All categories

3 years ago

Business advisory services such as legal or advertising are classified under which category of industrial products

1 answer:

5 0

Business advisory services such as legal or advertising are classified under the services and supplies category of industrial products.

An industrial product is a product a company uses within itself. It is a consumable good that a company will use to make their good/product from. This can be used for the business or the family/individual personalized use.

You might be interested in

Eli has annual earnings of $100,000 and Molly has annual earnings of $50,000. Each consumer goes to the mall and purchases a mic

Damm [24]

Answer:

The correct option is A

Explanation:

Regressive tax is the kind of tax which is imposed or held in such a way or method, that the rate of tax decreases or falls as the amount subject to the taxation rises.

It describe the effect of distribution on the expenditure or on the income of the person, as the rate progresses or increases from high to low, so that it could make average tax rate increases or exceeds the marginal tax rate.

So, in this case, when both of went to purchase the oven, they have to pay extra 7%, in sales tax, which is a regressive tax.

5 0

4 years ago

Generally, local governments get the least amount of funding from:

Olegator [25]

Answer:

The answer is B. income tax

8 0

3 years ago

Read 2 more answers

On January 1, 20X8, Ritt Corporation acquired 80 percent of Shaw Corporation's $10 par common stock for $956,000. On this date,

attashe74 [19]

Answer:

The amount of non-controlling interest reported should be $251,000

Explanation:

Non-controlling interest = $239,000

Net income = $190,000

Cash dividends = $125,000

Amortization of increase in plant = $100,000 ÷ 20 years = $5,000

Value of Shaw's Corporation on January 1, 20X8 = $956,000 + $239,000

= $ 1,195,000

Value of Shaw's Corporation on December 31, 20X8 = Value of Shaw's Corporation on January 1, 20X8 + Net income - Cash dividends - Amortization of increase in plant

= $ 1,195,000 + $190,000 - $125,000 - $5,000

= $1,255,000

Minority interest = 20% × $1,255,000

= $251,000

6 0

3 years ago

Mention any two errors which can be revealed by trial balance.

labwork [276]

Answer:

Jill I am not able to get the best of my graduation and you are going through the maze and the same problem is there in the future please

7 0

3 years ago

The following two errors were made in the physical inventory counts: 1. 2012 ending inventory was overstated by $33,000. 2. 2013

timofeeve [1]

Answer:

2013: $490,000 2012: $561,000

Question:

Errors in inventory count the following information was taken from the record of Spencer Enterprises

2013 2012

Beginning Inventory $63,000 $83,000

Cost of goods purchased $548,000 $508,000

Cost of goods available for sale $611,000 $591,000

Ending inventory $93,000 $63,000

Cost of goods sold $518,000 $528,000

The following two errors were made in the physical inventory counts:

1. 2012 ending inventory was overstated by $33,000

2. 2013 ending inventory was understated by $28,000.

Compute the correct cost of goods sold for both 2012 and 2013.

Explanation:

Computation of cost of goods sold for the year 2016 and 2015

Particulars 2013 2012

Beginning inventory $63,000 $83,000

Cost of goods purchased $548,000 $508,000

Cost of goods available for sale $611,000 $591,000

Ending inventory (corrected) $121,000 $30,000

Cost of goods sold (corrected) $490,000 $561,000.

note:

In 2013 new ending inventory = $93,000 + $28,000 = $121,000

In 2012 new ending inventory = $63,000 - $33,000 = $30,000

Beginning inventory + Cost of goods purchased = Cost of goods available for sale

Cost of goods available for sale - Ending inventory = Cost of goods sold

3 0

3 years ago