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2 years ago

Property, plant, and equipment and intangible assets are:

Business

1 answer:

Dmitrij [34]2 years ago

6 0

Answer:

d. Long-term revenue-producing assets.

Explanation:

Long term assets are assets that aren't expected to be changed into cash or used up in production activities during the operating cycle of a firm. They include : Property, plant, and equipment and intangible assets.

Current asset are assets that are expected to be changed into cash or used up in production activities during the operating cycle of a firm. They include cash , inventory and account receivable.

I hope my answer helps you.

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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.

5 0

2 years ago

An individual client purchased his residence 5 years ago for $200,000. For 3 of the last 5 years, the client rented out the prop

AlladinOne [14]

Yes the answer is 500,000 dollrs

7 0

2 years ago

Since 2008, Ben has owned all 100 outstanding shares of N and M Corporation’s stock. Ben’s basis for the stock is $50,000. In 20

FromTheMoon [43]

Answer:

A. $75,000 dividend

Explanation:

This is not a capital gain as it do not come from the change in the value of the previously owned shares this are new shares.

The shares which N and M provide in favor to Ben are an stock dividend thus, the tax treatment should be of dividends as well.

6 0

2 years ago

Diamond Company is considering investing in new equipment that will cost $1,400,000 with a 10-year useful life. The new equipmen

ivolga24 [154]

Answer:

the cash payback period is 6.09 years

Explanation:

The computation of the cash payback period is shown below:

= Initial Investment ÷ Net annual cash inflow

= $1,400,000 ÷ $230,000

= 6.09

Now the net annual cash flow is

. Net operating income $90,000.00

Add: Depreciation $140,000.00

Net annual cash inflow $230,000.00

Hence, the cash payback period is 6.09 years

6 0

2 years ago

Ayayai Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 102 $42 Mar. 14,

Dominik [7]

Answer:

Income after tax = $1666

Explanation:

LIFO (Last-In-First-Out) is a method of inventory valuation where the goods that are received last are used first. In other words, the latest stock is used first. This is common for bulky inventory, stacked one on top of another.

In order to obtain the after-tax income, both the gross profit and income before tax are required. To obtain gross profit, we require the cost of goods sold information. The inventory information is as follows:

Feb 1 : Purchases : 102 units x $42 = $4284

Mar 14 : Purchases : 175 units x $44 = $7700

May 1 : Purchases : 124 units x $46 = $5704

288 units were sold

The COGS would be:

124 x $46 = $5704

164 x $44 = $7216

Thus COGS : $5704 + $7216 = $12920

Gross profit : Sales - COGS

Sales : $59 x 288 = $16992

Gross Profit = $16992 - $12920 = $4072

Income before tax : Gross Profit - Expenses

Operating expenses : $1692

Income before tax = $4072 - $1692 = $2380

Income after tax : Income before tax - (tax rate x income before tax)

Tax rate : 30%

Income after tax = $2380 - ($2380 x 30%) = $1666

7 0

3 years ago