Sheridan Company had the following bank reconciliation at March 31, 2020: Balance per bank statement, 3/31/20 $74400 Add: Deposit in transit 20400 94800 Less: Outstanding checks 25100 Balance per books, 3/31/20 $69700 Data per bank for the month of April 2020 follow: Deposits $87100 Disbursements 99300 All reconciling items at March 31, 2020 cleared the bank in April. Outstanding checks at April 30, 2020 totaled $12500. There were no deposits in transit at April 30, 2020. What is the cash balance per books at April 30, 2020?

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.

Match the different financial task to their corresponding financial life cycle phases

During a liquidation, a partner's capital account balance drops below zero. what should happen? select one: a. the deficit balance should be removed from the accounting records with only the remaining partners sharing in future gains and losses.b. the partner with a deficit should contribute enough assets to offset the deficit balance if he is solvent.c. the other partners should contribute enough assets to offset the amount of deficit if the partner with a deficit is insolvent.d. both b & c