The ending balance is $500.
Starting balance of accounts payable is $750 which means a credit balance of $750. There had been debit postings of $600 and credit postings of $350. Consequently the ending balance will be $500 credit ($750 credit - $600 debit + $350 credit).
Accounts payable (AP) are amounts due to carriers or suppliers for items or offerings obtained that have not yet been paid for. The sum of all outstanding quantities owed to companies is shown because of the debt payable stability on the organization's balance sheet.
The ending balance is the net residual balance in an account. It is usually measured at the end of a reporting length, as part of the closing system. Finishing stability is derived by including up the transaction totals in an account and then adding this total to the start balance.
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Answer: The creditor will be able to recover $1,350
Explanation:
The amount that the creditor will be able to recover will be the contract price less the damages for the minor breach by the company.
In this case, the company finished all of the tasks except for the cleaning of the oven. Since this is minor with regards to the contract, the company will be seen to have performed its contract.
Since we are told the cost of finishing the job was 10% of the contract cost, this will be regarded as a minor breach, therefore, the owner of the condominium cannot avoid the payment of the price of the contract price. In this case, the creditor will be able to recover ($1500 - $150) = $1,350.
Answer:
e. One advantage of forming a corporation is that equity investors are usually exposed to less liability than they would be in a partnership.
Explanation:
The investor of a corporation have limited liability. This measn their responsability is capped at their contribution. On parthership, this does not ocurs.
(c)(d) Corporation face more regulation and are harder to create than a parthership.
(b) parthenrship has unlimited liability.
<span>
<span>True.
Risk in investment can be defined as the possibility that the investor may
lose a big portion or all of the initial investment or make very high returns
in a short period. Risk which is often likened to volatility dictates that
the higher the volatility the higher the chances of returns. Speculative
investments such as leveraged ETFs(commodities such as gold, oil, silver),
options, venture capital trusts are considered high risk and often so offer
handsome returns or cost the investor all or even more of their initial
capital. It is however important to note that high risk does not
automatically translate into high returns. The intrinsic value of the
investment vehicle among other factors need to be considered in depth to
determine if the investment is worth the risk</span></span>
Answer:
The annual financial disadvantage of eliminating the division is $30,000.
Explanation:
contribution margin = revenue - variable costs = $200,000
fixed expenses = $500,000
net loss = $300,000.
If the division is eliminated, only $170,000 of the fixed expenses can be avoided, therefore the company's fixed expenses will remain at $330,000.
Therefore, eliminating the children's division will result in a $30,000 (= $330,000 - $300,000) decrease in net income.
