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3 years ago

If a c corporation is formed on January 1, 2013 what date can it be incorporated?

Business

1 answer:

zhenek [66]3 years ago

8 0

Answer:

The C Corporation was incorporated on January 1 of 2013.

Explanation:

A corporation is a legal entity that constitutes a body to the eyes of the law. it is formed to run a particular business and has as main characteristic the Limited Liability of their owners.

Incorporation is the legal process needed to be followed in order to create a corporation. Thus. If C corporation was formed on January 1, 2013. The Incorporation day is the same January 1, 2013.

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Explanation:

Innovative changes allow companies to use new strategies and technologies to improve the efficiency of their operations. Sometimes those changes are processes or technological devices created by the company itself while in other cases they are adopted from other entities with similar approaches and accomplish almost the same goal.

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3 years ago

Jason has many roles in life. He is an engineering student in college, he's the oldest son in his family, and he earns extra mon

aleksandrvk [35]

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Explanation:

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3 years ago

Rockville Enterprises manufactures woodworking equipment and is incorporated and based in Evansville, Indiana. All of itsreal pr

mario62 [17]

Answer:

In the modern situation of Rockville Enterprises, it is producing wood functioning tools and situated in Evansville, following are the description whether Rockville Enterprise is a defensive commotion in non-ordinary conditions or not.

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3 years ago

Savallas Company is highly automated and uses computers to control manufacturing operations. The company uses a job-order costin

Setler79 [48]

Answer:

Part 1. Compute the company%u2019s predetermined overhead rate for the year

Predetermined overhead rate = $15 / Computer Hour

Part 2. Compute the underapplied or overapplied overhead for the year.

Underapplied Overheads are: $1,350,000 - $900,000 = $450,000

Part 3. Assume the company closes any underapplied or overapplied overhead directly to cost of goods sold. Prepare the appropriate journal entry.

Cost of goods sold $450,000 (debit)

Overhead Account $450,000 (credit)

Part 4. Company allocates any underapplied or overapplied overhead to work in process, finished goods, and cost of goods sold on the basis of the amount of overhead applied during the year that remains in each account at the end of the year:

Work In Process $18,000 (debit)

Finished Goods $73,008 (debit)

Cost of Goods Sold $315,000 (debit)

Overhead Account $450,000(credit)

Explanation:

Part 1. Compute the company%u2019s predetermined overhead rate for the year

Predetermined overhead rate = Budgeted Overheads / Budgeted Activity

= $1,275,000/ 85,000

= $15 / Computer Hour

Part 2. Compute the underapplied or overapplied overhead for the year.

Applied Overheads = Actual hours × Predetermined overhead rate

= 60,000 × $15

= $900,000

Actual Overheads = given = $1,350,000

Applied Overheads $900,000 < Actual Overheads $1,350,000, thus we have an underapplied situation

Therefore Underapplied Overheads are: $1,350,000 - $900,000 = $450,000

Part 3. Assume the company closes any underapplied or overapplied overhead directly to cost of goods sold. Prepare the appropriate journal entry.

Cost of goods sold $450,000 (debit)

Overhead Account $450,000 (credit)

Allocations:

Totals Weighted Average% Allocation

Work In Process $43,200 4% $18,000

Finished Goods $280,800 26% $73,008

Cost of Goods Sold $756,000 70% $315,000

Total $1,080,000 100% $450,000

Journals:

Work In Process $18,000 (debit)

Finished Goods $73,008 (debit)

Cost of Goods Sold $315,000 (debit)

Overhead Account $450,000(credit)

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3 years ago

What is the purpose of the 1040 series of tax forms?

melamori03 [73]

It is the standard (IRS) form that individuals use to file their annual income tax returns

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3 years ago

Read 2 more answers