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3 years ago

What is a sole proprietorship?

Business

2 answers:

mamaluj [8]3 years ago

4 0

Answer:

Someone who owns an unincorporated bussiness by himself or herself :D

DanielleElmas [232]3 years ago

3 0

Answer: A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity.

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The following amounts are reported in the ledger of Mariah Company: Assets $ 78,000 Liabilities 41,000 Retained Earnings 9,000 W

Serjik [45]

Answer:

47000

Explanation:

4 0

2 years ago

You are analyzing a project and have developed the following estimates. The depreciation is $11,000 a year and the tax rate is 3

77julia77 [94]

Answer:

no option is correct, check the question to see if it was copied correctly and check the work to verify my answer

$1,430

Explanation:

worst case scenario:

2,500 units sold at $16 = $40,000

variable cost per unit $14 x 2,500 units = $35,000

contribution margin = $5,000

fixed costs = $8,500

depreciation expense = $11,000

cash flow = [(contribution margin - fixed costs - depreciation) x (1 - tax rate)] + depreciation

cash flow = [($5,000 - $8,500 - $11,000) x 0.66] + $11,000 = $1,430

8 0

2 years ago

Doris recently started her position at Monro Company. The company uses the dollar-value LIFO inventory method. On her first day

Furkat [3]

Answer

Explanation:

Cost index in dollar - value LIFO method is used to determine the change in prices since the beginning of he base year by comparing the year end inventory to the base layer cost.

The extended cost of the ending inventory at the most recent price is divided by the cost of the ending inventory at the base year price.

Workings

Cost in term of base layer = $50,000

Cost in term of the layer layer $100,000

Cost index = 100000/50000 = 2

7 0

3 years ago

g At the beginning of the month, the Forming Department of Martin Manufacturing had 22,000 units in inventory, 30% complete as t

Liula [17]

Answer:

62,000 units

Explanation:

Calculation to determine how many units did the Forming Department start and complete in the current month

Total units completed and transferred 84,000 units

Less Inventory at the beginning of this month 22,000 units

Units Forming Department started and completed in the current month 62,000 units

(84,000 units-22,000 units)

Therefore The number of units that the Forming Department started and completed in the current month is 62,000 units

7 0

2 years ago

On January 1, 2020, Echo Company issued $550,000, 16 year, 9%, annual, callable bonds for $475,000. On December 31, 2025, Echo C

Gnom [1K]

Answer:

1. Prepare the Journal Entry to record the Issuance of the Bond

January 1, 2020, bonds issued at a discount

Dr Cash 475,000

Dr Discount on bonds payable 75,000

Cr Bonds payable 550,000

2. Determine the amount of the Discount/Premium that is still not amortized (using the Straight-Line Method)

total bond life = 16 years, 5 years have passed

amortization of bond discount per coupon payment = $75,000 / 16 = $4,687.50

so $51,562.50 have not been amortized yet

3. Prepare the Journal Entry to record the Retirement (Redemption) of the Bond.

Before being able to redeem the bonds, the remaining discount must be amortized:

December 31, 2025, amortization of bond discount

Dr Interest expense 51,562.50

Cr Discount on bonds payable 51,562.50

the journal entry to record the redemption of the bonds

December 31, 2025, bonds redeemed at a loss

Dr Bonds payable 550,000

Dr Loss on retirement of debt 11,000

Cr Cash 561,000

7 0

3 years ago