A sole proprietorship is not a legal entity but the person who owns the business and is responsible for paying all debts that the business accrues. This business is linked to the persons social security number and there is no legal distinection between the owner and the business entity. Lucy's sister probably warned Lucy about sole proprietorship and the legal principle that holds her responible for paying off all of the debts of the business.
Answer:
The correct answer is D
lowers; probably changes, but more information is needed to determine if it increases or decreases
Explanation:
The increase in suppliers for strawberries causes the supply curve to shift to the right causing the equilibrium price to lower fro Po to P1.
The increase of price for Kiwis will move the price from Po to P1. The new price is not at equilibrium, as there has not been a shift in demand or supply as shown in the diagram.
Answer:
50,490 units
Explanation:
The computation of the number of units the company should produced is shown below:
= Expected sales units + ending inventory units - opening inventory units
where,
Opening inventory units is 1,350 units
Expected sales units is
= $27,000 + $27,000 × 60%
= $27,000 + $16,200
= 43,200 units
The ending inventory units is
= $43,200 × 20%
= 8,640 units
So, the units to be produced is
= 43,200 units + 8,640 units - 1,350 units
= 50,490 units
Answer:
Accounts Receivable 3,400
Consulting Revenue 3,400
Supplies 1,000
Accounts Payable 1,000
Cash 2,400
Accounts Receivable 2,400
Accounts Payable 1,000
Cash 1,000
Utilities expense 800
Cash 800
Explanation:
The services are earned and were only billed not collected. So the company should reocgnize the receivable
The purchase of supplies is con credit, the company will recognize a liability
When the company collects from the account, it will decrease and cash will increase
When paying the supplier, their cash decrease and the liability is write-off
The utilities expense are cost of the period, so are recognize as expense.
Answer:
29
Explanation:
Central limit theorem states that as a sample being studied grows larger the sampling distribution of samplings means tends to a more normal distribution. This is regardless of the shape of the population.
This holds true usually if the population size is n is equal or greater than 30 (that is greater than 29). It does not matter if the population is skewed or normal.
So with a sufficiently large population the means of each item will be the same as the population mean.
