All categories

3 years ago

In which type of business can debtors recover dues from the owner’s personal assets?

Business

1 answer:

lianna [129]3 years ago

7 0

proprietorship

As the name suggests, a proprietorship (also called a sole proprietorship or sole trader) belongs to an individual. The owner receives all of the profits and is responsible for all of the losses. If the business shuts down, creditors (persons or organizations that loaned money to the business) may recover dues from the owner's personal assets. It is not possible for a sole proprietorship business to raise money from the capital market (stock market). A beauty parlor and a local mom-and-pop store are examples of proprietorships.

You might be interested in

Corporation A and Corporation Z go into partnership to develop, produce, and market a new product. The two corporations contribu

sasho [114]

Answer:

You didn´t post the complete information of the exercise, I searched the exercise online and tried to ask the most useful question.

Explanation:

a. Corporation A realized a $4.000 loss, and Corporation Z realized a $68.000 gain on the contribution of business equipment to AZ partnership. Neither corporation recognizes gain or loss.

b. A's basis in it's one-half equity interest in AZ Partnership is $134.000, while Z's basis in it's one-half equity in AZ partnership is $62.000.

c. AZ partnership's basis in the equipment contributed by A is $34.000 and in the equipment contributed by B is $12.000.

6 0

4 years ago

Assume a consumer can buy two goods, A and B, and that the prices are Pa and Pb respectively. The marginal utility of A is MUa a

Veseljchak [2.6K]

Answer:

Explanation:

The Utility Maximization Rule is

MUa/Pa = MUb/Pb, where MUa represents the marginal utility derived from good a, Pa represents the price of good a, MUb represents the marginal utility of good b and Pb represents the price of good b.

7 0

4 years ago

An artist buys scrap metal from a local steel mill as a raw material for her sculptures. Last year, she purchased $5 comma 000

NemiM [27]

Answer:

1. $1000 (sale price) - $800 (Dealer price) = $200

2. $200 * 10 sculptures = $2000 of total value added

Explanation:

STEPS

1)The artist pays $5,000 for the intermediate goods (scrap metal) and sells the finished goods (10 sculptures) for $1 comma 1,000 each.

The value added for the artist equals $3000

2)The art dealer pays $800 for the intermediate goods (sculptures) and sells the finished goods (sculptures) for $1000 each. Calculate the difference between the price the dealer paid for the sculptures and the amount for which the dealer sold the sculptures.

3) $1000 (sale price) - $800 (Dealer price) = $200

4) $200 * 10 sculptures = $2000 of total value added

7 0

4 years ago

At the beginning of July, CD City has a balance in inventory of $2,550. The following transactions occur during the month of Jul

Gemiola [76]

Answer:

Inventory 1450 debit

Accounts Payable 1450 crdit

--to record purchase--

Inventory 120 debit

Cash 120 credit

--to record payment of freights--

Accounts Payable 400 debit

Inventory 400 credit

--to record returned goods--

Accounts Payable 1050 debit

Inventory 21 credit

Cash 1029 credit

--to record payment within discount--

Accounts Receivables 4100 debit

Sales Revenues 4100 credit

--to record sale--

COGS 2150 debit

Inventory 2150 credit

--to record COGS of the previous sale--

Cash 4,100

Accounts Receivables 4100

--to record collection--

Explanation:

For the purchase we must adjust teh invoice nominal as we are paying within the discount windows and also, there was returned goods.

Balance of the account payable:

1450 - 400 return = 1050

Then 2% discount: 1,050 x 0.02 = 21

Cash payement: 1,050 - 21 = 1,029

The sale do not have credit terms for discount neither a return thus, we don't have to make any adjustment to the invoice nominal the customer pay that amount.

3 0

3 years ago

Read 2 more answers

If the demand for a good falls by less than the supply of the good rises, then the good’s equilibrium price will __________ and

STatiana [176]

If the demand for a good falls by less than the supply of the good rises, then the good’s equilibrium price will fall and its equilibrium quantity will rise.
According to the law of demand indicates that as price increases, consumers are willing and able to purchase less so the quantity demanded will fall and cause the downward sloping demand curve. So when price falls, consumers are willing and able to purchase more.

6 0

4 years ago