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:
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If the tax system in the US is progressive, then those with lower income will pay proportionally less than those with higher income as the latter will have a higher tax rate but in fact the rich people usually have or find a lot of tax loopholes to reduce their taxes so may still not be paying a fair share of their taxes compared to the poor people who don't have these loopholes.
A local Chamber of Commerce plans a seminar on “the social responsibility of business in our community.” What does that term reference?
( The expectations that the community imposes on firms doing business inside its borders.) correct answer of your question ✅
The Acid-test ratio of Blushing Co,. is 1.25.
Acid-test ratio is also known as the quick ratio. It is the ratio of a firm's current assets to its current liabilities. It is a type of liquidity ratio. Liquidity ratio measures the ability of a firm to meet its short term obligation. The higher the acid-test ratio, the higher the liquidity of the firm.
Acid test ratio = (current asset - inventory) / current liabilities
- Current assets - inventory = $105,000 - $60,000 = $45,000
- Current liabilities = $60,000
- Acid-test ratio = $45,000 / $60,000 = 0.75
A similar question was answered here: brainly.com/question/13972407
Answer:
the firm pay 39 millions dividends to his shareholders during the year.
Explanation:
The retained earnings identity is as follow:
beginning RE + net income - dividends = ending RE
we plug our values into the formula:
970 + 30 - dividends = 961
we clear dividends:
970 + 30 - 961 = dividends
And solve:
dividends = 39
<u>Notes:</u>
For every account, we always have this similar identity:
a beginning balance
a type of transaction that increase their balance
another kind of transaction which decreased
and a final balance which is the net of the previous.
beginning + increase - decrease = ending
Always try to identify how each transaction impact the account and from there, setup the equation.
