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Sergio [31]
2 years ago
13

Crowe company began operations on january 1, year 1. The company was organized as a sole proprietorship. During year 1, crowe ac

quired $40,000 of capital from john crowe, the owner. Also, during year 1 the company earned net income of $20,000 and john crowe withdrew $15,000 from the business. Based on this information, the company would show:.
Business
1 answer:
just olya [345]2 years ago
5 0
Stuck on the same question please tell me when you find the answer!
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Which of the following is not commonly regarded as being part of a firm’s credit policy? a. Credit period b. Collection policy c
Alex
D!!! All of the above
6 0
3 years ago
Land was acquired in 2021 for a future building site at a cost of $41,500. The assessed valuation for tax purposes is $28,200, a
alexira [117]

Answer:

The land should be reported in the financial statements at $41,500

Explanation:

The company will report the asset value in the financial statements as their original purchase price of $40,300. Under Historical cost principle, the price of an asset on the balance sheet is always based on the original cost when the company purchased the asset. It follows the Generally Accepted Accounting Principles (GAAP) which is widely accepted. Therefore the land is reported in the financial statements at its purchase value of $41,500

8 0
3 years ago
Which of the following is the process of taking the necessary preventive or corrective actions to keep things on track?
Kryger [21]
Control is the right answer to keep things on track
4 0
3 years ago
The Exclusive Gift Company has a monopoly over the sale of gold hula hoops. This company is currently pricing and producing wher
Fantom [35]

Answer:

Produce throughout the shorter term but depart the industries run if the circumstances don't start changing because the losses are incurred.

Explanation:

The given values are:

Gold sells,

Q = 50

Price,

= $5000

Total cost,

= $300,000

Fixed cost,

= $100,000

So,

⇒ TR=5000\times 50

⇒       =250000 ($)

Now,

⇒ TVC=300000-100000

⇒          =2000 00

So that,

⇒ AVC=\frac{VC}{Q}

On substituting the values, we get

⇒          =\frac{200000}{50}

⇒          =4000

So the above is the correct answer.

5 0
3 years ago
Rashid, the CEO of Top Productions, said to his new vice president of accounting, "In the past I had resistance to new ideas by
STALIN [3.7K]

Answer:

The correct answer is (e)

Explanation:

Strategy implementation is an integral part of business activities. It is the responsibility of managers to keep an eye on all the process and make sure that all strategies are properly implemented. So, selling middle and supervisory manager on changes to overcome their resistance is often a necessary part of strategy implementation. It’s their duty to handle the resistance from employees and other staff members.

5 0
3 years ago
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