Answer:
Explanation:Three legal form of business organization
(1)sole proprietorship:-this is a one man business the PROPRIETOR. He runs the total affairs of the business
Advantages:-The owner has the final says
He enjoys all profits
Disadvantage:-the owner bears the loss alone.
His death can end the business..
(2)PARTNERSHIP:-It is a business owned by two or more people called partners..
advantages:-fund raising is easy..
They bring experience together..
Work load is shared.
Disadvantages:-profits is sheared..
Disagreement can set in and end the business
Death of some partners can end the business..
LIMITED LIABILITY COMPANY:-A limited liability company is a corporate structure whereby the owner are not personally liable for the company's debt or liabilities. Limited liability companies are hybrid entities that combines Tue characteristics of a corporation with those of a partnership or sole proprietorship..
Advantage:-transfer of ownership is easy..
Disadvantage:-exploitation of share holders..
Answer:
a) functional planning
Explanation:
Functional planning is a type of planning made to achieve consistent working of the company taking into account the function and of each and every department.
It is achieved by setting goals, continuously assessing the functions of every department, measuring the achieved goals (success) and projecting the future achievement of the company (foresight).
Answer:
$150,000
Explanation:
Calculation for the amount of Cash raised for the Levy Company
Using this formula
Cash raised for Levy Company = Number of Bonds * Face value of the Bond
Let plug in the formula
Cash raised for Levy Company = 100 * $1,500
Cash raised for Levy Company = $150,000
Therefore the amount of Cash raised for the Levy Company will be $150,000
Answer:
a.
Date Account Title Debit Credit
XX-XX-XXX Accounts Receivable $12,040
Fees earned $12,040
b. No it would not have been.
If using the cash basis, the revenue would only be recognized when the cash is paid to the company. As the cash has not been paid, there would be no need to adjust for the revenue in the present period.
There is not enough information to have a significant answer
