Answer:
$18,000
Explanation:
Calculation to determine what The amount of intra-entity gross profit remaining in ending inventory at December 31, 2021 that should be eliminated in the consolidation process is:.
Using this formula
Intra-Entity Gross Profit =(Transfer Price × Percentage of Bernard's GP) × Intra-Entity Transfers Remaining in Ending Inventory
Let plug in the formula
Intra-Entity Gross Profit=($150,000×30% )×40%
Intra-Entity Gross Profit=$45,000×40%
Intra-Entity Gross Profit=$18,000
Therefore The amount of intra-entity gross profit remaining in ending inventory at December 31, 2021 that should be eliminated in the consolidation process is:$18,000
Answer:
A firm must be effectively organized to capture value. A firm has to ensure it has a properly ongoing work system where everything balances. Proper marketing and advert, viability in product quality, organized administrative and technical structuring, analysis on probable customer base etc., these and many more factors have to be critically looked into and worked on to gain competitive advantage. What is the competition doing right that we are missing? who are our competition? Why are they the peoples favorite? How can we become the peoples favorite? Questions of these sort if worked on and implemented, will facilitate effective organizational growth.
Answer:
The seller must be informed when the offer is presented that the depositis a promissory note
Explanation:
A good faith deposit is one that is done by a buyer in which conditions are stated that could result in the loss of deposit by the buyer.
It is a deposit made by the buyer to show he intends to complete the payment later.
In this instance if there is a Goodwill deposit in form of a promissory note, the broker needs to be aware.
So that when he is bringing in a client he will consider the already existing deposit.
Deals that offer more deposit or full payment will be considered and the original buyer discarded.
Answer:
The answer is: Gross profit = $2,788
Explanation:
- Feb. 1 Purchase 110 units $46 per unit
- March 14 Purchase 190 units $48 per unit
- May 1 Purchase 135 units $ 50 per unit
312 units were sold at $64 per unit, tax rate is 30%
Using FIFO, what is the company's gross profit? We first calculate COGS
Cost of goods sold - 312 units:
- 110 units at $46 per unit = $5,060
- 190 units at $48 per unit = $9,120
- 60 units at $50 per unit = $3,000
Total COGS = $17,180
<u>Income statement for Hogan Industries 2017</u>
Total revenue $19,968
<u>COGS ($17,180) </u>
Gross profit $2,788
<u>Taxes 30% ($836.40) </u>
Net profit $1,951.60
Answer:
A sole proprietorship is a person who owns the business and is personally responsible for its debts. It is not a legal entity.
A partnership partnership shares the responsibilities, resources, and losses
Explanation:
