Answer:
a. It is easier to raise finance as the business can sell shares.
Explanation:
A private limited company can be defined as a type of legal hybrid-business structure that can combine both partnership and corporation form of business, and the owners are only responsible for its debts with respect to the amount of capital they have invested.
Some of the characteristics (features) of a private limited company include;
I. Shares can be issued by the private limited company to raise capital.
II. All the shareholders (owners) of a private limited company have limited liability.
III. After the death of a shareholder, a private limited company will continue to operate its business.
An advantage of operating a business as a private limited company is that it is easier to raise finance as the business can sell shares.
However, one of the disadvantages of a private limited company is that the general public are able to view a summary of their business accounts.
Answer:
$518,700
Explanation:
For the computation of unadjusted cost of goods sold first we need to find out the total cost of Job F21X and cost per unit which is shown below:-
The Total cost of Job F21X = Beginning balance + Direct materials + Direct labor + Manufacturing overhead applied
= $45,150 + $363,300 + $161,700 + $207,900
= $778,050
Cost per unit = Total cost of Job F21X ÷ Number of units
= $778,050 ÷ 10,500
= $74.10
Cost of goods sold = Completed units from Job F21X × Cost per unit
= 7,000 × $74.10
= $518,700