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4 years ago

What is the difference between a sole proprietorship and an LLC?

1 answer:

7 0

Sole proprietorship is owned by one person. Why LLC is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation

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The Lending Club removed CEO Renaud Laplanche in 2016. Hans Morris, the company executive chairman, lauded him, saying his entre

Shkiper50 [21]

Answer:

Option B

Explanation:

In simple words, The key responsibility of an institution's board of directors is to spend time to determine that every other board member is emotionally involved and interested in the company's objectives is invested well. When the board members are fully committed, they will become the strongest leaders, champions, strategists, and sponsors around the charity.

Thus, from the above we can conclude that the correct option is B.

8 0

3 years ago

Schrute Farm Sales buys portable generators for $ 470 and sells them for $ 720 He pays a sales commission of 5% of sales revenu

tigry1 [53]

Answer:

The contribution margin statement is found below with a contribution margin of $149,800 and operating income of $145100

Explanation:

Contribution Margin Statement

Sales revenue ($720*700) $504000

Variable costs:

Cost of generators($470*700) ($329000)

Commission(5%*$504000) <u> ($25200)</u>

Contribution margin $149,800

Fixed costs

Rent ($3000)

Additional commission <u> ($1,700)</u>

Operating income $145100

Cost of rent is fixed as it is not depended on the quantity of generators sold.

Additional commission is fixed amount,so it is a fixed cost, while costs of buying generators as well as the commission of 5% are both variable costs.

5 0

3 years ago

List some career paths that involve little to no paper work

rosijanka [135]

Answer:

not sure if this helps but here :D

Explanation

being an assistant is great for your record for when you want to change a job . another good job is working with food at cafes or fast food this has little or no paper work! also another good way is babysitting (if you like kids).

I hope this helped :D

7 0

3 years ago

On July 1, 2019, Bronson Co. purchased some equipment that initially cost $52,800. Additional costs included freight costs $300,

Lostsunrise [7]

Answer:

Depreciation Expense = $5800

Explanation:

As per the data given in the question,

Initial cost = $52,800

Freight cost = $300

Non-refundable tax = $6,400

Installation = $500

Estimated residual value = $2,000

Rate = 10%

So total cost of assets = $52,800 + $300 + $6,400 + $500

= $60,000

As per the following formula,

The straight line depreciation expense = (Cost- Residual value) × Straight line depreciation rate

=($60,000 - $2,000) × 10%

=$58,000 × 10%

=$5,800

8 0

3 years ago

Suppose the spot exchange rate for the Hungarian forint is HUF 203.86. The inflation rate in the United States will be 1.2 perce

Goryan [66]

Answer:

(1) Exchange Rate in 1 year = HUF 209.90 / $ (2)Exchange Rate in 2 years = HUF 216.12 / $ (3)Exchange Rate in 5 years = HUF 235.92 / $

Explanation:

Solution

Given that:

The Spot Rate = HUF 203.86 /$

This implies that 1 dollar is equivalent to 203.86 Hungarian Forint

Now

(1) The exchange rate in one year

The Purchasing power parity equation is shown below:

Thus

E(S1) / S0 = (1 + RA) / (1 + RB)

Here

E(S1) = Expected Spot Rate of Year 1

S0 = Current Spot Rate - 203.86

RA = Inflation Rate in Hungary - 4.2%

RB = Inflation Rate in United States - 1.2%

Hence

The Exchange Rate in 1 year will be :

E(S1) / S0 = (1 + RA) / (1 + RB)

E(S1) / 203.86 = (1 + 0.042) / (1 + 0.012)

E(S1) / 203.86 = 1.042 / 1.012

E(S1) = (1.042 * 203.86) / 1.012

E(S1) = 209.90

Exchange Rate in 1 year is HUF 209.90 / $

(2)The exchange rate in 2 years

Thus

E(S2) / S1 = (1 + RA) / (1 + RB)

E(S2) = Expected Spot Rate of Year 2

S1 = Spot Rate of Year 1 - 209.90

RA = Inflation Rate in Hungary - 4.2%

RB = Inflation Rate in United States - 1.2%

Hence

The exchange rate in 2 years is HUF 216.12 / $

(3) Exchange Rate in 5 years

The first step here is to compute the expected spot rate of year 3 and year 4 respectively

So,

E(S3) / S2 = (1 + RA) / (1 + RB)

E(S3) = Expected Spot Rate of Year 3

S2 = Spot Rate of Year 2 - 216.12

RA = Inflation Rate in Hungary - 4.2%

RB = Inflation Rate in United States - 1.2%

E(S3) = (216.12 * 1.042) / 1.012

E(S3) = 222.53

E(S4) / S3 = (1 + RA) / (1 + RB)

Now

E(S4) = Expected Spot Rate of Year 4

S3 = Spot Rate of Year 3 - 222.53

RA = Inflation Rate in Hungary - 4.2%

RB = Inflation Rate in United States - 1.2%

E(S4) = (222.53 * 1.042) / 1.012

E(S4) = 229.13

Thus

The exchange rate in year 5 is given below:

E(S5) / S4 = (1 + RA) / (1 + RB)

E(S5) = Expected Spot Rate of Year 5

S4 = Spot Rate of Year 4 - 229.13

RA = Inflation Rate in Hungary - 4.2%

RB = Inflation Rate in United States - 1.2%?

E(S5) = (229.13 * 1.042) / 1.012

E(S5) = 235.92

Therefore the exchange rate in 5 years is HUF 235.92 / $

6 0

4 years ago