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3 years ago

Suppose you own a successful bicycle repair business. why would you consider incorporating?

1 answer:

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In order to raise money more easily. Incorporating is the act of creating a new corporation under given rules of a country. It may also refer to creating a limited liability company. Incorporating helps the owners of the businesses to protect their personal assets, since corporations and limited liability companies offer more business protection the sole proprietorship.

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The way the bank determines the balance on which to calculate your interest is known as _____.

neonofarm [45]

The way a bank determines the balance on which you calculate your interest is known as an annual percentage rate. In reality, the banks take the annual percentage rate and charge a person on their daily interest rate. You can find out the daily rate by taking the APR, annual percentage rate, and divide it by the number of days in a year. The correct answer is D.

4 0

3 years ago

Read 2 more answers

An attempt to gain control of the firm by buying sufficient shares of the target firm in the marketplace is known as a ________

nikdorinn [45]

Answer:

d. hostile takeover; tender offer

Explanation:

The hostile takeover is the transaction of the merger in which the management of the firm i.e. targeted would not support and acquirer could attempt to gain the control for purchasing the enough shares. And this could be achieved via a tender offer

Therefore as per the given situation, the option d is correct

hence, the same is to be considered

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3 years ago

Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business,

JulsSmile [24]

Answer:

Ayala Architects

General Journal

April 1

Debit : Cash $18,270

Credit : Common Stock $18,270

April 1

Debit : Salaries expense ($381 x 4) $1,524

Credit : Salaries Payable $1,524

April 2

Debit : Rent expense $914

Credit : Cash $914

April 3

Debit : Supplies $1,320

Credit : Accounts Payable - Burmingham Company $1,320

April 10

Debit : Accounts Receivable $1,929

Credit : Service Revenue $1,929

April 11

Debit : Cash $711

Credit : Deferred Revenue

April 20

Debit : Cash $2,842

Credit : Service Revenue $2,842

April 30

Debit : Salaries expense $1,524

Credit : Cash $1,524

April 30

Debit : Accounts Payable - Burmingham Company $305

Credit : Cash $305

Explanation:

Journal entry for the transactions have been prepared above.

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3 years ago

A profit center is evaluated by the rate of return earned on the investment allocated to the center. referred to as a loss cente

aliina [53]

Answer:

a responsibility center that incurs costs and generates revenues.

Explanation:

We know that

The profit = Sales revenue - cost

After selling the product and incurred expenses, the amount which is left is shown as a profit. The remaining amount is termed as a profit that a firm has earned during a particular year.

It is the responsibility center at which we know about the total cost incurred and total revenues earned so that it becomes easy to compute how much the firm has earned the profit in a year.

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3 years ago

Which of the following is not true concerning account titles:multiple choiceThere is a wide range of account titles among differ

astra-53 [7]

Answer:

There is a wide range of account titles among different types of companies

Explanation:

An account title can be regarded as a

unique name that is been assigned or associated to particular account in an accounting system. It is very crucial to use An account title when there is a need for identification of accounts by

accounting staff , this is because the title usually conveys the purpose of that particular account. Some of the account titles that can be used are;

Cash on Hand, Petty Cash Fund, and

Cash in Bank,. In account titles;

✓All companies use exactly the same account titles.

✓There is a small range in account titles regardless of type of company.

✓All companies use different account titles.

5 0

3 years ago