General

Debit Credit Cash 1,500 Accounts Receivable 2,000 Interest Receivable 100 Prepaid Insurance 1,600 Notes Receivable (long-term) 2,800 Equipment 15,000 Accumulated Depreciation 3,000 Accounts Payable 2,400 Accrued Expenses Payable 3,920 Income Taxes Payable 2,700 Unearned Rent fees 500 Common Stock 500 Retained Earnings 2,700 Dividends 2,000 Rent Fees Earned 37,000 Furniture Rental Revenue 1,200 Interest Revenue … Read more

Life Force Fitness, Inc., assembles and sells treadmills. Activity-based product information for each treadmill is as follows: Activity-Base Usage (hrs. per unit) X Activity Rate per Hour = Activity Cost Motor assembly 1.50 x $20 = $30.00 Final assembly 1.00 x 18 = 18.00 Testing 0.25 x 22 = 5.50 Rework 0.40 x 22 = … Read more

Are you stuck on this EverFi answer? Let’s break this down for you to give you the correct answer AND show you how to work it out: For the month of January we can see that Mia has Revenue, Fixed, Expenses and Variable Expenses like so: Okay, so the question here is asking us to … Read more

Are you stuck on this EverFi answer? Let’s break this down for you to give you the correct answer AND show you how to work it out: For the month of May we can see that Mia has Revenue, Fixed, Expenses and Variable Expenses like so: Okay, so the question here is asking us to … Read more

If you run an LLC business and are a non-resident alien, what are your tax responsibilities? The short answer is: this is a very tricky and complex matter but if you are not based in the US, you MAY NOT have to pay US taxes. This is just a really round about way of saying … Read more

There might come a time when you need to find out exactly who owns an LLC corporation. Is it possible? Can you search and find out who is the owner of an LLC? The general answer seems to be that yes, you can search the Secretary of State business records for each of the 50 … Read more

Okay, so if you have a non-profit corporation, can you form an LLC as a subsidiary of that non-profit business? The general consensus is that yes, a non-profit can buy and sell things, including corporations (LLC, C or S corp) and they can start them as well. To give you some idea of the use … Read more

If you’re looking at forming either an LLC or C Corp and plan to raise funding from angel or VC investors, you need to know which is the best option for you. We posed this question to the Start a Business Hub community of experts to help you figure out the answer. The general rule … Read more

If you’re looking to decide between forming an LLC in Wyoming and New Mexico. Here is what the Start a Business Hub expert community think. Top answer provided by a business lawyer I would typically say the “better” state to form a limited liability company (LLC) in would be the state you’re conducting business in. … Read more

Top answer verified by a business lawyer You do not necessarily need to form a Limited Liability Company (LLC) to start selling stuff on Amazon. However, forming an LLC for your Amazon business does have some certain important advantages that should be addressed. First, we’ll talk about your first option which is to continue to work … Read more