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
Ganezh [65]
3 years ago
9

Jack owns and runs a bookstore. He looks after the accounts of the business and also purchases books from publishers. Sometimes

his brother helps him with the customers, though he does not own the business with Jack. Which type of business ownership does Jack own?
A.
partnership
B.
corporation
C.
company
D.
sole proprietorship
Business
1 answer:
Sunny_sXe [5.5K]3 years ago
4 0

company is the answer



You might be interested in
Splish Brothers Inc. began operations on April 1 by issuing 52,300 shares of $5 par value common stock for cash at $15 per share
Ahat [919]

Answer:

Date    Account titles and Explanation               Debit        Credit

Apr 1    Cash                                                        $679,900

                  Common stock                                                    $261,500

                  (52,300*5)

                  Paid in common stock in excess of par             $418,400

                  (52,300*$13-$5)

            (To record common stock issued)

Apr 19   Organisation expenses                         $28,900

                  Common stock                                                     $9,000

                  (1800*5)

                  Paid in common stock in excess of par              $19,900

            (To record issuance of comm1,100on stock for attorney.s fees)

Apr 19    Cash (1,100*$6)                                      $6,600

                  Preferred stock (1,100*$1)                                     $1,100

                  Paid in preferred capital in excess of par            $5,500

            (To record common preferred stock for cash)

7 0
3 years ago
When qualifying a buyer using the Fannie Mae guidelines, what is the ratio allowed for the amount of money for housing expense c
vfiekz [6]

Answer:

28%

Explanation:

Most mortgage lenders, including Fannie Mae, use the 28/36 rule. That rule states that a family should spend no more than 28% of the gross monthly income (GMI) on housing expenses, and pay no more than 36% of GMI to cover debts (mortgage payments are included in this 36%).

Statistics show that households that do not comply with the 28/36 rule, tend to have difficulty paying back loans.

8 0
3 years ago
Juniper Company uses a perpetual inventory system and the gross method of accounting for purchases. The company purchases $9,750
docker41 [41]

Answer:

The journal entries for the whole transaction are:

August 7, 202x, merchandise purchased on account, terms 1/10, n/30

Dr Merchandise inventory 9,750

    Cr Accounts payable 9,750

August 11, 202x, partial return of purchased merchandise

Dr Accounts payable 1,500

    Cr Merchandise inventory 1,500

August 16, 202x, invoice is paid within discount period

Dr Accounts payable 8,250

    Cr Cash 8,167.50

    Cr Purchase discounts 82.50

8 0
3 years ago
What is the primary goal of the purchasing process?
8_murik_8 [283]
Answer : ensure uninterrupted flows of raw materials at the lowest total cost, improve total cost,improve quality of the finished goods produced,and maximize customer satisfaction
8 0
3 years ago
47.Acme Company has authorized 100,000 shares of common stock, of which 75,000 shares were originally issued. As of December 31,
kkurt [141]

Answer:

Number of shares outstanding on December 31, 20X1:

Number of shares issued                     75,000 shares

Less: Number of shares repurchased <u>5,000</u> shares

Number of shares outstanding           <u>70,000</u> shares

Explanation:

The number of shares outstanding on December 31, 20X1 is the difference between the number of shares issued and the number of shares repurchased by the company and held as treasury stock.

4 0
3 years ago
Other questions:
  • If a competitive firm can sell a bushel of soybeans for $25 and it has an average variable cost of $24 per bushel and the margin
    9·1 answer
  • Looking forward to next year, if Baldwin's current cash balance is $25,719,453 and Cash Flows From Operations next period are un
    12·1 answer
  • A house is to be purchased for $180,000 with a 10% down payment, thereby fi nancing $162,000 with a home loan and mortgage. Ther
    10·1 answer
  • This is a match question im offering 25 points too cuz ik ppl don't really like this kind but bear with me!
    12·1 answer
  • Methods of determining Capital Requirements
    9·1 answer
  • Social capital is the major component of what accountants call _____, and it can be found on business's balance sheet.A. doubtfu
    10·1 answer
  • A work-at-home opportunity is available in which you will receive 2 percent of the sales for customers you refer to the company.
    15·1 answer
  • Waterloo, Ltd. manufactures a component used in aircraft navigation systems. Demand has been strong and the executive staff at W
    7·1 answer
  • James is the new manager of operations at Springfield Motors. To his dismay, he finds the employees coming in late to work, taki
    11·1 answer
  • Who is the founder of royal crown hotel ??
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!