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2 years ago

The costs incurred before opening a business

1 answer:

8 0

The expenditure incurred prior to the incorporation of an enterprise is to be considered as a pre-incorporation capital expenditure. The expenditure incurred prior to the 'setting-up of business' is to be considered as a pre-operative capital expenditure.

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The following information is available for a company's cost of sales over the last five months. Month Units sold Cost of sales J

Mice21 [21]

TC Units

$64,500 (High) 2,470

} $30,700 } 2000

$33,800( Low) 470

VC per Unit = 30 700 ÷ 2000 = $15.35

when 470 units are sold,( substitute vc per unit = 15.35)

TC = FC + VC

33, 800 = FC + ( 15.35× 470)

FC = $ 26 586

4 0

3 years ago

Ramon incorporated his sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100

olasank [31]

Answer:

Ramon’s basis in the stock he receives in his corporation is $84,000

Explanation:

The computation of Ramon’s basis in the stock received in his corporation would be $84,000 as this amount reflect the adjusted basis of the assets transferred to the corporation.

These assets include inventory, building, and land. So, the total amount of the total assets would be received i.e based on an adjusted basis, not the fair market value

6 0

2 years ago

The processes a firm uses to turn inputs into outputs of goods and services is called

Troyanec [42]

The correct answer is technology.

The processes that a firm uses in order to turn inputs into outputs of goods and services is called technology.

6 0

3 years ago

According to the Portland Business Journal, Jim Houser, a Portland auto specialist, landed a key Small Business Administration a

mario62 [17]

Answer:

reconciliate balance $ 22,388,675‬

Explanation:

bank statement: 18,835

deposits in transit 100,740

22,376,200

outstanding check

10189 (56,710)

10192 (15,365)

10193 (22,650)

10194 (12,375)

Adjusted balance: 22,388,675‬

checkbook balance: 22,385,105

interest earned 4,020

ATM card fees (450)

Adjusted balance: 22,388,675

Notes: For each statement we adjust for the unknown information.

The bank is unaware of the outstanding check and the deposit in transit. So we adjust for these concepts.

The company has no knowledge of the ffes and interest earned until receiving the bank statement so we must adjust for that amount.

7 0

2 years ago

Reports that trace the entry of and changes to critical data values are called ____ and are essential in every system.

ivanzaharov [21]

Answer:

audit trails

Explanation:

Reports that trace the entry of and changes to critical data values are called audit trails and are essential in every system.

8 0

3 years ago

The costs incurred before opening a business​

The costs incurred before opening a business