The owner of a sole proprietorship declares any profits earned by the company on his personal income tax at the end of the year. true of false?

Accounting Equation Jan Petri is the stockholder and operator of Way to Go LLC, a motivational consulting business. At the end of its accounting period, December 31, 20Y2, Way to Go has assets of $798,000 and liabilities of $192,000.

Professional who specializes in analyzing and designing business systems is

a company issues a 10000 8 percent 10 year bond on jan 1 year 1 for 10420. Interest is paid annually on jan 1.

Sasha has decided to start a consulting business. She will need space for large meetings and a receptionist.

The term "spontaneously generated funds" generally refers to increases in the cash account that result from growth in sales, assuming the firm is operating with a positive profit margin. a. True b. False

Brian brewster sold property to a buyer who paid him $400,000 cash and assumed an existing mortgage of $150,000

The following inventory information was taken from the records of Kleinfeld Inc.: Historical cost $12,000 Replacement cost $7,000 Expected selling Price $9,000 Expected selling cost $500 Normal profit margin 50% of price Assume that subsequent to

Eliza has a policy that allows her to deduct the premiums she pays that exceed 10% of her adjusted gross income. Once she turns 65, she can deduct the premiums that exceed 7.5% of her adjusted gross income. Which type of policy does Eliza have?

A key consideration related to business intelligence is that it focuses on data to aid in

For franklin, inc., sales is $1,500,000, fixed expenses are $450,000, and the contribution margin ratio is 36%. what are the total variable expenses?