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TEA [102]
2 years ago
6

Molly liquidates her catering business. She is left with $20,000 after selling all the assets and settling the liabilities. In t

his case, the amount of $20,000 represents the_______.
Business
1 answer:
Firdavs [7]2 years ago
8 0

Answer:

In this case, the amount of $20,000 represents the owner's equity.

Explanation:

Assets:

Assets are the items that are own by a business. Examples of assets are inventory, machinery, company owned vehicles etc.

Liabilities:

Liabilities are the items a business owes to others. Examples of liabilities are bank dept, taxes, mortgage debt etc.

Equity:

Owner's equity is also known as net assets refer to the owner share of assets when the liabilities are paid off.

The relation between Assets, liabilities and owner equity are represented in a equation as:

Assets = Liabilities + Owner Equity

You might be interested in
A company is preparing its cash budget. Its cash balance on January 1 is $290,000, and it has a minimum cash requirement of $340
boyakko [2]

Answer:

The correct answer is:

excess of $15,800 (d.)

Explanation:

In order to calculate the cash excess or deficiency for March, we have to determine the net balance for the period from January, February and March, after deducting the total expenditures from the incomes as follows:

Cash Receipts (income)

January 1 balance = $   290,000

January                  = $ 1,061,200

February                = $ 1,182,400

March                     = $ 1,091,700

Total cash receipt = $3,625,300

Cash payments (expenditure)

January                  = $  984,500

February                = $ 1,210,000

March                     = $ 1,075,000

Total payments      = $ 3,269,500

Net cash available = total cash receipts - total cash payments

= 3,625,300 - 3,269,500 = $355,800

Note, we are told that the minimum cash requirement = $340,000

Therefore:

Cash excess (deficiency) = Net cash available - minimum cash requirement

= 355,800 - 340,000 = $15,800 (excess)

<em>excess because cash available is greater than the minimum cash requirement.</em>

5 0
2 years ago
Imprudential, Inc., has an unfunded pension liability of $800 million that must be paid in 24 years. To assess the value of the
Anon25 [30]

Answer:

101.12 million

Explanation:

<em>The present value of a future cash flow is the amount that can be invested today at a particular rate for a certain number of years to have the future cash flow </em>

The present value of the liability

= FV × (1+r)^(-n)

= 800  × (1.09)^(-24)

= 101.12 million

The present value of this liability= 101.12 million

7 0
3 years ago
Read 2 more answers
On January 15, 2021, Concord Company received a two-month, 6%, $8300 note from William Pentel for the settlement of his open acc
olganol [36]

$10500.

What is credit and debit?

Events known as business transactions have a financial influence on an organization's financial statements. We enter the figures in two accounts, with the debit column on the left and the credit column on the right, to account for these transactions.

<u>Debit</u>

An accounting debit is an addition to an asset or cost account or a subtraction from a liability or equity account. In an accounting entry, it is placed to the left.

<u>Credit</u>

A credit is an accounting item that either raises or lowers an asset or cost account. It can also increase or decrease a liability or equity account. In an accounting entry, it is placed to the right.

Learn more about credit and debit with the help of given link:-

brainly.com/question/27917616

#SPJ4

4 0
1 year ago
Test the following sentences to see if headwords and verbs agree:
Maru [420]

Answer:

a). The statement on the income tax form about the deduction for children and other dependents was simply unreadable.

b). The type of career that many graduates are hoping to pursue pay high salaries and provide long vacations.

c). Apparently, the use of robots in factories has been responsible for a great deal of worker dissatisfaction.

d). The problems associated with government deregulation have been responsible for the economic plight of several major airlines in recent years.

e). The impact of computers on our lives is comparable to the impact of the industrial revolution.

f). The amount of money and time I spend on computer games <u>is</u> more than I can afford.

Explanation:

Subject-verb agreement is described as the grammatical rule according to which the subject, as well as, the verb must agree with one another in number. As per the rules, if the subject(noun or noun phrase) is singular, it will take a singular verb while if the subject is plural(noun or noun phrase), it will carry a plural verb.

According to this rule, <u>the first and third sentence fails to follow this agreement</u>. The first sentence inadequately carries a plural verb 'were' with the singular noun ('The statement') and similarly, the third sentence wrongly employs plural verb 'have' with the singular noun 'the use.' The other sentences are grammatically appropriate as the verbs and noun phrases agree in number.

3 0
2 years ago
Suppose Deborah gets a sales bonus at her place of work that gives her an extra $600 of disposable income. She chooses to spend
Mashutka [201]

Answer:

Option (d) is correct.

Explanation:

Suppose Deborah gets a sales bonus at her place of work,

Disposable Income, YD = $ 600

Consumption, C = $480

Savings , S = $ 120

Marginal propensity to consumer, MPC:

= Consumption ÷ Disposable Income

= 480 ÷ 600

= 0.8

Therefore, Deborah marginal propensity to consume (MPC) is 0.80

Option (d)

7 0
3 years ago
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