The answer is A. close corporation.
Suzanne, who started a new restaurant, set up her business as a close corporation in order to keep her personal and business finances legally separate.
<u>Adjusting entry for Rent Revenue:</u>
It is given that a customer rents a vehicle for three months from Commodores rental on November 1, paying $4,050 ($1,350/month). The adjustment is needed to be made for 2 months period (Nov. 1 to Dec. 31)= 1350*2 = $2,700
The adjusting entry for Rent Revenue as on Dec. 31 shall be as follows:
Unearned Rent Revenue Debit $2,700
Rent Revenue Credit $2,700
(Being adjustment made for Rent Revenue)
Suze named ten reasons why YFB’rs are broke. Below are three reasons she identified:
1) The company runs out of cash
2) The company is overpromising and undelivering
3) They invested much on products, thus having left with big inventory
It is termed as Income Summary account.
<h3>Income summary account </h3>
The income summary account is a temporary account into which all income statement revenue and expense accounts are transferred at the end of an accounting period. The net amount transferred into the income summary account equals the net profit or net loss that the business incurred during the period.
The income summary account is recorded by debiting revenue accounts and crediting expense accounts. The balances of the transferred amounts should match with the net income or loss for the year.
Learn more about income summary account here :
brainly.com/question/13537015
#SPJ4
Answer:
C) $70,000
Explanation:
The US Department of Labor has established a range of fines that can be imposed on an employer who willfully or repeatedly violates any OSHA requirement, standard, rule or order. This range of fines starts with a minimum of $5,000 and up to a maximum of $70,000.
