Answer:
The correct answer is option A.
Explanation:
A sole proprietorship is a business structure where there is a single owner. The business and owner are not separate entities. The business owner has unlimited liabilities. The business though does not have to pay corporate taxes.
The profits of a sole proprietorship are passed through to the owner and taxed at the owner's personal tax rate. The sole proprietors are required to estimate their taxes and make quarterly payments to the government or suffer penalties for nonpayment.
Answer:
Answer is explained and solved in the explanation section below.
Explanation:
Data Given:
First we need to clearly extract the data from the question.
Sales of the year = 5000000
Increase in Sales (%) = 20%
Profit Margin = 4%
Retention Ratio = 100%
Dividend Payout = 0
1. Increase in Assets necessary to support increase in Sales = Increase in Sales x total Assets = 20% x 3000000 = 600000
2. Increase in Liabilities necessary to support increase in Sales = Increase in Sales x Total Liabilities Accounts payable + Accrued Liabilities + other payables = 20% x 500000 = 100000
3. Net Income = 5000000 x (1 + 0.20) x 4% = 240,000
So Addition of Retained Earnings = 100% = 240,000
4. AFN = Increase in Assets - Increase in Liabilities - Increase in Retained Earnings = 600000 - 100000 - 240000 = 260000
Under this scenario, the company would have higher level of retained earnings which would reduce the amount of additional funds needed.
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Answer: <em>Continuum of long-term care
</em>
Explanation:
The continuum of long term care mostly includes several levels of personal care and health care service that are available. It is normally referred to as the levels of housing, health care and supportive services that are available to an individual in a given area or locality. These are also referred to as the complete range of the long-term care applications that tends to increases in level of complexity and acuity from one point to other.
Security deposit = $1,600
Rent for 11 months $1,600*11 = $17,600
In November instead of paying rent to Mary Beth, Carl replaced the water heater. This water heater would have costed Mary Beth $1,100 to purchase and install, but as this was done by Carl, Carl did not pay rent ($1,600). So, for the month of November Mary Beth’s income is $1,100.
Rental income for the last year that is to be reported can be calculated as below: -
($1,600*11)+$1,100+$1,600 = $20,300
Answer: $20,300 to be reported as rental income of the last year.