Answer: Assets increase $4,500 and liabilities increase $4,500.
Explanation:
An asset are the properties which a business or an organization owns. An asset possess an economic value.
Since the equipment purchased is an asset, this will lead to an increase of assets by $4500 and since it was bought on credit and hasn't been paid for, liabilities will also increase by $4500.
In this instance, Xavier and Shawn are general partners. In this arrangement, all partners are equally responsible for the business, meaning they are both liable for any financial loss. LLC would protect their personal assets from this type of claim. Obviously, this isn't a sole proprietorship because there is more than one owner.
Answer:
check the calculations below.
<em>You didn´t post the complete information of the exercise, I searched the exercise online and tried to ask the most useful question.</em>
Explanation:
a) current margin = Sale price - Cost
= $42 - $28 = $14 per unit
(b) Selling price if margin is 49%
= Cost / (1-0.49)
= 28 / 0.51
= $55
Profit = 55*49% = 227
(c) Price to consumer = Selling price / (1-0.1)
= 55/ 0.9
= $61.1
(d) Price to Consumer = Selling price from Chengg + Margin
= 61 + 10 = $71
