1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
stira [4]
3 years ago
6

Prepare a net worth statement for Ben Lingo based on this information: He owns a car worth $2,000, but owes $1,500 on it at the

bank. Ben has $150 in his savings and $82 in his checking account. His personal property inventory totals $1,200, and he also owes $80 to his credit union.
Business
1 answer:
Murljashka [212]3 years ago
5 0

Answer:

Ben Lingo's Net Worth Statement:

Assets:

Cash $82

Savings $150

Car $2,000

Inventory $1,200

Total Assets = $3,432

Liabilities:

Car loan $1,500

Credit Union loan $80

Total Liabilities = $1,580

Net Worth = Total Assets - Total Liabilities

                 = $3,432 - $1,580

                 = $1,852

You might be interested in
If you value outdoor recreation, which career might be good for you?
spin [16.1K]
You could be a coach of some sort or you could try to be a profesinal athlete or you could be a triner 
4 0
3 years ago
Read 2 more answers
Which of the following terms refers to an ongoing process of making decisions that guides the firm both in the short term and fo
emmasim [6.3K]

Answer: Business plan.

Explanation:

A business plan is a goal/objective set by a business that it intends to use to successfully enter into a market. The business plan provides a guide on how daily operations in a business can be handled to best achieve it's objectives.

6 0
3 years ago
MC Qu. 95 A job was budgeted to require... A job was budgeted to require 2 hours of labor per unit at $12.00 per hour. The job c
docker41 [41]

Answer:

The direct labor rate variance is negative 16,500

Explanation:

8,000 units at 2hours per unit = 16,000 hours x <em>$12 per hour</em> = $192,000 standart cost for the job

actual 15,000 hours and $196,200 total labor cost

labor cost per hour = 196,200/15,000 = <em>13.1 actual rate per hour</em>

( standar rate - actual rate ) x actual hours = rate variance

(12 - 13.1) x 15,000 = -1.1 x 15,000 = -16,500

5 0
3 years ago
When a fruit or vegetable (such as strawberries or lentils) is in season, the demand for it will increase as it becomes cheaper.
REY [17]

Answer:

The correct answer is False.

Explanation:

The law of demand states that a higher price results in a lower quantity demanded, and that a lower price leads to a greater quantity demanded.

An increase in the price of a good or service almost always decreases the quantity demanded of that good or service. Conversely, a price drop will increase the quantity demanded. For example, when the price per liter of gasoline increases, people look for ways to reduce their consumption by combining several chores, moving in a shared vehicle or on public transport, or spending the weekend and vacations in places near their home. Economists call this inverse relationship between price and quantity demanded law of demand. The law of demand assumes that all other variables that affect demand remain constant.

3 0
4 years ago
Valu Food Market is an incorporated cooperative. Like other incorporated cooperatives, Valu Food distributes profits to its owne
Umnica [9.8K]

Answer:

The correct answer is b. their transactions with the cooperative.

Explanation:

A general cooperative society is the one that controls or acts as the "parent" of the other incorporated cooperatives, therefore the accounting management of all of them as a whole will be considered in a consolidated statement of their operations. As there are mutual operations between the incorporated and the parent, it is expected that all obligations, rights or duties will be transferred to a principal in order to recognize the accounting reality of the management of a parent company over others of lower rank considered subordinate.

5 0
3 years ago
Other questions:
  • An organization takes active countermeasures to protect its systems, such as installing firewalls. This approach is known as ___
    6·1 answer
  • Parent sold land to its subsidiary resulting in a gain in 2016, the year of transfer. The subsidiary sold the land to an unrelat
    7·1 answer
  • Both directors and officers of corporations are fiduciaries for the shareholders. Fiduciaries are persons placed in positions of
    10·1 answer
  • A broker showed one of his own listings to a buyer he was representing. The buyer decided to make an offer on the property, whic
    10·1 answer
  • You have been offered a unique investment opportunity. If you invest $10,000 today, you will receive $500 one year from now, $1,
    8·1 answer
  • A particular operation may be performed by two kinds of process. Process A requires a setup time of 40 minutes, whereas Process
    9·1 answer
  • Suppose you purchase five put contracts on Testaburger Co. The strike price is $45, and the premium is $3. If, at expiration, th
    12·1 answer
  • Shareholders' equity reported on the balance sheet is most likely to differ from the market value of shareholders' equity becaus
    7·1 answer
  • Funeral parlors acquired that name because:
    15·1 answer
  • In order for the economy to be strong, businesses must _____.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!