Answer:
the Swiss Chalet had higher occupancy than its competitive set in 2019
After implementing a solution to a given work-related problem, the manager should EVALUATE THE OUTCOME OF THE SOLUTION.
The evaluation of the chosen solution is very important, it is needed to determine whether the solution chosen effectively take care of the problem or not. The evaluation process examines the effectiveness of the solution. <span />
Answer:
1. WINFREY TOWING SERVICE
Statement of Comprehensive Income
$
Service revenue 10,800
Rent expense (550)
Salaries expense (1,900)
Dividends paid <u>(4,000)</u>
Net income <u> 4,350</u>
Statement of Retained Earnings
$
Retained earnings b/f 3,900
Add: Net income 4,350
Retained earnings c/f 8,250
2. Statement of retained earnings report changes in retained earnings of a company in a given accounting year.
Explanation:
In this question, we need to obtain the net income of the company, which is service revenue minus expenses minus dividend. Then, the statement of retained earnings is prepared by taking cognisance of the retained earnings brought forward and add the net income for the year.
Answer:
The correct answer is letter "B": It is taking deposits and progress payments.
Explanation:
Advance deposits and progress payments are the amount of money taken by an organization as part of the total amount charged for a good or service that is going to be provided. It is a form of endorsement that proves the buyer has a real intention in acquiring the good or service but also helps the organization to have immediate cash flow to pay for expenses such as the raw material that will be used for production (in the case of a good).
Answer:
1,000 shares
Explanation:
The 318 attribution rule states that stock owned directly or indirectly by a partnership is considered to be owned by any partner that owns 5% or more in the business.
This is relevant to family owned businesses and is a way to mark out principal owners of a business in order to avoid tax evasion and fraud.
In this scenario John directly owns 700 of the outstanding shares. But according to the 318 attribution rule, since he he is a 50% partner he owns half of the outstanding 2,000 shares. That is 1,000 shares.
