One major advantage of organizing a business as a sole proprietorship is
that:
A. the owner has total control over the company.
B. the company has an unlimited life span.
C. legal liability is spread among many people.
D. it is easy to quickly raise large amounts of capital.

Answers

Answer 1

Answer:

A

Explanation:

the owner has total control over the company

Answer 2

One major advantage of organizing a business as a sole proprietorship is that the owner has total control over the company.

What is sole proprietorship?

A sole proprietorship is an unincorporated business that is also known as a sole trader or a proprietorship with only one owner who is responsible for paying personal income tax on the company's profits. Since it's not essential to register a distinct business or trade name, many sole owners operate under their own identities. Due to a lack of governmental oversight, a sole proprietorship is the most straightforward type of business to start or dissolve. As a result, consultants, sole proprietors, and other freelancers frequently operate these kinds of enterprises. The majority of small firms begin as sole proprietorships, grow, and ultimately convert to a corporation or limited liability entity.

The quickest and easiest way to start a firm with just one owner is through a sole proprietorship. As soon as you start operating your business, you become a sole proprietor. It is the best approach for new self-employed individuals to get started because it doesn't need submitting federal or state forms and has little regulatory constraints.

In that no separate legal organization is created, a single proprietorship differs significantly from a corporation (corp. ), limited liability company (LLC), or limited liability partnership (LLP). As a result, the proprietor of a sole proprietorship is not immune from the obligations imposed by the business.

The key advantages of a sole proprietorship are the pass-through tax benefit, the simplicity of formation, and the minimal startup and ongoing costs.

A sole proprietorship has several drawbacks, including unrestricted liability that extends beyond the business to the individual and the challenge of acquiring capital backing, particularly through recognized methods such issuing shares and securing bank loans or lines of credit.

Therefore, business owners who operate as sole proprietors start out as an entity with limitless liability. As the company expands, they frequently switch to a limited liability entity that does provide some level of protection to the owners.

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Related Questions

xpire December 31, 2025. Each option has a fair value of $1 based on an option pricing model. Which is the correct entry to record the exercise of 70% the options on April 15, 2024, when the market price of the stock was $6

Answers

Answer:

The correct option is 2)Debit Cash 140,700, Debit Paid in Capital- stock options 46,900, Credit common stock 46,900, Credit Paid in capital- excess of par 140,700

Explanation:

Preparation of Journal Entry to record the exercise of 70% options

Dr Cash 140,700

(67,000 x 70% x 3)

Dr Paid in Capital- stock options 46,900

[67,000 x 70%)

Cr To Common stock 46,900

(67,000 x 70% x 1]

Cr To Paid in capital- excess of par 140,700

I have $10,967.74 in a brokerage account, and plan to deposit an additional $6,000.00 at the end of every future year until my account totals $270,000 and I expect to earn 13% annually on the account. How many years will it take

Answers

Note that with respect to the deposite, it will take approximately 8.19 years for the account to reach $270,000.

How  is this so?

To determine how   many years it will take for the account to reach $270,000,we can use the future value of an annuity formula.

The formula is -  

FV = P  x  [(1 + r)ⁿ⁻¹] / r

Where -  

FV = Future value ($270,000)

P = Annual deposit ($6,000)

r = Interest rate per period (13% or 0.13)

n = Number of periods (number of years)

We need to solve for n, so we can rearrange the formula as -  

n = log((FV  x  r / P) + 1) / log(1 + r)

Plugging in the values -  

n = log((270000  x  0.13 / 6000) + 1) / log(1 + 0.13)

Using a calculator, we find that n is approximately 8.19.

thus, it is corect to state that, it will take approximately 8.19 years for the account to reach $270,000.

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Information accessibility focuses on ________.

a. defining what information a person or organization has the right to obtain about others.
b. information that has been encrypted by the owner to make it unaccessible to others
c. who owns information about individuals and how information can be sold and exchanged
d. what information an individual should have to reveal to others in the workplace
e. identifying who is responsible for informational errors that harm people

Answers

Answer:

A) Defining what information a person or organization has the right to obtain about others.

