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neonofarm [45]
3 years ago
15

Farrick and Kenley want to form a business in which they invest money in exchange for stock ownership in their organization. Wha

t type of business entity do they wish to form
Business
1 answer:
Svetradugi [14.3K]3 years ago
8 0

Answer:

Limited liability company

Explanation:

In simple words, A limited liability corporation (LLC) is a type of private company structure. It's among the most frequent legal structures for forming a company. In a comprehensive partnerships all members are accountable for the firm and have unlimited accountability for its obligations.

Thus the limited liability structure is most suitable for the two.

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H. Tillman performed legal services for J. Laney. Due to a cash shortage, an agreement was reached whereby J. Laney. would pay H
tresset_1 [31]

Answer:

The journal entry for J. Laney to record this transaction is

Dr legal expenses $12,990

______Cr Common stock $3,100

_______Cr Share premium $8,990

Explanation:

The common stocks are carried at par value of $1. This implies that any price paid in excess of the par value is made provision for in the share premium account.

Again, the common stocks issued are measured at the price required to settle the legal expenses and are paid in excess of par value of $1.

Share premium = ($3.90 - $1) × 3,100

Share premium = $8,990

3 0
3 years ago
Ted's Co. offers a zero coupon bond with an 11.3% yield to maturity. The bond matures in 16 years. What is the current price of
Helga [31]

Answer:

Zero-cupon bond= $835.45

Explanation:

Giving the following information:

Face value= $1,000

YTM= 11.3%

Years to maturity= 16 years

<u>To calculate the price of the bond, we need to use the following formula:</u>

<u></u>

Zero-cupon bond= [face value/(1+i)^n]

Zero-cupon bond= 1,000 / (1.113^16)

Zero-cupon bond= $835.45

3 0
3 years ago
Explain the 5 marketing objectives?
solmaris [256]

Answer:

Creation of Demand 2. Customer Satisfaction 3. Market Share 4. Generation of Profits 5. Creation of Goodwill and Public Image

Explanation:

The basic purpose of marketing management is to achieve the objectives of the business.

6 0
3 years ago
The financial statements of gervais manufacturing company report net sales of $500,000 and accounts receivable of $80,000 and $4
valentinak56 [21]
Receivables turnover ratio can be calculated by dividing the net value of credit sales during a given period by the average accounts receivable during the same period. Average accounts receivable can be calculated by adding the value of accounts receivable at the beginning of the desired period to their value at the end of the period and dividing the sum by two.
500,000÷((80,000+40,000)÷2)
=8.3
4 0
3 years ago
Charge a $5 penalty if an attempt is made to withdraw more money than available in the account.Here the account string is "S" or
romanna [79]

Answer:

C++ code is explained below

Explanation:

class Account {

 double balance;

 double add(double sum) {

   balance += sum;

   return sum;  

 }

 double withdraw(double sum) {

   if (sum > balance) {  

     balance -= 5;

     return -5; // this will come in handy in Prob. 6  

   } else {  

     balance -= sum;

     return balance; // Notice: always >= 0 (never < 0)

   }

 }

 double inquire() { return balance; }  

 Account() { balance = 0; }

 Account(double sum) { balance = sum; }

 double interest (double rate) {

   return rate * balance;  

 }

}

_______________________________

class Bank {

 Account checking;

 Account savings;  

 void deposit(double amount, String account) {

   if (account.equals("C")) checking.add(amount);  

   else // my default

     savings.add(amount);  

 }

 void withdraw(double amount, String account) {

   if (account.equals("C")) checking.withdraw(amount);  

   else // my default

     savings.withdraw(amount);  

 }

 void transfer (double amount, String account) {

   if (account.equals("C"))  

     if (checking.withdraw(amount) >= 0)  

       savings.add(amount);  

     else checking.add(5); // somewhat fault-tolerant

   else // default

     if (savings.withdraw(amount) >= 0)  

       checking.add(amount);  

     else savings.add(5);  // no penalty for transfers

 }

 void printBalances() {

   System.out.println(

     "Checking: " + checking.inquire() +

     "\nSavings: " + savings.inquire()

   );  

 }

}

8 0
3 years ago
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