⦁ Which of the following is a disadvantage of a sole proprietorship?

Failure to pay a loan is referred to as:

LiRa [457]

That would be:

B.) Defualt

3 0

3 years ago

Because of an accident Royce was involved in, his insurance company has increased his annual premium for auto insurance by 5.2%.

lapo4ka [179]

Answer:

D) $571.24

Explanation:

Royce' premiums for the previous year were:

bodily injury $22.50
property damage $144.75
collision $275.75
comprehensive $100

The total premium of the policy was $543

Since the premiums will increase by 5.2%, the new total premium will be = $543 x 1.052 = $571.24

4 0

3 years ago

Read 2 more answers

What was the main reason that Carnegie invested in the Frick Coke Company? He wanted to make sure he could always get fuel for h

Nikolay [14]

I believe the answer is: He wanted to make sure he could always get fuel for his steel plant.

At that time, the Frick Coke company was the largest coal producer in the country and they control about 80% of the coal market share. At that time, coal is the most important fuel resources for steel industries, they are used to melt and shapes the steel products.

4 0

3 years ago

Read 2 more answers

Percy Company purchased 80% of the outstanding voting shares of Song Company at the beginning of 2014 for $406,000. At the time

Gnom [1K]

Answer:

since Percy Company's owns 80% of Song Company's stocks, we must use the equity method to record its investment in Song Company

Beginning 2014, investment in Song Company

Dr Investment in Song Company 406,000

Cr Cash 406,000

2014, to record Song's net income

Dr Investment in Song Company 48,480

Cr Investment revenue 48,480

2015, to record Song's net income

Dr Investment in Song Company 43,120

Cr Investment revenue 43,120

2016, to record Song's net loss

Dr Loss on investment 45,760

Cr Investment in Song Company 45,760

2014, to record Song's dividends

Dr Cash 19,040

Cr Investment in Song Company 19,040

2015, to record Song's dividends

Dr Cash 40,480

Cr Investment in Song Company 40,480

2016, to record Song's dividends

Dr Cash 29,040

Cr Investment in Song Company 29,040

5 0

3 years ago

On January 2, Year 1, Jones Corporation purchased a truck for $39,000. The truck has a 5-year estimated life and a $4,000 estima

In-s [12.5K]

Answer:

Straight-line method:

depreciation expense year 1 = ($39,000 - $4,000) / 5 = $7,000
depreciation expense year 2 = $7,000
depreciation expense year 3 = $7,000
depreciation expense year 4 = $7,000
depreciation expense year 5 = $7,000

200 declining balance method:

depreciation expense year 1 = 2 x 1/5 x $39,000 = $15,600
depreciation expense year 2 = 2 x 1/5 x $23,400 = $9,360
depreciation expense year 3 = 2 x 1/5 x $14,040 = $5,616
depreciation expense year 4 = 2 x 1/5 x $8,424 = $3,369.60
depreciation expense year 5 = $5,054.40 - $4,000 = $1,054.40

Sum-of-years-digits method:

depreciation expense year 1 = 5/15 x $35,000 = $11,666.67
depreciation expense year 2 = 4/15 x $35,000 = $9,333.33
depreciation expense year 3 = 3/15 x $35,000 = $7,000
depreciation expense year 4 = 2/15 x $35,000 = $4,666.67
depreciation expense year 5 = 1/15 x $35,000 = $2,333.33

8 0

3 years ago