Answer:
This question is incomplete, the options are missing. The options are the following:
a) Partnership
b) C Corporation
c) S Corporation
d) Limited Liability Company
e) Limited Liability Partnership
And the correct answer is the option D: Limited Liability Company.
Explanation:
To begin with, the name of <em>"Limited Liability Company" </em>refers to a type of form of business, in the field of business law, that is helpful to adapt and use for some owners regarding the particular characteristics that this form gives to them. So once said that, this type of business form has the characteristics of both a corporation and a partnership so that means that it is quite flexible and can adapt depending on the situation that the owner is having. Moreover, one of the most important aspects of this type of form is the fact that the owner has a limited liability to what happens in the company so that means that his private assets are secure under this form.
Answer:
- Dr Bad Debt expense 6,000
- Cr Allowance for Doubtful Accounts account 6,000
Explanation:
The total estimated bad debts are $4,800 (= $80,000 x 6%). So the Allowance for Doubtful Accounts account ending balance should be $4,800. Since this account is a contra asset account, the ending balance should be $4,800 credited.
But currently the account has a $1,200 debit balance (it's like -$1,200), so the adjustment record must be = $4,800 + $1,200 = $6,000
That way the ending balance = $6,000 - $1,200 = $4,800
The journal entries should be:
- Dr Bad Debt expense 6,000
- Cr Allowance for Doubtful Accounts account 6,000
Effective managers understand the importance of clear communication and hence use different channels to advance the<u> organizational communication strategy</u>
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<h3>
What is a communication strategy?</h3>
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Communication strategy refers to the plans for speaking statistics associated with a selected issue, event, situation, or audience. They function as the blueprints for speaking with the public, stakeholders, or maybe colleagues.
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Therefore, Effective managers understand the importance of clear communication and hence use different channels to advance the<u> organizational communication strategy</u>
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Learn more about Communication strategy:
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<span>I this case, the loan is still valid and at that point Mike would be responsible for finding a way to pay the loan back as agreed upon in the contract. This is called co-signing, when two parties both sign for a loan together. Both parties are responsible for the loan and even though David cannot be found, the loan must still be paid and Mike would be held responsible for this.</span>
Answer:
inflation rate = 17.5 percent per year ⇒ it will take 4 years to double
inflation rate = 35 percent per year ⇒ it will take 2 years to double
inflation rate = 3.5 percent per year ⇒ it will take 20 years to double
Explanation:
we can use the rule of 70 to determine the amount of time it would take the general price level to double.
the rule of 70 is a simple way we can use to estimate the number of years it will take an investment to double given a certain growth rate.
70 / 17.5 = 4 years
70 / 35 = 2 years
70 / 3.5 = 20 years