The Boat Works currently produces boat sails and is considering expanding its operations to include awnings. The expansion would require the use of land the firm purchased three years ago at a cost of $197,000 that is currently valued at $209,500. The expansion could use some equipment that is currently sitting idle if $7,500 of modifications were made to it. The equipment originally cost $387,500 five years ago, has a current book value of $132,700, and a current market value of $139,000. Other capital purchases costing $520,000 will also be required. What is the value of the opportunity costs that should be included in the initial cash flow for the expansion project

Answers

Answer:

$348,000

Explanation:

Opportunity cost = Market value of land + Market value of the equipment

= $209,500 + $139,000

= $348,000

Therefore, the opportunity cost to be incurred in the initial cost is $348,000. Note: $7,500 is idea for this project, so it is not an opportunity cost

An entrepreneur who is green focuses on
a. helping others who are in need.
b. conserving resources.
c. operating with integrity.
d. finding societal needs that are not being met by the government.​

Answers

Hello!

An entrepreneur who is green focuses on environmental issues and the best options for sustainable businesses.

In this question, the best answer is B. "conserving resources."

I hope this helps you! Have a great day!

- Mal

A downside to absorption costing is: ____________

a. not including fixed manufacturing overhead in the cost of the product
b. that it is not really useful for managerial decisions
c. that it is not allowable under GAAP
d. that it is not well designed for cost-volume-profit analysis

Answers

Answer: that it is not well designed for cost-volume-profit analysis

Explanation:

Absorption costing refers to the managerial accounting method that is used for capturing all the costs that are associated with the manufacturing of a product. In this case, the direct costs and the indirect costs are all accounted for through the use of this method.

Some of the downside to absorption costing include the fact that it isn't

helpful in a scenario whereby improvement in the financial and operational efficiency is to be analysed. Also, the true reflection of the profit of a business may not be given and it is not well designed for cost-volume-profit analysis.

Therefore, the correct option is D.

you make sure that when you hire new people, you remember that workers grant managers their authority, not the other way around. you also look for workers who are skilled in cooperation, so they will work more effectively with others to make the organization successful.

Answers

This statement suggests that the speaker believes in a human resource management approach that emphasizes employee empowerment and collaboration.  

What is the meaning of the statement

This statement suggests that the speaker believes in a human resource management approach that emphasizes employee empowerment and collaboration. By recognizing that workers grant authority to managers, the speaker is recognizing the importance of building trust and respect with employees.

By looking for workers who are skilled in cooperation, the speaker is valuing the ability to work effectively in a team, which is often essential for success This approach is consistent with the principles of transformational leadership, which seeks to inspire and motivate employees to achieve their full potential and contribute to organizational success.

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Can you think of other ways ethics and corporate social responsibility information could be communicated in an engaging way?

Answers

An objective tone that isn't overly self-congratulatory or promotional is the best strategy for CSR communications. In your communications, be sincere and fair. That entails spreading more than simply good news.

What ethical and socially responsible practices do firms display?

A firm can embrace social responsibility in a number of ways, including giving, encouraging volunteerism, using ethical hiring procedures, and making changes to the environment. For instance, businesses trying to minimize their environmental impact would try to cut back on waste and carbon emissions.

How are business ethics and corporate social responsibility related?

Therefore, corporate social responsibility (CSR) is more focused on the corporation (or organization) and its obligations and behavior to other stakeholders in the larger social system, as opposed to business ethics, which is more focused on the role and responsibilities of managers and employees as business agents.

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12). Katja recently joined your team after she felt some uncertainty about working on a remote team. How can you best assure Katja that she can be successful?

A) Introduce her to the other team members before she starts.

B) Ask what she needs in order to be successful before she starts.

C) Provide all the tools she needs for success before she starts.

