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4 years ago

Outline the benefit of running a business

Business

2 answers:

steposvetlana [31]4 years ago

7 0

Answer:

Explanation:

"Owning and running your own business can be more satisfying and fulfilling than working for someone else. Many successful small business owners find they enjoy the respect they earn from their peers for having the courage to go out on their own. Power. Don't be surprised if power is one of your goals."

JulijaS [17]4 years ago

3 0

Answer:

Owning a small business gives you certain lifestyle advantages. Because you're in charge, you decide when and where you want to work. ... In spite of high financial risk, running your own business gives you a chance to make more money than if you were employed by someone else. You benefit from your own hard work.

Explanation:

hope this helps

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The following units of an inventory item were available for sale during the year:Beginning inventory 10 units at $55First purcha

Leto [7]

Answer:

$1150.

Explanation:

Given: Beginning inventory 10 units at $55

First purchase 25 units at $60

Second purchase 30 units at $65

Third purchase 15 units at $70.

First, lets calculate total units of inventory available.

Total inventory available for sales during the year= $(10+25+30+15)= 80\ units$

∴ Total inventory available for sales during the year= 80 units

As given 60 units were sold out of total 80 units.

$80-60= 20\ units$

∴ 20 units of inventory is still remaining.

To determine the cost of unit sold, under LIFO accounting, you start with assumption that you have sold the most recent inventory and work backward.

As 20 units is still available after selling 60 units.

∴ The value of ending inventory= $(10\ units \times \$60 + 10\ units \times \$55)$

The value of ending inventory= $\$600+\$550= \$ 1150$

∴ The value of ending inventory using LIFO is $1150.

6 0

3 years ago

When boot is involved in an exchange having commercial substance:_______

jasenka [17]

Answer: gains or losses are recognized in their entirety.

Explanation:

When boot is involved in an exchange having commercial substance, we should note that boot in this scenario refers to cash.

We should note that when cash is involved in an exchange that has commercial substance, it's either a gain or loss is made.

Therefore, the correct option is B.

8 0

3 years ago

Compare and contrast the three most common types of healthcare indemnity plans.

Vladimir79 [104]

OK THE COMARE IS THAT YOU DONT KNOW AND THE REST IS NOTHING

8 0

3 years ago

Brief Exercise 259 Mintz Company issued $400,000, 10%, 10-year bonds on January 1, 2017, at 105. Interest is paid annually on De

Ira Lisetskai [31]

Answer:

Dr cash $420,000

Cr bonds payable $400,000

Cr premium on bonds payable $20,000

Dr interest expense($40000-$2,000) $38,000

Dr premium on bonds payable $2,000

Cr cash $40,000

Explanation:

The bond price is the pv of all cash inflows promised by the bond which includes annual coupon and repayment of face value at redemption:

bond price=face value *105%

bond price=$400,000*105%=$420000

The cash proceeds from the issue would be debited to cash while bonds payable is credited with $400,000 and premium on bonds payable is credited with $20,000.

amortization of premium=$20,000/10=$2,000

interest payment=10%*$400,000=$40,000

8 0

3 years ago

Ramon, a single taxpayer with no dependents, has adjusted gross income for 2019 of $98,000 and his itemized deductions total $19

hammer [34]

Answer:

$79,000

Explanation:

The computation of the taxable income is shown below:

Taxable income = Adjusted gross income for 2019 - his itemized total deductions

= $98,000 - $19,000

= $79,000

The Ramon is not given any personal exemption because from the year 2018 to the year 2025, no personal exemption is allowed as new tax rules are implemented.

8 0

3 years ago