Answer:
The amount of stockholders' equity as of July 1 of the current year is $39,994
Explanation:
In John Wong, DVM, on July 1 of the current year:
Total asset = Cash + Accounts Receivable + Supplies + Land = $10,687 + $8,307 + $1,853 + $24,857 = $45,704
Liabilities = Accounts Payable = $5,710
Basing on accounting equation:
Total asset = Liabilities + Stockholders' Equity
Stockholders' Equity = Total asset - Liabilities = $45,704 - $5,710 = $39,994
The correct answer is D
D- Randomly corruption files
Have a good day and good luck.
Answer:
Reason : To ensure constant flow of cash
Explanation:
<u>Accrual Basis of accounting</u> records transactions when they meet definition and recognition criteria of Assets, Liabilities,Equity, Expense and Incomes.
This is different from<u> cash-basis accounting</u> which records transactions at the receipt or payment of cash.
Because of <em>timing</em> difference, the cash transactions (cash basis) can happen a late than the day of recognition of the elements (accrual basis).
Hence Revenue services demand that income tax be calculated on accrual basis to ensure a constant flow of cash whenever an entity transact.
Answer:
Loss of gdp = 7.6%
Eliminate gdp loss = 121.6
Explanation:
According to Okun's law , 12% loss of gdp.
Natural rate of unemployment=5%
Cyclical unemployment = Actual unemployment - Rate of Unemployment
Cyclical unemployment = 8.8% - 5%
Cyclical unemployment =3.8%
Loss of gdp = 3.8%(2)
Loss of gdp = 7.6%
Loss of gdp = (7.6%(8,000)
Loss of gdp = 608
Spending multiplier = 1/(1 - mpc)
Spending multiplier = 1/(1 - 0.8)
Spending multiplier = 1/ 0.2
Spending multiplie = 5
So,
Eliminate gdp loss = 608/5
Eliminate gdp loss = 121.6
Answer:
$937,000
Explanation:
Calculation to determine the total net amount of property, plant, and equipment that will appear on the balance sheet
Land (location of the office building) $97000
Add Office Building 675000
Add Equipment 457000
Add Office Furniture 135000
Less Accumulated Depreciation (427000 )
Total Net Amount $937,000
Therefore the total net amount of property, plant, and equipment that will appear on the balance sheet is $937,000
