Homework Answers
A proprietorship has more than one capital account, Shareholder's equity is also called proprietorship equity or retained earnings is the owner's investment in the corporation all are not correct.
But A partnership has a seprate owner's equity account for each partner is correct.
so answer is b) A partnership has a seprate owner's equity account for each partner
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Which of the following is a CORRECT statement? 0 A. A proprietorship has more than one...
The equity section of a corporation's balance sheet is more involved than that for a proprietorship...
The equity section of a corporation's balance sheet is more involved than that for a proprietorship or partnership because a corporation: a. by nature has many more assets that result in much greater equity. b. is a legal entity separate from its owners. c. is made up of numerous shareholders who collectively own the edity. d. is governed by a board of directors who are responsible for managing assets and building equity.
1)Which one of the following is a correct statement concerning a sole proprietorship? Select one: A....
1)Which one of the following is a correct statement concerning a sole proprietorship? Select one: A. It may be difficult to transfer the ownership of a sole proprietorship. B. A sole proprietorship is relatively difficult to form. C. The losses incurred by a sole proprietor are limited to the amount invested in the firm. D. The profits earned by a sole proprietorship are subject to double taxation. E. A sole proprietorship is more highly regulated than a corporation.
These are all multiple choice questions. I need your help, and I need them for tonight....
These are all multiple choice questions. I need your help, and
I need them for tonight. Please... Thank you ?
We were unable to transcribe this imageMultiple Choice Question 136 When admitting a new partner by investment, a bonus to old partners is sometimes justified because goodwill may exist and it is not reflected in the accounts. is usually unjustified because book values clearly reflect partnership net worth. results if the debit to cash is equal to the new partner's...
Which of the following statements is CORRECT? a. Relative to sole proprietorships, corporations generally face fewer...
Which of the following statements is CORRECT? a. Relative to sole proprietorships, corporations generally face fewer regulations, and they also find it easier to raise capital. Stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. There is no good reason to expect a firm's stockholders and bondholders to react differently to the types of assets in which it C. invests. Bondholders should...
to forms of business EL.3 (LO 2) C Listed below are several statements regarding different forms...
to forms of business EL.3 (LO 2) C Listed below are several statements regarding different forms of business organization. Instructions For each statement, indicate if that statement is true or false for each of the forms of business organization by placing a Tor an F in each column. Publicly Traded Corporation Proprietorship Partnership a. Owners have limited liability. b. Records of the business are combined with the personal records of the owner or owners. c. Required to follow IFRS. d....
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1)...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1) Which of the following statements is TRUE for a proprietorship? 1)_ A) The business records include the proprietor's personal finances. B) For accounting purposes, a proprietorship is separate from the proprietor C) Legally, a proprietorship is separate from the proprietor. D) All statements are correct. 2) Revenues are: A) increases in retained earnings resulting from delivering goods or services to customers B) decreases in...
Which of the following has AG°f= 0 at 25°C? There may be more than one correct...
Which of the following has AG°f= 0 at 25°C? There may be more than one correct answer so check each answer that is correct. H20(g) O3(g) Na(s) O(g) H2O(l)
James Company, a proprietorship, had the following selected business transactions during the year: (a) In each...
James Company, a proprietorship, had the following selected business transactions during the year: (a) In each situation, identify whether the accounting treatment is correct, incorrect or partially correct. 1. Land with a cost of $415,000 was recorded at its fair value of $465,000. Alease agreement to rent equipment from an equipment supplier starting next year was signed. The rent is $500 per month and the lease is for two years. Payments are due at the start of each month. Nothing...
MacBook Air 42 1-8. Identification of form of business. For each of the following, identify the...
MacBook Air 42 1-8. Identification of form of business. For each of the following, identify the related form of business. Use the letter A for proprietorship, B for partnership, or C for corporation. 1. Johnson, Capital 2. Common stock 3. Statement of capital containing two capital accounts 4. Par value 5. Stockholders' equity 6. Partners' capital, December 31 7. Statement of capital containing one capital account 8. Retained earnings 9. Jones, Drawings 10. Additional paid-in capital
QUESTION 23 Which of the following occurs if a withdrawing partner receives assets worth more than...
QUESTION 23 Which of the following occurs if a withdrawing partner receives assets worth more than the book value of his or her equity? o no change to the remaining partners' capital accounts an increase in the remaining partners' capital accounts a bonus to the withdrawing partner a premium to existing partners QUESTION 24 Which of the following is specified in the articles of partnership? procedures for distribution of dividends methods for valuation of the assets selection of an appropriate...
The equity section of a corporation's balance sheet is more involved than that for a proprietorship or partnership because a corporation: a. by nature has many more assets that result in much greater equity. b. is a legal entity separate from its owners. c. is made up of numerous shareholders who collectively own the edity. d. is governed by a board of directors who are responsible for managing assets and building equity.
These are all multiple choice questions. I need your help, and
I need them for tonight. Please... Thank you ?
We were unable to transcribe this imageMultiple Choice Question 136 When admitting a new partner by investment, a bonus to old partners is sometimes justified because goodwill may exist and it is not reflected in the accounts. is usually unjustified because book values clearly reflect partnership net worth. results if the debit to cash is equal to the new partner's...
Which of the following statements is CORRECT? a. Relative to sole proprietorships, corporations generally face fewer regulations, and they also find it easier to raise capital. Stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. There is no good reason to expect a firm's stockholders and bondholders to react differently to the types of assets in which it C. invests. Bondholders should...
to forms of business EL.3 (LO 2) C Listed below are several statements regarding different forms of business organization. Instructions For each statement, indicate if that statement is true or false for each of the forms of business organization by placing a Tor an F in each column. Publicly Traded Corporation Proprietorship Partnership a. Owners have limited liability. b. Records of the business are combined with the personal records of the owner or owners. c. Required to follow IFRS. d....
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1) Which of the following statements is TRUE for a proprietorship? 1)_ A) The business records include the proprietor's personal finances. B) For accounting purposes, a proprietorship is separate from the proprietor C) Legally, a proprietorship is separate from the proprietor. D) All statements are correct. 2) Revenues are: A) increases in retained earnings resulting from delivering goods or services to customers B) decreases in...
James Company, a proprietorship, had the following selected business transactions during the year: (a) In each situation, identify whether the accounting treatment is correct, incorrect or partially correct. 1. Land with a cost of $415,000 was recorded at its fair value of $465,000. Alease agreement to rent equipment from an equipment supplier starting next year was signed. The rent is $500 per month and the lease is for two years. Payments are due at the start of each month. Nothing...
MacBook Air 42 1-8. Identification of form of business. For each of the following, identify the related form of business. Use the letter A for proprietorship, B for partnership, or C for corporation. 1. Johnson, Capital 2. Common stock 3. Statement of capital containing two capital accounts 4. Par value 5. Stockholders' equity 6. Partners' capital, December 31 7. Statement of capital containing one capital account 8. Retained earnings 9. Jones, Drawings 10. Additional paid-in capital
QUESTION 23 Which of the following occurs if a withdrawing partner receives assets worth more than the book value of his or her equity? o no change to the remaining partners' capital accounts an increase in the remaining partners' capital accounts a bonus to the withdrawing partner a premium to existing partners QUESTION 24 Which of the following is specified in the articles of partnership? procedures for distribution of dividends methods for valuation of the assets selection of an appropriate...
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