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gregori [183]
3 years ago
9

The maximum number of actual shareholders in an s corporation is

Business
1 answer:
Ede4ka [16]3 years ago
5 0
S corporation is a special structure of business ownership which <span>is not required to pay corporate income tax on the profits of the company. </span>
The maximum number of actual shareholders in an s corporation is 100. <span>100 shareholders or less have the benefit of incorporation while being taxed as a partnership.</span>
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A merchandiser returned inventory worth $1,400 that was purchased on account. Under the periodic inventory system, the joumal
cestrela7 [59]

Answer:

a debit to Accounts Payable for $1,400 and a $1,400 credit to Purchase Returns allowances

Explanation:

Periodic inventory system is one that updates information on inventory on a periodic basis. This is opposite of perpetual inventory system that requires update of inventory system at all times.

In the scenario the merchandiser bought the goods on account. That means he did not pay cash but rather bought on credit.

On purchasing the items accounts payable will be credited thereby increasing the account balance.

Since the items are being returned a debit will be applied to accounts payable resulting in a decrease in the account balance.

A credit will now be posted to purchase returns allowances to show that products have been returned by a buyer

4 0
2 years ago
Lakeside Company's schedule of cost of good manufactured include the following for April:Cost of Goods Manufactured $69,300Direc
vichka [17]

Answer:

Work in process inventory at April 30 is $4,700

Explanation:

In this question, we apply the cost of goods manufactured formula which is shown below:

Cost of goods manufactured = Opening balance of work in progress  + total manufacturing cost - ending balance of work in progress

where,

Total manufacturing cost =  Direct material + direct labor + overhead

                                          = $27,000 + $30,000 + $8,000

                                           = $65,000

So, the ending balance work in progress equal to

=  $9,000 + $65,000 - $69,300

=  $4,700

3 0
2 years ago
When the pizzeria makes 100 pizzas per day, it earns an economic ______ of ______?
Alex17521 [72]
<span>When the pizzeria makes 100 pizzas per day, it earns an economic incentive of 10% of sales from corporate. This is be cause corporate knows general advertising can only do so much. Local franchises need to take up some of the slack, post their own signs, and do some the legwork to get people in the door. If they can get at least 100 pizzas sold per day it's an obvious sign to corporate thay they must be putting in the extra effort. Extra effort means more money for corporate so they provide extra incentive to motivate the masses :)</span>
5 0
3 years ago
explaining the evolution of money commodity money, because it is valued more highly, tends to drive out paper money. paper money
Pachacha [2.7K]

Answer:

This is the complete answer and answer choices arranged properly

- In explaining the evolution of money:

A) government regulation is the most important factor.

B) commodity money, because it is valued more highly, tends to drive out paper money.

C) new forms of money evolve to lower transaction costs.

D) paper money is always backed by gold and therefore more desirable than checks.

The answer is:

C) New forms of money evolve to lower transaction costs

Explanation:

Money is the current medium of exchange worldwide in the form of coins and banknotes known as currency and varies from country to country. It evolved from being a commodity good, to metallic coin, bank, note, check, and plastic money in the form of cards.

Transactions between individuals were based on trade by barter, a system of exchanging goods between individuals who has a particular good but desire another to exchange the goods he has with another person who has the goods he desires, before the advert of money.

This system of trading by barter is limited in that it only allow for two people who have possession of goods that compliment what the other person is looking for and then locate each other.

With trading by barter, high transaction costs, exchange of goods was difficult and being unable to be carried out.

Money then evolve to lower this transaction costs and make exchange of goods possible without needing to have what another person wants and the trouble of finding them.

The evolution of money allowed individuals to enables and promote economic transactions and lowered the costs ingrained to those operations.

3 0
3 years ago
Read 2 more answers
On December 31, 2020, the Bennett Company had 105,000 shares of common stock issued and outstanding. On July 1, 2021, the compan
fredd [130]

$4.40 per share

Explanation:

The computation of the earning per share is shown below:

Earning per share = (Net income - preference dividend) ÷ (Weighted average of number of shares)

where,

Net income is $640,000

Preference dividend is $72,000

And, the weighted average number of share is

= 120,000

6 0
2 years ago
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