Buckette co. owned 60% of
shuvelle corp. and 40% of tayle corp., and shuvelle owned 35% of tayle.
<span>This pattern of ownership is called
a connecting Affiliation. This a type of mutual owner ship, like many people
have their family business and have shares in the business. If a company of
someone, who has his son and grandson and they are also have shares in that
company or owned by percentage, this is mutual ownership and the pattern is
connecting affiliation.</span>
Answer:
Interest expense for the year: 25,401.6
Explanation:
Carrying value of the note x 8% = interest on note payable
317,520 x 8% = 25,401.6
The interest expense will be for this amount
And the journal entry will be as follow
Interest Expense 25,401.6
Note Payable 25,401.6
As the note is discounted, we will recognize interest until maturity against the note, so it reach their face value at maturity.
Because this interest won't be exigible until maturity, they are accrued interest but do not invovle a cash disbursmement for the period.
<span>Two variable costs that I anticipate to have include transportation costs and entertainment costs. Transportation is a regional cost, and will vary depending upon the availability of alternatives, such as mass transit and walking, and the cost of owning a vehicle. Entertainment will vary based upon regional availability of specific activities as well as my personal tastes, as they evolve over time.</span>
Answer:
A) Power of Attorney
Explanation:
When a stockholder cannot attend a corporation's annual meeting, he/she can issue a power of attorney to another person to represent him/her at the meeting and vote on his/her behalf. In business, this is called a proxy, where the individual granted the power of attorney acts as the stockholder's proxy.
Answer:$19500
Explanation:
The provision for doubtful debts accounts is an account that shows the amount of estimated debts that are expected to go bad at the end of the year. The estimated amount at the end of a year is debited to income account, credited to debtors account and left as a credit balance on the provision for doubtful debts accounts.
If at the end of a new year a new estimate is made which differs from the current estimated figure, then the account is adjusted to show the entire new estimate and that is why the answer to the question is 3% of $650,000 = $19,500.
