Answer:
Financial statements are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand.
Explanation:
Hope this helps
Answer: Sheldon focuses or specialize on running errands and Leonard in washing dishes;
they trade at 1 errand run per 20 dishes washed
Explanation:
Sheldon focuses or specialize on running errands and Leonard in washing dishes; thus this the individual specialization
they trade at 1 errand run per 20 dishes washed this is the terms of trade they both can agree on.
Answer:
Equity of the business= $17,076.
Explanation:
Equity as used in business is used to refer to the difference between the worth of a business (its assets) and what the business owes (debts and liabilities).
In other words, total equity refers to the value which is left in the company after the total liabilities must have been subtracted from the total assets.
The formula to calculate total equity is given below:
Equity = Assets - Liabilities
Therefore to calculate the equity above, we have:
Equity = $64,342 - $47,266
Equity = $17,076.
Answer:
d. Transportation cost on goods delivered to customers.
Explanation:
Product cost is defined as the cost a business bears as a result of producing a product. This includes labor, cost of supplies, factory overhead costs, and cost of transporting supplies.
The cost of transporting product to the consumer is logistics cost.
