Answer:
Date General Journal Debit Credit
<em>Dec. 18</em> Cash $259,000
Unearned revenue $259,000
(To record advance receipt of cash)
<em>Jan. 23</em> Cash (2590000 - 259000) $2,331,000
Unearned revenue $259,000
Sales revenue $2,590,000
(To record cash sale)
<em>Jan. 23</em> Cost of goods sold $1,590,000
Inventory $1,590,000
(To record cost of goods sold)
I would put my answer as A, I'm not sure
Answer:
The correct option is option B.
Explanation:
Hence a process costing system is employed in those situations
where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis.
Answer: Banks have more funds to issue loans to consumers and businesses, which increases consumer and business spending, employment, and economic growth.
Explanation:
Answer:
1. B&G, Inc. is:
c. S-corporation
2. The feature that does not belong to this type of corporation is:
b. Management flexibility
3. The type of organization that Kevin was considering switching to is:
d. Not-for-profit corporation.
Explanation:
B&G is an S corporation, known as an S subchapter (according to the relevant IRS Code). As an S corporation, B&G is a type of corporation that enjoys a special tax status with the IRS, with some tax advantages for its shareholders. This implies that B&G is taxed as a partnership and not as a C corporation. In this instance, Kevin was considering switching to a not-for-profit corporation, which B&G is not.