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3 years ago

Which of the following is one of the advantages of forming a corporation?

Business

2 answers:

Ivanshal [37]3 years ago

8 0

Answer:

1) B 2) Nonprofit corporation

Explanation:

1) By forming a Corporation your company will have uncountable partners, after making an IPO Initial Public Offer in Stock Market. That's why Corporations, among other reasons, can raise more money than other companies.

So, it's B, The ability to sell stock to raise funds

2) A nonprofit organization must reinvest its eventual profits, in the Corporation. By law, and specific regulations, these companies must solely reinvest in themselves.

So, it's A nonprofit corporation.

s344n2d4d5 [400]3 years ago

5 0

B a non-profit corporation

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Your customer, age 68, that has an IRA account at your firm valued at $500,000, passes away. The customer leaves the account to

schepotkina [342]

Answer:

He should roll the funds over into a new IRA in the spouse's name

Explanation:

Since the son is expects to retire in 22 years, in which at that time he will be in need of the funds to pay for his or his Family annual living expenses the best advice I would give the son is for him to roll all the funds over into a new IRA in the name of spouse's because the IRA Account which is fully known as INDIVIDUAL RETIREMENT ACCOUNT is an individual retirement plan that can help to provides all tax the advantages that an individual needs for their retirement savings.

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3 years ago

QS 9-9 Recording warranty repairs LO P4 On September 1, Home Store sells a mower (that costs $220) for $520 cash with a one-year

yKpoI14uk [10]

Answer and Explanation:

The journal entries are shown below:

On September 1

Cash $520

Sales $520

(Being the sale is recorded)

On September 1

Cost of goods sold $220

To Merchandise inventory $220

(Being the cost is recorded)

On September 1

Warranty expense $41.6 ($520 × 8%)

To Estimated warranty liability $41.60

(Being the warranty expense is recorded)

On July 24

Estimated warranty liability $36

To Repair parts inventory $36

(Being the estimated warranty liability is recorded)

6 0

2 years ago

The Fabricating Department started the current month with a beginning Work in Process inventory of $11,200. During the month, it

SVETLANKA909090 [29]

Answer:

The ending balance of the Work in Process Inventory account for the Fabricating Department is: $11,200

Explanation:

To determine Ending Balance of Work in Process Inventory, Prepare a Manufacturing Cost Statement.

Opening Work in Process Inventory $11,200

Add Cost Added During the Period :

Direct materials $77,200

Direct labor $25,200

Factory overhead ( $25,200 × 50%) $12,600

Total Manufacturing Costs $126,200

Less Transfer to Next Department ($115,000)

Closing Work in Process Inventory $11,200

Conclusion :

Therefore, the ending balance of the Work in Process Inventory account for the Fabricating Department is: $11,200

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2 years ago

The term __________ refers to the supplemental information provided in a proposal. It often includes examples of past projects,

natali 33 [55]

Answer:

D. appendices

Explanation:

The term appendices refers to the supplemental information provided in a proposal. It often includes examples of past projects, client testimonials, and technical specifications. Appendices basically provide the readers with the additional information which help them in better understanding the proposal in a greater detail. It is combination of additional and supplementary materials which includes the results of the past projects, testimonials, supportive data and other technical specification of the project, which can't be included in the main body of the proposal.

5 0

2 years ago

Exercise 9-2 Recording known current liabilities LO C2 Listed below are a few transactions and events of Piper Company. Piper Co

Virty [35]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr, $10,400

To Sales $10,000

To Sales taxes payable $400

(Being the cash is recorded)

Here we debited the cash as it increased the assets and we credited the sales and sales tax payable as it increased the sales and the liabilities

2. Cost of goods sold Dr, $5,000

To Merchandise inventory $5,000

(Being cost of goods sold is recorded)

Here we debited the cost of goods sold as it increased the expenses and we credited the merchandise inventory as it reduced the assets

3. Unearned services revenue Dr, $50,000

To Earned services revenue $50,000

(Being unearned service revenue is recorded)

Here we debited the unearned service revenue as it decreased the liabilities and we credited the earned service revenue as it increased the revenue

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3 years ago