Lexington company borrows $10,000 from a bank by signing a promissory note. Increased assets and increased liabilities are the effects of this transaction on the accounting equation.
A company is a legal entity or legal entity established under the Companies Act. It may be a limited or unlimited company, a private or public company, a limited liability company or company with share capital, or a company of common interest. A legal entity is a type of legal entity structure that is a separate legal entity from its owner. This is a complex business structure, with additional reporting requirements and invalid legal obligations making it expensive to set up and manage.
A corporation is a legal entity distinct from its owners, managers, operators, employees, and agents. Legal entities have the same powers as individuals, including the right to own and dispose of property, the power to sue and be sued, and the power to contract for a profit. A business example is an agriculture. An example transaction is the sale of a home.
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Answer:
Calculate the self-employment tax for 2019 as follows:
Schedule C net income = $144,400
Less: Self-employment adjustment ($144,400 x 7.65%) = $11,046.6
Taxable self-employment earnings = $133,353.40
Self-employment tax rate = 15.30%
Total self-employment tax = $20,403.10
Therefore: the total self-employment tax is $20,403.10
Answer:
In equilibrium the maximum price set for a broken laptop to be sold is $600
Explanation:
According to the given data we have the following:
It is given that 40% laptops are in good condition. This implies that 60% are in bad condition.
In ordert to calculate the maximum price set for a broken laptop to be sold we would have to calculate the expected price that the buyers will be willing to pay for a laptop as follows:
Expected price=0.60($2000)+0.40($600)
Expected price=$1,200+$240
Expected price=$1,440
As the owners of good laptops are willing to sell their laptops for $1,800, whis is more that $1,440, they will not sell their products.
This implies that only bad laptops are sold in the market. The willingless to pay for the bad laptops is $600
Therefore, In equilibrium the maximum price set for a broken laptop to be sold is $600
Answer:
Christie Koorts the Chief Information Officer, Justin Crowhurst the Chief Financial Officer Woolworths, and Charmaine Huet the Chief Marketing Officer.
