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4 years ago

The following transactions are July activities of Craig's Bowling, Inc

Business

1 answer:

Strike441 [17]4 years ago

4 0

Answer:

Craig's Bowling, Inc

Income Statement for the month of July

Sales ($13,300 + $8,000) $21,300

Less: Cost of goods sold ($3,490)

Gross profit $17,810

Less: Expenses

Insurance ($1,800 / 3) $600

Wages $4,500

Repair expenses $1,800

Electricity bill $2,000

Total expenses ($8,900)

Net profit $8,910

Note:

Note that the purpose of the income statement is to calculate the profit or loss for a specific period, and not the cash flows during that period. Hence, transactions c., d. and e. are not to be recorded in the income statement for the month of July.

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Pasha works for a manufacturing company in a small town. He reports to his manager that the company is not fulfilling its commit

Vedmedyk [2.9K]

Answer:

d. obstructionist

Explanation:

Since in the question it is given that pasha reported his manager that company is not able to fulfill the commitment in order to decrease pollution but the manager said that ignore this issue also dont tell anyone so this represent an obstructionist approach as the firm or the company avoids the social environmental problems so indirectly it breaks the law and their conduct is to be considered as an unethical

Therefore, the option d is correct

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3 years ago

Which of the following statements about S corporations is most accurate? Any corporation willing to pay the necessary fees and f

Vedmedyk [2.9K]

Answer:

The major attraction of S corporations is that they avoid the problem of double taxation

Explanation:

Am S corporation is also called a small enterprise corporation that providers liability protection for its owners.

The business is considered.to.ba an independent entity, so if the corporation is liable to pay a judgement sum the owners will not be asked to use their personal funds to repay.

One key feature.os S corporation is that tax is passed along. The tax to be paid by the business is transfered to the owners.

So taxis only paid once. This avoids double taxation where the business is taxed and owner also taxed.

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3 years ago

if the federal reserve decided to include virtual money like bitcoins in its measure of the money supply, what would be the effe

viva [34]

If the Fed decided that virtual money should be included in money supply, we would see a situation where both M1 and M2 increase/ rise. 

M1 is:

The most liquid money instruments
Inclusive of cash and close instruments

If virtual money was counted as money, it would increase M1 because virtual money is very liquid as it can easily be converted to cash so it would be counted as M1.

M2 would increase because M1 is part of M2.

In conclusion, both M1 and M2 would increase.

Find out more about M1 and M2 at brainly.com/question/25458814.

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3 years ago

is personally responsible for all partnership debts. has no say over a firm's daily operations. faces double taxation whereas a

aleksandrvk [35]

Answer:

is personally responsible for all partnership debts

Explanation:

COMPLETE QUESTION

A general partner:

is personally responsible for all partnership debts. has no say over a firm's daily operations. faces double taxation whereas a limited partner does not. has a maximum loss equal to his or her equity investment. receives a salary in lieu of a portion of the profits.

EXPLANATION

A general partner can be regarded as a person that joins with another person or join with more than one other person to form a business. A general partner is responsible for the actions that is been taken in the business, He or she is liable personally for all the debts as well as obligations in the business and can bind the business legally. It should be noted that A general partner is personally responsible for all partnership debts.

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3 years ago

The nominal value of anything is its price expressed in ________, and the real value of anything is its value expressed in ___

Alexandra [31]

Answer:

D. today's dollars; purchasing power

The nominal value of anything is it's current price or the dollar amount someone is paying for it. For eg if the price of a kg of rice is $3, its nominal value is also $3. The real value is expressed in terms of purchasing power which means that the amount of goods and services that you can purchase from a particular amount of money today compared to a base year in the past. So for example if the base year is 5 years ago and the price of a kg of rice was $1.5, the real value of $3 would be 2 kgs of rice, where as currently if the price of a kg of rice is $3 then the real value of $3 is 1 kg of rice. As purchasing power decreases the real value of money decreases.

Explanation:

7 0

3 years ago