Answer:
$48,000
Explanation:
Given that,
Ending owner's equity = $70,000
Beginning owner's equity = $45,000
Owner's withdrawals = $23,000
There were no new capital contributions during the year.
Net income (loss):
= Ending owner's equity - Beginning owner's equity + Owner's withdrawals
= $ 70,000 - $ 45,000 + $ 23,000
= $48,000
Therefore, the net income for the year is $48,000.
Answer: $105700
Explanation:
The amount that'll be paid as the cost of the land will be calculated as:
Land purchase = $100,000
Add: Property tax = $2500
Add: Fees = $1000
Add: Grading = $2200
Total = $105700
Therefore, the amount that'll be paid as the cost of the land will be $105700
It will take 8.04 years for the initial investment of $15000 to become $30,000
What is the future value of an investment?
The future value of $15,000 invested now earning a rate of return of 9% per year is $30,000, it the future equivalent of an amount invested now when the invested amount has earned interest over a specific period of time.
The below future value formula of single cash flow can be used to determine the number of years it takes for the initial investment to double.
FV=PV*(1+r)^N
FV=future value=$30,000
PV=initial investment=$15,000
r=rate of return=9%
N=number of years it takes for the initial investment to double=unknown(assume it is X)
$30,000=$15000*(1+9%)^N
$30000/$15000=(1+9%)^N
2=1.09^N
take log of both sides
ln(2)=N*ln(1.09)
N=ln(2)/ln(1.09)
N=8.04 years
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Answer:
The description is for Colombia.
Explanation:
In Colombia and any Latin American country, the business creation process is usually more complicated due to the different types of legal procedures that must be carried out, which often ends up increasing informality levels. In the United States, the process is usually easier, since it takes no more than three days and can be done electronically. In Colombia, for example, a different procedure must be carried out for each national or territorial body (local and national taxes), commercial constitution, among other procedures that take approximately one month to complete. In addition, many of these obligations require the advice of a certified accountant who is the most suitable professional to carry out this procedure.
Answer:
Rate of return is 20%
Explanation:
Rate of return is the actual return received on a investment. In this question Blaser Corporation invested $1,075,000 in asset and earned a income of $216,000. So the rate of return is as follow
Rate of return = Income received / Investment in Assets = $216,000 / $1,075,000 = 0.200 = 20%
