Answer:
A sole proprietorship is a business owned by only one person. The most common form of ownership, it accounts for about 72 percent of all U.S. businesses[1]. It’s the easiest and cheapest type of business to form: if you’re using your own name as the name of your business, you just need a license to get started, and once you’re in business, you’re subject to few government regulations.
As sole owner, you have complete control over your business. You make all important decisions, and you’re generally responsible for all day-to-day activities. In exchange for assuming all this responsibility, you get all the income earned by the business. Profits earned are taxed as personal income, so you don’t have to pay any special federal and state income taxes.
Explanation:
Answer and Explanation:
The computation of the equivalent units of production for both material and the conversion cost is shown below:
Particulars Materials Conversion costs
Unit transferred out 9,700 9,700
Add:
Ending work in process 8,300 3,818
(8300 × 100%) (8,300 × 46%)
Total equivalent unit 18,000 13,518
Answer: Option (A)
Explanation:
Plywood is referred to as an element that is produced from several thin layers of the wood coatings which are tightly bonded together. It is mostly describd as an engineered ply i.e. wood derived from group of the manufactured boards that tends to mostly encompasses of the M.D. i.e. the medium-density fibreboard and also the particle board.
Answer:
Assets = Liabilities + Stockholders' Equity
<u>1.</u> 1,600 0 1600
<u>2.</u> -400 0 -400
<u>3.</u> 0 0 0
<u>4.</u> -100 0 -100
<u>5.</u> -400 0 -400
<u>6.</u> 1000 0 0
-1000
<u>7.</u> 7000 7000 0
<u>8.</u> 0 200 -200
<u>9.</u> 10000 0 10000
<u>10.</u> <u> -500 </u> <u> 0 </u> <u> -500 </u>
Totals 17200 7200 10000
