Answer: D. Longhorn owns the inventory and should report it on its balance sheet.
Explanation:
Goods to be sold on consignment for a company means a company is selling goods for another company and will be paid for their services.
In that case, the company being sold for will retain the ownership of the goods because the company that is selling it for them is simply providing a service.
Angus in this scenario are simply holding the goods to sell it and so do not own the goods. Longhorn should therefore record it in their own books as inventory.
Answer:
None
Explanation:
In simple words, audit reporting or auditing refers to the process under which an independent third part, licensed by the regulatory body, examines the financial statements of an organisation to check if such statements depicts fair information and are made as per the regulatory standards.
The auditor if satisfied gives the positive assurance and if not then he or she can ask for further information or can directly report the statements to the regulatory bodies.
Answer:
la respuesta correcta es jdjfhf
Nathanial’s company can apply for a Utility Patents patent for the new machine.
<u>Explanation:</u>
Any intellectual property can be protected by the use of a patent. Filing for legal protection is the major requirement for acquiring a patent. Patent are useful for the protection of any new process, machine or anything that is created physically. Utility patent, plant patent, provisional patent and design patent are the different types of patents that exists in US.
When a new product,machine or process is created or remodeled then Utility Patent helps to protect them. "patent for Invention" is the other name given for Utility patent. It protects your inventions from being sold or used by other industries or enterprises without your authorization.
Answer:
a. 8,200 pizzas
b. 17,400 pizzas
c. $17,100
Explanation:
The computation is shown below:
a. For break even point
= (Fixed expenses ) ÷ (Contribution margin per unit)
where,
Contribution margin per unit = Selling price per unit - Variable expense per unit
= $9 - $5
= $4
So, the break even point is
= $32,800 ÷ $4
= 8,200 pizzas
b. For target profit
The break even point is
= (Fixed expenses + target profit) ÷ (Contribution margin per unit)
= ($32,800 + $36,800) ÷ $4
= 17,400 pizzas
c. And, the margin of safety in dollars is
= (Total sales - break even sales) × selling price per unit
= (10,100 pizzas - 8,200 pizzas) × $9
= $17,100
