Question 13 of 40To incorporate, which of the following will the state want to know about yourcompany?A. board of director education levelOB. the purpose of your businessSUBMITC. the gross profit from the first quarterD. first year, gross profit goals

Explanation of Concept Incorporation is the process of creating a company which a separate legal…

Answered: To incorporate, which e company? OA.…

Business

Accounting

To incorporate, which e company? OA. board of dir OB. the purpose OC. the gross pr OD. first year, gr

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

I need prepare the income statement in accordance with genrally accepted accounting principles. Revenue: services provides to cotumers.......$17,000 investment by stockholders..............5,000 loan from bank.....................................15,000 total $37,000 expenses: Payments to long-term creditors...........................$11,700 expenses required to provide services to cutomers....................................................7,800 purchased of land......................................................16,000 total 35,500 net income $1,500
Use the accounts listed below to answer the questions about the profit of a business. Total Revenue ………………………………………………………………..$100,000 Hired Labor ……………………………………………………………………$25,000 Materials Purchased …………………………………………………………...$25,000 Interest that the owner could have earned on an alternative investment ……… $5,000 Income the owner could have earned by renting the firm’s building …………. $4,000 Utility Payments ………………………………………………………………..$5,000 Income the owner could have earned in an alternative business venture ……..$30,000 Cost of shipping the firm’s output to buyers ………………………………… $1,000 Identify the explicit costs incurred by this business. Why are they explicit costs? Identify the implicit costs incurred by the business. Why are they implicit costs? How much accounting profit does the firm make? Show your work. How much economic profit (loss) does this firm make? Show your work. If these financial results continue in the long run, will this firm stay in this business?
To have a times interest earned of 8. Determine whether A. FinancialB. Nonfinancial
16 What do the following accounting terms and principles mean: Please define and provide an example of how it would be applied. Matching Principle - Historical Cost – Monetary Unit – Accounting Period – Going Concern –