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uysha [10]
2 years ago
5

Am 16 years old and I love little kids. I like to organize special events—like birthday parties for children. I have decided tha

t a great way to earn extra money is to provide families with children’s birthday parties for a modest fee. I do it all—arrange the food, supply the music, decorate the party room, play games, give away small prizes, even play the part of Bongo, the Birthday Clown. Families I know love the idea. I have an advertising plan figured out, with posters to put up at the local grocery stores.
What type of business organization do you recommend? Why?
Business
1 answer:
inessss [21]2 years ago
6 0

The type of business organization recommended in this case is the sole proprietorship, which is a business managed by a single person, with greater facilities to start up.

<h3 /><h3>Sole Proprietorship characteristics</h3>

It is owned and managed by only one person, with no legal distinction between the company and the owner, that is, it is an unincorporated company, whose owner is responsible for paying personal income taxes on the company's profits.

Therefore, the advantages of a sole proprietorship are the reduction of bureaucracy and interest rates, giving the owner greater possibility of creating and maintaining the business.

Find out more about Sole Proprietorship here:

brainly.com/question/4442710

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During the year, Belyk Paving Co. had sales of $2,560,000. Cost of goods sold, administrative and selling expenses, and deprecia
scoundrel [369]

Answer:

Net income -$268,000

Operating Cash Flow $511,000

Explanation:

A. Calculation for the Net income

INCOME STATEMENT

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Cost of goods sold $1,364,000

Other expenses $685,000

Depreciation $477,000

EBIT $34,000

Interest $302,000

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Taxes (24%) 0

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CALCULATION FOR EBIT

Sales $2,560,000

LESS:Cost of goods sold ($1,364,000)

Other expenses ($685,000)

Depreciation ($477,000)

EBIT $34,000

Based on the information given we were told that we should ignore any tax loss which was why Taxes (24%) was $0

The taxes are zero since we are ignoring any carryback or carryforward provisions.

Therefore NET INCOME is -$268,000

B. Calculation for operating cash flow

Using this formula

Operating Cash Flow = EBIT + Depreciation - Taxes

Let plug in the formula

Operating Cash Flow= $34,000 + $477,000 - 0

Operating Cash Flow = $511,000

Therefore Operating Cash Flow is $511,000

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