1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kirill115 [55]
3 years ago
6

Chip and Charlie own a local pizza shop. The pizza was the talk of the neighborhood. When

Business
1 answer:
Sliva [168]3 years ago
8 0

The form of private corporation that Chips and Charlie chose is the S corporation.

An s corporation is a type of privately held corporation that elects to pass its corporate earnings through its shareholders for the purposes of federal tax. This allows a s-corporation to be taxed only once. The company does not pay federal income tax.

In order for a corporation to be classified as a s corporation, it must meet several requirements set forth by the Internal Revenue Service. Some of these requirements include:

  1. Shareholders must not exceed 100.
  2. The corporation should be incorporated in the United States.
  3. The corporation must have only one type of shares.

To learn more about s corporation, please check: brainly.com/question/16128695?referrer=searchResults

You might be interested in
The body of rules and procedures that guide the measurement and communication of financial accounting information is known as?
iris [78.8K]

Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.

Given that there is a body of rules and procedures that guide the measurement and communication of financial accounting information.

We are required to give the name of the body that guide the measurement and communication of financial accounting information.

The body that guide the measurement and communication of financial accounting information is Generally Accepted Accounting Principles.

Generally accepted accounting principles (GAAP) basically refer to a common set of accounting rules, standards, and procedures issued by the Financial Accounting Standards Board . Public companies in the U.S. have to follow GAAP when their accountants compile their financial statements.

Hence Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.

Learn more GAAP at brainly.com/question/17895474

#SPJ4

3 0
1 year ago
In 2020, Wildhorse Corporation reported net income of $1,021,600. It declared and paid preferred stock dividends of $265,100. Du
ikadub [295]

Answer:

Wildhorse’s 2020 earnings per share is $3.79

Explanation:

The computation of the earning per share is shown below:

Earning per share = (Net income - preference dividend) ÷ (Average weighted of common outstanding shares)

where,  

Net income and the preference dividend is $1,021,600 and $265,100

And, the number of shares are 199,600 shares

Now put these values to the above formula  

So, the value would equal to

= ( $1,021,600 - $265,100) ÷ (199,600 shares)

= $3.79 per share

8 0
3 years ago
Select all that apply. When writing your resume, you must include your _____.
Varvara68 [4.7K]
You should include your name but I cant select all that apply you need to include it. I don't even know if it has name in it.
6 0
3 years ago
What are taco meat made out of my mom won’t tell me?
ipn [44]

Answer:

beef

Explanation:

it depends on what type of taco meat but it's mostly beef

4 0
3 years ago
Read 2 more answers
What are the objective of financial report
Fynjy0 [20]
Formal record of the financial<span>activities and position of a business, person, or other entity</span>
5 0
3 years ago
Other questions:
  • Which of the following is not a cost created by high​ inflation? A. Inflationary impacts are not distributed evenly across the​
    13·1 answer
  • An example of an industry especially vulnerable to efforts to protect the environment is the _____ industry.
    12·1 answer
  • Jayhawk Foods Inc. is a snack manufacturer that wants to expand globally. Few people abroad are familiar with Jayhawk Foods snac
    12·1 answer
  • Quasi Contract Middleton Motors, Inc.. a struggling Ford dealership in Madison, Wisconsin. sought managerial andfinancial assist
    9·1 answer
  • Melissa invested her savings in two investment funds. The amount she invested in Fund A was $6000 less than the amount she inves
    11·1 answer
  • Mexico can produce vine-ripened tomatoes at a lower opportunity cost than firms in the United States. Through trade negotiations
    11·1 answer
  • The purpose of expansionary monetary policy is to increase:.
    14·1 answer
  • U. s. treasury securities considered to be risk-free because they have minimal, if any, ____ risk.
    14·1 answer
  • ______________ can arise from the estimation process or the stability of the project team. assumptions internal risks cost overr
    12·1 answer
  • What term is used to describe the practice of unloading materials from an incoming trucks or rail cars and loading these materia
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!