Can you answer that for me and explain why?
Homework Answers
Correct answer-------------None of the choices are correct.
.
A corporate form of business is the kind of business where the owner's liabilities are limited. The resources are unlimited because whenever the business needs money new shares can be issued to public since there is no cealing in number of members.
The ownership is easily transferable. The shareholders only need to sell there shares held in the company.
This is not necessary that corporate business pay higher tax.
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Can you answer that for me and explain why?
21 Which of the following is an...
can you give me the answer and explain why?also can you explain why B is incorrect....
can you give me the answer and explain why?also can you explain
why B is incorrect. thx
21. Which of the following is an attribute of the corporate form of business ownership? Unlimited liability. Higher tax rates. Limited resources. Difficulty in transferring ownership. None of the choices are correct.
can you give me the answer and explain why? 20. Which of the following questions is...
can you give me the answer and explain why?
20. Which of the following questions is most likely to be asked by an investor? What are the company's terms of credit with its suppliers? What is the amount of taxes owed to the government? Will the company be able to repay its debt when it is due? Will the company's stock increase in value? None of the choices are correct.
Which of the following statements is CORRECT? a. Due to limited liability, unlimited lives, and ease...
Which of the following statements is CORRECT? a. Due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of U.S. businesses (in terms of number of businesses) are organized as corporations. b. Large corporations are taxed more favorably than proprietorships. c. Corporate stockholders are exposed to unlimited liability. d. Most businesses (by number and total dollar sales) are organized as proprietorships or partnerships because it is easier to set up and operate one of these forms...
Identify which of the following statements are true for the corporate form of organization. Choose all...
Identify which of the following statements are true for the corporate form of organization. Choose all that apply. (A) Owners have limited liability for corporate debts.checked (B) It has an unlimited life.unchecked (C) Directors oversee its business affairs.checked (D) Ownership is usually transferred readily.unchecked (E) Generally there is no double taxation on corporate income that is distributed to owners.unchecked (F) It is not a separate legal entity from its owners.checked (G) Owners are agents of the corporation. This one has...
can you give me the answer and explain why? 18. Which of the following best explains...
can you give me the answer and explain why?
18. Which of the following best explains the meaning of total stockholders' equity? The amount of common stock less dividends over the life of the company. The total of the net revenues, expenses, and dividends over the life of the company. The difference between total revenues and total expenses, less dividends for the year. The owners' residual claim of a company's assets after its liabilities have been paid. | None of...
can you give me the answer and explain why?also can you explain why A is incorrect....
can you give me the answer and explain why?also can you explain
why A is incorrect. thx
24. A Company recorded the following cash transactions for the year: Paid $90,000 for salaries. Paid $40,000 to purchase office equipment. Paid $10,000 for utilities. Paid $4,000 in dividends. Collected $140,000 from customers. Recorded $3,000 in depreciation expense. What was the net cash provided by operating activities? $37,000. $0. ($3,000). $50,000. None of the choices are correct.
Can you answer that for me and explain why? 17. A. The principal of revenue recognition...
Can you answer that for me and explain why?
17. A. The principal of revenue recognition in accounting refers to: Revenue should be recognized in the period payments are received. The cash basis of accounting. | Revenue is recorded when the company is assured that payment will be received in the future for services rendered. | Revenue is recognized in the period services have been performed. None of the choices are correct. E.
can you give me the answer and explain why?also can you explain why C is incorrect....
can you give me the answer and explain why?also can you explain
why C is incorrect. thx
26. | A corporation purchases land for $200,000 by paying a down payment of $20,000 and by signing a note payable for the remainder of the purchase price. Which of the following statements correctly shows the effect of this transaction on the accounting equation? Assets will increase by $200,000; liabilities will increase by $180,000 and stockholders' equity will increase by $20,000. Assets will...
Can you answer that for me and explain why? 12. A company earns $40,000 by providing...
Can you answer that for me and explain why?
12. A company earns $40,000 by providing services in the current period for cash that was received in a prior period. In posting this transaction to the T-accounts, which of the following will be required? | Post $40,000 on the left side of the Cash T-account. Post $40,000 on the left side of the Deferred Revenue T-account. Post $40,000 on the right side of the Deferred Revenue T-account. Post $40,000 on...
Can you answer that for me and explain why? A corporation received a $5,000 cash dividend...
Can you answer that for me and explain why?
A corporation received a $5,000 cash dividend from stock held in an unrelated company. How would this transaction be recorded and what type of business activity would this be classified under? Debit dividend receivable $5,000, credit Dividend Revenue $5,000; Financing. Debit Cash $5,000, credit Dividend Revenue $5,000; Financing. Debit Cash $5,000, credit Dividend Revenue $5,000; Investing. Debit Cash $5,000, credit Dividend Revenue $5,000; Operating. None of the choices are correct.
can you give me the answer and explain why?also can you explain
why B is incorrect. thx
21. Which of the following is an attribute of the corporate form of business ownership? Unlimited liability. Higher tax rates. Limited resources. Difficulty in transferring ownership. None of the choices are correct.
can you give me the answer and explain why?
20. Which of the following questions is most likely to be asked by an investor? What are the company's terms of credit with its suppliers? What is the amount of taxes owed to the government? Will the company be able to repay its debt when it is due? Will the company's stock increase in value? None of the choices are correct.
can you give me the answer and explain why?
18. Which of the following best explains the meaning of total stockholders' equity? The amount of common stock less dividends over the life of the company. The total of the net revenues, expenses, and dividends over the life of the company. The difference between total revenues and total expenses, less dividends for the year. The owners' residual claim of a company's assets after its liabilities have been paid. | None of...
can you give me the answer and explain why?also can you explain
why A is incorrect. thx
24. A Company recorded the following cash transactions for the year: Paid $90,000 for salaries. Paid $40,000 to purchase office equipment. Paid $10,000 for utilities. Paid $4,000 in dividends. Collected $140,000 from customers. Recorded $3,000 in depreciation expense. What was the net cash provided by operating activities? $37,000. $0. ($3,000). $50,000. None of the choices are correct.
Can you answer that for me and explain why?
17. A. The principal of revenue recognition in accounting refers to: Revenue should be recognized in the period payments are received. The cash basis of accounting. | Revenue is recorded when the company is assured that payment will be received in the future for services rendered. | Revenue is recognized in the period services have been performed. None of the choices are correct. E.
can you give me the answer and explain why?also can you explain
why C is incorrect. thx
26. | A corporation purchases land for $200,000 by paying a down payment of $20,000 and by signing a note payable for the remainder of the purchase price. Which of the following statements correctly shows the effect of this transaction on the accounting equation? Assets will increase by $200,000; liabilities will increase by $180,000 and stockholders' equity will increase by $20,000. Assets will...
Can you answer that for me and explain why?
12. A company earns $40,000 by providing services in the current period for cash that was received in a prior period. In posting this transaction to the T-accounts, which of the following will be required? | Post $40,000 on the left side of the Cash T-account. Post $40,000 on the left side of the Deferred Revenue T-account. Post $40,000 on the right side of the Deferred Revenue T-account. Post $40,000 on...
Can you answer that for me and explain why?
A corporation received a $5,000 cash dividend from stock held in an unrelated company. How would this transaction be recorded and what type of business activity would this be classified under? Debit dividend receivable $5,000, credit Dividend Revenue $5,000; Financing. Debit Cash $5,000, credit Dividend Revenue $5,000; Financing. Debit Cash $5,000, credit Dividend Revenue $5,000; Investing. Debit Cash $5,000, credit Dividend Revenue $5,000; Operating. None of the choices are correct.
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