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2 years ago

What are the legal requirements to be fulfilled in order to start this business?

Business

1 answer:

iren [92.7K]2 years ago

8 0

Answer:

Create a LLC or Corporation. The first legal requirement you’ll need to meet as a new business owner is to choose the business structure of your ...

Apply for a Federal Tax ID Number.

Determine If You Need a State Tax ID Number.

Obtain Business Permits and Licenses.

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As of june 30, 2013, actual tigers company has assets of $100,000 and stockholders' equity of $30,000. what are the liabilities

nignag [31]

'Actual Tigers Company'
Total Assets
$100,000
Stockholder Equity: $30,000

$100,000 - $30,000 = $70,000

$70,000 + $30,000 = $100,000

Total Assets - Equity = $70,000 (total liabilities)
$70,000 + Equity = $100,000 (total assets)

In accounting if we minus the total assets ($100,000) with equity ($30,000) it will always give the "total liabilities" which is (70,000)

Then, adding the "total liabilities" ($70,000) with the equity ($30,000) equals $100,000 equal like as the "total assets"of $100,000

The total assets MUST match the total liabilities. If they don't match then either the calculation of the total assets are inaccurate or the numbers are estimated wrong to recalculate.

8 0

3 years ago

Wanda owns a lemonade stand. she produces lemonade using five inputs: water, sugar, lemons, paper cups, and labor. her costs per

kari74 [83]

The cost of making one cup of lemonade = 0.01 + 0.02 + 0.03 + 0.02 + 0.10 = 0.18
Wanda sells a cup of lemonade for 0.50, thus, she always make a gain of 0.32 on each cup of lemonade. That is, Profit = 0.50 - 0.18 = 0.32.
For 300 cups of lemonade, Wanda profit's will be 0.32 * 300 = 96
Therefore, Wanda's economic profit is $96.

7 0

3 years ago

Activity-Based Costing: Factory Overhead Costs The total factory overhead for Bardot Marine Company is budgeted for the year at

Butoxors [25]

Answer:

The question is not incomplete as it is missing the requirement below:

A) The activity rates for each activity and

B) The activity-based factory overhead per unit for each product.

Fabrication activity rate=$68 /dlh

Assembly activity rate =$35 /dlh

Setup activity rate =$390/setup

inspection activity rate=$90/inspection

Speed boat activity based factory overhead=$387000

Bass boat activity based factory overhead=$213000

Explanation:

Fabrication activity rate=$204,000/(2000+1000)=$68 /dlh

Assembly activity rate =$105000/(1000+2000)=$35 /dlh

Setup activity rate =$156000/(300+100)=$390/setup

inspection activity rate=$135000/(1100+400)=$90/inspection

Speed boat total overhead is computed thus:

fabrication $68*2000 136000

Assembly $35*1000 35000

setup $390*300 117000

inspection $90*1100 <u>99000 </u>

Total 387000

bass boat total overhead is computed thus:

fabrication $68*1000 68000

Assembly $35*2000 70000

setup $390*100 39000

inspection $90*400 <u>36000 </u>

Total 213000

8 0

3 years ago

During March, Patt, Inc. purchases and uses 8,800 pounds of materials costing $35,640 to make 4,000 tiles. Patt's standard mater

omeli [17]

Answer and Explanation:

The computation is shown below:

Total material cost variance

= (Standard quantity × standard price) - (actual quantity × actual price)

= (4,000 tiles × 2 pounds of material × $4) - (8,800 pounds × $35,640 ÷ 8,800 pounds)

= (8,000 pounds × $4) - ($8,800 pounds × $4.05)

= $3,640 unfavorable

For material price variance

= Actual Quantity × (Standard Price - Actual Price)

= 8,800 × ($4 - $4.05)

= $440 unfavorable

For material quantity variance

= Standard Price × (Standard Quantity - Actual Quantity)

= $4 × (8,000 pounds - 8,800 pounds)

= $3,200 unfavorable

The favorable variance is that in which the standard cost is more than the actual cost and the inverse goes to unfavorable variance

4 0

3 years ago

Which of the following BEST represents a mission statement? A. Our goal is to honor and empower wounded warriors. B. We strive

BabaBlast [244]

Answer:

B. We strive to be the worldwide leader in sharing delicious tastes and creating joyful memories

Explanation:

There are two concepts i.e mission and vision. The mission statement is the statement in which it talks about the company goals and objective that represent the present condition of which market should be targeted, its geographical location, etc

While on the other hand the vision statement refers to position of the company in the future. It is always for the long term as it is always thinking for the future where the company what to be.

Based on the above explanation, the option B is correct as it depicts the mission statement.

4 0

3 years ago