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Q. Illustrate about corporation?
A corporation is an incorporated business under the laws of a state and owned by a few stockholders or thousands of stockholders. Approximately all large businesses and many small businesses are incorporated. The corporation is exclusive in that it is a separate legal business entity. The owners of the corporation are shareholders or stockholders. They purchase shares of stock which are units of ownership in the corporation. Must the corporation fail the owners would only lose the amount they paid for their stock. The corporate type of business protects the personal belongings of the owners from the creditors of the corporation. Stockholders don't directly manage the corporation. They select a board of directors to represent their interests. The board of directors choose the officers of the corporation such like the president and vice presidents who manage the corporation for the stockholders.
Q. What is journal? In explaining the rules of credit and debit we recorded transactions directly in the accounts. Every ledger (general ledger) account shows only the increase
On 11/1/05 the Scranton Electric Company issued a check in the amount of $36,000 to the Fly By Night Insurance Company. The amount represented the total premiums on a liability ins
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la
How can price inflation effect a university negatively in the future? Like, what are a few things in the university that will be impacted?
Q. Describe about Fixed Assets? Fixed Assets can't be quickly turned into cash without interfering with business operations.Fixed assets comprise buildings, land, machinery, fu
Q. Traditional body of accounting theory? Presenting the traditional body of theory first as well as the conceptual framework second gives you a sense of the historical develop
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $673,400, and Allowance for Doubtful Accounts has a balance of $11,90
Desrocher Ltd. issued an instalment note on January 1, 2014 (with a required yield of 9%), in exchange for land that it purchased from Safayeni Ltd. Safayeni's real estate agent
Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat
Fixed asset are assets which provides the business future benefit Fixed assets are those which are tangible in nature and is not meant for sale in the near future and from whi
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