Answer:
Explanation:
In the classified balance sheet, we summarize the asset and liabilities into various types
Like assets are divided into fixed assets, current assets, and intangible assets.
Likewise, liabilities are also divided into current liabilities, long term liabilities
In every balance sheet, the accounting equation is used that means
Total assets = Total liabilities + Shareholder equity
The preparation of the classified balance sheet for Evan McGruder, Inc. on June 30, Year 3 is presented in the spreadsheet. Kindly find the attachment below:
Answer:
d. $200.
Explanation:
Note the purchase price is $10,000 while $2,000 was the down payment, the car purchase was financed with $8,000 in loan.
The monthly payment based on a 9% annual percentage rate can be determined using a financial calculator as shown below, bearing in mind that the calculator would be set to its default end mode before making the following inputs:
N=48(number of monthly payments for 4 years that the loan would last)
I/Y=9/12(monthly interest rate which is 9%/12)
PV=-8000(the loan amount)
FV=0(the loan balance after all monthly payments would be zero)
CPT
PMT=$199.08(closest $200)
Answer: Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be: $123000.
Explanation: First we must calculate the accumulated earnings to date with the equity equation: Assets = Liabilities + Equity
We know that equity is made up of capital + retained earnings.
If the asset is 195,000, the Liability 15,000 and the capital 60000
195000 = 15000 + 60000
195000 = 75000
195000 - 75000 = Retained earnings
$ 120000 = Retained earnings.
The result of the year is Income - expenses
226000 - 175000 = $ 51000.
Then the company's total earnings are retained earnings + Profit for the year = 120000 + 51000 = 171000.
We subtract the distribution of dividends and obtain the balance of the retained earnings account: 171000 - 48000 = $123000.
Answer:
as market price increases, quantity demanded decreases
as market price decreases, quantity demanded increases
Explanation:
The law of demand stated the inverse relationship between the price and the quantity demanded keeping other factor constants like - taste and preferences, government policy,etc
As if the price increases, the quantity demanded decreases and if the price decreases, the quantity demanded increases. So, the demand curves slopes downward due to inverse relationship
Answer:
Justification/ Recommendation Report
Explanation:
Since you have conducted the research and you have been given the power to determine a new provider, a recommendation or justification report is the best report to write in this situation. This is because you have found the new provider worthy by the standards of your research and it has plans that suit your company the most, you will therfore have to write a report recommending that new provider and also give reason as to why you are recommending that provider(justification).
Cheers.
