Answer:
C.Prepaid Insurance
Explanation:
Prepaid Insurance is the insurance amount paid in advance, so that company has a receivable because amount is not due yet. It will charged to expense account with the passage of time. Notes Payable, Unearned Revenue, Owner Withdrawals are classified as liabilities and capital contra accounts. So correct option is C. Prepaid Insurance.
Answer:
The correct option is B,common stock 30,000 cash 10,000 and building 20,000
Explanation:
Geraldine Parker's contributions to the business -that is both cash and building are seen as his capital invested in the business.Invariably, it is assumed the new business owes Geraldine Parker the worth of resources invested
Appropriate double entries for the transaction are shown below
Dr Cash $10000
Dr Building $20000
Cr Capital $30000
This is the capital as at the start of the business,it is also possible that Geraldine Parker contributes additional capital which adds to existing capital.
Also,the profits made increases the stake of the owner in the business and drawings should e deducted from the capital in case the owner withdraws cash or goods from the business.
Answer:
$22
Explanation:
JL Groomers will maximize its accounting profit while taking to 0 its economic profits when the marginal revenue = marginal costs.
Economic profits are not the same as accounting profits, since they include the opportunity costs of investing the money somewhere else. That is why in the long run firms are not able to make economic profits since as long as they exist, new competitors will enter the market. But on the short run, firms are able to make economic profit, but by doing so, they will not be maximizing their accounting profit.
Economic profit = accounting profit - opportunity costs
Opportunity costs are the extra costs associated or benefits lost from choosing one activity or investment over another one.
Answer:
life insurance ( B )
Explanation:
Insurance is a agreement reached by a company and an individual,corporate entity or the government to provide a guarantee of compensation for the insured individual or corporate entity in cases that the individual or entity encounters an unforeseen loss. the insured pays a premium to keep this agreement runing.
For a compensation options that pays for premiums that covers expenses resulting from death it is called Life insurance compensation plan or life insurance policy plan.
A franchise agreement is a legally binding contract between the franchise partners.
A franchise is a method of distributing products or services that involves a franchisor, who establishes the brand's trademark or trade name as well as a business system, and a franchisee, which pays a royalty and, in many circumstances, an upfront fee for the right to use the franchisor's brand and system.
Most entrepreneurs choose franchising because it allows them to expand without the risk of debt or the expense of stock. For starters, because the franchisee supplies all of the cash necessary to create and manage a unit, it allows businesses to develop by leveraging the resources of others.
The blank will be filled by contractual.
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