Answer:
A. No annual fee is the correct answer.
Explanation:
Answer:
a. $1,500 capital gain.
Explanation:
Cynthia basis is 23,000 including a 8,500 dollars debt in the partnership.
She is selling at 16,000 cash + transferring her debt of 8,500
in total is selling for 24,500 dollars
proceeds - basis = result
24,500 - 23,000 = 1,500 capital gain
Cause they dont want to work and rather get a goverment check for playing around
Answer:
c. Decentralized
Explanation:
The very definition of a decentrilized organization is one in which management spreads authority. This means that important decisions do not only fall within the jurisdiction of top-management, but can also be taken by middle or lower management, and in some cases, even non-managerial workers.
This can help make the day-to-day operation of the firm easier because there are less bottlenecks, or authority conflicts.
The entry to record this transaction would include:
Dr. Inventory $20,000
Cr. Accounts payable $20,000
What does it mean to purchase inventory on account?
Purchasing the inventory on account for $20,000 means that Ferguson corp. did not make payment for the inventory immediately, it rather purchased the inventory on credit with a promise to pay later.
As a result, the liability of Ferguson corp. has increased, specifically, the company would credit accounts payable with $20,000 such that inventory, which is the receiving account is debited with the same amount
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