Complete question:
Tim and Michelle have decided to form a partnership with a 60/40 partnership interest ratio. Tim contributes $7500 cash and merchandise inventory with a market value of $1500. While journalizing this transaction ________.
A) Tim, Capital will be debited for $9000
B) Tim, Capital will be credited for $9000
C) Tim, Capital will be credited for $6000 and Michelle, Capital will be credited for $4500
D) Tim, Capital will be debited for $6000 and Michelle, Capital will be debited for $4500
Answer: Tim, Capital will be credited for $9000
Explanation: Tim's total contribution towards the partnership will be recorded as his capital. Since he has contributed $7,500 worth of cash, and merchandise inventory with a market value of $1,500. The market value of the merchandise inventory and the cash contributed adds up towards his capital contribution. This is $7,500 + $1,500 which sums up to a total of $9,000.
Answer:
B) 1. and 2.
Explanation:
Both variable costing and absorption costing are affected by fixed costs (both manufacturing overhead and administrative overhead) and contribution margin per unit.
Cost absorption costs are also affected by production levels and the denominator level chosen to set the fixed manufacturing cost rate.
:-
The first thing you should do when you receive a job application is read the entire document before you begin
completing it.
Answer: Option (B)
Explanation:
Here, from the given option we can state that direct marketing is the correct option. Direct marketing is referred to as the type of communicating a proposal, under which an organizations tends to communicate straight to the pre-selected consumer and thus further supply the method or technique for the direct answer.
