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I need to determine the best form of business entity for a business having the following characteristics and explain why choose that form of business:
1. Small business
2. Local in Nature
3. Three owners: two contributed a different amount and the third is contributing his or her services in lieu of capital, each of the owners has spouse and adult children.
Choose among: a general partnership, a limited partnership, a LLC, a type C Corporation.
State your assumptions and defend your choice.
The Cosmo Company was started by issuing 800 shares of $10 par value stock at an average market price of $20 per share. Prepare journal entries to record the treasury stock transactions. Prepare the equity section of the balance sheet for Cosmo Compa..
Compute pension expense and prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2010.
Bliny Corporation makes a product with the following standard costs for direct material and direct labor: Prepare material and labor journal entries
When one media company buys another, goodwill is often the most costly asset acquired. World media paid $700,000 to acquire-Journalize World Media's acquisition of The Dandy Dime.
On February 10, 2013, Rims Corporation purchased a parcel of land as a factory site for $250,000. An old building on the property was demolished, and construction began on a new building which was completed on September 30, 2013. Salvaged material..
The following information has been obtained for the Kerdyk Corporation. Compute taxable income and income tax payable for 2007.
Write an analysis about test of liquidity that compare Radio Shack and Conn's to Best buy.
High & Dry’s standard price for direct materials is $3.60 per unit-The actual purchase price per unit was
How much revenue will Drysdale recognize under the cash method and under the accrual basis? Describe how Drysdale should apply the matching principle to recognize expenses. Prepare an income statement according to the accrual method. Ignore income ta..
Please prepare solutions to the following questions concerning topics covered in the first half of the course
Post Inc, had a receivable from a foregn customer that is payable in customer's loca currency. On Dec 31, 2009, Post correctly included this receivable for 200,000 local currency units
Describe the principles on which the Big Mac Index is built and how it might help you as an international manager.
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