Answer: seed capital
Explanation: In simple words, seed capital refers to the funding under which a venture capitalist invests in a project that involves introducing a completely new product or service.
Usually the projects that involves funding of seed capital have no physical existence or assets. These projects are just in from of idea and the venture capitalist feels that it can be a success so he invest in it. Generally, under such projects venture capitalist takes majority of capital in his hold for fully enjoying the potential benefit.
Answer:
1. Going concern
2. Economic entity
3. Monetary unit
4. Periodicitys
Explanation:
1. Since Jumbo's Restaurant is planning to close, the assumption of continuity (going concern) is no more applicable. This should be disclosed. Instead asset was still recorded at historical price which is misleading.
2. Gorloks Tax Services is an economic entity, and the property and assets of owners are not considered to be for the business. In this case the boat Sam bought was wrongly reported as an asset of the company.
3. Claim Jumpers when reporting the 5 trucks purchased must include a monetary value for them. The assumption of monetary unit states that all items reported on the balance sheet must be expressed in monetary terms.
4. Cobbler's Etc violated the assumption of periodicity which states the financial position of the business must be declared in a particular accounting period. Accounting period can monthly, quarterly, biannually, and yearly. The business should choose and accounting period and ensure financial position is reported for each of them. In this case financial reporting is not consistent with reporting happening after 14 months and before that 18 months.
Answer:
$7,200
Explanation:
The calculation of income that should be presented in the income statement is shown below:-
Dividend Received = Given percentage × Paid dividend
= 12% × $60,000
= $7,200
Therefore for computing the income that should be presented in the income statement we simply applied the above formula.
Therefore the above is the answer
Answer:
increase their savings
Explanation:
Saving is the action of putting aside a portion of income in a safe place instead of spending. It is a technique that firms and individuals use to achieve their financial objectives. Consistent saving for a duration of time helps accumulates a substantial amount of money that can be used to actualize financial objectives.
While savings is not the financial objective, it is a means to achieve the actual goal. For Example, if one goal is to own a home or a car, they start saving for the down-payment. Saving helps achieve their long term goals.
