1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
grigory [225]
2 years ago
15

Dr. Ruiz shares equal responsibility and liability with her colleagues in their small business, which is a medical practice. Her

business is a ________.
A. Limited Partnership
B. General Partnership
C. Closely held corporation
D. Publicly held corporation
Business
1 answer:
Brrunno [24]2 years ago
5 0
Dr. Ruiz shares equal responsibility and liability with her colleagues in their small business, which is a medical practice. Her business is a general partnership. Compared to limited partnership, general partnership have unlimited liability and that general partners are liable to their partnership's obligations. The answer would be letter B.
You might be interested in
Turner Inc. produces two products P1 and P2. The company has provided you with the following information. Assume that the curren
Nesterboy [21]

Answer:

B. The operating leverage for Turner now is 0.47  ⇒ TRUE

operating leverage = fixed costs / total costs = $240,000 / $510,000 = 0.47

C. Turner makes a contribution of $0. 57 per dollar of revenue, on the average.  ⇒ TRUE

total contribution margin = ($20 x 9,000) + ($30 x 6,000) = $180,000 + $180,000 = $360,000

total revenue = $630,000

contribution margin per $ of revenue = $360,000 / $630,000 = $0.57

D. Turner will break even when it reaches a revenue of $420,000.  ⇒ TRUE

break even point in $ = (6,000 x $30) + (4,000 x $60) = $180,000 + $240,000 = $420,000

Explanation:

A. 40% of Turner's revenue comes from P2  ⇒ FALSE

total revenue = $270,000 + $360,000 = $630,000

revenue from P2 = $360,000, which represents 57.14% of total revenue

E. The breakeven volume for Turner is 9,334 units ⇒ FALSE

in order to calculate break even point, we can prepare a bundle of products = 3P1 + 2P2

contribution margin per bundle = $120

break even point = $240,000 / $120 = 2,000 bundles

6,000 P1 and 4,000 P2

7 0
2 years ago
Your sister turned 35 today, and she is planning to save $20,000 per year for retirement, with the first deposit to be made one
Elenna [48]

Answer:

She can spend $162,114.58 at the end of each period before she can exhaust the amount.

Explanation:

She will save up to $1,889,215.73 by saving $20,000 per year for 30 years, making the first deposit at the end of a year from today.

FV (Future Value) $1,889,215.73

PV (Present Value) $248,180.82

N (Number of Periods) 30.000

I/Y (Interest Rate) 7.000%

PMT (Periodic Payment) $20,000.00

Starting Investment $0.00

Total Principal $600,000.00

Total Interest $1,289,215.73

She can can retrieve $162,114.58 at the end of each period to reach the future value of $0.00.

FV (Future Value) $-0.00

PV (Present Value) $-0.00

N (Number of Periods) 25.000

I/Y (Interest Rate) 7.000%

PMT (Periodic Payment) $-162,114.58

Starting Investment $1,889,215.73

Total Principal $-2,163,648.74

Total Interest $2,163,648.74

8 0
2 years ago
A company had inventory on November 1 of 5 units at a cost of $19 each. On November 2, they purchased 10 units at $21 each. On N
nydimaria [60]

Answer:

The answer is $221

Explanation:

LIFO means Last in First out i.e the inventory that was bought last will be sold out first.

Opening balance:

November 1: 5 units at $19 each

Purchased:

November 2: 10 units at $21 each

Purchased:

November 6: 6 units at $24 each

Sold:

November 8: 10 units at $54 each

Total number of units bought plus Beginning inventory = 5 + 10 + 6 = 21 units

Therefore, number of units remaining at November 8 after sales is 21 - 10

=11 units.

So according to LIFO, we have:

6 units at $21 = $126

5units at $19 = $95

$95 + $126

=$221

7 0
2 years ago
3. This year, Paula and Simon (married filing jointly) estimate that their tax liability will be $200,000. Last year, their tota
choli [55]

Answer:

When a taxpayer has an underpayment of estimated tax or fall behind on his/her tax prepayment, then he/she is required to pay a penalty on Form 2210. This penalty is called underpayment penalty.

According to the tax laws, Mr. P and Ms. S can avoid an underpayment penalty if their withholding's and estimated tax payments equal or exceed one of the following two safe harbors:

  • 90 percent of current tax liability ($200,000 x 90% = $180,000)
  • 110 percent of previous year tax liability (110% x $170,000 = $187,000)

From the above calculation, it is clear that Mr. P and Ms. S's withholding's ($175,000) do not equal or exceed the amount of two safe harbors. So, they need to increase their withholding's or make estimated payments to avoid underpayment penalty.

If Mr. P and Ms. S increase their withholding's by $5,000 or make estimated payments of $1,250

per quarter ($5000/4), they can avoid the underpayment penalty.

Mr. Paula and Simon average gross income is greater than $150,000, so 110% is taken.

7 0
3 years ago
Read 2 more answers
The following is a condensed version of the comparative balance sheets for Sweet Corporation for the last two years at December
notsponge [240]

Answer:

Cash flow from operating activities

Net income                                                      $352,000

<u><em>Adjustment to reconcile net income to </em></u>

<u><em>net Cash flow from operating activities</em></u>

Depreciation expense                                    $26,350

Loss on investment sold                                 $15,500

Decrease account receivable                         $7,750

Decrease current liabilities                            <u>-$26,350</u>

Net cash flow from operating activities                              $348,250

Cash flow from investing activities

Sale of investment                                           $12,100

Purchase of equipment                                 -<u>$89,900</u>

Net cash used investing activities                                       -<u>$77,800</u>

Cash flow from financing activities

Dividend paid                                                  -$66,000  

Net cash used financing activities                                       -<u>$66,000</u>

Net cash increase (decrease)                                              $204,450

Beginning Cash                                                                     <u>$120,900</u>

Ending Cash                                                                          <u>$325,350</u>

6 0
2 years ago
Other questions:
  • Mike is considering investing $18,500 in an investment that will have a maturity value of $32,500 in 8 years. if the interest is
    8·1 answer
  • Every tangible product is made up of what
    6·1 answer
  • The lower of cost and market value (net realizable value) rule causes losses in the value of inventory to be recognized in the p
    9·1 answer
  • Kent Manufacturing produces a product that sells for $64.00 and has variable costs of $35.00 per unit. Fixed costs are $348,000.
    10·1 answer
  • What is word processing
    14·2 answers
  • When transportation costs are added to production costs, it becomes unprofitable to ship some products over a large distance. Th
    13·1 answer
  • Match the following definitons with appropriate options given in below:
    5·1 answer
  • Suppose a market is initially in equilibrium and demand decreases. The producer surplus will:_____.
    9·1 answer
  • Shiny Industries producers of crab meat can issue perpetual preferred stock at a price of $31.86 per share. The stock would pay
    15·1 answer
  • Julia owes her dad $12. She wants a new blouse that just went on sale, so she borrows $20 from her sister. She pays her father $
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!