Answer: Corporate Charter
Explanation:
The Corporate Charter is a very important document that a company must fill when incorporating a business.
Even though the details vary per company based on the type of company it is as well as its size, generally the following have to be included;
- the name of the proposed corporation,
- types of activities the company will be involved in,
- amount of capital stock,
- number of directors, and
- names and addresses of the directors, is called the corporate
Answer: $758
Explanation:
When using the LIFO ( Last in First Out) method of valuing stock, you sell the stock that came in most recently first then you sell the stock that came the least recently last.
Sold 10 units in November 4 with the most recent inventory being 24 units at $23.
The 10 units therefore cost $23 each.
Sold 24 units on November 17 with the most recent inventory being 29 units purchased at $22 on the 10th of November.
This will therefore be valued at $22 each.
The Cost of Merchandise for the month is therefore,
= (10 * $23) + (24 * 22)
= 230 + 528
= $758
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Answer:
Net income in year 2021 = $0
Net income in year 2022 = $6,000
Explanation:
Given:
Purchased bonds(2021) = $860,000
Sold bonds (2022) = $866,000
Fair market value = $858,500
Computation:
A. Net income in 2021
The fair market value of the bond is less than the purchase price of the bond, that is why we can say that no profit has been received in the year 2021
Net income = $0
B. Net income in 2022
Net income = Sold bonds - Purchased bonds
Net income = $866,000 - $860,000
Net income = $6,000