Answer:
The net income for Year 2 is $ 114,482
Explanation:
Accounting Equation is used in order to calculate the closing capital figure of Year 1 and Year 2:
Assets=Liabilities + Equity.
we can rearrange the formula as Assets-Liabilities = Equity
- So in Year 1. the closing capital is: $910,049-$274,794 = $635,255.
- In Year 2. the closing capital is : $988,160-$234,792 = $ 753,368
Now we can construct an equation to drive net income of year to by means of balancing figure:
Opening capital year 1: $635,255
+ Additional Capital in Year 2: $28,651
-Drawing in year 2: $(25,020)
Net Income(Balancing figure) <u>$114,482</u>
Closing Capital Year 2: $ 753,368
Answer:
The net operating cashflows are 18,876 dollars.
Explanation:
Operating cashflows are cashflows which an entity generates from it core operations. In other words cash flow related to investment and finance activities do not form part of an entity operaing cashflows.
So in this example interest will not be part of operating cashflows.
For more details please refer to below given calculations.
OCF
Sales 46,200
Cost (23,100)
Tax (4,224) (W-1)
OCF 18,876
(W-1) Calculating profit to find tax paid
(46,200-23,100-2,200-1,700)*22%
Answer:
A) $14,000.
Explanation:
In the profit or loss statement, the key elements are sales and expenses and the net of these two gives the net income.
Given
Service Revenue = $40,000,
Wages Expense = $25,000
Net Income = $1,000
Total expense = $40,000 - $1,000 = $39,000
The total expense is made of the wage expense and other expenses.
Therefore, other expenses = $39,000 - $25,000
= $14,000
Answer:
4, 1, 2,
Explanation:
Here are the projects and their returns
Project Return (%)
1 14
2 12
3 10
4 15
5 12
the firm should choose the project with the highest returns
Projects are mutually exclusive if the projects cannot occur at the same time. If one project is chosen, the others cannot be chosen.
Project 3,4,5 are mutually exclusive. If one of the projects are chosen, other projects cannot be chosen.
Project 4 has the highest return, so it would be chosen first.
the next project with the next highest return is project 1 and then project 2
Answer: false
Explanation:
Vulnerability assessment is defined as the systematic and methodical evaluation of security posture of the enterprise. It is used to expose the assets to the things that can harm them.
The steps that are involved in vulnerability assessment are the identification of asset, threat evaluation, the vulnerability appraisal, the risk assessment and finally the risk mitigation.
Therefore, the question is false
