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Alekssandra [29.7K]
3 years ago
15

Lucky Louie just inherited $50,000 from his great aunt, has $1,500 in his checking account, owns a car with a value of $8,000, a

nd has $20,000 in his 401(k) at work. Louie owes $6,000 on his car, $12,000 on school loans and $3,000 on his credit card. What is Louie's net worth?
Business
1 answer:
kodGreya [7K]3 years ago
8 0

Answer:

$58,500

Explanation:

Net worth is the difference between total assets and total liabilities.

I.e network = Asset - Liabilities

For Louie: Assets

Inheritance            $  50,000.00

Checking account  $    1 ,500.00

Car                          $    8,000.00

403 (k)                    <u>  $  20,000.00</u>

Total                          $ 79,500.00

Liabilities            

Car loan                       $ 6,000.00

School fee loan           $ 12,000.00

credit card                  <u>  $ 3, 0000.00</u>

Total                              $21, 000.00

Net worth = $ 79,500- $21,000

                 =$58,500

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The incremental income to process further for Maxim company equals to $30,000.

<h3>What is an Incremental income?</h3>

This means the profit that a business gains from an increase in sales.

It is gotten when there is an additional revenue generated by a certain product.

The Net income to be generated from Green health equals:

= Revenue - Cost

= $90,000 - $28,000

= $62,000

The Net income to be generated from Premium Green equals:

= Revenue - Extra cost

= $98,000 - $6,000

=$92,000

<h3>What is Incremental income to Process further?</h3>

= $92,000 - $62,000

= $30,000

Read more about Incremental income

<em>brainly.com/question/1446002</em>

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8 0
1 year ago
Joe Hall owns a limousine for use in his personal service business of transporting passengers to airports. The limousine’s adjus
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Answer:

B. $280,000

Explanation:

The capital assets are those assets which are used for the personal purpose, not for the business purpose. The examples of capital assets include personal property, stocks, bonds, clothing, dwelling, etc.

It excludes that property which is used for trade or business purpose like - limousine.

In the given situation, the capital asset would be $280,000 as it owns for personal residence and furnishings.

6 0
3 years ago
What are the three riches nations in the world​
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Answer:

1. Qatar

2. Macao SAR

3. Luxembourg

Explanation:

The 3 wealthiest countries in the world according to GDP (PPP) is Qatar - $134,623, Macao SAR - $122,201 and  Luxembourg - $108,813

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Answer:

A. It may cause people to lose trust in you.

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Unethical behavior is one where an individual behaves in such a way that it is bad for others or an action that may be morally wrong. It is an action that renders the wrong perception of others.

One thing true about unethical behavior is that it can cause people to lose trust in the person. It makes the person look bad and thus add to the dishonesty, the feeling of untrustworthiness in that person.

Thus, the correct answer is option A.  

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