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trapecia [35]
4 years ago
8

True or False To start a corporation, you need to have a partnership agreement.

Business
1 answer:
strojnjashka [21]4 years ago
8 0

Answer:

False

Explanation:

You dont need this document to starta a corporation.

You might be interested in
Required information The following information applies to the questions displayed below.)
Gre4nikov [31]

Answer:

Green Wave Company

T-Ledger Accounts:

1.                                   Common Stock Account

                                                 Jan. 1      Cash Account $35,000

                                     Cash Account

1.  Jan. 1 Common Stock     $35,000  3. Jan. 9 Equipment $8,300

5. Jan 18 Rental Fees          $12,300   7. Jan. 31 Salaries    $6,900

                                            <u>               </u>       Jan. 31 Balance  <u>$32,100</u>

                                           <u> $47,300 </u>                                 <u> $47,300</u>

Feb. 1 Balance                     $32,100

2.                                   Land Account

   Jan. 5 Note Payable      $20,500

2.                                   Note Payable Account

                                                 Jan. 5      Land                  $20,500

3.                                   Equipment Account

   Jan. 9 Cash                     $8,300

5.                                   Rental Fees Revenue

                                                Jan. 18    Cash                   $12,300

6.                                  Office Supplies

  Jan. 23 Accounts Payable  $2,300

6.                                    Accounts Payable

                                                      Jan. 23 Office Supplies  $2,300

7.                                    Salaries Expense

  Jan. 31   Cash                     $6,900

Explanation:

T-Ledger accounts are ledger accounts in the form of the letter T.  It has debit on the left-hand side and credit on the right-hand side.  It is an accounting tool for determining balances.

7 0
3 years ago
On May 2, 2019, Karen placed in service a new sports utility vehicle that cost $60,000 and has a gross vehicle weight of 6,300 l
Rainbow [258]

Answer:

Total Cost of Recovery = $27200

Explanation:

Cost of business Use = 60%*60000 = $36000

As per section 179

Depreciation capped at $25,000 for SUVs, trucks, and vans with a gross vehicle weight rating of more than 6,000

Depreciation = $25000

As per MACRS

Additional First-year depreciation = (36000-25000)*0.20 = $2200

Total Cost of Recovery = $25000+$2200 = $27200

8 0
3 years ago
What are some of the barriers to effective communication? Describe a situation where effective communication may be difficult.
sveticcg [70]
May be different for mega free galaxy or Milky Way
8 0
3 years ago
Sally works for Timber Products, Inc. The basis for her contribution under the Federal Insurance Contribution Act to help pay fo
Anna71 [15]

Sally works for Timber Products, Inc. The basis for her contribution under the Federal Insurance Contribution Act to help pay for benefits that will partially make up for her loss of income on retirement is her ​annual wage base.

Answer: Option B

<u>Explanation:</u>

The contribution that Sally, who is working for Timber Products incorporation, has to make for federal insurance contribution act is based on the amount of wage that Sally gets on an annual basis or the wage that she gets in a year.

A part of that wage which is a particular percentage is paid to the federal insurance contribution act who is going to benefit her in case she incurs any kind of loss of income.

8 0
3 years ago
if Alexis invest $2,000 into a fund that earns 5.5% interest compounded annually, how long will it take for her investment to gr
Alborosie

Answer:

73 years

Explanation:

We can solve this problem by using the formula for the annually compounded interest:

A=P(1+r)^t

where

A is the amount after time t

P is the principal

r is the interest rate

t is the time

In this problem, we have:

P = $2000 is the principal

r = 0.055 is the interest rate (equivalent to 5.5%)

We want to find the time t at which the amount invested will become

A = $100,000

Substituting these values into the formula and re-arranging it to make t the subject, we find:

t=log_{1+r}(\frac{A}{P})=log_{1.055}(\frac{100,000}{2000})\sim 73

Therefore, the time taken is 73 years.

5 0
3 years ago
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