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3 years ago

One who assumes all risks for the business and whose personal assets can be taken to pay creditors is called a(n)

Business

1 answer:

insens350 [35]3 years ago

5 0

Answer: Sole proprietor

Explanation:

In a sole proprietorship, the owner is complete control of the business. They own a 100% of the shares and manage all aspects of the business.

Unfortunately as a result, there is no distinction between their assets and those of the business which means that they are personally liable for any risks that the business may incur. If the company goes bankrupt for instance, and the company assets aren't enough to settle debts, the personal assets of the sole proprietor would be sold off to settle the creditors.

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The total payroll of trolley company for the month of october was 960000 of which 180000 represented amounts paid to certain emp

vivado [14]

Answer:

$68,760

Explanation:

The computation of the payroll expense is shown below:

FICA taxes ($960,000 - $180,000) × (7.65% - 1.45%) $48,360

Medicare ($960,000 × 1.45%) $13,920

State unemployment tax {($960,000 - $600,000) × 1%} $3,600

Federal unemployment tax {($960,000 - $600,000) × 0.80%} $2,880

Total $68,760

6 0

3 years ago

Can these two countries gain from trading oil and fish oil?

ozzi

These countries can gain from trade because norway has an absolute advantage producing fish oil.

6 0

3 years ago

Company P has owned 80 percent of Company S for a number of years. This year Company P bought inventory for $100,000 and sold it

Vesna [10]

Answer:

don't know

Explanation:

3 0

2 years ago

When Alex, the marketing manager of Hartwell Inc., realized that his plan to increase sales levels was not producing the results

nadya68 [22]

Answer:A

Explanation:

Planning

7 0

3 years ago

Weighted Average Cost Flow Method Under Perpetual Inventory System

Fudgin [204]

Answer and Explanation:

The computation of the cost od merchandised sold for each sale and the inventory balance after each sale is presented in the attachment below;

The perpetual inventory is the system which updated the inventory as on a regular basis

While on the other hand, the weighted average cost method is the method in which the average cost is calculated after each every purchase is made

In the calculation below:

1. The weighted average cost of $30.90 come from

= (Total inventory cost) ÷ (Total quantity)

= ($180,000 + $1,674,000) ÷ (60,000 units)

= $30.90

1. The weighted average cost of $31.60 come from

= (Total inventory cost) ÷ (Total quantity)

= ($463,500 + $674,100) ÷ (36,000 units)

= $31.60

6 0

4 years ago