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3 years ago

4. Discuss four sources of financing for starting up a small business.

Business

1 answer:

Karolina [17]3 years ago

6 0

LENDING REDEFINED

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Professional and Personal Service

NO Collateral Requirements

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We offer short term loans ranging from $5,000 - $600,000 that can cover a number of needs like renovations, inventory, storage, or perhaps new equipment to give your company the edge it needs.

Hope this helps!!!

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Agee Storage issued 33 million shares of its $1 par common stock at $21 per share several years ago. Last year, for the first ti

Tpy6a [65]

Answer:

$23 million

Explanation:

Calculation to determine at what amount will Agee’s total paid-in capital decline

First step is to calculate the Cash paid for the first repurchase

Cash paid for the first repurchase = 1 million * 19

Cash paid for the first repurchase = $19 million

Second step is to calculate the Value of first purchase

Value of first purchase = 1 million * 21

Value of first purchase = $21 million

Third step is to calculate the Benefit on first repurchase

Benefit on first repurchase = 21 million - 19 million

Benefit on first repurchase = $2 million

Fourth step is to calculate Cash paid for second repurchase

Cash paid for second repurchase = 1 million * 24

Cash paid for second repurchase = $24 million

Fifth step is to calculate the Value of second purchase = Reacquired shares * Common stock price

Value of second purchase = 1 million * 21

Value of second purchase = $21 million

Last step is to calculate the Decline in total paid-in capital using this formula

Decline in total paid-in capital= Benefit on first repurchase + Value of second purchase

Decline in total paid-in capital = 2 million + 21 million

Decline in total paid-in capital = $23 million

Therefore what amount will Agee’s total paid-in capital decline is $23 million

8 0

2 years ago

Ruth, who files as head of household, reported itemized deductions of $9,450 on her 2017 tax return. Her itemized deductions inc

GarryVolchara [31]

Answer:

Plz show a diagram

Explanation:

5 0

3 years ago

Which of these is most likely to make you sleepy while you’re reading?

irinina [24]

answer options ? I cant answer without options lol

4 0

3 years ago

Harris Company uses the allowance method of handling its credit losses. It estimates credit losses at one percent of credit sale

likoan [24]

Answer:

Dec.31 Bad Debts Expense 27000

December 31 Balance Sheet Accounts Receivable 392400

Explanation:

Harris Company

Credit Sales for the current year $2700,000

Credit Losses = 1% of $ 2700,000= $ 27000

Add Allowance for Doubtful Accounts $ 30600 Cr

Required Adjustments $ 57,600 Cr

General Journal

Date Description Debit Credit

Dec.31 Bad Debts Expense 27000

Allowance for Doubtful Accounts 27000

December 31 Balance Sheet.

Accounts Receivable $450,000

Less: Allowance for Doubtful Accounts $57,600 ( 27000+ 30,600)

Accounts Receivable 392400

6 0

3 years ago

On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash $ 66,000 Maria Lopez, Drawing $

vlada-n [284]

Answer:

1. Dec 31, 2019

Dr Fees Income $107,500

Cr Income Summary $107,500

2. Dec 31, 2019

Dr Income summary 60,000

Cr Salaries expense 34,000

Cr Supplies expense 6,000

Cr Utilities expense 9,300

Cr Telephone expense 5200

Cr Depreciation expense 5500

3. Dec 31, 2019

Dr Income summary 47,500

Cr Retained earnings 47,500

4. Dec 31, 2019

Dr Maria lopez, capital 52,000

Cr Maria lopez, drawing 52,000

Explanation:

Preparation of the closing entries for the above transactions

1. Dec 31, 2019

Dr Fees Income $107,500

Cr Income Summary $107,500

(To close revenue account)

2. Dec 31, 2019

Dr Income summary 60,000

(5500+5200+9300+6000+34000)

Cr Salaries expense 34,000

Cr Supplies expense 6,000

Cr Utilities expense 9,300

Cr Telephone expense 5200

Cr Depreciation expense 5500

(To close expenses account)

3. Dec 31, 2019

Dr Income summary 47,500

($107,500-60,000)

Cr Retained earnings 47,500

(To close income summary account)

4. Dec 31, 2019

Dr Maria lopez, capital 52,000

Cr Maria lopez, drawing 52,000

(To close drawings account)

6 0

2 years ago