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Shalnov [3]
4 years ago
12

Sherri is a self- employed house painter. she has no regular office, and she does not have a qualified office in her home. there

fore, the locaiton of her first business contact inisde the metropolitan area is her office. on her schedule c sherri can
Business
1 answer:
daser333 [38]4 years ago
7 0
On her schedule sherri could still take care of her personal lifes while not neglecting her job at the same time.
Self-employed and working at home means that your work is measured by the end result and not the amount of hours you clock it. As long as you finish the overall object, the payment should be similar no matter how she does it and how much budget that she need.
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Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2018, the company's board of di
Kaylis [27]

Answer:

Dr Retained Earnings 500,000

Cr Com. Stock Dividend Distributable 100,000

Cr Add’l Paid – in Capital, Com. Stock 400,,000

Explanation:

Preparation of the journal entry

Dec. 31

Dr Retained Earnings 500,000

[(100,000 x (50/100)* 10 market price]

Cr Com. Stock Dividend Distributable 100,000

[(100,000 x (50/100)*2 par value ]

Cr Add’l Paid – in Capital, Com. Stock 400,,000

(500,000 – 100,000 )

6 0
3 years ago
Williamsburg Market is an all-equity firm that has net income of $96,200, depreciation expense of $6,300, and an increase in net
sladkih [1.3K]

Answer:

The answer is $99700

Explanation:

Net cash from operating activity= Net income + Depreciation - increase in net working capital.

Net cash from operating activity= $96,200 + $6,300 - $2,800= $99700

6 0
3 years ago
Which of the following statements about the Uniform Commercial Code (UCC) is true? Group of answer choices The UCC contract form
sergey [27]

Answer:

1- The UCC contract formation includes offer, acceptance and consideration.

Explanation:

Elements "Offer" and "Acceptance" together form mutual assent. Also, in order to be enforceable, the contract must be for a legal purpose and parties to the contract must have capacity to enter into the contract, that part is related to consideration.

Offer → gives power of acceptance to another party, besides it includes the agreement´s essential elements (they have to be definite and certain).

Acceptance → must be a mirror image of the offer.

Consideration → All common-law contract must contain this element as a valid one. It means that there must be a bargained for interexchange of acts or promises, both parties incurring new legal detriment or obligations as a consequence of the contract.

8 0
3 years ago
Which of the following statements is false? Multiple Choice The short run refers to a period of less than one year. In the long
Jet001 [13]

Answer:

The short run refers to a period of less than one year.

Explanation:

The statements is false that the short run refers to a period of less than one year.

The short run, long run and very long run are different time periods in economics.

<u>Short run – where one factor of production (e.g. capital) is fixed</u>.

long run – Where all factors of production are variable,

Unlike in accounting where operating period refer to a period of one year, <u> there is no hard and fast definition as to what is classified as "long" or "short" and mostly relies on the economic perspective being taken.</u>

7 0
3 years ago
The cash account has a debit balance of $400. Through the month the account is debited for a total amount of $1500 and credited
g100num [7]

Answer:

$1,000

Explanation:

The computation of the ending balance of cash is shown below:

Ending balance of cash  = Debit balance of cash account + total debited the amount of cash balance - the total credited amount of cash balance

= $400 + $1,500 - $900

= $1,000

Since the cash account has debit balance so it would be added while the credit balance is deducted

8 0
3 years ago
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