Answer:
- Sole Proprietorship: The business concept that would be suitable for this type of business would be a roadside Fruit Juice Processing business. This involves different blends of organic fruits being blended into one smooth syrup sometimes called a smoothie.
This type of business is better registered under a Sole Proprietorship because, it is almost always carried out by those who are self-employed.
Pros:
- It is easy to set up and has low operational and corporate cost
- It enjoys zero corporate business taxes
- they are not required to submit annual filings
Cons:
- The liability is unlimited and unrestricted. This means if there is litigation against the business, the business owner if found culpable will have to defray all amounts due even with his or her personal assets if the business is unable to meet that obligation
- This type of business structure will find it difficult to raise money due to the potential liability exposure
- Also the sole proprietor may be unable to take on business debt
2. A Limited Liability Corporation: The business concept that would be suitable for this type of entity is a Fast Food Franchise like Tastee Fried Chicken. This sort of business will involve processing chicken and other kinds of foods into wholesome dishes.
Firm’s market to book value ratio can be calculated by dividing the market value of the firm’s equity by the book value of the fir’s equity.
Market value of the firm’s equity = market value of current assets + market value of book value – market value of firm’s debt
= $10 million + $90 million – 50 million
= $50 million
Book value of firm’s equity = Book value of current assets + book value of fixed assets – book value of liabilities
= $10 million + $60 million – 40 million
= $30 million
Market to book value ratio = $50 million/ 30 million
= 1.67 times
Answer:
The Journal entries are as follows:
(i) General fund
Property taxes receivable current A/c Dr. $1,878,700
To Allowance for uncollectible current taxes $37,574
To Revenue $1,841,126
(To record general fund)
(ii) Governmental activities
Property taxes receivable current A/c Dr. $1,878,700
To Allowance for uncollectible current taxes $37,574
To Revenue $1,841,126
(To record governmental activities)
Workings:
Allowance for uncollectible current taxes:
= Real property taxes × percent of levy uncollectible
= $1,878,700 × 2%
= $37,574
Answer:
$106.17
Explanation:
Data provided in the question:
Amount received i.e the Principle amount = $100
Time for which money is kept in savings account, n = 12 months
Interest paid per month by the bank , r = 0.5% monthly
Now,
Future value = principle × ( 1 + r )ⁿ
or
Future value = $100 × ( 1 + 0.005 )¹²
or
Future value = $106.17
Answer:
Those who have historically been discriminated against.
Explanation:
Affirmative action seeks to make up for past inequities by providing more opportunities to those who were passed over before.