Answers

To reassure Katja that she can succeed, introduce her to the other team members before she begins. Therefore, option (A) is correct.

The Slovak father and Czech mother gave birth to Katja Krasavice on August 10, 1996, in Teplice. When Krasavice was a young child, the family relocated to Liebschütz in Germany. Krasavice's brother, who had thigh cancer, passed away when she was just 5 years old.

Her father started drinking as a result of this tragedy, and he started treating her mother badly. Her other brother died by in prison when he was 11 years old. Krasavice later gave a court testimony against her father, who had  members assaulted her friends, at a later point in her life.

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In your own words, define Linear Regression. Describe an example of how
linear regression could be utilized in business.

Answers

Answer:

linear regression

Explanation:

Linear regression quantifies the relationship between one or more predictor variable(s) and one outcome variable. Linear regression is commonly used for predictive analysis and modeling. For example, it can be used to quantify the relative impacts of age, gender, and diet (the predictor variables) on height (the outcome variable). Linear regression is also known as multiple regression, multivariate regression, ordinary least squares (OLS), and regression. This post will show you examples of linear regression, including an example of simple linear regression and an example of multiple linear regression.

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The area of law that protects Coca-Cola® (with is accompanying ®) is
trademark.
patent.
copyright.
contract.

Answers

Answer:

Trademark

Explanation:

The “R” inside the circle stands for “registered.” The “R” and circle together form the federal trademark registration symbol. In commerce, the symbol shows that your business officially owns its trademark by U.S. Patent and Trade Office (pto.gov) standards.

Note:

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When third-party ownership is involved, applicants who also happen to be the stated primary
beneficiary are required to have:
all statements be warranties
insurable interest in the proposed insured
the agent complete a third-party application
all those involved be family related

Answers

Answer:

insurable interest in the proposed insured

Explanation:

In the case when third-party ownership is included so the applicants are treated as the beneficiary and then needed to have an insurable interest.

The information regarding the third-party ownership should involve the following things:

It refers to the situation where the third party should invest in the economic rights for receiving the share of any type of future transfer.And at the time when the third party is treated as the beneficiary so it should have an insurable interest in the upcoming insured.

So, the other options are incorrect.

Therefore we can conclude that In the case when third-party ownership is included so the applicants are treated as the beneficiary and then needed to have an insurable interest.

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When third-party ownership is involved, applicants who also happen to be the stated primarybeneficiary

Taco Bell processes on average 1,500 customers per day (15 hours). On average there are 75 customers in the restaurant (waiting to place the order, waiting for the order to arrive, eating, etc.). How long does an average customer spend at Taco Bell and what is the average customer turnover

Answers

Answer:

1.333 customers per hour

Explanation:

The computation of average customer turnover is shown below:-

number of customers processed per hour = 1,500 ÷ 15

= 100 customers per hour

Now,

Average time spend by the customer is given as the ratio I/R = 75  ÷  100

= 0.75 hours

or

= 45 minutes

Customer turnover = 100  ÷  75

= 4/3

or

= 1.333 customers per hour

Rebecca Siddoway own and operate Country Candies. Siddoway specializes in making rich, creamy toffees that she packages in attractive gift boxes and sells through the mail. What would be the advantage to Siddoway if she decides to incorporate her business?
1) Corporations have fewer government restrictions and regulations.
2) Corporations have guaranteed loans for expansion.
3) Corporations pay lower and fewer taxes.
4) Corporations have an enhanced ability to attract financing.
5)Customers and suppliers would treat her with greater respect if she operated her business as a corporation instead of a sole proprietorship.​

Answers

The advantage to Siddoway if she decides to incorporate her business is Corporations have an enhanced ability to attract financing.

A Corporations is an organization (usually a group of people or a legal entity) authorized by the State to act as a single entity and legally recognized as such for a specific purpose. Early incorporated entities were established by charter. Most jurisdictions now permit the formation of new companies by registration.

