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Elena-2011 [213]
2 years ago
6

You have a neighbor, Mr. Peterson, who comes to you for advice. He owns a fish and chips restaurant, "The Codfather, LLC" which

he started and has built up for 25 years in the neighborhood. Mr Peterson is ready to retire and wants to transfer ownership of his business to his 40 year old son. What is the best advice to give Mr. Peterson
Business
2 answers:
Vladimir [108]2 years ago
7 0

The first advice I would give Mr. Peterson would be to formalize the transfer. So the first step in this situation would be to contact a good lawyer to see if the transfer of business to your child would be authorized. This is because the transfer of LLCs has rules that may differ from one location to another.

notka56 [123]2 years ago
6 0

Answer:

call up your attourny to see if transferring is possible because rules vary by  state...

Explanation:

It said I had the correct answer lol

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Patrick Company expects to generate freeminuscash of​ $120,000 per year forever. If the​ firm's required return is 12​ percent,
photoshop1234 [79]

Answer:

$6.3 per share

Explanation:

There are two method of Valuation of the firm

  • Weighted average cost of the capital (WACC)
  • Free cash flow to equity (FCFE)

We have to calculate the value of the firm using FCFE. Free cash flow to equity (FCFE) is the amount of cash flow generated by the business and potentially available for distribution among the stockholders.

Value of firm = Free cash flow / required rate of return = $120,000 / 12% = $1,000,000

Market value of Equity = Total value of firm - Market value of Debt - Market value of Preferred share

Market value of Equity = $1,000,000 - $300,000 - $70,000 = $630,000

Value of​ Patrick's stock = Market Value of equity / shares of stock outstanding = $630,000 / 100,000 = $6.3 per share

4 0
2 years ago
Which one of the following statements regarding the economic order quantity (EOQ) is true? a. If an order quantity is larger tha
Nata [24]

Answer:

yes

Explanation:

Because yes

6 0
2 years ago
Next year’s sales forecast shows that 20,000 units of Product A and 22,000 units of Product B are going to be sold for prices of
Lena [83]

Answer:

The budgeted production of Product A for the year would be is 20,400 units

Explanation:

Since in the question, the ending inventory is 20% higher than beginning inventory.

So,

Let us assume the beginning inventory is based on 100. So, for ending inventory it would be 100 + 20 = 120

Now,

Method 1 : Ending inventory = 2,000 × 120 ÷ 100

                                        = 2,400

Method 2 : Ending inventory = 2000 + 2000 × 20%

                                 = 2000 + 400

                                 = 2400 units

In both the methods, the answer is same

After considering the ending inventory, the budgeted could be calculated by using the equation which is shown below:

= Ending inventory + Forecast sales - beginning inventory

=  2,400 + 20,000 - 2,000

= 20,400 units

Thus, budgeted production of Product A for the year would be is 20,400 units.

3 0
2 years ago
A company has an ending accounts receivable balance of $900,000 and estimates that uncollectible accounts will be 2% of its acco
Juliette [100K]

Answer:

$20,000

Explanation:

Allowance for uncollectible accounts will be 2% of its accounts receivable = 2% * 900,000 = $18,000

the balance of the Allowance for Doubtful Accounts after year-end = a credit balance of $2,000 + allowance for  uncollectible accounts in year of $18,000

= $20,000

5 0
2 years ago
. A company is authorized to issue 750,000 shares of $5 par value common stock. Prepare journal entries to record the following
Rudiy27

Answer:

The answers are:

<u>January 10</u>

Cash                                          $816,000

Common stock                                                  $510,000

Contributed capital in excess

of par value, common stock                             $306,000

<u>January 15</u>

Equipment                                   $80,000

Common stock                                                    $50,000

Contributed capital in excess

of par value, common stock                               $30,000

<u>February 1</u>

Organizational expenses              $3,000

Common stock                                                    $25,000

Contributed capital in excess

of par value, common stock                                    $500

Explanation:

Contributed capital in excess of par value is the amount of money (or other assets) over the par value of stock (in this case $5 per common stock) that the company received form shareholders in exchange for stock.

5 0
2 years ago
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