Answer:
$14,000
Explanation:
Amount of interest expense = [(Bond issued by 'S' company x 9%) - Amount of
premium x (unsold bonds / Bonds issued)]
= (300,000 x 0.09) - 60000/10 x 200,000/300,000
= (27,000 - 6000) x 0.66667
= 21,000 x 0.66667
= $14,000
Answer:
B. Report it as a discontinued operation.
Answer is in the photo. I can only upload it to a file hosting service. link below!
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Answer:
See below
Explanation:
1. Sole proprietorship
A company with one owner, personal liability, and pass-through taxation.
The owner makes all decisions by themselves and keeps all the profits. Business income is also owner income. Likewise, business debts are the owner's debts.
2. LLC
A company with multiple owners, limited liability, and pass-through taxation. A minimum of one owner but no upper limit. Owners are referred to as members.
3. Corporation
A company with multiple owners, limited liability, and higher taxes.
It is regarded as a separate entity from its owners. A corporation is expected to file corporate tax returns.
4. Partnership
A company with multiple owners, personal liability, and pass-through taxation. A partnership is formed when friends or entrepreneurs with similar interests combine efforts to start a business. They develop a partnership deed that guides their business operations.
