For the answer to the question above,
Revenue . . . . . . . . . . . . . . . . . . . .4,500
less: Expenses
Rent . . . . . . . .750
utilities . . . . . . 150
Salaries . . . . . .2400
Insurance . . . . .225
(Since you are just in highschool I would assume insurance is expense, because there are insurance that are Payables and not expense)
Total . . . . . . . . . . . . . . . . . . . . . . 3525
Net income . . . . . . . . . . . . . . 975
I hope my answer helped you. feel free to ask more questions. have a nice day!
Answer:
Any subscription level, including QuickBooks Self-Employed
Explanation:
The question is incomplete, and it also has the answer itself
Refer the complete question below:
You have a client who needs a QuickBooks Online solution that includes tracking for sales and sales tax. Which subscription level in QuickBooks Online would you recommend?
Answer:
Answer for task 1: Increase
Answer for task 2: debt
Answer for task 3: -13.33
Answer for task 4: -14.00
Answer for task 5: reserve requirement
Explanation:
<u>Task 1:</u>
In the given question, the owner has borrowed $100 supplement to their existing reserves. Since the owner has borrowed, the value of debt would <u>increase</u>.
<u>Task 2:</u>
<u>Leverage ratio before borrowing:</u>
Leverage ratio = 
Leverage ratio = 
Leverage ratio = -13.33
The leverage ratio before borrowing is - 13.33
<u>Task 3:</u>
<u>Leverage ratio after borrowing:</u>
Leverage ratio =
Leverage ratio = 
Leverage ratio = -14.00
The leverage ratio after borrowing is - 14.00
<u>Task 4:</u>
This would also bring the leverage ratio from its initial value of -13.33 to a new value of -14.00.
<u>Task 5:</u>
<u>Which of the following do bankers take into account when determining how to allocate their assets? Check all that apply.</u>
The option is<u> "b"</u>
When determining how to allocate their assets bankers take into account the reserve requirement.
I forgot abt this but lemme try..i think the answer is A. An economic recession
Answer: True
Explanation:
As a result of the Accrual principle in accounting, transactions need to be recorded in the period that they occur in and not in the period they are paid for in.
The interest in Year 1 was incurred in year 1 and so will need to be recorded in year 1 for the period from issuance of the note to the last day of the accounting period.
This means that if the last day of the accounting period is December 31st, the interest for year 1 would have to be accrued from September to December of year 1 and recorded as year 1 interest.