The company is managed and supervised by its directors and officers. Directors are appointed by shareholders and are responsible for the overall management and corporate governance of the company. The directors appoint officers who are responsible for the day-to-day management and operations of the company.

A Corporations company consists of shareholders, a board of directors and officers. When incorporating a company, owners and managers must be organized and given responsibilities and rights according to the rules laid down in the state corporate law.

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Which of the following is NOT a benefit of investing in a mutual fund?
O diversification
O skilled investors
O affordability
O lower potential gains

Answers

Lower potential gains is not a benefit of investing in a mutual fund

What are mutual funds?

A mutual fund is a type of financial instrument that combines investor capital with a single investing goal. Depending on the goals of the scheme, it subsequently invests the funds in different asset classes including equities and bonds. In general, mutual funds are considered to be a secure investment and an excellent way enabling investors to invest with little risk. A mutual fund may not always be the best option for a market participant, particularly when it comes to costs.

Reasons for high costs

The Charges.market ambiguityThe Managers of Funds.The type of fund.Size of the Fund.Taxation Associated With Your Mutual Fund

For a variety of reasons, such as large inflows or to retain exclusivity, mutual funds and hedge funds may decide to close to new participants. When a fund is winding down, funds may also close to new investors because of subpar performance.

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Identify the financial statement on which each of the preceding items would appear. If an item appears on mor
IS Income statement
SE
Statement of stockholders' equity
BS
Balance sheet

2. Accrued interest payable

Answers

The accrued interest payable would appear on the balance sheet. The balance sheet is a financial statement that reports a company's assets, liabilities, and equity at a specific point in time. The correct option is balance sheet.

The accrued interest payable is a liability that represents the amount of interest owed by the company but not yet paid. This liability would be included under the "current liabilities" section of the balance sheet, which reports the obligations that a company is expected to pay within one year.

In summary, the balance sheet is the financial statement where accrued interest payable would appear. It is important to note that financial statements provide valuable information to investors, creditors, and other stakeholders to evaluate the financial health of a company and make informed decisions.The correct option is balance sheet.

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Life insurance immediately creates an estate upon the death of an insured. Which of the following
policies is characterized by a guaranteed minimum death benefit?

Answers

The type of policy that is characterized by a guaranteed minimum death benefit is known as a whole life insurance policy.

A whole life insurance policy is a permanent life insurance policy that offers lifelong protection to the insured and pays out a death benefit to the beneficiaries upon the death of the insured.

One of the key features of a whole life insurance policy is the guaranteed minimum death benefit, which means that the death benefit will never be less than a certain amount, regardless of how the policy performs. This provides a sense of security to the insured and their beneficiaries, knowing that there will always be a minimum amount of money that will be paid out.

In addition to the guaranteed minimum death benefit, whole life insurance policies also offer a cash value component. As premiums are paid, a portion of the premium is set aside in a cash value account that grows tax-deferred over time. This cash value can be accessed by the policyholder during their lifetime through policy loans or withdrawals.

Overall, a whole life insurance policy is a great option for those who are looking for lifelong protection and a guaranteed minimum death benefit. It offers peace of mind to the insured and their beneficiaries, knowing that there will always be a minimum amount of money paid out upon the death of the insured.

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Answer: variable life

Explanation: the variable nature a variable whole life insurance is its death benefit. however, if investment performance is poor, the death benefit will not go lower than the policy's guaranteed minimum.

Loan payments of $700 due three months ago and of $1000 due today are to be paid by a payment of $800 in two months and a final payment in five months. If 9% interest is allowed, and the focal date is five months from now, what is the amount of the final payment? The amount of each payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)​

Answers

Answer: $654.04

Explanation:

We are given loan payments of $700 due three months ago and $1000 due today and we are to find the amount of the final payment to be paid by the borrower. Let the amount of the final payment be x.

The borrower is supposed to make a payment of $800 in two months from now. We need to determine the value of the final payment x such that all payments are settled.

