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2 years ago

Which sentences describe characteristics of a sole proprietorship?

1 answer:

3 0

Sole Proprietorship- A type of business organization that has one owner. The owner is personally liable for paying the business's debts.
Characteristics
Ownership: Owned by 1 person.
Formation: No formal filing or agreement necessary to form.
Liability: Owner could lose personal assets to meet obligations of business.
Closing: Ends with death of owner or closing of business.

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Quaker State Inc. offers a new employee a single-sum signing bonus at the date of employment. Alternatively, the employee can re

Hatshy [7]

Answer:

$80.364.45

Explanation:

The lump sum that would make the employee indifferent can be determined by calculating the present value of the annuity

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow in year 0 = $10,000

Cash flow in year 1 = $40,000

Cash flow in year 2 = $40,000

I = 9%

PV = $80,364.45

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

6 0

2 years ago

Huron has provided the following year-end balances: Cash, $25,000 Patents, $7,900 Accounts receivable, $9,300 Property, plant, a

WITCHER [35]

Answer:

$74,900

Explanation:

Given that,

Cash = $25,000

Patents, = $7,900

Accounts receivable, = $9,300

Property, plant, and equipment, = $98,700

Prepaid insurance, = $3,600

Accumulated depreciation, = $10,000

Inventory, = $37,000

Retained earnings, = 15,500

Trademarks, = $12,600

Accounts payable, = $8,000

Goodwill, = $11,000

Therefore,

Huron's current assets:

= Cash + Accounts receivable + Prepaid insurance + Inventory

= $25,000 + $9,300 + $3,600 + $37,000

= $74,900

3 0

1 year ago

The Digital Electronic Quotation System (DEQS) Corporation pays no cash dividends currently and is not expected to for the next

sergejj [24]

Answer:

Kindly check attached picture

Explanation:

Kindly check attached picture for detailed explanation

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2 years ago

Sebastian Belle has performed $2,000 of CPA services for a client but has not billed the client as of the end of the accounting

Volgvan

Answer: The answer is: Debit Account Receivable $2,000; Credit Unearned Revenue $2,000.

Explanation: The accounting entries above were premised on the accrual accounting concept, which states that income and expenses are recognized as they occur regardless of when actual cash settlement takes place. The amount was credited to unearned revenue simply because the client has not been billed and there is not further information on the duration of the service. Therefore, the amount would be unwound from the unearned revenue to income, based on the duration of service and percentage of completion. However, when the client pays, the account receivable account would be credited.

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2 years ago

Which scenario is an example of a true ethics dilemma? a. Sure-Good Soup Company is thinking about using more expensive organic

Nadya [2.5K]

Answer:

B and C

Explanation:

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2 years ago