Capacity of a ship used to determine taxation of the ship by its country of registry or by port or canal authorities is called

Margie received her store order on 12 3 16 at 4:00 a.M. She just opened one of the fountain bibs today 12 7 16 at 12:00 p.M. The

Kruka [31]

Answer and Explanation:

The correct way for putting this on expiration paper is as follows

Expiration date: 1/17/2017

Exp time: 4:00 AM

Preparation date: 12/3/2016

Preparation time: 4:00 AM

The above represents the correct way i.e to be putted on an expiration paper

Therefore we applied the given information to arrive at an answer

6 0

3 years ago

On 1/2/20X6, ALPHA acquired 100 shares of CHARLIE Corporation stock at $20 per share, 200 shares of DELTA Corporation stock at $

aev [14]

Answer:

The balance sheet amount for trading securities will be 12,000

Explanation:

The trading securities are valued at fair value, their diference through dates will generate Other Comprehensive Income.

For the matter of valuation, the gain/loss is not relevant. We just need to multiply market value with the number of shares to get the total for each company, then we add them to get the total for trading securities.

$\left[\begin{array}{cccc}-&shares&market \:price& subtotal\\CHARLIE&100&22&2200\\DELTA&200&34&6800\\ECHO&100&30&3000\\Total&400&-&12000\\\end{array}\right]$

The balance sheet amount for trading securities will be 12,000

7 0

3 years ago

Andrea has prepared the following list of statements about corporations. Identify each statement as true or false.

Zolol [24]

Answer:

1. A corporation is an entity separate and distinct from its owners. TRUE

2. As a legal entity, a corporation has most of the rights and privileges of a person. TRUE

3. Most of the largest U.S. corporations are privately held corporations. TRUE

4. Corporations may buy, own, and sell property; borrow money; enter into legally binding contracts; and sue and be sued. TRUE

5. The net income of a corporation is not taxed as a separate entity. TRUE

6. Creditors have a legal claim on the personal assets of the owners of a corporation if the corporation does not pay its debts. FALSE

7. The transfer of stock from one owner to another requires the approval of either the corporation or other stockholders. TRUE

8. The board of directors of a corporation legally owns the corporation. FALSE

9. The chief accounting officer of a corporation is the controller. FALSE

10. Corporations are subject to fewer state and federal regulations than partnerships or proprietorships. TRUE

Explanation:

A corporation is a business that is a separate, legal entity that is run by board of directors chosen by the shareholders. A corporation operates or exists as an entity separate and distinct from it's owner or owners. This means that as separate or legal entity, a corporation has the rights and privileges of an individual except the right to vote and be voted for.

The stakeholders or shareholders of the corporation usually select officers to serve is board of directors and every year this board of directors nominate officers for the positions of a president, secretary and treasurer to handle the running's and activities of the corporation. If the board of directors also wishes or decides they can nominate a vice president too.

7 0

3 years ago

You own a store. Beginning inventory on January 1 was $4,000. Ending inventory on December 31 was $4,500. You purchased $22,000

Butoxors [25]

Answer:

Explanation:

(a) The computation of the cost of goods sold is shown below:

= Beginning inventory + Purchase of new merchandise - ending inventory

= $4,000 + $22,000 - $4,500

= $21,500

(b) In the income statement, the total revenues and the total expenses are recorded.

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

7 0

3 years ago

January 1, Biden, Inc.'s WorkminusinminusProcess Inventory account had a balance of $ 30 comma 800. During the year, $ 58 com

Natasha_Volkova [10]

Answer:

Option (A) is correct.

Explanation:

Given that,

Direct materials = $58,500

Direct labor = $66,000

Manufacturing overhead = 120% of direct labor cost

Opening WIP = $30,800

Cost of goods manufactured:

= Direct materials + Direct labor + Manufacturing overhead

= $58,500 + $66,000 + 120% of direct labor cost

= $58,500 + $66,000 + (120% × $66,000)

= $58,500 + $66,000 + $79,200

= $203,700

December 31 balance of Work-in-Process Inventory:

= Opening WIP + cost of goods manufactured - cost of goods completed

= $30,800 + $203,700 - $220,700

= $13,800

6 0

3 years ago