What are the advantages and disadvantages of a limited liability company?
What will be an ideal response?
Limited liability companies (LLCs) have limited liability and are not doubly taxed. Unfortunately, since the profits are reported on the investor's tax return, increased profits can raise personal taxes.
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Which of the following accounts probably would be greater in amount on an adjusted trial balance than on a trial balance?
A) Wages Payable B) Unearned Revenue C) Prepaid Advertising D) Painting Supplies
Manufacturing overhead includes:
A) advertising costs. B) indirect materials. C) sales commissions. D) shipping charges for finished goods.
Online business directories can help you find a range of information about U.S. companies but are of little value for research related to companies based in or operating in other countries
Indicate whether the statement is true or false
Downs Tax Planning Service bought communications equipment for $9,600 on January 1, 2017. It has an estimated useful life of five years and zero residual value. Downs uses the straight-line method to calculate depreciation and records depreciation expense in the books at the end of every month. As of June 30, 2017, the balance in the Accumulated Depreciation account for this equipment is ________.
A) $160 B) $1,920 C) $800 D) $960