The rate of interest banks charge on short-term
loans to their best customers is called the prime rate. This is given to
customers who have good credit record. It serves as the basis of
the lending rates that will be given to other customers. Usually, prime rates are feasible to large corporations and not with sole borrower.
Taxable income is the sum of income used to compute a person's
or a business's income tax due. Taxable
income comprises salaries, pays, bonuses and tips, on top of investment revenue
and unearned revenue. In this case, the corporation have $25 million that came
from US Sources then the additional $10 million is also part of the taxable
income because it is part of the normal course of the business. Therefore,
GreenCo must report $35 million.
Answer:
The total debit in the trial balance gives $72400,same as the total credits
The trial balance is prepared just before the preparation of financial statements such statement of profit or loss ,statement of financial position(balance sheet) as well as cash flow statement.
Find attached spreadsheet containing the trial balance prepared.
Explanation:
The trial validates the arithmetical accuracy of postings done in the ledger accounts.
To prepare the trial balance,balances extracted from the ledgers are required.The rule is that assets,expenses and drawings are debited to trial balance why income,capital and liabilities are credited
Answer:
Venture capitalists typically control all of the seats on a start-up's board of directors, and often represents the single largest voting block on the board.
Explanation:
A venture capital is a type of capital arrangement by venture capital , provided to start up companies with the prospect of potential growth. Companies that provides financies for start up have a stake in the business they are financing. It is usually a high risk business.
Examples of venture capitalist are
Investment banks, pension funds, insurance companies etc.
Before finances can be made by venture capitalist, the initial capital required to start required to start the business is usually provided by the entrepreneur and his family.
Fixed cost is an example of any cost that does not change when the firm changes its output, since it is an amount that is set in stone.
