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3 years ago

A disadvantage to joining a family business is that _____.

Business

2 answers:

Papessa [141]3 years ago

5 0

The correct answer is B. Family relationships may be negatively affected

Explanation:

In a family business, responsibilities, tasks, and roles are fulfilled by different members of the same family. This has some advantages such as commitment from the members participating, flexibility in roles and tasks, teamwork, and distribution of responsibilities including financing.

However, family businesses have some disadvantages; one of the most important is that it can affect family relationships negatively. This occurs when conflicts in the business that should affect only the business area end in personal conflicts; this makes conflicts to be more difficult to solve or to affect personal relationships. Thus, one disadvantage of joining a family business is that family relationships may be negatively affected.

miv72 [106K]3 years ago

4 0

A disadvantage to joining a family business is that: c. one individual must take on all of the financing responsibilities.
Another disadvantage are you can feel trapped, you have no oppurtunity to advancement.

hope this help

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On November 1, 2017, Blue Company borrowed from Yellow Bank and received a 9-month note for $60,000 at a 5% interest rate. Inter

frutty [35]

Answer:

In the books of Blue Company:

November 1, 2017:

Debit Cash $60,000

Credit Note payable $60,000

(To record borrowed note from Yellow Bank)

December 31, 2017:

Debit Interest expense $500

Credit Interest payable $500

(Interest expense recognition on note for 2 months)

August 1, 2018:

Debit Note payable $60,000

Debit Interest payable $2,250

Credit Cash $62,250

(To record settlement of note at maturity)

In the books of Yellow Bank:

November 1, 2017:

Debit Note receivable $60,000

Credit Cash $60,000

(To record note receivable from Blue Company)

December 31, 2017:

Debit Interest receivable $500

Credit Interest revenue $500

(Interest revenue recognition on note for 2 months)

August 1, 2018:

Debit Cash $62,250

Credit Note receivable $60,000

Credit Interest receivable $2,250

(To record note collection at maturity)

Explanation:

Note receivable is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.

Interest expense / revenue on the notes is calculated as: Principal x Interest Rate x Time

In this case, the total interest expense / revenue is $60,000 x 5%/12 x 9 months = $2,250.

Monthly interest expense / revenue is therefore $2,250 / 9 months = $250.

Therefore, interest expense / revenue recognition for 2 months will be $250 x 2 months (November 1 - December 31) = $500.

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Answer:

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torisob [31]

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1 year ago

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grandymaker [24]

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