Drew monthly net income is 800 what is the maximum he should use on debt payments

Nona Curry started her own consulting firm, Larkspur, Inc., on May 1, 2022. The following transactions occurred during the month

hodyreva [135]

Answer:

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Explanation:

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8 0

3 years ago

Classify this form of business:

Viktor [21]

Answer:

Limited Liability Partnership / Limited Liability Company.

Explanation:

Limited Liability Partnership: A limited liability relationship is a company in which certain or all members have defined obligations, based on the law. Consequently, it can show collaboration and organizational features. Each partner in an LLP is not accountable or liable for any wrongdoing or incompetence of another party.

Limited Liability Company: A limited liability company is a management structure whose proprietors are not personally responsible for the obligations or responsibilities of the business. Limited liability corporations are hybrid organizations that combine a company's features with that of a partnership or sole business entity.

7 0

2 years ago

Faith Cassen has recently been hired as the manager of Gibraltar Coffee Shop. Gibraltar Coffee Shop is a national chain of franc

IrinaK [193]

Answer:

a. I Disagree with Faith's method of handling this situation because she has not followed the internal control principle of safeguarding of assets. Stealing is a serious issue. An employee who can justify taking a box of tea bags can probably justify “borrowing” cash from the cash register.

b. I Agree with Faith's method of handling this situation because Faith has followed the internal control principle of assignment of responsibility by making one employee responsible for the cash drawer and followed the internal control principle of segregation of duties (preparing the orders) from the accounting (taking orders and payments).

c. I disagree with Faith's method of handling this situation because Faith has not followed the internal control principle of segregation of duties. It is true that faith has made one employee responsible however after cash counting another employee or Faith himself remove the cash register tape and compare the balance with cash drawer for effective internal control. Also, Faith’s standard of no mistakes may encourage the cashiers to overcharge a few customers in order to cover any possible shortages in the cash drawer.

6 0

3 years ago

Airline CF leases all its aircraft under capital / finance leases. Airline O leases all its aircraft under operating leases. Ass

N76 [4]

Answer:

Airline CF and Airline O

The true comment is:

a. None of the listed answers

Explanation:

Under finance lease, Airline CF will recognize an asset, a balance sheet account, which it depreciates periodically, while under operating lease, Airline O will only recognize expenses for the rental payments, an income statement item. Airline CF pays annual lease payments (repayment of lease liability and interest expense). Airline O pays rental expenses only.

3 0

3 years ago

Hodgkiss corporation is evaluating an extra dividend versus a share repurchase. in either case, $27,000 would be spent. current

inn [45]

If extra dividend is given,

Dividend per share = Net income / Number of shares outstanding

Dividend per share = $ 27,000 / 4,500 shares

Dividend per share = $ 6 per share

Now. the price will reduce by $ 6 per share

Earnings per share will be $ 2.70 per share.

Price earnings ratio = New price / Earnings per share

Price earnings ratio = $ 96 - $ 6 / $ 2.70 = 33.33

If the shares were purchased from $ 27,000 -

Number of shares purchased = $ 27,000 / $ 96 = 281.25 or 281 shares

Total earnings = $ 2.70 X 4,500 shares = $ 12,150

New EPS = $ 12,150 / (4500 shares - 281 shares) = $ 2.88 per share

New Price earnings ratio = Price / Earnings per share

New Price earnings ratio = $ 96 / $ 2.88 = 33.33

8 0

3 years ago