Four major categories of Primary energy use are:
1. Transportation
2. Industrial Process
3. Commercial and residential use
4. Generation of electrical power
Transportation depends entirely on petroleum, whereas
nuclear power, coal, and water power are limited to the production of
electricity. Electricity is in most commercial and residential use. Industrial processes
use natural gas, oil, and electricity. Some oil, natural gas and biomass are
used for the generation of electricity.
An owner who is active in managing the company, and who has unlimited liability for claims against the firm is a "general" partner.
A general partnership, the essential type of association under common law is a course of action by which at least two people consent to partake in all advantages, benefits and monetary and legitimate liabilities of a business. Such partners have boundless liability, which implies their own assets are at risk to the partnership's commitments.
Answer:
$10,000
Explanation:
Net Credit Sales $250,000
Allowance for Doubtful Accounts $250,000*4%=$10,000
Bad Debt Expense will be $10,000
Bad Debt Expense Dr.$10,000
Allowance for Uncollectible Cr.$10,000
Answer:
$29,750
Explanation:
Since the Annual Payments of $53,343 are all equal for the period of 10 years at 8.5% installment note, therefore we Simple interest formula here to calculate the interest amount;
I = Prt
P = Principal Amount = $350,000
r = Interest Rate = 8.5%
t = time = 10-year
I = Interest = 350,000 x 0.085 x 10 = 297,500
Hence, the first annual payment of interest expense will be:
= 297,500 / 10 = $29,750
Answer: See explanation
Explanation:
a. inventory turnover ratio
This will be calculated as:
= Sales cost / Average inventory
= $67,596 / $9301.50
= 7.2672
= 7.27
(b) average days in inventory.
This will be calculated as:
= 365 days / Inventory turnover ratio
= 365 / 7.27
= 50.20
= 50 days
Note:
Average inventory = ($10,321 + $8,282) / 2 = $9301.50
