Business, 28.04.2021 09:10 letsgetcookingblog
Charlie and Mia have started selling T-shirts with iron-on decals and lettering. They have no formal written agreement and simply decided to split all profits equally. Each has contributed $1,000 to the enterprise, and since Mia will be doing all of the work, Charlie agrees that he will be responsible for 75 percent of any losses. Charlie does call in to make day-to-day decisions, but Mia purchases the shirts, decals, and lettering, operates the press, and runs the store. Charlie stays home and smokes cigars and drinks scotch. Ava purchases one of their shirts and, after wearing it all day, discovers that the dye has run and her upper body is now blue. After bathing numerous times, she finds that the blue dye will not wash off. Ava sues and is awarded $100,000 in damages. Charlie claims that there was no real business entity formed and that he should not be liable. How will the court decide?
Answers: 3
Business, 22.06.2019 00:00, koolja3
Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)
Answers: 2
Business, 22.06.2019 20:20, martinezarielys17
As you have noticed, the demand for flip phones has drastically reduced, and there are only a few consumer electronics companies selling them at extremely low prices. also, the current buyers of flip phones are mainly categorized under laggards. which of the following stages of the industry life cycle is the flip phone industry in currently? a. growth stage b. maturity stage c. decline stage d. commercialization stage
Answers: 2
Business, 22.06.2019 22:30, jasjas3722
Which of the following describes one of the ways that the demographics of an area affect the price of housing in that area? a. when more people have children, their incomes tend to be higher and the housing prices are also higher. b. older people are more likely to stay in their houses, creating a seller's market that keeps prices low. c. an area with a lower population density won't have enough construction workers to build new houses quickly. d. an area with younger people will have a higher demand for rentals and a lower demand for buying.
Answers: 1
Business, 23.06.2019 01:40, Karinaccccc
The petty cash fund has a current balance of $ 350, which is the established fund balance. based on activity in the fund, it is determined that the balance needs to be changed to $ 450. which journal entry is needed to make this change?
Answers: 3
Charlie and Mia have started selling T-shirts with iron-on decals and lettering. They have no formal...
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