Bessie started a smell busiess with her brother. After a year, they made a good profit. they than shared the profit equally as agreed. This type of business is known as what?

Fernandez Company had an accounts receivable balance of $150,000 on December 31, Year 2 and $175,000 on December 31, Year 3. The company wrote off $40,000 of accounts receivable during Year 3.

What does it mean to start a business out of necessity? Question 5 options: Someone is otherwise unemployed. Someone recognizes an unfulfilled need. Someone finds a way to improve an existing business Someone needs to find a business to invest in.

A car had been on end of year clearance at 30% off the original price. today, the dealer is having a special sale and you can take another 25% off the clearance price. how much total discount (off the original price) does one get on this car?

In the current year, Ellen sold investment stock that she had owned for five years. The sale generated a loss of $5,000. Assuming she had no other asset sales during the year, how should Ellen handle the loss for the current tax year purposes?

Cassie is preparing her federal income tax return. Which of the following items should be excluded from Cassie's gross income? Royalties received by Cassie for her best-selling novel. $100,000 in cash received by Cassie when her grandmother died.

What primary economic activities are associated with making jeans?

Bricker enterprises purchased a machine for $207,000 on october 1, 2018. the estimated service life is ten years with a $20,500 residual value. bricker records partial-year depreciation based on the number of months in service.

What are two specific steps Chuck and Wendy could take to increase their net worth in the next year?

Luthan Company uses a predetermined overhead rate of $23.40 per direct labor-hour. This predetermined rate was based on 11,000 estimated direct labor-hours and $257,400 of estimated total manufacturing overhead.

Melanie Summer spoke to an investor who is interested in her business idea. Melanie offered to send the investor a copy of her full business plan, but the investor asked for a short overview of the business plan instead.