<span>Barter. Things of value are directly exchanged between a buyer and a seller without the involvement of money or other financial instruments. It is the simplest and oldest form of trade where a transaction is merely an exchange of one thing for another.</span>
Answer:
The amount allocated to goodwill at January 1, 2017, is: $16,000
Explanation:
We talk of goodwill when a company acquires another one and is the difference between the cost to purchase the business minus the fair market value of the tangible assets netted the liabilities.
In this case the fair value of the assets is:
Assets $550,000 + $40,000 - $10,000= $580,000
The book value of the assets is corrected with the fair value, in this case we correct the value of the patent.
Liabilities $300,000
porcentage acquired 30%
price paid $100,000
$100,000 - ((580,000-300,000)*30%) = $16,000
Answer:
see below
Explanation:
Operating expenses are the cost a business incurs while engaging in its normal business operations. They are the costs not directly be attached to the production process. A business incurs operating expenses in managing it day to day activities. They exclude one time expenses such as judgment cost, accounts adjustments, and other non-recurring costs.
Operating expenses are classified into administrative, selling, and general expenses. Businesses cannot avoid operating expenses; hence the management should strive to keep them as low as possible. Examples of operating expenses include rent, salaries, employee benefits, transport, depreciation, repairs, taxes, sales commissions, amortization, and pension contributions.
<span>The journal entry to record the purchase of merchandise on account for $2,750 with freight of $125 prepaid and added to the invoice is : </span>debit Purchases $2,750, debit Freight In $125; credit Accounts Payable $2,875
Answer:
dependable suppliers who are willing to deliver on short notice
Explanation:
I will first try to explain what the concept means. just in time processing is an inventory strategy that has to do with the ordering of materials at short notice and receiving these items just in time for the production process. It decreases inventory costs and waste and also raises efficiency since goods are only going to be received as they are needed for production.
Therefore the correct answer is: dependable suppliers who are willing to deliver on short notice.