To solve this problem, we use the time value of money formula. The formula is:

PV = FV / (1 + r)t

Where PV is the present value, FV is the future value, r is the interest rate, and t is the period.

We can write down the following equations based on the information given:

700/(1+0.09)^8 + 1000/(1+0.09)^5 + 800/(1+0.09)^3 + x/(1+0.09)^0 = 0

Simplifying the above equation we get:

x = $654.04

Therefore, the amount of the final payment will be $654.04.

Use the diagram below to answer the following questions. Assume an initial market price of $4.

a. Identify the initial area of consumer surplus (CS1) when the market price is $4. Next, assume that supply decreases and the market price rises to $5. Draw the new supply curve and then identify the new area of consumer surplus (CS2).

Instructions: (1) Use the tool provided 'CS1' to identify the initial area of consumer surplus. This will drop a small triangle with three endpoints onto the graph. Drag the endpoints to the appropriate position to identify the initial area of consumer surplus. (2) Then use the tool provided 'S2' to draw the new supply curve. (3) Use the tool provided 'CS2' and follow the same process as before to identify the second area of consumer surplus. (graph that needs to be filled out is below)

b. Due to the increase in price, consumer surplus
rises by more than $50
falls by less than $50
rises by less than $50
falls by more than $50

Use the diagram below to answer the following questions. Assume an initial market price of $4. a. Identify

Answers

The above question is about Consumer Surplus. The supply curves have been indicated accordingly.

The Original Consumer Surplus (CS1) = $12.5The new consumer surplus (CS2) = $4.5Due to the increase in the prices, ΔCS falls by less than $50 (Option B)

What is Consumer Surplus?

The difference between what a consumer is prepared to pay and what they spent for a product is referred to as the consumer surplus. The difference between the market price and the lowest price a producer is prepared to take to create an item is the producer surplus.

The mathematical Expression for Consumer Surplus is given as follows:

CS = 1/2 (Equilibrium Q)(WTP price - Equilibrium price)

WTP  - Willingness to Pay ( or Effective Demand)

CS1 = 1/2(5) (9-4)

= 1/2 * 5 * 5

= 25/2

CS1 = $12.5

CS2 = 1/2(4)(9-5)

= 2 *4

CS2 = $8

To determine the extent by which Consumer Surplus is reduced, we say

CS1 - CS2

= 12.5 - 8

ΔCS = $4.5

Hence, because of the rise in prices, Consumer Surplus fell by less than  $50.

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Use the diagram below to answer the following questions. Assume an initial market price of $4. a. Identify
Use the diagram below to answer the following questions. Assume an initial market price of $4. a. Identify

the income statement is prepared first because the net income amount is a line item on the balance sheet.T/F

Answers

Because net income is a line item on the balance sheet, the income statement is created first. The assertion is accurate.

Is your salary based on net income?

Your total income before taxes and other deductions, or gross income, is what you see on your pay stub. Net income is your take-home pay, or the money that is still in your account after all withholdings and taxes have been paid. The net income deductions might include a variety of expenses, including as taxes, employee benefit premiums, and wage garnishments.

What distinctions are there between gross and net income?

The amount of an employee's income that remains after payroll deductions for expenses like taxes, benefits, and other charges is known as gross pay. After all estimated taxes have been taken out, what is left over is referred to as net pay or take-home pay..

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Your company, CSUS Inc., is considering a new project whose data are shown below. The required equipment has a 3-year tax life. Under the new law, the equipment used in the project is eligible for 100% bonus depreciation, so the equipment will be fully depreciated at t = 0. The equipment has no salvage value at the end of the project’s life, and the project does not require any additional operating working capital. Revenues and operating costs are expected to be constant over the project's 10-year expected operating life. What is the project's Year 4 cash flow?

Answers

The project's Year 4 cash flow, CF, is just the same as the Year 3 cash flow, CF.

What is the project's Year 4 cash flow?

