Answer:
b. It is not a business entity
Explanation:
From the answers provided it can be said that the statement that is true about a sole proprietorship is that it is not a business entity. This is because a sole proprietorship is a business that has only a single owner and is not registered as a corporation, partnership or limited liability company. Meaning that there is no separate existence from the owner and the business, causing the business to NOT be a legal entity.
Answer:
The correct option is C
Explanation:
Bearer instruments and order instruments are separately negotiated. However, the method of negotiation is highly dependent on the instrument character at the time of negotiation. Indorsement however has the ability to turn an order instrument to a bearer instrument. Like from the example provided in the question, it must be negotiated as an order instrument (via indorsement and must be delivered), although formerly, it was a bearer instrument.
Answer:Go to a broker or bank to open up an IRA account which offers an individual valuable tax benefits for people who want to save for retirement.
Explanation: Since Edna company doesn't offer any tax retirement benefits to its employees, in which they would have offered her a 401(k)s which is usually offered by employers. An IRA will help her have access to various investments Adnan individual retirement saver.
Answer:
The question is missing the direct and indirect costs, however I will let you know how to calculate.
The costs will be given total for material, labor and overheads, along with this data a ratio in the form of a percentage will also be given for example material used in preparation of fresh bakery goods.
The amount of material will be multiplied by the percentage of material used in preparation of fresh bakery goods, the result amount will be the cost incurred for material used for the preparation of fresh bakery goods.
Explanation:
The question is missing the direct and indirect costs, however I will let you know how to calculate.
The costs will be given total for material, labor and overheads, along with this data a ratio in the form of a percentage will also be given for example material used in preparation of fresh bakery goods.
The amount of material will be multiplied by the percentage of material used in preparation of fresh bakery goods, the result amount will be the cost incurred for material used for the preparation of fresh bakery goods.
Follow this for all the cost heads provided.
Adjusting journal entry on December 31, 2019 is as follows:
Debit - Sales Returns and allowances - 16,000.00
Credit - Accounts Receivable - 16,000.00
