Answer:
a. Profit(loss) = Total revenue - Total expenses
= 131,000 - 90,500
= $41,000
The company did in fact generate<u> profit of $41,000 </u>and this can be shown from the Income Statement which is where profit or loss is calculated.
b. A company uses its assets to pay off its liabilities so if the liabilities are less than the assets then the company is capable of paying off its liabilities:
Assets = Cash + Accounts Receivable + Supplies
= 30,800 + 25,300 + 40,700
= $96,800
Liabilities are just the Accounts Payable of $25,700.
<em>Liabilities are less than Assets so Miami Music does indeed have sufficient resources to pay its liabilities. </em>
This information comes from the <u>Balance Sheet</u> which is where assets and liabilities are shown.
Answer:
The answer is "- $ 575.68".
Explanation:
please find the attached file.
Ninety-seven percent of the world's water resources are found in<span>salt water</span>
A. * - asterisk
B. : - colon
C. < - strick inequality or less than
D. / - back slash
Among the choices, A. C. and D are permissible characters that can be used in Mac operating system.
The colon ":" is the only illegal character for Mac files.
