This would be a general partnership because both parties are responsible equally.
Answer:
$182,900
Explanation:
With regards to the above, after adjusting for the under allocated manufacturing overhead, cost of goods sold would be
= Under allocated balance of manufacturing overhead + cost of goods sold
= $ 12,400 + $170,500
= $182,900
Answer:
$18,290
Explanation:
The computation of the cost of goods sold is given below;
The profit after tax is
= Retained earnings + dividend
= $411 + $285
= $696
The profit before tax = $696 ÷ (1 - Tax rate)
= $696 ÷ (1 - 0.35)
= $1,071
Now
Sales = $24,646
Let us assume the Cost of goods sold be X
admin expenses = $4,370
Depreciation = $812
Interest = $103
Profit before tax = $1.071
Cost of goods sold (X) = $24,646 - $4,370 - $812 - $103 - $1,071
= $18,290
The shelves must be at least SIX [6] INCHES above the floor. This is necessary in order to facilitates proper cleaning of the floors, the unobstructed space below the shelf will make it easier to clean the underneath of the shelves. This will prevent cockroaches and other kitchen pests from habouring the space.
