Blossom Inc. Nash Inc. Smith Inc. Beginning inventory $400 $100 (g) $enter a dollar amount 5300 Purchases 1,600 1,080 43,000 Purchase returns and allowances 30 (d) $enter a dollar amount 80 (h) $enter a dollar amount 2000 Net purchases (a) $enter a dollar amount 1570 1,000 41,000 Freight-in 100 (e) $enter a dollar amount 200 2,700 Cost of goods purchased (b) $enter a dollar amount 1670 1,200 (i) $enter a dollar amount 43700 Cost of goods available for sale 2,070 1,300 49,000 Ending inventory 300 (f) $enter a dollar amount 200 6,000 Cost of goods sold (c) $enter a dollar amount 1770 1,100 43,000

In business,what would be the input, conversion and output of operating a summer band camp

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)