The project's estimated working life is 10 years, during which time income and operating expenses are anticipated to remain stable. We are unable to compute the precise quantities of income and costs because we are not provided with this information. Instead, we'll presump that the project will produce a steady annual cash flow (CF) for the course of its ten-year lifespan. We do not need to account for any depreciation costs for the project because the equipment is depreciated at time zero. The yearly cash flow generated by the endeavor, which we'll assume is CF, will be equal to the cash intake in Year 4 of the project. All operating expenses related to the project in that year, in addition to any taxes that must be paid, will be included in the cash outflow in Year 4. We are unable to compute the particular operational costs or tax rates because we are not given this information. Instead, we'll assume that the project's constant yearly cash flow includes the operational expenses and taxes.

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You have a credit card bill from ABC Credit for a total of $3,754. Please group the transactions within the appropriate T-Accounts based on the chart of accounts in your resources section. Within that balance the following transactions are listed:
$420 Office Supplies
$334 Auto (company van payment)
$1500 123 Computers to Go
$250 Electric Company
$100 Water
$150 Good Steak House (company luncheon)
$250 ABC Office Supplies
$100 Fuel Stop
$650 Furniture

Answers

Credit card bill from ABC credit have listed a number of expenses made, these needs to be posted according to the relevant accounting heads.

What is Accounting?

Accounting is the calculation of cash, in other terms it is the study of debit and credit. The accounting teaches the treatment of different transactions, the transactions are divided in different heads, asset, expense, income, liability and capital.

T Accounts should be made as follows.

Assets

DR $1500 Computers

DR $650 Furniture

DR $334 Van Payment

Expenses

DR $420 Office Supplies

DR $250 Electric Company

DR $100 Water

DR $250 Office Supplies

Petty Expenses

DR $150 Steak House

DR $100 Fuel Stop

The expenses are distributed among the heads that they are relevant to, petty expenses only contains the payment for expenses that are immaterial in nature and amount, Asset account have the payments made for assets.

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What dose it mean to be fully human were interacting with others any virtual space like classroom why or why not

Answers

While interacting with others in a virtual space, to be fully human means for instance such as in a classroom, means having the qualities and characteristics inclusive to humanity, even though the medium of communication being virtual.

It involves identifying and embracing our shared humanity and engaging in meaningful connections with other people like friends family colleagues, even though miles apart and can only see by virtual screens.

Emotional connections, sharing knowledge, expression ,communication collaboration cooperation are the various forms. Therefore, virtual experiences though lack sensory and physical aspects of face-to-face interactions, they still provide a platform for human connection, learning, and growth.

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Q2. Describe three roles of the Government in a Planned or Command Econom
What are some of its function? ​

Answers

Answer:

Three roles of government in a planned economy:

*Planning economic activity: in a planned or command economy, the government actually plans the economy, in the sense that it determines the amount of goods and services to be produced an distributed over a period of time. In the Soviet Union for example, this period of time was of 5 years.

*Owning businesses: in planned or command economies, most or all firms are public, since private property usually does not exist in this type of economices. These firms tend to have a high degree of government control, where directly in the form of government ownership, or indirectly.

*Setting prices: a key characteristic of a planned economy is that prices are set beforehand. They are not left for the market to decide.

If you spent $500,000 purchasing a stock on the profit for that year was $100,000 what is the return on investment

Answers

Answer:

njhbgytfr

Explanation:

assume instead that masthead uses the indirect method to prepare its statement of cash flows. show how each item will be reflected as an adjustment to net income in the operating activities category of the statement of cash flows.

