I. Cyber Edz Internet Café Profile A. History An Internet café serves up a bank of computers with high-speed Internet access for public consumption. The customer gets charged by the minute or the hour‚ or might purchase a monthly pass. The Internet café might also serve food and beverages‚ but this isn’t always the case. One breed of Internet café that persists to a lesser degree is geared towards multi-player gaming‚ but generally cafés were intended for surfing the Net. That could mean collecting
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LeBlanc‚ a student looking for summer employment‚ opened a bait shop in a small shed on a local fishing dock. For this case‚ I think the type of business here is Sole Proprietorship. Joseph LeBlanc a student looking for a summer employment and decides to open his own bait shop is a very big responsibility. If his business is Sole Proprietorship‚ it will benefit him in a lot of ways. He will be the boss of himself‚ which makes him getting all the profit and only very simple accounting will be needed in
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that Sonic would have grown as large as it did today if it had remained a sole proprietorship? No they wouldn’t have lasted if they stayed as a Sole Proprietorship why or why not? The way Sonic has expanded it would have too much for a single owner to open up 3000 sonic stores to date. What were the advantages and disadvantages to Sonic of each form of business ownership? The advantage of the owner of Sonic been a Sole Proprietor would have been‚ being your own boss‚ having the creativity freedom
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Outline KNOWLEDGE ON THE STEPS IN MAKING FINANCIAL STATEMENTS OF A SOLE PROPRIETORSHIP FORM OF BUSINESS: DOES IT MATTER? Thesis Statement: The knowledge on the steps in making financial statements greatly matters to the success of a sole proprietorship form of business. I. Introduction: Definition of sole proprietorship‚ forming a sole proprietorship‚ and thesis statement II. Financial statements of a sole proprietorship business A. Elements of financial statements 1. 4. Revenue
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Intro To Business Student: ___________________________________________________________________________ 1. Any activity which seeks to earn a profit by providing a good or service is known as a(n): A. industry B. corporation C. business D. service 2. __________ is the amount a business earns over and above what it spends for salaries and other expenses. A. Profit B. Revenue C. Interest D. Dividends 3. A business incurs a ___________ if its costs and expenses exceed its revenues
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incorporating a business is that the owners then become subject to liabilities in the event the firm goes bankrupt. | | | | Sole proprietorships are subject to more regulations than corporations. | | | | In any type of partnership‚ every partner has the same rights‚ privileges‚ and liability exposure as every other partner. | | | | Sole proprietorships and partnerships generally have a tax advantage over many corporations‚ especially large ones. | | | | Corporations of all
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ratios‚ the intentions of going public and a break even analysis. The sources of funding Portions Restaurant is operating as a sole proprietorship‚ as a sole proprietorship‚ the restaurant will have limited sources of funds. In a sole proprietorship the owner’s personal financial condition determines his or her credit standing. Additionally‚ sole proprietorships may have to pay higher interest rates on funds borrowed because they are considered large risks (Ferrell‚ 2010 p.147). Among the few
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to make any event‚ a truly memorable experience. Business Form: East Coast Catering is a LLC. The reason I selected this type of business is because most local catering businesses function as a Sole Proprietorship‚ because it is the easiest form of business to start and operate under. Sole Proprietorships leave the owner accountable to very high amounts of liability. LLC’s are easier to set up in comparison with a corporation and allows the business owner to experience fewer liabilities
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Sadie incorporates her sole proprietorship with assets having a fair market value of $80‚000 and an adjusted basis of $100‚000. Even though § 351 applies‚ Sadie may recognize her realized loss of $20‚000. F True False 2. For § 351 purposes‚ stock warrants are included in the definition of "stock." F True False 3. In order to retain the services of Paige‚ a key employee in Byron’s sole proprietorship‚ Byron contracts with
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Chapter 1 Case The McGee Cake Company Q1: What are the advantages and disadvantages of changing the company organization from a sole proprietorship to an LLC? Since the company’s inception‚ the McGee’s have operated The McGee Cake Company as a sole proprietorship which has provided them with several key advantages. The first among these advantages is the relative ease with which the McGee’s likely experienced in starting their business where essentially they were only required
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