Answer:
Likely not. There is no indication that Bill Smith had the authority or capacity to sign on the corporation's behalf.
Explanation:
Since in the situation it is mentioned that there is no corporate seal on the deed neither it is to be said so this is not a valid real estate transaction as there is no signal that bill smith have an authority or the capacity for signing on the behalf of the corporation
So the above statement represent an answer
Committee? Not sure but best guess.
Answer:
Skysong Corporation
Statement of Retained Earnings
Retained earnings balance January 1, 2020 $691,300
Add:
Adjustments to 2019 Income Statement $88,390
Net profits 2020 $1,552,100
Less:
<u>Dividends declared and distributed ($82,000) </u>
Retained earnings balance December 31, 2020 $2,249,790
Since the land purchase was recorded as maintenance expense by error, the 2019 income statement must be adjusted by adding that amount.
Answer:
the sales in dollars sell to generate the target income is $183,334
Explanation:
The computation of the sales in dollars sell to generate the target income is shown below:
= (Fixed cost + target income) ÷ (selling price - variable cost) ÷ selling price
= ($25,000 + $66,667) ÷ ($30 - $20) ÷ $20
= $91,667 ÷ 50%
= $183,334
Hence, the sales in dollars sell to generate the target income is $183,334
