Answer:
Correct option is C.
<u>$25,000, $25,000.</u>
Explanation:
Gross profit on sale = (300,000-250,000)/300,000 = 16.67%
Gain recognized in:
Year 1 = 150,000 * 16.67% = 25,000
Year 2 = 150,000 * 16.67% = 25,000
<u>Solution and Explanation:</u>
<u>Journal entry to record the purchase the bags of insultaion.</u>
Date Particulars Debit Credit
Inventory $6875
accounts payable $6875
(Purchased insulated bags from Glassco Inc., 1250bags at the rate $5.5 each)
<u>entry to record the payment for shipping</u>
Inventory $320
cash $320
( paid shipping charges for bags to warehouse)
<u>entry for return of the defective bags</u>
accounts payable $275
Inventory $275
( returned defective bags to glassco Inc)
<u>To record the payment for the bags kept by compass.</u>
Accounts payable $6600
cash $6600
( payment for remaining bags to Glassco Inc., )
Answer: b provides goods and services
Explanation: I m pretty positive this is the ans bye
Answer:
<em>c. limited partner.</em>
Explanation:
<em>In the presented scenario, Logan Nettles should become a</em> <u>limited partner</u>.
Limited partner is the partnership in which one limited partner is been required compulsory. This is slightly different from general partnership. In this profit of the business is limited and the debt and dis-advantage on the amount of investment is also limited.
So we can see that Logan is also concerned about his disadvantage which is known as liability.
I don’t remember that question