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kykrilka [37]
3 years ago
6

If a patent lawyer works for a startup without cash compensation, but receives instead shares in the presumably soon-to-be-succe

ssful enterprise, she is working for _____.
Business
1 answer:
masha68 [24]3 years ago
8 0
<span>sweat equity, the patent lawyer is doing for a project or enterprise in the form of effort to work for the ownership interest in a business that will increase in value it is a preferred mode of building equity for entrepreneurs who do have much money in their start-up ventures since they may be unable to provide as much financial capital to their business</span>
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The units of an item available for sale during the year were as follows: Jan. 1 Inventory 30 units at $110 Mar. 10 Purchase 60 u
vova2212 [387]

Answer:

Concept/Method       W-A          FIFO        LIFO

Ending Inventory   $  14,280     10,240       9,300

COGS                     $  21,420     25,460    26,400

Explanation:

First, we calcualte the goods available for sale through the year:

Jan. 1    Inventory 30 units at $110   =   3,300

Mar. 10  Purchase 60 units at $120 =    7,200

Aug. 30  Purchase 10 units at $124 =  12,400

Dec. 12 Purchase<u> 100 units</u> at $128 =  <u>12,800</u>

Goods Available:  200 units  Cost:       35,700

<u>Weighted average:</u>

we divide the cost of goods available over the units :

35,700 / 200 = 178.5

Then we multiply for COGS and EI

120 units x  $ 178.5 = $  21,420 COGS

 80 units x $ 178.5 = $   14,280 Ending Inventory

<u>FIFO</u>

The first untis(oldest) are COGS and the last are inventory.

we determinate the ending inventory from the last row:

Dec. 12 Purchase<u> 100 units</u> at $128 =  <u>12,800</u>

On ending inventory there is 80 units so:

80 units x 128 = 10,240

Then COGS will be the diffrence between cost of good available and ending inventory:

35,700 - 10,240 = 25,460

<u>LIFO</u>

the last units (newest) are COGS and the first are inventory

we determinate the ending inventory from the first row:

Jan. 1    Inventory <u>30 units </u>at $110   =   3,300

Ending invenotory 80 units - 30 units = 50 more units

we "grab" one more row:

Mar. 10  Purchase 60 units at $120 =    7,200

from we he need 50 units at 120

so ending inventory is:

30 units at $  110   =  3,300

50 units at $ 120    = 6,000

        Total                   9,300

Then, COGS is calculated by dfference like FIFO:

35,700 availalbe goods - 9,300 ending inventory = 26,400

7 0
3 years ago
Which behavior demonstrates courtesy toward others in the workplace?
Alecsey [184]

The behavior which demonstrates courtesy toward others in the workplace is, consulting with a coworker before intervening in one of his or her projects.

Answer: Option D.

Explanation:

Courtesy is being polite and kind. It means showing politeness in ones behavior. So the most appropriate behavior of courtesy in workplace is mostly certainly consulting before involving in his/her project.

Asking before intervening is important so as to avoid any conflict between the workers and it is also a good gesture towards other co workers. This thus demonstrates the courtesy towards others. Consulting shows respectfulness towards the other person, thus resulting in courtesy behavior.

8 0
3 years ago
On November 1, 2013, Wenger Co. paid its landlord $4,260 in cash as an advance rent payment on its store location. The six-month
Lubov Fominskaja [6]

Answer:

The journal entry should be:

November 1, 2013, six months of rent paid in advance

Dr Prepaid rent 4,260

    Cr Cash 4,260

Assets                                             = liabilities + equity

cash            prepaid rent

-$4,260       $4,260                          $0              $0

Revenues           -          Expenses          =           Net income

$0                                  $0                                   $0

This operation represents an operating cash flow activity.

3 0
3 years ago
Grand River Corporation reported taxable income of $500,000 in year 1 and paid federal income taxes of $105,000. Not included in
kondor19780726 [428]

The corporation's current earnings and profits for year one would be (A) $354,000.

<h3>What is taxable income?</h3>
  • The base on which an income tax system levies tax is referred to as taxable income.
  • In other words, the income is subject to taxation by the government.
  • In general, it includes some or all elements of income before costs and other deductions are deducted.
  • Income, costs, and other deductions differ depending on the country or system.
  • Many systems stipulate that certain types of income are not taxable (also known as non-assessable income) and that certain expenses are not deductible when calculating taxable income.
  • Some systems base tax on current-period taxable income, while others base it on prior-period taxable income.
<h3>To find the current earnings and profit for one year:</h3>

Income + Installment sale = 500,000 + 25,000 = $525,000

Income taxes + tax-exempt income = 170,000 + 1000 = $171,000

525,000 - 171,000 = $354,000

Therefore, the corporation's current earnings and profits for year one would be (A) $354,000.

Know more about taxable income here:

brainly.com/question/26316390

#SPJ4

Complete question:

Grand River Corporation reported taxable income of $500,000 in year 1 and paid federal income taxes of $170,000. Not included in the computation was a disallowed meal and entertainment expense of $2,000, tax-exempt income of $1,000, and deferred gain on an installment sale of $25,000. The corporation's current earnings and profits for year 1 would be:

A) $354,000.

B) $524,000.

C) $500,000.

D) $331,000.

7 0
2 years ago
In a tiny village, on the coast of South America, early inhabitants used sea shells, as money. Some of these shells were very be
RUDIKE [14]

Answer:

Option (B) is correct.

Explanation:

Unit of account:

There are some functions of money or we can say that characterstics of money:

(a) Medium of exchange

(b) Store of value

(c) Unit of account

(d) Standard of deferred payments

Sea shells are precious items but one cannot properly split divide those sea shells into small denominations like money does. Money is easily storable, people use as a medium of exchange and unit of account.

By unit of account we mean that we can easily measure the value of goods and service and many things in monetary terms but we cannot measure in terms of sea shells.

That's why sea shells unfit to act as money today.

8 0
3 years ago
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