Answer:
gain of $5,000
Explanation:
Wolf's gain = fair market value - book value = $45,000 - $40,000 = $5,000
a company must determine the gain or loss of an exchange transaction using the asset's book value and comparing it against its fair market value. If the FMV is higher than the book value, the company will recognize a gain. If the FMV is lower than the book value, then the company will recognize a loss.
Answer:
Total owner’s equity = $23,000
Total liabilities =$50,000
Investment by owner = $20,000
Explanation:
We use the accounting equation which is presented below:
Total assets = Total liabilities + owners equity
At the beginning of the year
The owner equity would be
= Total assets - total liabilities
= $85,000 - $62,000
= $23,000
At the end of the year
The total liabilities would be
= Total assets - total owners equity
= $110,000 - $60,000
= $50,000
The investment by owner would be
= Ending balance of owners equity + drawing - opening balance of owners equity + total expenses - total revenues
= $60,000 + $18,000 - $23,000 + $140,000 - $175,000
= $20,000
Answer:
Tyrone will need $4578.4 to meet his $15,000 goal
Explanation:
Tyrone wants to spend amount on a new car three years from now=$15,000
Formula : 
Where A=future value
P=present value
r=rate of interest
n=time period.
Future value of deposits=
Future value of deposits=
10421.60
So, additional money needed=15000-10421.60=4578.4
Hence Tyrone will need $4578.4 to meet his $15,000 goal
Answer:
<em>Organizing Management Function</em>
Explanation:
Organizing is <em>the management function which includes the creation of an organizational structure as well as the allocation of human resources to ensure that the objectives are achieved.</em>
Gilmore managers are re-allocating the companies resources.
Organization structure is the framework through which activities are organized.
Answer:
C: Prices and output would rise, and the equilibrium will change
Explanation:
