They should understand when they need professional advice, they need to get it. Let the small business owner hire a tax accountant, lawyer, and subscribe to a debt collection service. (<span>Kevin k)</span>
Answer:
c. be partially met
Explanation:
Business ethics obligations is what a firm ought to do, course of action is defined and draws a line between right and wrong.
A business has an ethical obligation to make profit for its owners and also to give back to society by supporting other busines growth.
Invested Capital Corporation is fulfilling its obligations to society by providing other firms with funds to expand their operations. Their business ethics obligation is partially met because they are not also focusing on their own productivity.
Analyze transactions- Post individual transactions into a single account, Transfer journal entries to ledger-Summarize data in the ledgers, Prepare the financial statements-Evaluate profit/loss of the firm, Record transactions in journals--Prepare income statement, Take a trial balance-Record financial data, Analyze source documents- Separate purchasing receipts from sales documents.
<h3>What is profit and loss?</h3>
Profit is the excess amount of the firm, which the business has attended in the financial year of working. I t includes the net profit. Loss is the amount that a firm occurred during a year, it covers the net loss of the firm.
Thus, the statement are matched above.
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Answer:
<em>C. $0 dividend income and a tax basis in the new stock of $56.25 per share</em>
Explanation:
Existing tax basis
= 300 shares * $90
= $27,000
Latest stocks attributable to stock dividend to be given to Diana,
= 300 * 3/5
= 180
Therefore the total number of shares will be, after dividend,
= 180 + 300
= 480
So new tax basis per share
=27,000 / 480
<u><em>= $56.25</em></u>
Answer:
Equipment and notes payable
Explanation:
Since the equipment is purchased by signing the note payable which affected the two accounts i.e equipment and the note payable. In this, the cash transaction is not involved, so cash should not be considered
The journal entry would be
Equipment A/c Dr $10,000
To Notes payable $10,000
(Being the equipment is purchased by signing a note payable)
