1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lapatulllka [165]
3 years ago
15

Your company, a sole proprietorship, has assets of $34,583 and liabilities of $55,867. you decide to liquidate the company. assu

ming you can sell the assets at their listed value, how much will you be personally liable for?
Business
1 answer:
yanalaym [24]3 years ago
8 0

A sole proprietor is personally liable for the liabilities which remain unpaid after the utilization of assets. In the given case the sole proprietorship has total assets of $34,583 and liabilities of $55,867. It means total assets can be used to pay off $34,583 out of total liabilities of $55,867 and the proprietor shall be personally liable for the balance liabilities= 55867-34583 = $21,284

Hence, you are personally liable for <u>$21,284</u>




You might be interested in
The flexible or telecommuting schedule is most likely an option offered in:
yan [13]
The flexible or telecommuting schedule is most likely an option offered in alternative work arrangements. Examples of alternative work arrangements are: f<span>lexible work schedules, the 4/40 workweek, job sharing, and home based work.</span>
4 0
3 years ago
A Company just starting in business purchased three merchandise inventory items at the following prices. First purchase $80; Sec
gogolik [260]

Answer: $65

Explanation: Under the FIFO method, that is, first in first out method inventory is recorded on the assumption that the goods that were purchased first will also be sold first and the remaining inventory will have the latest purchased units.

So, in the given question the two units sold would be costing $80 and $95

Hence,

Gross profit = $240 - ($80 + $95)

                    = $65

3 0
3 years ago
"The objective of external auditing is to provide opinions on the reliability of the financial statements and provide opinions o
muminat

Answer:

A. True

Explanation:

4 0
3 years ago
What percentage of new businesses fail in the first year a 75% B 25% C 40% D 60%
rosijanka [135]
75 it depends on the persons background with education .
3 0
3 years ago
Read 2 more answers
Planned investment spending is _____ the interest rate because fewer projects are profitable at higher interest rates. greater t
Lapatulllka [165]

The relationship between planned investment and interest rates is that investment spending is inversely related to interest rates.

<h3>How are investment spending and interest rates related?</h3>

Investment spending depends on being able to take loans from financial institutions to sponsor capital projects.

If interests rate are high, there will be less planned investments because the cost of taking a loan will be high. The relationship is there inverse in nature.

Find out more on interest rates at brainly.com/question/26540958.

5 0
2 years ago
Other questions:
  • Daniel is the owner of a company that manufactures automobile parts. He owns all the factories of the company and employs 3,000
    5·1 answer
  • When you know you cannot pay your debts, which of the following should you do?
    5·1 answer
  • if you're interested in working for a specific company what type of job site should you look at for opening
    8·2 answers
  • Interview Notes Olivia is single, 66 years old, and not blind. She paid all the cost of keeping up her home. She earned $55,000
    7·1 answer
  • Economics is the study of how evenly goods and services are distributed
    9·1 answer
  • Jake is in the stands at a football game with his girlfriend. He decides that he needs to ask her something very personal, so he
    8·2 answers
  • You can invest in taxable bonds that are paying a yield of 9.4 percent or a municipal bond paying a yield of 7.65 percent. Assum
    7·1 answer
  • Recognizing religious holidays, differing modes of dress, and dietary restrictions as well as allowing flexible scheduling are a
    10·1 answer
  • suppose that due to unfavorable growing conditions, this year’s global coffee crop was unusually small. what can we assume about
    14·1 answer
  • Which of the following is the basis for Justice Ginsberg's opinion that Guido and
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!