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Arlecino [84]
2 years ago
5

The business earns $700 of consulting revenue. how would these earnings affect the total equity of a business?

Business
2 answers:
Anon25 [30]2 years ago
7 0

An increase in revenue will be an increase in equity.

Consulting Revenue is the total/gross revenue earned by a consulting company in a year. It should exclude the cost of material and sub-contracts.

Suppose we earned consulting revenue of $700. So it will increase the total revenue of the business.

Total equity is the gross /total of the investment in the company plus a subsequent profit of the company. Along with it, we will exclude all subsequent paid out.

The rise in revenue will uplift the net profit. An increase in revenue will increase equity.

To know more about consulting revenue, refer to this link:

brainly.com/question/14811584

#SPJ4

son4ous [18]2 years ago
6 0

Answer: An increase in revenue will be an increase in equity.

Explanation:

Consulting Revenue is the total/gross revenue earned by a consulting company in an year. It should exclude the cost of material and sub-contracts.

Suppose we earned consulting revenue of $700. So it will increase the total revenue of the business.

Total equity is gross /total of the investment in the company plus subsequent profit of the company. Along with it we will exclude all subsequent paid out.

Rise in revenue will uplift the net profit. Increase in revenue will result in increase in equity.

To know more about consulting revenue, refer to this link:

brainly.com/question/14811584

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3 years ago
A business issued a 120-day, 5% note for $84,000 to a creditor on account. Journalize the entries to record (a) the issuance of
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Answer:

a. Issuance of note:

Date             Account title                                         Debit                   Credit

XX-XX          Accounts Payable                            $84,000

                    Notes Payable                                                                $84,000

b. The payment of the note at maturity, including interest. Assume a 360-day year.

Interest payment = 84,000 * 5% * 120/360

= $1,400

Date             Account title                                         Debit                   Credit

XX-XX          Note Payable                                    $84,000

                     Interest payable                               $1,400

                     Cash                                                                              $85,400

3 0
3 years ago
Sam's (single taxpayer) year 2 taxable income was $175,000 with a corresponding tax liability of $30,000. For year 3, Sam expect
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Answer:

$33,000

To avoid penalties, if a taxpayer owes $1,000 or more in tax payments beyond withholdings, such taxpayer will need to have paid in for taxes the lesser of:  90% of the current year's tax ($50,000 x 90%) = $45,000, or  100% of the previous year's tax ($30,000 x 100%) = $30,000  

However, if the taxpayer had adjusted gross income in excess of $150,000 in the prior year, 110% of the prior year's tax liability is used to compute the safe harbor for estimated payments. (Previous year's tax $30,000 x 110% = $33,000).

Explanation:

4 0
3 years ago
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nata0808 [166]

Answer:

This statement is False

Explanation:

One of the characteristics of the modern day service industry is Division of Labor. Thus, Elise would not leave almost all aspects of human resources functions to specialists. This is the decision of a human resources manager and not Elise who is the finance manager. The jurisdiction of her duty and reporting line does not allow such to happen.

4 0
3 years ago
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abruzzese [7]

Answer:

Personal-use

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Explanation:

There are three types of properties which are shown below:

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2. Personal: These include those properties which are movable or transferable for one place to other like - machinery, furniture, other building,  etc as per the needs.

3. Real: These properties include properties that are non-movable i.e land, building, canals, etc. This is also known as immovable properties.

6 0
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