The establishment/items that can ave a single owner includes:
- Sole proprietorship
- Private corporation
- Non-profit corporation
<h3>What is a
single owner?</h3>
This refers to any form of establishment that can be owned and operated by a natural person.
Therefore, in the list, the Sole proprietorship, Private corporation and Non-profit corporation are establishment that can have a single owner.
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Answer:
Date Accounts Titles & Explanation Debit Credit
Dec 31 Rent Expense $2,040
($6,120 *2/6)
Prepaid Rent $2,040
Dec 31 Deferred Revenue $525
Service Revenue $525
Dec 31 Salaries Expense $700
Salaries Payable $700
Dec 31 Supplies Expense $2,390
($3,100 - $710)
Supplies $2,390
Demon Deacons Corporation
Adjusted Trial balance
December 31, 2021
Accounts Debit$ Credit$
Cash 9,100
Account receivable 14,100
Prepaid rent 4080
Supplies 710
Deferred revenue 1,575
Salaries payable 700
Common stock 11,000
Retain earnings 5,100
Service revenue 45,245
Salaries expenses 31,200
Rent expenses 2,040
Supplies expenses <u>2,390</u> <u> </u>
Total $<u>63,620</u> $<u>63,620</u>
Prepaid rent = 6,120 - 2,040 = 4080
Supplies = 3100 - 2390 = 710
Deferred revenue = 2,100 - 525 = 1575
Answer:
$550,000
Explanation:
In the consolidated financial statements, intercompany related transactions are deducted from the books of either of the parties involved before it is reported.
For instance, where the liabilities of one party (subsidiary/owner) is due to another (owner/subsidiary), that amount will be deducted from the sum of the liabilities of the two companies.
Total liabilities to be reported
= $450,000 + $200,000 - $100,000
= $550,000
If a car travels from Nakuru, Kenya to Entebe, Uganda, then distance covered is the total length traveled between the two towns.
The straight line connecting the two cities is the displacement while its length is the magnitude of displacement.
Answer:
<u>The real exchange rate equals</u>
<u>1.05</u>.
<em>Explanation:</em>
To calculate the real exchange rate use the formula:
R = (E x P*)/P
Where:
R: real exchange rate =?
E: nominal exchange rate =$1
P*: foreign price level =105
P: domestic price level =100
R= (1 x 105) / 100 =1.07 rounded to two decimal places.
Remember, the real exchange rate is only a measure of the price of foreign goods relative to the price of domestic goods of a country.