Answer:
b. $1,000
Explanation:
Basis at the beginning of the year $10,000
Less cash received $6,000
=$4,000
Distributive share of income is $5,000
Less land distribution with a basis of $8,000
=$3,000
Hence:
$4,000-$3,000
=$1,000
Therefore Beth’s partnership interest basis at the end of the year will be $1,000
The main advantage of using cash over other forms of payment is that its eliminates the possibility of overspending.
<h3>How does cash eliminates
overspending?</h3>
While doing a physical transaction, there will not be a situation of overspending because the person can not purchase more than the cash value he/she has on him/her.
Hence, the main advantage of using cash over other forms of payment is that its eliminates the possibility of overspending.
Read more about cash
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Answer:
Budgeted Income Statement in the Master Budget
Explanation:
The Master Budget provides a summary of all the operations of the business. It is made up of Budgeted Manufacturing Account, Budgeted Income Statement and Budgeted Financial Position.
Where the selling price it to be determined, the price giving the desired profits can be calculated by adjusting the sales to the desired profits in the Budgeted Income Statement.
Answer:
$237,855
Explanation:
Opening inventory = $157,000
Purchases = $502,900
Sales revenue = $649,300
gross profit = 35% of sales
= 35% × $649,300
= $227,255
cost of goods sold = $649,300 - $227,255
= $422,045
Opening inventory + purchases - cost of goods sold = closing inventory
$157,000 + $502,900 - $422,045 = closing inventory
closing inventory = $237,855
An estimate of Coronado’s April 30 inventory that was destroyed by fire is $237,855
Answer:
Random sampling. ...
Simple random sampling. ...
Systematic sampling. ...
Stratified sampling. ...
Cluster sampling. ...
