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3 years ago

Limited Liability Companies (LLCs) are gaining in popularity over sub-chapter S corporations because:_____.

Business

1 answer:

Kisachek [45]3 years ago

7 0

Answer:

E. They are simpler when it comes to paperwork, offer some of the same tax advantages and also protect members from unlimited financial exposure

Explanation:

Limited liability companies are set up to protect the owners from liability. The business is a seperate entity from the individual owners and their assets are not used to settle debts of the business.

This type of business is gaining more use than S corporation. S corporation in addition to having liability advantages also requires more rigid requirements to set up. They do not pay corporate tax, but rather are taxed as sole proprietorship or a partnership.

Because of the ease of setting up an LLC more people prefer it to an S corporation. It also protects owners from unlimited financial liability

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Neporo4naja [7]

Businesses collect demographic information on where people live, what they buy, and how they spend their time. Businesses collect demographic information on where people live, what they buy, and how they spend their time.

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3 years ago

Which of the following are considered characteristics of money? I. Portable II. Uniform III. Divisible IV. Acceptable a. I and I

pogonyaev

All options are considered characteristics of money. So the right option is E

Explanation:

Money is characterised by durability portability, divisibility, uniformity, limited supply, and acceptability.

Two representations of alternative forms of money can be compared:

A cow In various points in history, cattle were used as currency.
A stack of US$ 20 bills equal to one cow's worth.

1) Durability: A cow is quite safe, but a long journey on the market threatens the cow being sick or dead and can seriously reduce its worth.

2) Portability: Although the cow is hard to move to the market, it can easily be put into my pocket.

3) Divisibility: A 20-dollar bill can be exchanged for other denominations, say a 10, a 5, four 1s, and 4 quarters. A cow, on the other hand, is not very divisible.

4) Uniformity: Cows come in various sizes and shapes, with a different value for each; cows are not very standardized.

5) Limited supply: Money must have a limited supply to sustain its worth. Although cows are quite limited in supply, if they are used as income, ranchers should make every effort to increase the supply of cows that decreases their value. The Federal Reserve controls the rule and thus the interest of 20-dollar notes— and the currency as a whole— so that the money keeps the value over time.

6) Acceptability: Although the worth of cows is intrinsic, some might not consider bovine animals as property. Men, however, are more than willing to accept bills worth 20 cents. In fact, your right to use US currencies to settle bills is protected by the US government.

8 0

3 years ago

The board of directors of McKay Company has approved a 20% stock dividend. The firm currently has net income of $900,000. There

nlexa [21]

Answer:

$20

Explanation:

Current Stock Price:

= (Net income ÷ common shares outstanding) × P/E ratio

= (900,000 ÷ 300,000) × 8

= $24

No of Stock Dividend issued:

= common shares outstanding × Percent of stock dividend approved

= 300,000 × 20%

= 60,000

No of Outstanding Sharing share after stock dividend:

= common shares outstanding + No. of Stock Dividend issued

= 300,000 + 60,000

= 360,000

Common stock price after the stock dividend:

= = (Net income ÷ common shares outstanding after stock dividend) × P/E ratio

= (900,000 ÷ 360,000) × 8

= $20

6 0

3 years ago

What are some of the challenges the federal and state governments face in trying to implement a fair tax system?

kow [346]

Answer:

taxation should follow the four principles of fairness, certainty, convenience and efficiency. Fairness, in that taxation should be compatible with taxpayers' conditions, including their ability to pay in line with personal and family needs.Tax administration must be free of corruption and able to address all the challenges that come its way. These challenges may involve tax collection, management of taxes and duties at borders, introduction of an effective Value Added Tax or sales tax, and administration of developing law. The primary purpose of a tax is to raise revenue for governmental activities, rather than to influence business and personal decisions. Economic growth and efficiency The tax system should not unduly impede or reduce the productive capacity of the economy.

8 0

3 years ago

On January 2, 2020, Sheffield Corp. began construction of a new citrus processing plant. The automated plant was finished and re

djverab [1.8K]

Answer:

1. What were the weighted-average accumulated expenditures for 2020?

c. $1,200,000

$600,000 x 12/12 (from January to December) = $600,000

$1,800,000 x 4/12 (from October to December) = $600,000

total $1,200,000

2. The interest capitalized for 2020 was:

b. $144,000

$1,200,000 x 12% = $144,000

3. What were the weighted-average accumulated expenditures for 2021 by the end of the construction period?

d. $4,158,000

$600,000 x 9/12 (from January to September) = $450,000

$1,800,000 x 9/12 (from January to September) = $1,350,000

$144,000 x 9/12 (from October to December) = $108,000

$1,800,000 x 6/12 (from April to September) = $900,000

total $4,158,000

4. The interest capitalized for 2021 was:

b. $354,915

$3,300,000 x 12% x 9/12 = $297,000

($4,158,000 - $3,300,000) x 9% x 9/12 = $57,915

total $354,915

4 0

3 years ago