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3 years ago

Explain the differences between a partnership and a corporation

1 answer:

8 0

A corporation is an independent legal entity owned by shareholders, in which the shareholders decide on how the company is run and who manages it. A partnership is a business in which two or more individuals share ownership.

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Ramakrishnan Inc. reported 2018 net income of $20 million and depreciation of $1,500,000. The top part of Ramakrishnan, Inc.'s 2

Afina-wow [57]

Answer:

$6,500,000

Explanation:

Calculation to determine the 2018 net cash flow from operating activities for Ramakrishnan, Inc.

Cash Flows from Operating Activities

Net income $ 20,000,000

Additions (sources of cash):

Depreciation $1,500,000

Increase in accrued wages and taxes $8,000,000

($43,000,000-$35,000,000)

Increase in accounts payable $9,000,000

($69,000,000-$60,000,000)

Less Increase in accounts receivable ($6,000,000)

($98,000,000-$92,000,000)

Less Increase in inventory ($26,000,000)

($170,000,000-$144,000,000)

Net cash flow from operating activities: $ $6,500,000

Therefore the 2018 net cash flow from operating activities for Ramakrishnan, Inc is $6,500,000

4 0

3 years ago

Kemala is a factory worker in Indonesia, where she earns the equivalent of roughly U.S$1 per hour producing T-shirts to export t

postnew [5]

Answer: A. If Kemala willingly choses to work at the factory, the factory job may provide her with a better outcome than any of her next best alternatives.

Explanation:

Going by standards in the United States, the wages that Kemala is earning may be tagged as exploitative. If however, it is shown that Kamala works in that factory of her own accord, then it means that the wage is not exploitative to her because she must be earning more from the factory than other alternatives to it which was why she chose to work there.

It would simple mean that the wages in Indonesia are small by American standards and not just the ones Kemala is receiving from the factory.

5 0

2 years ago

The following facts relate to Coronado Corporation.

elena-14-01-66 [18.8K]

Answer: See explanation

Explanation:

a. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020.

Debit Income Tax Expense $40400

Debit Defered Tax Asset $7070

Credit Income Tax Payable $19190

Credit Defered tax liability $28280

(To record income tax expense and defered tax/liability).

Note that:

Income Tax Expense was gotten as:

= $202,000 × 20%

= $202000 × 0.2

= $40,4000

Income Tax Payable was gotten as:

= $95,950 × 20%

= $95950 × 0.2

= $19,190

2. Prepare the income tax expense section of the income statement for 2020.

Income statement for year ended 31 December 2020

Income before tax = $202000

Less: Income Tax expense - Current = $19190

Less: Income Tax expense - Defered = $21210

Net income = $161600

6 0

2 years ago

Jake accepted a management trainee position at Opelika Resorts, a real estate development company. Corporate management believes

GarryVolchara [31]

Answer:

A. job rotation

Explanation:

Job rotation is when an employee is moved from one job role to another with the intent of making the employee familiar with all the units in the organisation.

3 0

3 years ago

The Laresen Company uses the machine hour method of applying factory overhead to production. The budgeted factory overhead last

Pani-rosa [81]

Answer:

Total cost= $1,375

Explanation:

Giving the following information:

The budgeted factory overhead last year was $200,000, and there were 40,000 machine hours budgeted.

Job 84:

Direct materials= $900

direct labor hours= 25

Direct labor cost= $350.

First, we need to calculate the manufacturing overhead rate based on direct labor hours:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 200,000/40,000= $5 per direct labor hour

Now, we can calculate the total cost:

Total cost= direct material + direct labor + allocated overhead

Total cost= 900 + 350 + 5*25= $1,375

6 0

3 years ago