Answer:
<u>The correct answer is that the cost of the ending inventory using the retail inventory method is US$ 100,962</u>
Explanation:
Wall-to-Wall Records
Cost Retail
Beginning Inventory $ 48,000 $ 70,000
Purchases $ 210,000 $ 390,000
Cost of Goods Available for Sale $ 258,000 $ 460,000
Cost to Retail Ratio
= $ 258,000 ÷ $ 460,000
= 0.5609 = 56.09%
Cost Retail
Cost of Goods Available for Sale $ 258,000 $ 460,000
− Sales $ 280,000
Ending Inventory $ 180,000
× Cost to Retail Ratio 0.5609
<u>Ending Inventory $ 100,962 </u>
Answer:
D. A limited liability company because he will only be liable for what he has invested in the business. His personal assets will be protected, and he can be taxed like a sole proprietorship.
Answer:
franchising
Explanation:
According to my research on different business strategies, I can say that based on the information provided within the question Entrepreneurs purchasing such a license are engaging in franchising. This is when the owner of a brand licenses the name to a specific individual so that individual can open up his/her own store using that name and reputation. These licenses come with certain requirements placed by the owner of the brand that the buyer must follow.
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Answer:
1a. Recognized Gain $20,000
1b. Basis $625,000
Explanation:
1a. Calculation for Miller's recognized gain using this formula
Miller's recognized gain =Condemnation award-Costs of building a new office
Let plug in the formula
Miller's recognized gain=$850,000-$830,000
Miller's recognized gain=$20,000
Therefore Miller's recognized gain will be $20,000
1b.Miller's basis
Based on the information given we were told that Miller's office building had an adjusted basis of the amount of $625,000 which simply means that Miller's BASIS for the new office BUILDING will be the amount of $625,000
Therefore the Basis is $625,000
Compliance is not the sole responsibility of compliance officer or the upper management or the compliance committee. Compliance is the responsibility of all individuals of the company.
<h3>What is Compliance?</h3>
Compliance is the act of ensuring that all the protocols mentioned in the policy are followed effectively, all the controls are in process and in working condition with complete effectiveness.
It is the duty of all the individuals to comply with the policies and ensure that the procedures are performed as per the standard operating guidelines. The compliance is not only the duty for the compliance individuals.
It is duty for all the individuals however those charged with governance are more likely to take actions against any procedure failure, but if there is any mishap and if there is a miss in the procedures being not correctly performed, it should be reported.
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