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stira [4]
3 years ago
7

Businesses can be classified into the following forms: a proprietorship, a partnership, a corporation, a limited liability compa

ny (LLC), and a limited liability partnership (LLP). Different forms of businesses have different characteristics. Which of the following characteristics would apply to a proprietorship? Check all that apply. Owned by single individual O can easily raise large amounts of capital O Less regulated Subject to unlimited liability Has unlimited life Subject to lower income taxes You come across different kinds of businesses every day. The following table describes some businesses. Using the description of each business, classify it as a proprietorship, a partnership, a corporation, or a limited liability company/limited liability partnership. Type of Business Business Scenario Michael founded and operated a wedding planning agency, which specialized in celebrity weddings. When he died, his business was dissolved because there was no plan for control after his death. DDX Co. is a shipping company. Tyler owned 1,000 shares of DDX stock. He found better opportunities and sold his entire stake in DDX to another investor. Jackson and his friend Shirley run a carpet cleaning business. They distribute the profits proportionately and file their individual taxes. Tyler, Jackson, and Jose own an accounting firm in San Francisco. All share in the profits of the firm proportionately and file taxes at an individual level. According to their agreement, none of the owners will be held personally liable for the accounting firm's debt. Businesses in the form of corporations offer their owners several advantages, but the benefits come at a price. For instance, corporations are required to create a charter, set bylaws, and file mandatory reports with state and federal authorities, which can get expensive and time consuming. The filing document, which requires the company to state: (1) the name of the proposed corporation, (2) types of activities the company will be involved in, (3) amount of capital stock, (4) number of directors, and (5) names and addresses of the directors, is called the corporate
Business
1 answer:
lozanna [386]3 years ago
6 0

Answer:

Explanation:Answer:

Explanation: Characteristics of a proprietorship:

1. Owned by single individual

2. Less regulated Subject to unlimited liability

3. Has unlimited life Subject to lower income taxes

B.

Michael founded and operated a wedding planning agency, which specialized in celebrity weddings. When he died, his business was dissolved because there was no plan for control after his death. Sole proprietor

DDX Co. is a shipping company. Tyler owned 1,000 shares of DDX stock. He found better opportunities and sold his entire stake in DDX to another investor. Limited liability company.

Jackson and his friend Shirley run a carpet cleaning business. They distribute the profits proportionately and file their individual taxes. Partnership

Tyler, Jackson, and Jose own an accounting firm in San Francisco. All share in the profits of the firm proportionately and file taxes at an individual level. According to their agreement, none of the owners will be held personally liable for the accounting firm's debt. Limited partnership

Businesses in the form of corporations offer their owners several advantages, but the benefits come at a price. For instance, corporations are required to create a charter, set bylaws, and file mandatory reports with state and federal authorities, which can get expensive and time consuming. The filing document, which requires the company to state: (1) the name of the proposed corporation, (2) types of activities the company will be involved in, (3) amount of capital stock, (4) number of directors, and (5) names and addresses of the directors, is called the corporate limited liability company

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Guinan Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direc
Tresset [83]

Answer:

$4,200 over applied

Explanation:

For computing the over applied overhead, first we have to find out the predetermined overhead rate which is shown below:

Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)

= $327,080 ÷ 14,800 hours

= $22.1

Now we have to find the actual overhead which equal to

= Actual direct labor-hours × predetermined overhead rate

= 13,900 hours × $22.1

= $307,190

So, the overhead over applied would be

= Actual manufacturing overhead - applied overhead

= $302,990 - $307,190

= $4,200 over applied

7 0
3 years ago
Capitalization of interest is adding accrued
Anon25 [30]

It is true that capitalization of interest is adding accrued interest to the principal balance,  so that the interest-bearing principal balance of the loan increases.

<h3>What is interest capitalization?</h3>

This is when an unpaid interest is rolled over with the principal amount, which increase the overall amount to be paid. It is the inclusion of an unpaid interest to the principal balance of the loan taken.

Hence, Capitalization of interest is adding accrued interest to the principal balance,  so that the interest-bearing principal balance of the loan increases.

Learn more about interest capitalization here: brainly.com/question/417585

#SPJ1

6 0
2 years ago
A $10,000 face value Treasury bond is quoted at a price of 101.6533 with a current yield of 4.87 percent. What is the coupon rat
musickatia [10]

Answer:

D) 4.95 percent

Explanation:

The current yield formula can be used to determine the coupon payment which would thereafter be used to compute coupon rate as required:

current yield=coupon payment/current market price

current yield=4.87%

coupon payment=unknown

current market price=101.6533%*$10,000

current market price=$10,165.33  

4.87%=coupon payment/$10,165.33  

coupon payment=$10,165.33 *4.87%

coupon payment=$495.051571

coupon rate=coupon payment/face value

coupon rate=$495.051571 /$10,000

coupon rate=4.95%

4 0
3 years ago
Which of the following is a way to increase possession utility for a refrigerator?
Ivenika [448]
The correct answer is letter B. Providing a delivery service. Making an increase in possession is ensuring that you have the refrigerator or whatever product that you are getting. The ability to feel the tangible touch of a product gives you the possession.
6 0
3 years ago
Read 2 more answers
The sales budget for Modesto Corp. shows that 21,900 units of Product A and 23,900 units of Product B are going to be sold for p
rewona [7]

Answer:

22,290 units

Explanation:

Product A sales (S) = 21,900 units

Product A selling price = $11.90

Product A beggining inventory (I)= 3,900

Product A ending inventory (E) = 3,900 x 1.10 = 4,290

Budgeted purchases of product A must account for all of the projected sales and the desired ending inventory, assuming that the company already has a beginning inventory at hand. Budgeted Purchases of product A are given by:

B = S+E-I\\B= 21,900+4,290-3,900\\B= 22,290\ units

6 0
3 years ago
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