Answer: $11,200
Explanation:
Using the accounting equation:
(Total Assets) = (Total Liabilities) + (Total Capital)
So,
(Total Liabilities) = (Total Assets) - (Total Capital) (1)
Based on equation (1), in order to compute for the total liability, we need to compute the total assets and total capital.
At the end of the first year, the following are the assets Shapiro's consulting services (together with the amount):
Cash: $16,000
Office Supplies: $3,200
Equipment: $24,000
Accounts Receivable: $8,000
TOTAL ASSETS $51,200
Note that the total assets is obtained by adding the amount (or value) of the all the assets listed above.
Since the net income is an increase (or decrease if it's a net loss) of capital, we classify net income as capital. In particular, the net income of Shairo's at the end of first year adds to the capital at the start of first year.
Moreover, the withdrawal of money by the owner also decreases the capital.
Thus, the total capital at the end of first year is calculated as follows:
Capital (start of the year): $15,000
Net Income (end of year): $27,000
Withdrawal Amount: ($2,000)
TOTAL CAPITAL: $40,000
Note: ($2,000) means -$2,000. This notation is used in accounting.
Hence using equation (1), the total liabilities at the end of first year is given by
(Total Liabilities) = (Total Assets) - (Total Capital)
= $51,200 - $40,000
Total Liabilities = $11,200
Answer:
The percentage of Indiana residents with a college degree rises from 25% to 30%.
Explanation:
Human capital is one of the most important (according to some economists the most important) aspect for economic growth. If college graduates in Indiana go from 25% to 30%, it means that Indiana's human capital has improved.
With improved Human Capital, now Indiana can produce better steel and corn, or even produce other things, because its college graduates have acquire the necessary knowledge to do so. This will in turn lead to economic growth and a higher standard of living.
Answer:
$238.18
Explanation:
For calculation of target cost first we need to follow some steps which is shown below:-
Step 1
Operating income before = Sold television - Cost
= $380 - $290
= $90
Step 2
Total operating income = $90 × 120,000
= 10,800,000
Step 3
New sales in units = Target operating income ÷ Increase percentage
= 10,800,000 ÷ (120,000 × 110%)
= 10,800,000 ÷ 132,000
= $81.82
Finally
So, the Target cost = Lower price - New sales in units
= $320 - $81.82
= $238.18
<span>Free enterprise is based solely on private ownership as the means of production. This type of system gives power to its citizens by restricting the government when it comes to ownership and regulating business. Citizens are allowed to freely own and operate a business, make a profit and compete against other businesses.</span>
Answer:
A. an overstatement of net income and an understatement of liabilities.
Explanation:
