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3 years ago

Alan and Desmond have set up a law business in a high–priced office. Which type of business do they have?

2 answers:

8 0

It depends on their agreement. It could be a general partnership or a limited partnership. One could be an investor and one runs the business day to day.

denis-greek [22]3 years ago

4 0

The answer is partnership, hope this helps!

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Catherine is a U.S. citizen who is employed by DSC, Inc., a global company. Beginning on August 1, 2020, Catherine began working

marin [14]

Answer:

a. Is Catherine eligible for the foreign income exclusion for 2020?

Yes

b. Catherine may exclude $45,104 from her gross income for 2020.

Explanation:

In order for Catherine to qualify for the foreign income exclusion, she must have lived in a foreign country for at least 1 one (physical presence test). She lived for more than 1 year if we combine her residence in Germany and Slovenia.

The foreign income exclusion amount for 2020 is $107,600, and Catherine can exclude up to (153 days / 365 days) x $107,600 = $45,103.56 ≈ $45,104.

5 0

3 years ago

Rachel is preparing to open her own raft rental business, cleverly named Rachel's Rafts. She figures out that her fixed costs wi

Arisa [49]

Answer:

selling price= $5

Explanation:

Giving the following information:

Fixed cost= $7,500

Unitary variable cost= $2

Break-even point= 2,500 units

The break-even point is the number of units to sell to cover the fixed costs. At this level, net income is zero.

So given the costs structure and 2,500 units to sell, the selling price that provides the break-even point is:

Break-even point in units= fixed costs/ (selling price - unitary variable cost)

2,500 = 7,500 / (selling price - 2)

2,500selling price - 5,000 = 7,500

2,500selling price = 12,500

selling price = 12,500 / 2,500

selling price= $5

7 0

3 years ago

BlendedBlended Corporation uses the allowance method to account for uncollectible receivables. At the beginning of the year, Al

ehidna [41]

Answer:

The answer is: $2,300

Explanation:

To determine the ending balance of the account Allowance for Bad Debts of Blended Corporation, we can use the following formula:

ending balance = beginning balance - amount wrote off + recorded bad debts

ending balance = $1,300 - $1,800 + $2,800 =$2,300

4 0

2 years ago

If a business is in need of working capital, one option is to use a(n) ________ that will buy the company's account receivables

vesna_86 [32]

Answer:

factoring company

Explanation:

Factoring companies purchase your company's invoices (account receivables). When they do that, your company promptly receives a cash advance, instead of waiting for the usual 60, 90 day period to receive the full payment amount. Afterward, the factoring company collects the payment from your clients.

All of that is done for a fee to the factoring company (deducted from the full payment amount) and mostly with clients with whom it is normal to have longer payment periods. Factoring is an essential way to get bigger working capital.

5 0

3 years ago

Read 2 more answers

In the ________, the perfectly competitive firm will react to profits by ________

ElenaW [278]

In the long run, perfectly competitive firms will react to profits by increasing production.

Firms in a perfectly competitive world earn zero profit in the long run. While firms can earn accounting profits in the long run, they cannot earn economic profits.

In the long run, perfectly competitive firms will react to profits by decreasing production. CORRECT: In the long run, perfectly competitive firms will respond to losses by exiting the market. In the long run, perfectly competitive firms will respond to losses by reducing production.

A perfectly competitive market achieves long‐run equilibrium when all firms are earning zero economic profits and when the number of firms in the market is not changing.

In the long run, profits and losses are eliminated because an infinite number of firms are producing infinitely divisible, homogeneous products. Firms experience no barriers to entry and all consumers have perfect information.

Learn more about a perfectly competitive firm here: brainly.com/question/25327136

#SPJ4

8 0

2 years ago