1) Partnership. Nick Selver and Rita Andrew began the company as a partnership.
2) partners: This word best describes the interest-holding people in a partnership
3) Incorporate: This word best describes converting the partnership to a corporation in order to democratize ownership of the company and sell stock publicly
4) Stock Market: This is the market in which shares of a public company are traded on the open market.
Answer:
$700,000
Explanation:
As we know that
The income statement is the statement that records the income and the expenditure for a company
The expenses should be shown on debit side while the income or revenue is shown on the credit side
Since the total service revenue earned is $700,000 and the same is to be shown in the income statement as it records all the cash and credit sales or service revenue
Therefore, the total amount i.e $700,000 is reported on the income statement
Answer:
meal option is cheaper with total cost = $2000 and hall only option is total cost $2700
Explanation:
given data
The meal option = $50 per person.
Hall free = $ 0 per person
total guest = 40
hall-only option = $1,500
external caterer = $30 per person
solution
when we go for meal option than hall free so total cost will be as
total cost = total guest × $50 per person
total cost = 40 × $50
total cost = $2000
and
when we go for hall only option than total cost will be
total cost = total guest × external caterer charge + hall-only option
total cost = 40 × $30 + $1500
total cost = $2700
so
meal option is cheaper with total cost = $2000 and hall only option is total cost $2700
Answer:
C) $1,166,000
Explanation:
The sales budgeted will be
unit sales budgeted x unit sales price
we look into the assignment for these numbers:
- February sales 10,600 units
And calcualte: 10,6000 units x $110 sales price
Total sales revenue for the month of February 1,166,000
The rest of the data is irrelevant for the question we are given thus, we ignore it.
Answer:
$17200
Explanation:
A balanced sheet is a statement of financial position that list the assets , liabilities and equities of an organization.
The items that affect the current asset (cash)balance in the balanced sheet for the month in the question are Cash book balance , deposit outstanding and check outstanding.
Cash book balance - 19700
Deposit outstanding - 1800
Less check outstanding - (4300)
17200
