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3 years ago

The value of what you owe minus what you owe is called

1 answer:

4 0

Hey there!

I think you meant to type "value of what you <em>own</em> minus what you owe". Let me know if this assumption isn't correct, though I don't know what the value of what you owe is besides... ya know, what you owe.

The value of what you own is called you assets. This can include anything of value that you own, particularly your pricier possessions. Think of a vintage family heirloom or a highly–priced article of clothing. Assets, though, includes the value <em>everything</em> that you own that you could possibly put a price tag on if you were certain someone would buy it.

What you owe is called your liability. This is basically any debt that you owe anyone, whether it be your buddy who footed your lunch bill the other day when you didn't have enough cash or a student loan you used to pay for college.

Your assets minus your liability is called your net worth. This is basically what you are worth in total. This makes sense, since any debt you owe will be taken out of the amount that you are worth or any money that you have.

Net worth will be your answer.

Hope this helped you out! :-)

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On July 1, 2019, Sunland Company purchased new equipment for $80,000. Its estimated useful life was 5 years with a $10,000 salva

Paraphin [41]

Answer:

On December 31,2019

Depreciation expense Dr $7,000

To Accumulated depreciation $7,000

(Being the depreciation expense is recorded)

Explanation:

The journal entry is shown below;

On December 31,2019

Depreciation expense Dr $7,000

To Accumulated depreciation $7,000

(Being the depreciation expense is recorded)

The computation is shown below:

= ($80,000 - $10,000) ÷ 5 years × 6 months ÷ 12 months

= $7,000

For recording this we debited the depreciation expense as it increased the expenses and decreased the assets so the accumulated depreciation is credited

And, the six months is taken from July 1 to December 31

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3 years ago

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DanielleElmas [232]

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3 years ago

a. Invest all $15,000 in the stock, buying 100 shares. b. Invest all $15,000 in 1,500 options (15 contracts). c. Buy 100 options

GREYUIT [131]

Answer:

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3 years ago

Assume the market basket contains 20X, 30Y, and 50Z. The current-year prices for goods X, Y, and Z are $2, $6, and $10, respecti

Aneli [31]

Answer:

CPI for the current year = 200

Explanation:

Given;

Contents in market basket

20X, 30Y, and 50Z

The current-year prices for goods

X = $2

Y = $6

Z = $10

The base-year prices are

X = $1

Y = $3

Z = $5

Now,

Total cost of market basket in the current year

= ∑ (Quantity × Price)

= 20 × $2 + 30 × $6 + 50 × $10

= $40 + $180 + $500

= $720

Total cost of market basket in the base year

= ∑ (Quantity × Price)

= 20 × $1 + 30 × $3 + 50 × $5

= $20 + $90 + $250

= $360

also,

CPI for the current year = $\frac{\textup{Cost of market basket at current year prices}}{\textup{Cost of market basket at base year prices}}\times100$

CPI for the current year = $\frac{\$720}{\$360}\times100$

CPI for the current year = 200

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3 years ago

Stones Corporation uses a predetermined overhead rate based on machine-hours to apply overhead to the manufacturing process. Las

likoan [24]

Answer: $5 per machine hour

Explanation:

Given the following :

Estimated manufacturing overhead cost = $550,000

Expected machine-hour to be incurred = 110,000

Actual manufacturing overhead = $575,000

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The manufacturing overhead application rate:

Expected manufacturing overhead cost / Expected machine hour to be incurred

= $550,000 / 110,000 machine hour

= $5 per machine hour

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3 years ago