The correct answer is B, sole proprietorship.
A general partnerships is very similar to a proprietorship. One of the biggest detractors from both a partnership and a proprietorship is that the owners are personally responsible for the debts of the company.
Answer:
Her rate of commission is 2 percent
Explanation:
Commission= $4800
Sale of property = $240,000
Rate of commission = (Commission/ Sale Of Property )* 100
Rate of commission= $ 4800/ $ 240,000 * 100
Rate of commission= 0.02 * 100
Rate of commission= 2%
The above solution can be checked by putting in the values of percent and commission
(Check)
2% of $ 240,000
= (2/100) * $ 240,000
= 2* $2400
= $ 4800
Thus 2 percent of $ 240,00 is equal to $ 4800
Answer:
The answer is B.
Explanation:
Because it is 9 months, the interest to be used cannot be 10% instead, it will be 9months/12months x 10%
0.75 x 10%
=7.5%
Interested on the borrowed money is 7.5% x $9,000
$675
On April 1, 2019, Herzog will the money lent plus interest.
So we have $9,000 + $675
=$9,675 and because Herzog is receiving, we debit cash account.
Interest revenue will be
$675/3months
=$225.
This will be credit
Interest receivables will be $675 - $225 = $450
This will also be in credit side
Answer:
$165,000
Explanation:
The computation of the reported amount for Allowance for Doubtful Accounts is shown below:
= Young accounts × uncollectible percentage + old accounts balance × uncollectible percentage
= $100,000 × 5% + $400,000 × 40%
= $5,000 + $160,000
= $165,000
We simply added the young accounts and old account balance after considering the uncollected percentage
Answer:
The average fixed cost is $2.4.
Explanation:
Vipsana's Gyros House sells gyros.
The cost of ingredients to make a gyro is $2.00.
Vipsana pays her employees $60 per day.
She also incurs a fixed cost of $120 per day.
The cost incurred on ingredients and workers is a variable cost.
The total fixed is thus $120.
The average fixed cost for 50 gyros
= 
= 
= $2.4
