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Question - Assume that you want to start a business; what would it be?
Describe the type of business you would like to start. Would it be classified as a service, a merchandiser, a manufacturer, or a hybrid (more than one) type of business? Conduct research as needed and explain your classification. What form of ownership would you prefer? Proprietorship, partnership, or corporation? If a corporation, what type of corporation? What factors would you consider in making your determination? Research the benefits and potential drawbacks of your chosen form of ownership beyond the information provided in the textbook.
Additionally, list at least three asset accounts and three liability accounts you would expect your new business to have. Explain the purpose of each account to your specific business.
Lastly, assume you were to invest $50,000 cash into your new business venture. Present the journal entry that would be created to record this transaction. Then, show how your ownership interest would be presented in the equity section of the business balance sheet.
The gain is included in the net income reported by the Subsidiary. Determine the equity holders of parent's net income
1.In 2013, the Marion Company purchased land containing a mineral mine for $1,600,000. Additional costs of $600,000 were incurred to develop the mine. Geologists estimated that 400,000 tons of ore would be extracted.
Variable shipping and other selling expenses would be $1 per unit for the special order. If the special order is accepted, MNK's operating profits will increase by:
If you had to choose a type of bond for your company to issue, which would you choose? How would you determine the sales price? Why
Is TC's planned purchase of the subcomponents, along with the subsequent payment, "probable" to occur under the ASC's hedge accounting guidance?
This account pays interest at the rate of 4%, compounded semiannually. How much will be in John's account on December 31, 2015, the end of 5 years
Ross Inc. reported net income of $5,000,000 for the current year. How much shall be recorded as investment income for the current year
The company decided to employ the dollar-value LIFO method for reporting its inventory. Determine the appropriate inventory valuation at 12/31/14
A start-up alternative fuel automobile company has a first year market forecast of 1000 units. Identify the forecasting model that is in use here.
Section 212 addresses expenses for the production or collection of income and tax return preparation fees. Which of the following is not a Section 212 deduction?
Calculate the number of units of each product that will need to be sold in order for Abilene to break even. What is their break-even point in sales dollars
What is the difference between a cost center and a profit center? complete an answer that demonstrates what critical element distinguishes the profit center
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