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Helga [31]
3 years ago
5

A corporation's board of directors are - the sole owners of the corporation. - control the day-to-day activities of the corporat

ion. -hire the managers of the corporation. - are personally liable for the debts of the corporation.
Business
1 answer:
Alexeev081 [22]3 years ago
3 0

Answer:

- control the day-to-day activities of the corporation.

Explanation:

The  board of directors are people chosen by the instiution, the owners of the institutions or the members of an institution to govern the institution and be responsible for the actions and directions that the organization takes, they could be owners, workers or externate associates to the institution and they control the day-to-day activities of the corporation.

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The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses
Reika [66]

Answer: Please see explanation column for answers

Explanation: Given Revenue and expenses

Accounts payable $2,000     Miscellaneous expense $1,030, Accounts receivable 10,340        Office expense 1,240

  Cash 21,420,                       Wagesexpense 23,550                       Supplies 1,670  Land 47,000,  Building 157,630,  Dividends 16,570, Fees earned 73,450    

a. income statement for the current year ended March 31.

Fees earned = Revenue

Fees earned                                              73, 450

Expenses Incurred

Wages expense                     -$23,550      

Miscellaneous expense       -  $1,030

Office expense                        -$1,240

Total Expenses                                             25,820

Net income                                                   $47,630

Working : Net income = fees earned ( Revenue )- Total expenses =

$73,450 - $25,820 = $47,630

2.statement of retained earnings for the current year ended March 31.

Retained earning  at April 1ST               $60,000

Net income                                                  $47,630

Dividend                                                       $16,570

Retained earnings                                        $91,060

Working

Retained earning = Retained earning from april 1st + Net income -- Dividend

$60,000 + $47,630) - $16,570 = $91,060

3.

A balance sheet is a company's financial statement that shows its assets, liabilities and shareholders' equity to illustrate  the financial position of the company showing what the company has as its assets, n  is owing , and  the amount  liable to shareholders.at a particular  time. In a balance sheet,  Assets  must equal Liabilities and Shareholders’ Equity..

Balance sheet for Thompson's Computer Service.

Current assets

Cash                                                        $21,420

Account receivables                               $10,340  

Supplies                                                    $1,670

Total current assets $33,430

Property land and equipment

Land                                                           $47,000

Building                                                    $ 157,630

Total Property land and equipment       $204,630

Total assets                                               $238,060                                    

Liabilities and equity

Accounts payable                                              $2,000      

Stock holder's equity    

Common stock                                                 $145,000

Retained earnings                                             $91,060

Stock holder's equity                                      $236,000

Total Stock holder's equity and Liabilities      $ 238,060

we can see in the balance sheet that Stock holder's equity and Liabilities = Total Assets

4 0
3 years ago
Which subjects does the Aspire test assess?
Nikolay [14]

Answer:

five subject areas: English, mathematics, reading, science, and writing

7 0
3 years ago
Sin Qua Corporation is a company listed on the stock exchange and issues corporate bonds. Which statement is most likely true?
ch4aika [34]

Answer:

Investors will have to pay tax on the interest income received from the bonds.

Explanation:

Interest earned from corporate bonds and capital gained through corporate bond transactions is taxable income.  The interest earned from a corporate bond is subject to taxation by both the federal and state governments.

The government will not sell sin Qua corporation bonds as it is a public company.  Bonds do not pay interest quarterly but rather semi-annually or annually.  Again, the maturity of the bond is determined at the time they are issued. Creditworthiness will only affect the bond price but not its maturity period.

Investors will have to pay tax on the interest income received from the bonds is thus the correct statement.

8 0
3 years ago
EA4.
boyakko [2]

Answer:

Explanation:

There is the relation between the variable cost and the product cost & fixed cost and the period cost

The product cost is that cost which is used to make the product. It includes direct material, direct labor, and the manufacturing overhead

In mathematically,

Product cost = Direct material + direct labor +  manufacturing overhead

The period cost is that cost which remain fixed and is incurred when the time passes

Period cost = Salaries of sales person + delivery trucks depreciation + Repairs to office equipment + Advertising expense + usage of office supplies expense

So, the categorization is shown below:

Lumber used to construct decks ($12.00 per square foot)  = Variable cost and Product cost

Carpenter labor used to construct decks ($10 per hour)  = Variable cost and Product cost

Construction supervisor salary ($45,000 per year)  = Fixed cost and the period cost

Depreciation on tools and equipment ($6,000 per year)  =  Fixed cost and the period cost

Selling and administrative expenses ($35,000 per year)  =  Fixed cost and the period cost

Rent on corporate office space ($34,000 per year)  =  Fixed cost and the period cost

Nails, glue, and other materials required to construct deck (varies per job) =

Variable cost and Product cost

3 0
3 years ago
What happens to consumption and investment spending when the Federal Reserve decreases the money supply
Illusion [34]

Answer: Consumption and investment spending decrease or falls.

Explanation:

When the Federal Reserve decreases the money supply, this will lead to a fall in the consumption and investment spending. This is a contractionary policy by the government which is typically used to curb inflation.

Since there's reduction in money supply, there'll be less money in circulation and hence, decrease in consumption and investment expenditure.

3 0
3 years ago
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