Mary is a construction worker with a larger firm. She really enjoys the hands-on work and the good pay. However, her friends and family do not view her career favorably. This is likely because

What are the main advantages and disadvantages of organizing a firm as a c corporation? the advantages are: (select all the choices that apply.) a. there is no limit on the number of owners a c corporation may have, thus allowing the corporation to raise substantial amounts of capital. b. the life of the business can continue beyond the death of any of the owners. c. the corporation can use the assets of the owners to pay for corporate liabilities. this attracts smaller investors to the corporation. d. the liability of the owners is limited to the amount of their investment in the firm. the disadvantages are: (select all the choices that apply.) a. income to a c corporation is subject to double taxation, once at the corporate level and again when received by the owners in the form of a dividend. b. the life of the business usually ends with the death of any of the owners. c. the c corporation is more complicated and more expensive to set up than other business entities. d. corporate liabilities can be passed on to the share

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

The following transactions occurred during july: received $1,000 cash for services provided to a customer during july. received $4,000 cash investment from bob johnson, the owner of the business received $850 from a customer in partial payment of his account receivable which arose from sales in june. provided services to a customer on credit, $475. borrowed $7,000 from the bank by signing a promissory note. received $1,350 cash from a customer for services to be rendered next year. what was the amount of revenue for july?