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Problem 1: Which of these business organisation has a separate legal entity from its owners and the owners are NOT liable for the debts of the business?
a) Sole Proprietorshipb) Partnershipc) Private limited companyd) All of the above
Problem 2: Mariah has returned goods which she purchased on credit. What journal entry should Mariah make in her accounts?
a) Debit Trade Payable; Credit Purchase Returnb) Debit Purchase Return; Credit Trade Payablec) Debit Trade Payable; Credit Sales Returnd) Debit Purchase; Credit Trade Payable
Using the Salesforce, Inc. financial profile information (refer to question above), what is the Market Value Added (MVA) for Salesforce?
Pretax accounting income includes interest revenue from municipal bonds (not taxable). This interest revenue is $25,000 in 2010, $30,000 in 2011, and $32,000 in 2012. The enacted tax rate is 40%. Create the journal entry to record income taxes for ..
What is the average daily balance? Assume your credit card has a balance of $242.18 on the June 3d billing date and assume your next billing
During the current year, Central Auto Rentals purchased 60 new automobiles at a cost of $21,920 per car. The cars will be sold to a wholesaler at an estimated $4,000 each as soon as they have been driven 56,000 miles
Without actually buying the put option? How? Create a table to illustrate how the put and the portfolio both create the same payoff at the expiry date.
Cleary, Wasser, and Nolan formed a partnership on January 1, 2012, with investments of $100,000, $150,000, and $200,000, respectively. Net income was $150,000 in 2012 and $180,000 in 2013. Each partner withdrew $1,000 for personal use every month dur..
In addition what are the differences among a spot contract, a forward contract, and a futures contract? Why are they important? When are they initiated?
Hurricane begins the year with $850 in supplies. During the year, the company purchases $4,200 in supplies and debits that amount to Supplies. At year-end, supplies costing $2,200 remain on hand. Record the adjustment for supplies.
The need for adjusting entries is based on _______________. The ending balance in retained earnings is shown in the _______________. If $3,000 has been earned but not yet paid to a company's workers since the last payday within an accounting period, ..
During a recent accounting period, Marty's shipping department processed 26 orders. Each order typically takes four hours to complete. However, the average time increased to five hours because of various departmental inefficiencies. If shipping labor..
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 29,000 direct labor-hours would be required for the period’s estimated level of production.
Perform an Internet search using the term break-even analysis. Select and read a case study or article from the results of your search. (Make sure that you do not select an instructor's lecture notes or a class assignment from the results of your sea..
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