Total resources / Total checking processing hours

Let plug in the formula

Capacity cost rate= $400,000 / 20,000

Capacity cost rate= $20 per hour

Therefore the capacity cost rate for the checking account process is $20 per hour

2. Calculation to determine the activity rates for the four activities.

Processing accounts= 0.20 × $20

Processing accounts= $4 per account

Issuing statements= 0.10 × $20

Issuing statements= $2 per statement

Processing transactions= 0.05 × $20

Processing transactions= $1 per transaction

Answering inquiries= 0.15 × $20

Answering inquiries= $3 per inquiry

Therefore the activity rates for the four activities are:

Processing accounts $4 per account

Issuing statements $2 per statement

Processing transactions $1 per transaction

Answering inquiries $3 per inquiry

Calculation to determine the cost of the issuing statements activity If the total of issuing statement was 20,000

Using this formula

Cost of the issuing statements activity= Issuing statements*Total of issuing statement

Cost of the issuing statements activity

Let plug in the formula

Cost of the issuing statements activity= 20,000 × $2

Cost of the issuing statements activity= $40,000

Therefore the cost of the issuing statements activity is $40,000

7 0

3 years ago