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3 years ago

Match the description with the business structure type. To match the

Business

1 answer:

Sliva [168]3 years ago

6 0

Answer:

See below

Explanation:

1. Sole proprietorship

A company with one owner, personal liability, and pass-through taxation.

The owner makes all decisions by themselves and keeps all the profits. Business income is also owner income. Likewise, business debts are the owner's debts.

2. LLC

A company with multiple owners, limited liability, and pass-through taxation. A minimum of one owner but no upper limit. Owners are referred to as members.

3. Corporation

A company with multiple owners, limited liability, and higher taxes.

It is regarded as a separate entity from its owners. A corporation is expected to file corporate tax returns.

4. Partnership

A company with multiple owners, personal liability, and pass-through taxation. A partnership is formed when friends or entrepreneurs with similar interests combine efforts to start a business. They develop a partnership deed that guides their business operations.

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Delaney Company is considering replacing equipment that originally cost $600,000 and that has $420,000 accumulated depreciation

Annette [7]

Answer:

$180,000

Explanation:

A sunk cost refers to the cost that is incurred by the businesses but this cost cannot be recovered by the businesses.

Here, given that

Cost of equipment = $600,000

Accumulated depreciation = $420,000

Cost of new machine = $790,000

In this situation, the sunk cost is determined by subtracting the cost that are related to previous year from the cost of the equipment.

Sunk cost = Cost of equipment - Accumulated depreciation

= $600,000 - $420,000

= $180,000

3 0

3 years ago

Penland Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the fi

ratelena [41]

Answer and Explanation:

a. The journal entries are shown below:

Cash Dr $2,040,000 (40,000 shares × $51)

To Preferred stock $2,000,000 (40,000 shares × $50)

To Paid in capital in excess of par - Preferred stock $40,000

(Being the issuance of preferred stock is recorded)

Since the cash is increased so it would be debited along with it the stockholder equity is also increased so preferred stock is credited and the remaining balance is transferred to the paid in capital

Cash Dr $3,360,000 (60,000 shares × $56)

To Preferred stock $3,000,000 (60,000 shares × $50)

To Paid in capital in excess of par - Preferred stock $360,000

(Being the issuance of preferred stock is recorded)

b. The posting is as follows

Preferred Stock

Date Debit Date Credit

1-Feb $2,000,000

1-Jul $3,000,000

Paid in capital in excess of par - Preferred stock

Date Debit Date Credit

1-Feb $40,000

1-Jul $360,000

c. As we know that the stockholder equity comprises of common stock, preferred stock, retained earning, treasury stock, etc

So, the presentation of the accounts is

Preferred stock, $50 par value, 100000 outstanding and issued - $5,000,000

Paid in capital in excess of par - Preferred stock - $400,000

These amount are a sum of preferred stock and paid in capital in excess of par

8 0

4 years ago

Tamadun dalam bahasa Yunani membawa maksud pencapaian yang tinggi dalam kehidupan,sains,industri dan sistem kerajaan.Bincangkan

Mnenie [13.5K]

Translation of question : In Greek civilization meant high achievement in life, science, industry and the government system. Discuss this statement.

Explanation:

Civilization denotes the human society which lives in a particular culture, living conditions and the life. The society is not formed in a day it takes centuries to form a culture and way of living.

The achievements and developments one can see in elements such as life, science, industry and government system in a country is the civilization.

Each part of a community has different culture within a country. Civilization is a collective term for the way of living in a country. Some of oldest civilizations are Greek civilization, Mesopotamian civilization etc

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4 years ago

1. Diane Lexington begins business as a real estate agent with a cash investment of $28,490 in exchange for common stock. 2. Hir

iragen [17]

Answer:

Explanation:

According to the scenario, the following transaction can be put in journal as follows:

Date Account Titles Ref. Debit ($) Credit ($)

Oct. 1 Cash $28,490

Common stock $28,490

Oct.2 No journal

Oct.3 Office furniture $3,276

Accounts payable $3,276

Oct.4 Account receivable $3,600

Revenue on service $3,600

Oct.5 Accounts payable $850

Cash $850

Oct.6 Salary expense $2,500

Cash $2,500

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3 years ago

The distinction between a normal and an inferior good is

Romashka-Z-Leto [24]

Answer:

The correct answer is C. when income increases, demand for a normal good increases while demand for an inferior good falls.

Explanation:

The normal good is that whose quantity demanded for each of the prices increases when the rent increases. A lower good is one whose quantity demanded decreases when income increases. The inferior goods are usually those for which there are higher quality alternatives. When it comes to a normal good, increasing the income of the consumer increases the quantity demanded at each price. Causing a shift in demand to the right.

5 0

3 years ago