Umm what ;-; Imao I don’t get this
Answer: a. Liabilities increased by $1.0 million in 2018
Explanation:
In 2018, $9 million was used to settle the wage debt of 2017 and the remainder was used to settle the wages in 2018.
The money remaining in cash after the wage settlement was:
= 9,000,000 - 2,000,000 - 8,000,000
= -$1,000,000
This means that $1,000,000 of wages was not settled in 2018 which means that this would have to go to the Wages Payable account to signify that the company owes wages.
This account is a liability account so liabilities in 2018 would increase by $1,000,000.
Answer:
a. Total liabilities = $280,000
b. Total liabilities = $250,000
Total equity -= $250,000
Explanation:
As we know that
Total assets = Total liabilities + shareholder equity
So in the first case
The amount of the liabilities is
Total liabilities = Total assets - Total equity
= $700,000 - $420,000
= $280,000
And, in the second case, the total assets is $500,000
And, the liabilities and equity amounts are equal to each other
So in this case, the liabilities is $250,000 and the equity is $250,000
Answer:
There are four major OMEs manufacturer trucks for the North American market
