Answer and Explanation:
The preparation of the balance sheet is presented below:
<u> </u><u> Keisha King </u>
<u> Balance sheet</u>
Assets
Current Assets
Cash $2,000
Accounts receivable $17,000
Office supplies $4,250
Total current assets $23,250
Land $36,000
Office equipment $28,000
Total fixed assets $64,000
Total assets $87,250
Liabilities
Current liabilities
Accounts payable $7,500
Total current liabilities $7,500
Total liabilities $7,500
Equity
Common stock $76,470
Retained earning $3,280 (Working note)
Total equity $79,750
Total liabilities and owners equity $87,250
Working note:
As we know that
Retained earning = Sales - rent expense - salary expense - telephone expense - miscellaneous expense - dividend paid
= $19,000 - $3,420 - $7,600 - $660 - $680 - $3,360
= $3,280
Answer: Effective Managers.
Explanation:
An effective manager is a manager that delivers successfully on tasks that he is in charge of and is very good in decision making. Manuel is well known for his ability to meet his objectives set and accurate decision making.
The correct descriptions are matched with their account types below:
Basic Checking account - Does not earn interest and has a low minimum balance
Interest-Bearing Checking account - Pays higher interest than a savings account
Savings account - Earns interest and allows unlimited atm use
Money Market deposit account - Restricts access to funds through withdrawals
Answer:
Present value investment = $98.05
Explanation:
given data
present value = $100
time 1 = 6 months = = 0.5 year
time 2 = 5 years
time 3 = 10 years
interest rate = 4 % = 0.04
to find out
Present value investment in 6 month for the rate 4 percent
solution
we get here Present value investment by as
Present value investment = present value ÷ ..............1
put here value and we get
Present value investment =
solve it we get
Present value investment =
Present value investment = $98.05
Answer:
The correct answer to the following question is option C) $11,000 .
Explanation:
The phaseout limit for married couple filling their return jointly is up to $400,000, but in this case the annual gross income of Rhianna and Jay is $419,400 . So their annual gross income is $19,400 ($419,400 - $400,000) more, and then $19,400 / $1000 = $19.4 , which is approximately equal to $20.
Now the phase out limit would be $20 x $50
=$1000
For the 6 children , the tax credit wold be - $2000 x $6
= $12,000
From the above amount, the phase out amount will be deducted,
= $12,000 - $1000
= $11,000