5)True or False: Offering sales discounts on credit sales can benefit a seller by decreasing the delay in

Write an e-mail to a client describing situations in which the partnership entity form might be more advantageous (or disadvanta

murzikaleks [220]

<u>Explanation:</u>

Structure and Formation of Corporation and Partnership:

Corporation is a independent legal entity whereas partnership in which two or more partners share ownership.

The formation of partnership entity requires fulfillment of lesser formalities than corporation.

Powers:

A partnership entity can do anything which the partners agree to do and there is no limit to the activities.
The powers of the shareholders are limited unlike the partnership entity.

Management:

Every member of a partnership entity may take part in the management.

Shareholders are not involved but managers run the company.

5 0

2 years ago

The management of Unter Corporation, an architectural design firm, is considering an investment with the following cash flows:

Taya2010 [7]

Answer:

6.50 Years

Explanation:

The computation of the payback period of the investment is shown below;

Total cash outflow is

= $15,000 + $8,000

= $23,000

Now the Cash Inflow in all 6 years is

= $1,000 + $2,000 + $2,500 + $4,000 + $5,000 + $6,000

= $20,500

Cash inflow in Year 7 is $5,000.

But Cumulative Cash flows from Year 1 to Year 7 is

= $20,500 + $5,000

= $26,500

This amount is more than Initial Investment i.e. $23,000.

So our Payback period is between 6 & 7 years i.e.

= 6 + ($23,000 - $20,500) ÷ 5000

= 6.50 Years

7 0

2 years ago

The capital projects fund of Hood River completed construction of an addition to its city hall at a cost of $4,000,000. The city

Vanyuwa [196]

The capital projects fund account for the 10 percent retainage as (B) II only.

<h3>What is retainage?</h3>

Retainage is a percentage of the agreed-upon contract price withheld until the work is substantially completed to ensure that the contractor or subcontractor will fulfill its responsibilities and complete a construction project.
Retention is money kept back by one party in a contract as security for unfinished or defective work.
Assume the contract is worth $20,000 and you're submitting a paid app after finishing 25% of the work.
So you earned $5,000 during the pay period, but retainage is 5%. The current progress payment has been reduced by $250.
As a result, the "Amount Due for this Request" will be $4,750.

So, in the given situation the capital projects fund account for the 10 percent retainage as (II) the credit for $400,000 to Contracts Payable-Retained Percentage, that is (B) II only.

Therefore, the capital projects fund account for the 10 percent retainage as (B) II only.

Know more about retainage here:

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The correct question is given below:
The capital projects fund of Hood River completed the construction of an addition to its city hall at a cost of $4,000,000. The city council approved payment of the amount due to the general contractor, less a 10 percent retainage. How should the capital projects fund account for the 10 percent retainage?

I. As a credit of $400,000 to Deferred Revenue-Retained Percentage

II. As the credit for $400,000 to Contracts Payable-Retained Percentage.

A. I only

B. II only

C. Either I or II

D. Neither I nor II

3 0

1 year ago

Choose one current event. Describe the event and discuss the economic implications of this event. What economic effects might th

Ronch [10]

Answer:

For example, Brexit. Brexit refers to the UK retreat from the European Union, one of the most famous economic unions in the world. The economic implications of Brexit are numerous, ranging from the new tariff regulations to the regulated movement of people and animals through the newly established borders.

As for individuals, let's see the example of an EU citizen seeking a Master's degree in the UK. That student may face a different tuition fee when applying after Brexit.

5 0

3 years ago

Based on the following adjusted trial balance: Peak Corporation Adjusted Trial Balance As of December 31, 2018 Debit Credit Cash

ivanzaharov [21]

Answer:

Determine the amount that will be reported as retained earnings on the post-closing trial balance.

Retainend earnings final___________30000

Explanation:

Cash__________________800

Account Receivable______ 200

Inventory_______________2500

Building________________30000

Accunulated depreciation_______________ 3000

Notes payable_________________________ 500

Common stock_________________________21000

Retainend Earnings_____________________ 5000

Dividens________________1000

Revenue_____________________________ 7000

Selling and administration_ 1000

Insurance expense_______ 1000

36500 36500

Retainend earnings______ 1000 26000

Retainend earnings initial_________ 25000

Net income_____________2000____7000

5000

Retainend earnings final___________30000

8 0

2 years ago