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Question - Philip Caron is in his mid-fifties and he is married with two teenaged children. For over 15 years he has worked as an unincorporated welder. The business is currently netting approximately $250,000 per year. In recent years, Mr. Caron has been using about half of the business earnings for personal living expenses. In the last five years, he has been refining a fork lift that can be attached to half-ton trucks. He has a product that is selling well with few malfunctions, and he is in the process of patenting the design. As a result, his welding business is now predominantly manufacturing these fork lift units. Some of his welding equipment is old and he is faced with the need to replace it. Also, he needs to acquire larger welders and pipe benders to mass manufacture the fork lift. The business expansion will require substantial capital investment for which external financing will be required. Briefly discuss whether Mr. Caron should incorporate his business.
On October 31, 2021, Lisik Company had a cash balance per books of $8,946. Prepare bank reconciliation and related entries
it was recorded a gain on sale for %3450. What's the adjust journal entry? the fiscal year end December 31, 20X5
below are five audit procedures all of which are tests of transactions associated with the audit of the sales and
Discuss the interaction between planning, controlling and evaluating in effective management accounting environment. Describe the functions of and relationships
How are accounting numbers used to monitor this agency contract between owners and managers?
Given the following inventory data from Mason Corporation, what would be the inventory value charged to job one using FIFO, LIFO
The product life cycle explains the sales and profits of a product or service over its lifetime. In the New Shoes Simulation you have the option of keeping.
it costs lannon fields 14 of variable costs and 6 of allocated fixed costs to produce an industrial trash can that
Rachel Schillo earned gross pay of $2,100. She does not make any retirement plan contributions, Compute the Total Social Security tax
Question - Tony Madison needs $353,100 in 10 years. How much must he invest at the end of each year, at 9% interest, to meet his needs
In life, as well as business, people can experience two distinct types of problems; solvable problems and unsolvable problems. Solvable problems, also known as "either/or" problems, are those problems with one definite right answer.
How much of the proceeds would be allocated to the ordinary shares? 10,000 shares of its $5 par value ordinary shares having a fair value of $25 per share
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