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andreev551 [17]
3 years ago
8

What benefit dose a corporation have that a partnership and sole proprietorship do not

Business
1 answer:
andrezito [222]3 years ago
3 0

Answer:

An unlimited life spam

Explanation:

If your firm has an existence independent, it will continue to exist indefinitely unless it is legally disbanded. Limited liability prevents you from being held personally liable for their company's obligations or legal judgements. Shareholders were protected from legal responsibilities and debts by corporate entities.

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After graduation from college, you will receive a substantial increase in your income from a new job. If you decide that you wil
Taya2010 [7]

Answer:

c. inferior good.

Explanation:

Inferior goods are items purchased buy a consumer as a result of his limited income such that when that consumer's purchasing power increases, he purchases other commodities in place of the one initially purchased.

Hence the  purchase more T-bone steak and less hamburger is an indication that hamburger is an inferior good to the consumer.

7 0
3 years ago
Vertical integration allows the firm to gain market power as the firm develops the ability to save on its operations, avoid mark
Wewaii [24]
True i answered this question in class
8 0
3 years ago
Adcock Company issued $600,000, 9%, 20-year bonds on January 1, 2020, at 103. Interest is payable annually on January 1. Adcock
FromTheMoon [43]

Answer: Please find answers in explanation column.

Explanation:

a. Journal to record The issuance of the bond

Date Account Titles  Debit              Credit  

Jan. 1 Cash               $618,000  

    9%  Bonds payable                             $600,000  

      Premium on Bonds payable             $18,000

Calculation

Cash = 600,000 x 103% =$618,000

   

b. The accrual of interest and the premium amortization on December 31, 2020

Date Account Titles     Debit             Credit  

Dec. 31 Interest expense    $53,100  

Premium on Bonds payable     $900  

       Interest payable                             $54,000

Calculation

Interest = 600,000 x 9% = $54,000

Premium on bonds = 18,000 /20 = $900

Interest expense=$54,000- $900=$53,100

c.Journal to record  The payment of interest on January 1, 2021.     Date Account Titles           Debit       Credit  

Jan. 1 Interest payable        54000  

                    Cash                                     54000  

d) Journal to record The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.  

Date Account Titles and Explanation Debit      Credit  

Jan. 1, 2 Bonds payable                      $600,000  

       Cash                                                            $600,000

5 0
3 years ago
Exchange corp. is a company that acts as a facilitator in tax-favored real estate swaps. such swaps, know as 1031 exchanges, per
Vikki [24]

Answer:

1) No, the report prepared by the bookkeeper is not useful as a performance report is prepared in <em>per unit</em> <em>basis</em> not on <em>Total basis.</em>

<em />

See performance report attached.

3 0
3 years ago
In addition to the owner, how many employees can a sole proprietorship have?
Vlad [161]

Answer:

A sole proprietorship is a business owned by only one person. The most common form of ownership, it accounts for about 72 percent of all U.S. businesses[1]. It’s the easiest and cheapest type of business to form: if you’re using your own name as the name of your business, you just need a license to get started, and once you’re in business, you’re subject to few government regulations.

As sole owner, you have complete control over your business. You make all important decisions, and you’re generally responsible for all day-to-day activities. In exchange for assuming all this responsibility, you get all the income earned by the business. Profits earned are taxed as personal income, so you don’t have to pay any special federal and state income taxes.

Explanation:

5 0
3 years ago
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