The deficit in my third year of college is $600.
Deficit is the amount by which expenditures exceed income. Deficits increases the level of debt because deficit spending has to be funded through borrowing.
Deficit in the third year of college = gap in the third year - gap in the second year
$4,800 - $4,200 = $600
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Answer: Balance Sheet
Profit and Loss Statement
Cash Flow Statement
Explanation:
Balance Sheet or the statement of Financial Position is a report that shows the assets that your business owns against your equity and liabilities. This report can help you make asset purchasing decisions or decisions about how to fund the acquisition of new assets.
Profit and Loss Statement: shows a detail of the income your business has earned, the expenses you incurred to earn this income and your profit/loss. This report can help you figure out if your expenses are too high or the prices you charge for your goods/services are too low.
Cash Flow Statement: shows your liquidity position at different points during a financial period. This report is important as it allows you to see periods when you may need an extra inflow of funds to keep your business operational and can help you decide when to apply for bank loans or whether to delay the purchase of some assets.
Answer:
number of share 30,000 share
price per share = $90
Explanation:
given data:
investor's share = 5%
outstanding share =400,000
stock split = 3/2
number of share after spliting = investor share* outstanding share* stock split
= 5%*400,000*(3/2)
= 30,000 share
per share price can be determined by using following relation:
= $90
Answer:
Cash (Debit) $2,000
Sales (Credit) $2,000
Cost of Merchandise Sold (Debit) $1,250
Merchandise Inventory (Credit) $1,250
Explanation:
Cash (Debit): Cash increase because it is a Cash Sale, cash increases by debit.
Sales (Credit): to register the sale, Sales(income) increases by credit
.
Cost of Merchandise Sold (Debit): to record the cost of the merchandise sold, the costs increase by debit.
Merchandise Inventory (Credit): to record the inventory output of the merchandise sold, inventory decreases by credit.
