Answer: State Law.
Explanation:
This dispute falls under the jurisdiction of state law and so that is what the court will use. This is unless the company established a profit-sharing agreement as per the Uniform Limited Liability Company Act (ULLCA) and the state that they are in is one of the 19 states and District that enacted the UCCLA.
As the company never established a profit agreement principle, this falls under State law which normally calls for the division of profits equally amongst partners.
Answer:
A. Close the $2,500 to Cost of Goods Sold.
Explanation:
The journal entry to record the under applied overhead is shown below:
Cost of goods sold A/c Dr $2,500
To Manufacturing overhead A/c $2,500
(Being the under-applied overhead is recorded)
Since we have to record the under-applied, we debited the cost of goods sold account and credited the manufacturing overhead account
So, we close the cost of goods sold for $2,500
A.own a guitar
B.checking account
D.stocks and bonds
F.own a motorcycle
Answer:
the after tax rate of return = yield x ( 1 - tax rate)
- AT&T bonds after tax rate of return = 9.75% x ( 1 - 40%) = 9.75% x 60% = 5.85%
- State of Florida municipal bonds after tax rate of return = 5% (no tax rate)
- AT&T preferred stock after tax rate of return = 8.25% x [1 - (40% x 30%)] = 8.25% x (1 - 12%) = 8.25% x 88% = 7.26%