Sam, alfredo, and juan want to start a small u. s. business. juan will fund the venture but wants to limit his liability to his initial investment and has no interest in the daily operations. sam will contribute his full efforts on a daily basis but has limited funds to invest in the business. alfredo will be involved as an active consultant and manager and will also contribute funds. sam and alfredo are willing to accept liability for the firm's debts as they feel they have nothing to lose by doing so. all three individuals will share in the firm's profits and wish to keep the initial organizational costs of the business to a minimum. which form of business entity should these individuals adopt? sole proprietorship. joint stock company. limited partnership. general partnership. corporation. flag this question

What is credit and debit in accounting

Which of the following is a problem for the production of public goods?

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?