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3 years ago

When incorporating a business, which one of the following is not a major step to take?

1 answer:

lina2011 [118]3 years ago

5 0

Incorporation of business means staring a new business in corporate form. At the time of incorporation of a business, it is necessary to file employee policies with the proper state agency important and preparation of articles of incorporation and bylaws, but holding an incorporator's meeting is not a major step.

Hence, the correct answer is:

B. Holding an incorporator's meeting

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The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2016, trial

dlinn [17]

Answer:

purchase of supplies 5,600

insurance expense 2,300 debit

prepaid insurance 2,300 credit

Explanation:

(1) What was the cost of supplies purchased during December?

invneotry identity:

beginning supplies + purchase = ending supplies + expense

the left side are the input. The supplies could come from previous prior or be pruchase.

The right side the outputit could be consumer or kept at stock

3,100 + p = 4,600 + 3,600

purchase = 4,600 + 3,600 - 3,100 = 5,100

(2) What was the adjusting entry recorded at the end of December for prepaid insurance?

beginning insurance 7,600

ending insurance (5,300)

adjustment: 2,300

there was insurance expired for the value of 2,300

6 0

2 years ago

Marcie frequently requests meetings between her team and counterparts in portland. she often spots issues that will affect both

Lesechka [4]

Marcie is being a leader, but is playing a task role for her team. She is concentrating on what the team needs to get the job or tasks completed. Her behavior is a proactive approach to keep this process running smoothly with no surprises.

6 0

2 years ago

Match the following:

alexira [117]

Answer:

The match is as follow

1. Posting ⇒ E. Copying data from the journal to the ledger

2. Expense ⇒ A. The cost of operating a business; a decrease in stockholders' equity

3. Debit ⇒ K. Left side of an account

4. Trial Balance ⇒ L. The book of accounts and their balances

5. Equity ⇒ F. Assets - Liabilities

6. Net Income ⇒ G. Revenues - Expenses

7. Receivable ⇒ B. Always an asset

8. Chart of Accounts ⇒ H. Lists all accounts with their balances

9. Payable ⇒ I. Always a liability

10. Journal ⇒ D. Lists a company's accounts and account numbers (no account balances in this item)

11. Normal Balance ⇒ C. Side of an account where increases are recorded

12. Ledger ⇒ J. Record of transactions

4 0

3 years ago

Jasmine Smith owns a condo worth $340,000, a car valued at $27,000, and miscellaneous assets worth $8,500. She owes $189,000 on

Misha Larkins [42]

Answer:

her total assets are $422,000

Explanation:

The computation of the total assets is shown below:

Jasmine Smith's total assets is

= Worth of condo + Value of car + Miscellaneous assets + Mutual fund investment

= $340,000 + $27,000 + $8,500 + $46,500

= $422,000

hence, her total assets are $422,000

We simply applied the above formula so that the correct amount could come

7 0

3 years ago

Watson Company has monthly fixed costs of $83,000 and a 40% contribution margin ratio. If the company has set a target monthly i

Rudik [331]

Answer:

$245,000.00

Explanation:

The amount of sales revenue to be made to achieve target profit is computed as follows:

Sales revenue to achieve target income

= Total fixed cost for the period + target profit/ contribution margin

Contribution margin = (Sales - variable cost) / sales × 100

The figure has been given as 40% in the question

Sales revenue to achieve target profit = (83,000 + 15,000)/0.4

$245,000.00

Watson Company has monthly fixed costs of $83,000 and a 40% contribution margin ratio. If the company has set a target monthly income of $15,000, what dollar amount of sales must be made to produce the target income?

Sales revenue to achieve target profit = $245,000.00

8 0

2 years ago