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zysi [14]
3 years ago
11

A(n) ___________________ is a state-chartered legal entity with authority to act and to have liability separate from its owners.

A. limited partnershipB.conventional corporationC. unlimited partnershipD. nonprofit organization
Business
1 answer:
fredd [130]3 years ago
5 0

Answer:

conventional corporation

Explanation:

A conventional corporation (or C-corp) refers to an entity's legal framework wherein investors or shareholders get taxed individually from the company. Such companies are also prone for corporate income taxes, the most predominant among corporations. The taxation of company earnings is at the corporate and private rates, creating an environment of dual taxation.

Simply put, conventional companies restrict investors ' and company owners ' financial risk, as all they can lose in a failed business is the sum they have engaged in it. These companies are required to conduct annual meetings and also have an executive board that stakeholders vote on.                  

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Answer: 10% or $2,000,000

Explanation:

Seeing as no figures were produced, we will have to do this ourselves.

We will make assumptions which include the following,

Life of the equipment = 10 Years

Salvage value = 0

Those are our 2 assumptions.

In that case then,

The Annual Depreciation will be,

Depreciation = (Cost of equipment - Estimated salvage value) / Estimated useful life

= (20 - 0) / 10

= $2 million

Seeing as 2 million is,

= 2/20 * 100

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That would mean that annual depreciation costs at that facility will rise by $2 million or 10%.

If you need any clarification do react or comment.

3 0
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zepelin [54]

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3 0
4 years ago
Why is insurance necessary for businesses and individuals
miv72 [106K]

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5 0
3 years ago
When footwear has greater traction, what does this mean?
timofeeve [1]

Answer:

B

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8 0
3 years ago
Read 2 more answers
The balance in the prepaid insurance account before adjustment at the end of the year is $27,000. Journalize the adjusting entry
Radda [10]

Answer:

(A)  Debit Insurance expense $20,250

     Credit Prepaid insurance $20,250

     Being entries to recognize insurance amortization expense for the year.

(B)  Debit Insurance expense $20,250

     Credit Prepaid insurance $20,250

     Being entries to recognize insurance amortization expense for the year.

Explanation:

Prepaid insurance account before adjustment = $27,000

(A) the amount of insurance expired during the year is $20,250

To account  for the expired amount,

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

Being entries to recognize insurance amortization expense for the year.

(B) the amount of unexpired insurance applicable to future periods is $6,750

Amount expired = $27,000 - $6,750

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To account  for the expired amount such that the amount of unexpired insurance applicable to future periods is $6,750,

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

Being entries to recognize insurance amortization expense for the year.

4 0
3 years ago
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