Answer:
B) USD 317,000/-
Explanation:
By adding reported values and subtracting payable we will get a derivation like below:
= 220,000+50,000+10,000+30,000-1000+8000
= USD 317,000/-
A Joint Venture is a strategic alliance in which two existing companies collaborate to form a third, independent company.
Answer:
$506,000
Explanation:
The gross profit of a company is the balance left after the deduction of costs associated with producing or selling of the company's goods or cost associated with providing services from the net revenue
The gross profit is simply calculated as
= Net revenue - Cost of goods sold
= $870,000 - $364,000
= $506,000
Therefore, Callie's gross profit is $506,000
Answer:
C. The contribution is recorded as revenue with an equal amount recorded as "other financing blah blah blah report me whatever
