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Task Name: Phase 2 Discussion BoardDeliverable Length: 500 words, plus chart of accountsDetails: Primary Task Response: Within the Discussion Board area, write 400-600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
In this assignment you will do the following:•Choose the type of service business that you will use for the key assignment.•Discuss if you will want a sole proprietorship or a partnership.•Discuss your choice on the Discussion Board.•Develop a chart of accounts that is appropriate for your type of business.?The chart should contain a minimum of 5 assets and 2 liabilities.?Remember that this is a service business.?Revise your chart of accounts, if necessary, based on what your learn from the discussion.•Discuss the reasons for your choice of business type and your chart of accounts. Your discussion should include the pros and cons of both business types: sole proprietorship and partnerships
Very simple and high level, an S corp or an LLC
Mouns Company owns 30% interest in the stock of Darian Corporation. During the year, Darian pays $20,000 in dividends to Mouns, and reports $100,000 in net income. Mouns Company's investment in Darian will increase Mouns' net income by?
dsl company has two manufacturing departments - the machining department and the assembly department. each department
On this date, the company concludes that the equipment has a remaining useful life of only 5 years with the same salvage value. Compute the revised annual depreciation.
10000000 face value zero coupon bonds due in 20 years priced on the market to yield 8 compounded semiannually. round to
Give the entry for the issuance assuming the par value of the common was $5 and the market value $30, and the par value of the preferred was $40 and the market value $50.
clarkson inc. has 400000 of 12 bonds callable at 102 with a remaining 10 year term and interest payable semiannually.
What criteria must be met before revenues can be recognized on a modified accrual basis? For example, when are property taxes and sales taxes included in revenues? Please use an example of a government entity that you are familiar with in your respon..
Flint Co. records purchase discounts lost and uses perpetual inventories. Prepare journal entries in general journal form for the following: (a) Purchased merchandise costing $900 with terms 2/10, n/30. (b) Payment was made thirty days after the p..
On their joint tax return, their taxable income is $100,000. How much of a marriage penalty or benefit will Maria and Tony experience in 2010?
structuring the sell-or-process-further decision.jacks lumber yard receives 8000 large trees each period that it
bellue inc. manufactures a variety of products. variable costing net operating income was 96300 last year and ending
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