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2 years ago

Which is the simplest option that sole proprietors can use to post an advertisement about the sale of their small businesses?

2 answers:

6 0

Sole Proprietor who have small business, and cannot afford to advertise their small business through television or other electronic media, can advertise about their business in the Classified section of their local newspaper.

Classified section is meant for the business ads. So the sole proprietor who wishes to advertise his small business can easily post an ad about their business to the prospect audience.

Natalka [10]2 years ago

4 0

Business Classifieds Section which has advertisements and announcements about local businesses.

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Which of the following describes accrued revenue? (Check all that apply) Multiple select question. The adjustment causes an incr

vaieri [72.5K]

Answer:

The adjustment causes an increase in an asset account and an increase in a revenue account.
Accounts receivable is usually increased when accruing revenues.
They refer to revenues that are earned in a period, but have not been received and are unrecorded.
They refer to earnings which have been earned but not yet billed.

Explanation:

Accrued revenue refers to cash earned for selling a good or delivering a service yet the cash has not been received and the transaction was not recorded in the books as revenue. This means that the cash has been earned but it has not been billed to the customer it was earned from.

When the books are being adjusted for this, the accounts receivable - which is an asset account - will increase to show that cash is owed. Revenue will also increase as this was cash earned from delivering a good or service.

6 0

2 years ago

Hank is a U.S. citizen and is doing a three to six-year assignment as a sales executive in Paris for a French company, which beg

Maurinko [17]

Answer:

The answer is: E) None of his salary can be excluded from gross income because Hank must reside overseas for the entire year

Explanation:

According to the IRS's Foreign Earned Income Exclusion (and Requirements) a US citizen can claim up to $105,900 (in 2019) of his gross income to be excluded from gross income in the US only if that person resided in the foreign country for at least 330 days in the last year.

3 0

3 years ago

Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$20 par value, 10

gogolik [260]

Answer:

1. See the attached excel file for the journal entries.

2. Ending balance of retained earning is $346,125

3.Total Stockholder's Equity is $1,616,125

Explanation:

1. Prepare journal entries to record each of these transactions.

Note: See the attached excel file for the journal entries.

The following are tge workings:

w.1: Treasury stock = $5,000 * $20 = $10,000

w.2: Dividend payable = (Issued and outstanding shares - Shares repurchase) * Dividend per share = (60,000 - 5,000) * $4 = 55,000 * $4 = $220,000

w.3: Cash = Number of shares sold * Selling price per share = 1,875 * $24 = $45,000

w.4 = Treasury stock = Number of shares sold * Treasury price per share = 1,875 * $20 = $37,500

w.5: Additional paid in capital = Number of shares sold * (Selling price per share - Treasury price per share) = 1,875 * ($24 - $20) = $7,500

w.6: Cash = Number of shares sold * Selling price per share = 3,125 * $17 = $53,125

w.7 = Treasury stock = Number of shares sold * Treasury price per share = 3,125 * $20 = $62,500

w.8: Balancing figure = Treasury stock (w.7) – Cash (w.7) - Additional paid in capital (w.5) = $62,500 - $53,125 - $7,500 = $1,875

w.9: Dividend payable = (Issued and outstanding shares * Dividend per share = 60,000 * $4 = $240,000

2. Prepare a statement of retained earnings for the year ended December 31, 2019.

Kohler Corporation

Statement of Retained Earnings

On December 31, 2019

Particulars Amount ($)

Opening balance 400,000

Income for the year 408,000

Dividend Paid (220,000 + 240,000) (460,000)

Loss on sale of treasury stock (1,875)

Ending balance  346,125 

3. Prepare the stockholders’ equity section of the company’s balance sheet as of December 31, 2019.

Kohler Corporation

Stockholder Equity Section of Balance sheet

At December 31, 2019

Particulars Amount ($)

Common stock issued ($20 * 60,000) 1,200,000

Paid-in capital in excess of par v - c. stock 70,000

Total contributed Capital 1,270,000

Retained Earnings 346,125

Total Stockholder's Equity  1,616,125 

Download xlsx

3 0

2 years ago

PC Bell, a computer manufacturer that sells computer systems directly to customers, buys a computer chip for $180, software for

Colt1911 [192]

Answer:

Price at which this system is sold is $1,980

so correct option is B. $1,980

Explanation:

given data

computer chip = $180

software = $350

printer = $50

value added = $1,400

to find out

price at which the system is sold

solution

Price at which this system is sold is

system is sold = computer chip + software + printer + value added

Price at which this system is sold is = $180 + $350 + $50 + $1,400

Price at which this system is sold is $1,980

so correct option is B. $1,980

3 0

2 years ago

Some cafes that sell espresso drinks teach their employees wrist and arm relaxation exercises because the repetitive motions req

marta [7]

Answer: Risk prevention

Explanation: In simple words, risk prevention refers to a risk management strategy in which an organisation takes some actions or conduct different activities to minimize or diminish the potential harm that may or may not occur in the future.

Usually the problems for which such strategy is used, have high probability of happening, thus, companies prefers to take disciplinary actions in advance rather than corrective actions in future.

In the given case, the cafes knows that their employees could get injured due to repetitive motions thus they were conducting exercises for relaxation.

Hence we can conclude that they are doing risk prevention.

5 0

2 years ago