Answers

When using the indirect method to prepare the statement of cash flows, adjustments are made to the net income to arrive at the cash flows from operating activities. Here's how each item will be reflected




1. Add back non-cash expenses like depreciation and amortization to net income, as these expenses reduce net income but do not impact cash flows.
2. Deduct gains or add back losses on sales of assets, as these are investing activities, not operating activities.
3. Adjust for changes in working capital items, such as:
  a. Increase in accounts receivable: Deduct from net income, as more cash is tied up in receivables.
  b. Decrease in accounts receivable: Add to net income, as cash is freed up from receivables.
  c. Increase in inventory: Deduct from net income, as more cash is tied up in inventory.
  d. Decrease in inventory: Add to net income, as cash is freed up from inventory.
  e. Increase in accounts payable: Add to net income, as less cash is used to pay off payables.
  f. Decrease in accounts payable: Deduct from net income, as more cash is used to pay off payables.


Once these adjustments are made to net income, the result will be the cash flows from operating activities.Assuming that Masthead uses the indirect method to prepare its statement of cash flows, the following items will be reflected as adjustments to net income in the operating activities category of the statement of cash flows: Depreciation and amortization: This adjustment is added back to net income since depreciation and amortization is a non-cash expense. Changes in current assets and liabilities: An increase in current assets or a decrease in current liabilities will reduce operating cash flows, while a decrease in current assets or an increase in current liabilities will increase operating cash flows. Therefore, increases in accounts receivable, inventory, and prepaid expenses and decreases in accounts payable, accrued liabilities, and income taxes payable will reduce operating cash flows. Conversely, decreases in accounts receivable, inventory, and prepaid expenses and increases in accounts payable, accrued liabilities, and income taxes payable will increase operating cash flows. Gains and losses on the sale of assets: Gains on the sale of assets are deducted from net income, while losses on the sale of assets are added back to net income, as these transactions involve non-operating activities.

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Imagine you own a company that makes YOUR FAVORITE PRODUCT.

Answers

Answer:

I am not sure what you want me to answer but Ill give you my P.O.V

Explanation:

If I had my own company with my favorite product I would have created more of the things related to that product. And invest my money in other products I enjoy using. And improve on that product make it better.

I would probably use that product and make more products that people like

A database program would probably be used to

Answers

Answer:

The application scope of the database is very wide, such as the student information management system, course selection system, as well as the telecommunications department payment system, statistical system, and online game account management, etc., can be said that the current software, especially the network application software, is to use the database

Answer:

A database program would probably be used to track purchases on a commercial website.

Explanation:

A database is the heart of a business information system and provides file creation, data entry, query and reporting functions.

If a company has $10,000 in Cash, $2,000 in Accounts Receivable, $100,000 in Building and Land, $30,000 in Accounts Payable, and $20,000 in Notes Payable, how much is the business worth or what is its equity?

Answers

Answer:

the business is worth 162000

Explanation:

I added all of the stuff up to create a number have a nice day please

If a company has $10,000 in Cash, $2,000 in Accounts Receivable. The business worth and its equity is equal to $62,000.

What is the term Equity about?

Stockholders' equity, also referred to as shareholders' equity, it is the remaining amount of assets available to shareholders after all liabilities have been paid.

Given Information:

Cash=$10,000Accounts receivable=$2,000Building and land=$100,000Accounts payable=$30,000Notes payable=$20,000

Solution:

Equity=Total assets- Total liabilities

Equity=$10,000+$2,000+$100,000-$30,000-$20,000

Equity=$62,000

Hence, the equity of a company is equal to $62,000.

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Johnson Inc. is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 95,000 and estimated factory overhead is $617,500. The following information is for September of the current year. Job A was completed during September, and Job B was started but not finished.

Answers

September 1,2010, inventoriesMaterials inventory $ 7,500Work in process inventory(All job A) 31,200Finished goods inventory 67,000Material purchases 104,000Direct materials requisitionedjob A 65,000job B 33,500Direct labor-hoursjob A 4,200job B 3,500Labor costs incurredDirect labor($8.50/hour) 65,450Indirect labor 13,500Supervisory salaries 6,000Rental costsFactory 7,000Administrative offices 1,800Total equipment depreciation costsFactory 7,500Administrative offices 1,600Indirect materials used 12,000
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