What is the name of the document that companies use to report quarterly financial results?.

Which of the following statements is CORRECT? a. One advantage of the corporate form of organization is that liability of the ow

elena-s [515]

Answer:

a. Liability of the owners of the firm is limited to their investment in the firm.

Explanation:

A corporation is defined as a form of business owned by shareholders and controlled by elected group of board of directors. A corporation is a legal entity which means that it can sue and be sued. It can also enter into a contractual relationship.

In a corporation, the liability of the

shareholders or owners of the firm is limited to their investment in the firm because of the doctrine of separate legal entity. In case of liquidation, owners would only loose their investment in the firm rather than loosing their investment and personal properties.

5 0

4 years ago

Rush Corp. has outstanding accounts receivable totaling $500,000 as of December 31 and sales during the year of $250,000. There

Dominik [7]

Answer:

$20,000

Explanation:

Calculation for what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense

Using this formula

Balance in the allowance for doubtful accounts=

(Outstanding Accounts Receivable

* Percentage uncollectible)- Eebit balance of in the allowance for uncollectible accounts.

Let plug in the formula

Balance in the allowance for doubtful accounts=($500,000*8%)-$20,000

Balance in the allowance for doubtful accounts=$40,000-$20,000

Balance in the allowance for doubtful accounts=$20,000

Therefore the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense is $20,000

8 0

3 years ago

Following are selected transactions for Vitalo Company. Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly W

umka21 [38]

Answer:

As at April 30

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

Explanation:

Following are selected transactions for Vitalo Company.

Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.

As at November 1

Account receivable = $6,000 and Note Receivable = $6000

Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note.

As at December 31

Dr. Account Receivable (61 days /180 days x 6000 x 0.08) ..$163

Cr. Interest Income......................................................................................$163

Apr. 30 White honored her note when presented for payment; February has 28 days for the current year.

As at April 30

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

4 0

3 years ago

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Guyssssssss what is 3x8x10? please show your work/ or not POINT GIVEAWAY!!

Yuri [45]

3x8x10: 240
Use calculator

8 0

3 years ago

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Any driver who is stopped by a law enforcement officer and found to have a breath or blood alcohol level of .08 or higher will,

son4ous [18]

The licence privilege of any driver who is stopped by a law enforcement officer and found to have a breath or blood alcohol level of .08 or higher will, at the time of arrest, will be suspended.

If the driver is under 21 and have a breath or blood alcohol level of .02 or higher will, at the time of arrest will have the driving privilege suspended for a period of 6 months.

6 0

3 years ago

Read 2 more answers