Answer:
Entries are given below
Explanation:
Calculations
Cash = ($68,000 x 90%) - ($68,000 x 2%)
Cash = $61,200 - $1,360
Cash = $59,840
Loss on sale = ($68,000 + $3,800) - ($59,840 +$5,800)
Loss on sale = $71,800 - $65,640
Loss on sale = $6,160
Entries
DEBIT CREDIT
Cash $59,840
Loss on sale $6,160
Receivable from factor $5,800
Recourse liability $3,800
Receivables $68,000
Answer:
You would want to work for one because it had a lower chance of getting closed or loosing money. A positive is wiser spending. A con is not taking all the risks.
Explanation:
Hope this helps!
Answer:
<em>No she is not, a partner has the right to quit the partnership at any moment in a partnership at will. </em>
Explanation:
General partners get the option and ability to leave the joint venture at whatever moment, whereas limited and restricted partners are only allowed to leave the partnership in accordance with the terms of the partnership agreement.
Bobby is in accordance with the law to leave whenever, and hasn't broken any agreement.
Whenever a general or limited partner chooses to leave the joint venture, the business continues to remain unless it has been agreed by all partners to dissolve.
Answer:
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Explanation:
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Answer:
d.factory overhead and direct labor
Explanation:
The conversion cost is a mix of the direct labor and the factory overhead or the manufacturing overhead
In mathematically,
Conversion cost = Direct labor + factory overhead
It is that cost which includes direct labor cost and manufacturing overhead cost only. It means that it excludes the direct material cost. Like - depreciation, factory rent, factory supplies, etc