Answer:
b $13,500
Explanation:
Assets are items that are used by a business organization for positive economic value .
Given that;
Accounts receivable = $800
Equipment = $10,000
Accounts payable = $4,200
Prepaid rent = $2,000
Supplies = $400
Bank loan = $1,600
Tools = $300
Total assets = Accounts receivable + Equipment + Prepaid rent + Supplies + Tools
Total assets = $800 + $10,000 + $2,000 + $400 + $300
Total assets = $13,500
Therefore, Bravo's total assets is $13,500.
True, replacement involving a life policy or annuity includes; lapsing a policy, converting to reduced paid-up insurance, and Reissuing a policy with a reduction in cash value.
An insurance policyholder and an insurer or assurer enter into a contract for life insurance under which the insurer agrees to pay a predetermined beneficiary a certain amount of money in the event that the policyholder dies. Other occurrences, like critical illness or terminal illness, may also result in payment, depending on the terms of the contract. Benefits from life insurance policies may be used to assist with final expenses after your death. Funeral or cremation expenses, uninsured medical expenses, estate settlement costs, and other unpaid debts may fall under this category. A life policy can be helpful, especially for parents of young children, people who support a spouse, and people who care for the disabled. Though, It is not necessary for life insurance to be a part of everyone's estate plan.
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Answer:
The insurance expense for year 1 is $2,200.
Explanation:
The insurance expense for the year 1 is $2,200, which is for 11 months in the first year. The balance of $2,600 will be carried forward to the next year as prepaid insurance. The first entry is a debit to the Prepaid Insurance account for the sum of $4,800 and a credit to the Cash account for the same amount, in order to record the cash payment. In year 1, Insurance Expense account will be debited with $2,200 while Prepaid Insurance will be credited with the same amount, in order to record the expense.
Answer:
A decrease in both the market equilibrium price and the market equilibrium quantity of autos sold.
Explanation:
A fall in the demand for automobiles would shift the demand curve to the left.
As a result of the leftward shift, both equilibrium price and quantity would fall.
I hope my answer helps you
Answer:
<em>Net operating income = $1,875</em>
Explanation:
<em>The operating leverage is the ratio of Contribution to Net Operating Income. It is used to analyse the cost structure of a business to determine how much of its total cost is fixed.</em>
It is computed as follows:
<em>Operating leverage = Contribution/Net operating income</em>
Contribution = Contribution margin × Sales revenue
= 15% × $150,000
= $22,500
Substitute this into the operating leverage equation
12 = 22,500/ y
y = 22,500/12
y = 1,875
<em>Net operating income = $1,875</em>
