Total assets 44900
Less: Liablities 14,550
Total Owner's equity 30,350
Less: Owner's capital 30,670
Add: Drawings 7,500
Less: Revenues 8,850
Expense 1,670
Assets =Liabilities +Owner's-Drawings+Revenues-Expense capital
44,900 = 14,550 + 30,670- 7,500 + 8,850 - 1,670
2. Jacob states a profit of $7,180
Net Income = Revenues – Expenses
= 8850–1670 = 7180
- Equipment, real estate, raw materials, and inventories are examples of tangible assets. Intangible assets include things like royalties, patents, and other intellectual property.
- The amount earned by an individual or corporation after costs, allowances, and taxes is referred to as net income. Net income in company is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid.
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Answer:
<u>the supply curve</u>
Explanation:
Remember the supply curve shows the relationship between the amount of a commodity that a producer (or orange farmer) is <em>willing </em>to offer and at a particular price at any given time.
Because of the subsidies to orange farmers we expect the price of orange to become lesser in the future. Therefore the rightward shift occurs in supply curve for oranges due to favorable changes such as the new legislation which may lead to:
- Reduction in tax,
- Reduction in cost of factor of production,
- Expectation of fall in price in future,
Answer:
The correct answer is $800
Explanation:
Giving the following information:
Fulbright Corp. uses the periodic inventory system.
Fulbright made the following purchases (listed in chronological order of acquisition):
· 40 units at $100
· 70 units at $80
· 170 units at $60
Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year.
Ending inventory= [(100 + 80 + 60)/3]*10
Ending inventory= 80*10= $800
The best time to invest would be <span>c : when sales are consistent.
When sales are consistent, companies do not have to worry about unpredicted occurrences that could threaten their finance because they could always cover it in the next inflow. During this time, company could start making their investment as long as the investment is highly liquid.</span>
Answer: A. Present; B. Taken; C. Future; D. Present
Explanation:
The present value of a future amount of money is the amount that, if invested today, will grow to be as large as that present amount when the interest that it will earn is taken into account.
The calculation that we use to convert a future amount of money to its present value is called discounting.
