Answer:
Sole proprietorships and partnerships generally have a tax advantage over many corporations, especially large ones.
Explanation:
Sole proprietorships have a few advantages over different business substances. They are anything but difficult to frame, and the proprietors appreciate sole control of the business benefits. In any case, they likewise have disadvantages, the biggest of which being that the owner is personally liable for all business losses and liabilities.
Answer:
net cash used by investing activities = $280,000
Explanation:
Cash flow from Investing Activities :
Proceeds from Sale of Land $120,000
Purchase of Equipment ($315,000)
Proceeds from Sale of debt securities ($85,000)
Net Cash used by Investing activities ($280,000)
therefore,
Wainwright should report as net cash used by investing activities in its 2020 statement of cash flows of $280,000
Answer:
4 times
Explanation:
The inventory turnover ratio of the AD corporation can be calculated using the below mentioned formula:
Inventory turnover=Costs of goods sold/Average inventory
In given question
Costs of goods sold=$350,000
Assuming, inventory at year end= Average inventory=$87,500
Inventory turnover=$350,000/$87,500=4 times
Answer: the correct answer is a. includes a credit to Bad Debt Expense of $3,650.
Explanation: the Debt was not going to be paid but then the company received the money so it corresponds the credit to Bad Debt Expense of $3,650.
Answer:
Inventory turnover for year 2 is 4.91 times.
Explanation:
Inventory turnover measures liquidity of company`s inventory
Inventory turnover = Cost of goods sold / Ending inventory
= $390,200 / $79,400
= 4.91 times