Answer:
The amount in September would Excom debit Product Warranty Expense is $805
Explanation:
According to the given data In order to calculate the amount in September would Excom debit Product Warranty Expense we would have to make the following calculation:
Product warranty expense
= 700 radios * 5% * cost per radio $23
Product warranty expense
=35*$23
Product warranty expense
=$805
The amount in September would Excom debit Product Warranty Expense is $805
Answer:
1. Price ceiling, Binding
2. Price ceiling, Binding
3. Price floor, binding
Explanation:
Price ceiling is a government or group control limit on how high a product, commodity or service can be charged.
Price floor is a government or group limit on how low a product, commodity or service can be charged.
Binding simply means you are legally bound to something while non-binding means you are not legally bound to it.
Answer: $480
Explanation:
Given that,
Scrap value of metal = $480
press is six years old, Original cost = $174,000
Current book value = $3,570
Since, we know that the realizable value of the printing press is only $ 480, so tattle teller should assign the same as the initial cost of the new project.
Hence, $480 will be the initial cost of press for the new project.
The major advantage of the corporate form of ownership is limited legal liability which means that the owner is limited to liability up to the tune of the amount that he invested in the company.
The corporate form of ownership means a business/organization that is operating as a legal entity, that is, it is run separate from the parties who own it.
In other word, the corporation which operates as legal entity is created for purpose of operating for profit for individuals, stockholders, shareholders etc
<u>Some </u><u>advantages </u><u>of </u><u>corporation </u><u>includes</u>
- Owners has limited liability.
- The easy transfer of ownership.
- The corporations usually lasts forever.
In conclusion, the major advantage of the corporate form of ownership is limited legal liability which means that the owner is limited to liability up to the tune of the amount that he invested in the company.
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<em>brainly.com/question/1705632</em>