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emmasim [6.3K]
3 years ago
10

The proprietorship form of business organization Question 5 options: must have at least two owners in most states. generally rec

eives favorable tax treatment relative to a corporation. combines the records of the business with the personal records of the owner. is classified as a separate legal entity.
Business
1 answer:
-Dominant- [34]3 years ago
8 0

Answer:

generally receives favorable tax treatment relative to a corporation.

Explanation:

The sole proprietorship is the business organization in which the business is controlled by single person only. The business records would be separated with the owner personal records in this type of business also it would not be classified as a separate legal entity just like corporation

But in this it received the favorable tax treatment as compared with the corporation

You might be interested in
Entry for Issuing Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 103 P
romanna [79]

Answer:

Details below

Explanation:

For issuance of an entry a single transaction is recorded that is work in process account is debited and materials inventory account is credited. In subsidiary ledgers job numbers are debited. For indirect Materials factory overhead is debited.

The  given data is as follows.

Requisition No.            Material         Job No.             Amount

103                                 Plastic              400                 $ 2,800

104                                 Steel                402                    24,000

105                                 Glue Indirect   1,620

106                                  Rubber             403                   3,200

107                                 Titanium           404                    31,600

The entry for materials requisitioned will be

A compound entry can be passed. In this the subsidiary ledger is not included.

Sr. No                  Particulars                                 Debit           Credit                                            

                   Work In Process                             61600

                Factory Overhead                               1620

               Materials Inventory                                                 63200

The one with a subsidiary ledger would look like this.

Sr. No                  Particulars                                 Debit           Credit

                                                      (Subsidiary)

1                     Work In Process                           61600

                                                  ( Job No 400)   2800

                                                   ( Job No 402)   24000

                                                    ( Job No 403)   3200

                                                    ( Job No 404)   31600

                Factory Overhead                               1620

               Materials Inventory                                                 63200

This is combined entry but separate entries can be passed as well .

Sr. No                  Particulars                                 Debit           Credit

                    Work In Process                           61600

               Materials Inventory                                                 61600

Sr. No                  Particulars                                 Debit           Credit

                  Factory Overhead                               1620

               Materials Inventory                                                   1620

Sr. No                  Particulars                                 Debit           Credit

                           (Subsidiary ledger)                

                            ( Job No 400)                          2800

                           ( Job No 402)                            24000

                           ( Job No 403)                             3200

                            ( Job No 404)                            31600

               Materials Inventory   Plastic                                      2800

               Materials Inventory   Steel                                        24000

                Materials Inventory    Titanium                                3200

                Materials Inventory     Rubber                                31600          

In each of the entries above materials inventory is credited.

3 0
3 years ago
__________data, or the facts and figures that have already been collected about the Coffee Collective prior to the research at h
creativ13 [48]

Answer:

The correct answer is c) secondary

Explanation:

The term Secondary data refers to the information that has been collected by someone different than the user. For example, the information collected by government departments sometimes appears on the internet, if any user takes this information from the internet and uses it on any homework, project, business, etc... It is considered such as secondary data.

5 0
3 years ago
Carlos drives to oregon to consult with a client. he works for 1 day and spends 3 days enjoying oregon since the consultation wa
Assoli18 [71]

Answer:

Explanation:

You are able to deduct expenses that are directly related to the business travel.

He can deduct the entire 175 for driving, since he would need to do that no matter if he stayed longer or not. Staying longer doesn't add any extra cost.

He can deduct lodging that covers the amount of time dedicated to business so of the 600 he can deduct 1/4 or $150 since only 1 of the 4 days was business related.

And the $50 for food for the day he spent on business

7 0
2 years ago
10. Nancy White’s employer provides individual and family group health plan coverage, and it pays 80 percent of her annual premi
elena-s [515]

Answer:

$115.38

Explanation:

Since Nancy only has to pay 20% of her health insurance premium, her total biweekly deduction = $3,000 / 26 weeks = $115.38

Generally health insurance premiums are paid on a monthly basis, but lately some health care providers are starting to take quarterly, semiannual and even annual payments. The thing is that you always pay in advance, so generally people choose to pay it with their paychecks. It makes sense, since unless you earn a lot of money, a $3,000 payment would represent a large portion of your salary.

8 0
3 years ago
When the price level rises, the number of dollars needed to buy a representative basket of goods: A. increases, and so the value
muminat

Answer: B. increases, and so the value of money falls.

Explanation: When the price level rises, the number of dollars needed to buy a representative basket of goods<u><em> increases, and so the value of money falls</em></u>. A representative basket of goods refers to a fixed number of consumer goods and services. The price of these goods and services are valued annually. If one or more of these products increase their value you will need more dollars to buy the basket of goods. So, the value of money falls.

7 0
3 years ago
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