1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nikolay [14]
1 year ago
7

use the accounting equation to solve for the missing information. 2. did jacob's overhead doors report net income or net​ loss?

Business
1 answer:
vichka [17]1 year ago
7 0

Total assets 44900    

Less: Liablities 14,550

Total Owner's equity 30,350    

Less: Owner's capital 30,670

Add: Drawings 7,500    

Less: Revenues 8,850

Expense  1,670

Assets   =Liabilities +Owner's-Drawings+Revenues-Expense capital

               44,900 = 14,550 + 30,670- 7,500 + 8,850 - 1,670
2. Jacob states a profit of $7,180

Net Income = Revenues – Expenses
= 8850–1670 = 7180

  • Equipment, real estate, raw materials, and inventories are examples of tangible assets. Intangible assets include things like royalties, patents, and other intellectual property.
  • The amount earned by an individual or corporation after costs, allowances, and taxes is referred to as net income. Net income in company is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid.

To know more info about Assets visit:
https://brainly.in/question/18283902
#SPJ4

You might be interested in
What effect do you think seasonal demand might have on the price of goods? Explain<br> why.
RSB [31]
The four basic laws of supply and demand are: If demand increases and supply remains unchanged, then it leads to higher equilibrium price and higher quantity. If demand decreases and supply remains unchanged, then it leads to lower equilibrium price and lower quantity
6 0
4 years ago
At the end of 2017​, Apple had cash and​ short-term investments of $ 74.48 ​billion, accounts receivable of $ 17.58 ​billion, cu
yarga [219]

Answer:

a. Apple current ratio =  Current asset / Current liabilities

                                    =   $128.78billion/ $101.27billion

                                     = 1.27

b Apple Quick ratio    =  (Current asset - Inventory ) / Current liabilities

                                     = ( $74.48billion + $17.58billion)/ $101.27billion

                                     =  $92.06billion/$101.27billion

                                     =  0.91

c. Apple Cash ratio   = cash and short-term investment / current liabilities

                                   =  $74.48billion / $101.27billion

                                  =   0.77

d. By comparing the computed ratios of Apple and HPQ, it shows that Apple asset liquidity is better than that of HPQ.  The current ratio of Apple is 1.27 as against 0.96 for HPQ. also in term of Quick ratio, Apple has 0.91 while HPQ has 0.54.  The cash ratio of HPQ is 0.33 while Apple figure stood at 0.77

Explanation:

5 0
3 years ago
A broker operates an office in a town on the state line. A buyer from the adjoining state wants to see homes on both sides of th
evablogger [386]

Answer:

In this case, the broker:

b. may not show the buyer homes in the other state without a non-resident license.

Explanation:

A state line is a boundary that defines one state from another. States are defined by the state line that encloses them.All states in the United States have specific rules that govern their social, political and economic welfare. Conducting a business in a state requires that one has to firstly get information on the laws that regulate business activities in the area. The most common document that one needs to operate a business in any given state is a business license. The business license gives one the legal right to conduct his/her duties in the particular state.

Operating in a state has to be understood before determining whether or not one will need some kind of legal right to conduct his/her business. The requirements for one to qualify as operating in a state are;

1. When one owns property in that state.

2. Having facilities in that state where formal meetings regularly take place

3. Selling in the state using a party directly related to your business

4. When an individuals owns a bank account in that state

In our case, since the brokers action can be termed as business related and he/she is not a resident of any of the adjoining states, the broker has to have a non-resident license to show the buyer homes in those states.

3 0
3 years ago
Which payment method typically charges the highest interest rates?Which payment method typically charges the highest interest ra
kvasek [131]
I would say that using a credit card would charge a higher interest.

8 0
3 years ago
A 2013 court verdict then ordered DePuy to pay plaintiffs ____ in damages. Select one: a. Over $8 billion b. $8.3 million c. $3.
pishuonlain [190]

Answer:

b. $8.3 million

Explanation:

A 2013 court verdict then ordered DePuy to pay plaintiffs <u>$8.3 million</u> in damages.

A Los Angeles´s court have ordered Johnson & Johnson´s DePuy orthopedic department to pay more than $338000 for medical cost and $8 million for pain and suffering to plaintiff Loren Kransky.  As the company has recalled artificial metal hips which was found defective but DePuy did not took any action against fraud or malice. No punitive damage will be paid to the victim.

8 0
3 years ago
Other questions:
  • Deflorio Corporation’s inventory at the end of Year 2 was $167,000 and its inventory at the end of Year 1 was $152,000. The comp
    6·2 answers
  • In _____ decision making, title or position generally takes precedence over the individual holding the job.
    12·1 answer
  • The RedCap Corporation is committed to social responsibility. It is looking for a new shipping partner and has found LogiSpec, o
    13·1 answer
  • Commerce Insurance Services has five divisions. They are personal; core commercial; Main Street business; major commercial; and
    9·2 answers
  • If the price level rises above what was expected and nominal wages are fixed, then
    14·1 answer
  • A student who lives on the fifth floor of Bates Hall is assigned to a new room on the eighth floor during her junior year. She h
    14·1 answer
  • The closing stage in the selling process involves obtaining a purchase commitment from the prospect. This stage is the most impo
    10·1 answer
  • How involved the corporation is in the running of a franchise is determined by
    7·2 answers
  • Hoffman Corporation issued $60 million of 9%, 15-year bonds at 106. Each of the 60,000 bonds was convertible into one share of $
    15·1 answer
  • At the end of 2019, Wildhorse Co. has accounts receivable of $731,300 and an allowance for doubtful accounts of $65,400. On Janu
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!