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Vlad1618 [11]
2 years ago
12

Raymond and his brother decided to open a computer repair shop together. This is an example of which type of business structure?

Choose the answer.
limited liability company
partnership
corporation
sole proprietorship
Business
1 answer:
trasher [3.6K]2 years ago
4 0

Answer:

partnership

Explanation:

A partnership business is formed when two or more people agree to start a business together. They become partners in the business. The partners share in the responsibilities of running the business as agreed in the partnership agreement. Profit and losses are distributed to the partners using an agreed formula.

Forming a partnership is less complex than a corporation. Typically partnerships are started by friends or acquaintances with shared business visions.

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A local theater company sells 1,500 season ticket packages at a price of $250 per package. The first show in the 10-show season
swat32

Answer:

Dr cash    $375,000

Cr unearned revenue      $375,000

Dr unearned revenue     $37,500

Cr revenue                                    $37,500

Explanation:

The total amount realized from the sale of tickets is  $375,000($250*1500)

However,the cash proceeds should be debited to cash while it is also credited to unearned revenue

The revenue from fulfilling the performance obligation=1/10*$375,000=$37,500

The $37,500 is debited to unearned revenue and credited to sales revenue as that amount has now been earned

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3 years ago
Why is it important that the military be able to evacuate supplies and people when necessary? When might they need to do this?
Marrrta [24]
It is important for the military to be able to evacuate supplies when necessary because then they can ensure the supplies will be safe the same with people. they do this during a war, major storms, and when plagues happen. 
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3 years ago
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4 0
2 years ago
Southern Industries uses job order costing. The following information was drawn from the Company’s monthly accounting reports: J
Vlad [161]

Answer:

The balance in the Work in Process inventory at the month end is $60

Explanation:

Work in Progress : It is a sum of direct material, direct labor and overhead expense. It shows how much percentage of work is left in the company. The work part left in the company is called work in progress.

For computing the Job 3 work in progress, the calculation part is shown below.

= Direct material + Direct labor + overhead expense

= $30 + $10 + 200% × 10

= $30 + $10 + $20

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Hence, the balance in the Work in Process inventory at the month end is $60

8 0
3 years ago
The budget for a merchandiser differs from a budget for a manufacturer because
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<span>a merchandise purchases budget replaces the production budget.
the manufacturing budgets are not applicable.</span>
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