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4 years ago

The payment to entrepreneurship is called

1 answer:

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<span>Profit is the payment to entrepreneurship. When the entity’s amount earned exceeds the amount spent in buying, operating, or producing something and it has a financial gain, this is then the term we call the profit. This is what an entity obtains when the amount of revenue from a business activity exceeds the expenses, costs and taxes which are all needed to sustain the activity. The owner may or may not decide to use the profit on the business. This is also defined as the money the business makes after all the expenses have been taken into account. It is any company’s goal to consistently earn profit. This is the reason why much of business performance is based on the various forms related to profitability. </span>

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Hudson contracted with Ripley to install solar panels on her boat. The installation went well, seemingly. Unfortunately, two day

Blizzard [7]

Answer: The answer is provided below

Explanation:

Hudson had negotiated the check to Bishop with the full knowledge on the existing claim by Ripley that the solar panels installed by him were not been in working condition could be due to a fault at his end and he had not discharged his part of the contractual obligation for being entitled to the payment.

Based on the National Check Fraud Center, the payee can only sue the drawee who is Ripley if the underlying obligation for which the check is given is extinguished. Since Hudson had failed to discharge his part of his obligation for receiving the check from Ripley, Bishop cannot sue Ripley for dishonoring the check.

7 0

3 years ago

Danielle Ocean pays for monthly pool maintenance for her home swimming pool. Last week, the owner of the pool service informed D

earnstyle [38]

Answer: It makes pool clean up services to be more expensive.

Explanation:

The increase in price for pool cleaning chemicals would negatively affect the market because it would cause an immediate increase in price of pool cleaning services. This would mean that consumers of the cleaning services would have to pay more to get their pools cleaned up.

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4 years ago

Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $6

storchak [24]

Answer:

1. Direct materials used in production

Dr Work in process inventory $12,900

Cr Raw materials inventory $12,900

b. Direct labor used in production

Dr Work in process inventory $10,400

Cr Factory payroll payable $10,400

c. Overhead applied

Dr Work in process inventory $8,840

Cr Factory overhead $8,840

d. The sale of Job 120

Dr Accounts receivable $23,500

Cr Sales $23,500

e. Cost of goods sold for Job 120

Dr Cost of goods sold$21,890

Cr Finished goods inventory$21,890

2. Work in Process $9,180

Finished Goods $14,430

Explanation:

1. Preparation of the journal entries for the month of July

a. Preparation of the Journal entry to record Direct materials used in production

Dr Work in process inventory $12,900

Cr Raw materials inventory $12,900

(To record materials used in production)

b. Preparation of the journal entry to record Direct labor used in production

Dr Work in process inventory $10,400

Cr Factory payroll payable $10,400

(To record the cost of labor used in production)

c. Preparation of the journal entry to record Overhead applied

Dr Work in process inventory $8,840

Cr Factory overhead $8,840

[ $10,400 * 85% ]

(To record overhead cost applied to production)

d. Preparation of the journal entry to record The sale of Job 120

Dr Accounts receivable $23,500

Cr Sales $23,500

(To record the sale of Job 120)

e. Preparation of the journal entry to record the cost of goods sold for Job 120

Dr Cost of goods sold$21,890

Cr Finished goods inventory$21,890

[($6,700 + $3,600 + $3,060 + $1,500 + 3,800) + (3,800 * 85%)= $21,890]

(To record the cost of Job 120 sold)

2. Computation for the July 31 balances of the Work in Process Inventory and the Finished Goods Inventory general ledger accounts

Work in Process Finished Goods

Job # Job 122 Job 121

Direct materials

$4,000 $7,400

Direct labor

$2,800 $3,800

Overhead $2,380 $3,230

[$2,800*85%=$2,380] [$3,800*85%=$3,230]

Total cost $9,180 $14,430

Therefore The July 31 balances of the Work in Process Inventory is $9,180 and the Finished Goods Inventory general ledger accounts is $14,430

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3 years ago

The difference in income between the richest and poorest citizens is called a command economy. unemployment. private property. t

hjlf

Answer:

the wealth gap.

Explanation:

The difference in income between the richest and poorest citizens is called the wealth gap.

This ultimately implies that, the wealth gap is the difference between the richest and poorest citizens living in a geographical location based on the level of their assets and net worth i.e assets minus their debts.

Hence, the information generated by the government based on the wealth gap of its citizens is typically used for formulating economic policies, plan and financial budgets.

8 0

3 years ago

Read 2 more answers

b. You bought a sachet water machine from Indie Inc. The cost of the machine was GH¢35,000. At that time, you asked for the paym

Korvikt [17]

Answer:

You should accept the original payment method because it is cheaper. Interests resulting from the original method are 5,824, while the interests charged using the alternative method are 7,000.

Explanation:

alternative 1:

total principal of the loan = 35,000

yearly interest = 2% x 4 = 8%

future value of loan + interests in two years = 35,000 x (1 + 8%)² = 40,824

total interest = 5,824

alternative 2:

total principal of the loan = 35,000

yearly interest = 10% x 2 = 20%

future value of loan + interests in one years = 35,000 x (1 + 20%) = $42,000

total interest = 7,000

8 0

3 years ago