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3 years ago

What are things to consider before opening a business?

1 answer:

7 0

You should consider whether you want it to be a private or public company. A private company means that should the business fall-out, you and your business partners are responsible for the cost of the lawsuit and you will have to pay out of pocket. If your business is public, meaning that people can buy shares of your stock, then you would only have to pay up to the value of the amount of stock that you own. Hope that helps!

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The two cofounders of Impact Technology, a data-storage firm in Research Triangle Park, North Carolina, were feuding with each o

Sergio039 [100]

Answer:

Organizational Behavior Specialist

Explanation:

Based on the information provided within the question in regards to the situation, it seems that they should get an Organizational Behavior Specialist to work with the warring executives separately to solve the problem. These specialists analyze, assess, and provide advise to the company on how to solve a problem or improve performance and efficiency within the company.

If you have anymore questions feel free to ask at Brainly

7 0

3 years ago

On October 1, Company B records 1 year of prepaid rent in an income statement account then adjusts for the unexpired prepaid ren

trasher [3.6K]

Answer:

The first journal entry was not the most appropriate, but since the mistake was correctly adjusted at the end of the year, both assets and expenses will be the same whether they did it correctly the first time or they had to adjust a mistake at the end of the year.

E.g. something like this happened

October 1, rent expense for 1 year

Dr Rent expense 12,000

Cr Cash 12,000

December 31, adjustment to rent expense

Dr Prepaid rent 10,000

Cr Rent expense 10,000

they should have recorded it as:

October 1, prepaid rent for 1 year

Dr Prepaid rent 12,000

Cr Cash 12,000

December 31, adjustment to rent expense

Dr Rent expense 2,000

Cr Prepaid rent 2,000

Whichever way you recorded the transactions, the balances a the end of the year would be:

prepaid rent (asset) $10,000

rent expense (expense) $2,000

6 0

3 years ago

Presented below are long-term liability items for Pharoah Company at December 31, 2020. Bonds payable, due 2022 $625,000 Lease l

lesya [120]

Answer:

See explanation

Explanation:

Consider liabilities due within period of more than 12 months for the long-term liabilities section of the balance sheet.

4 0

3 years ago

Assume that Sandhill Co. uses a periodic inventory system and has these account balances: Purchases $420,800; Purchase Returns a

ivolga24 [154]

Answer:

Cost of goods Sold = $384,000

Gross Profit = $259,000

Explanation:

Cost of goods sold = Opening Inventory + Net Purchase - Closing Inventory

Opening Inventory = $58,100 Closing Inventory = $92,600

Net Purchases = Purchase - Purchase Return - Discounts + Freight in

Freight in forms part of cost of purchase because without this expense inventory cannot be bought in.

Net Purchases = $420,800 - $11,900 - $8,100 + $17,700 = $418,500

Cost of goods Sold = $58,100 + $418,500 - $92,600 = $384,000

Gross Profit = Sales - Cost of Goods Sold

= $643,000 - $384,000 = $259,000.

6 0

3 years ago

A British firm may need dollars to pay for U.S. imports. It can work with banks in London to exchange pounds for dollars to make

Rzqust [24]

Answer:

The correct answer is Spot market.

Explanation:

The spot market or spot market is one in which both the transaction and the settlement of an operation coincide on the same date. Although it is considered cash market when delivery occurs up to a maximum of 2 days later.

In spot markets, transactions are usually settled within a day or two after the date of purchase / sale. This is what is understood as a settlement in D + 1 or D + 2. The transactions are also closed at the current price on the asset in question that exists at the time of the transaction. This is one of the main differences between the cash market and the futures market.

7 0

3 years ago