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3 years ago

Match the different types of incomes to their sources.

2 answers:

7 0

There are three (3) types of income: Earned Income, Portfolio Income and Passive Income.

Earned Income - a type of income that is generated through work (e.g. salary)

Portfolio Income - These income are somewhat called "capital gains" because it is where the state gets salary taxes. This type of income is generated through selling investments in a higher price that you paid.

Passive Income - This type of income is generated through your assets that you have created. Like for instance, you bought a house and let it rent to earn an income.

Norma-Jean [14]3 years ago

5 0

For plato

Automatic Draft- A convenient payment method where funds are automatically debited from your account

Cash- the physical form of currency

Credit card- Allows you to make a payment now and pay for it later

Digital Wallet- An electronic device that aids consumers to make online payment through various websites

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Janes Company provided the following information on intangible assets: A patent was purchased from the Lou Company for $1,100,00

juin [17]

Answer:

Please find attached Balance sheet.

Explanation:

4 0

3 years ago

What is the largest type of financial institution ?

Alecsey [184]

1.) Commercial Bank
2.)Advisory Firms
3.)Mutual Funds
4.)Insurance Companies

7 0

2 years ago

In April 2013, Sparkle Enterprises purchased the Crimson Mine at a cost of $18,000,000. The mine is estimated to contain 500,000

DaniilM [7]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

In April 2013, Sparkle Enterprises purchased the Crimson Mine for $18,000,000. The mine is estimated to contain 500,000 tons of ore with a residual value of $2,000,000 after mining operations are completed. During 2013, 120,000 tons of ore were removed from the mine and sold.

Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced

Annual depreciation= (16,000,000/500,000)*120,000= $3,840,000

6 0

3 years ago

Jordan has the following assets and liabilities:-Two Cars $10,000-House $200,000-Mortgage $100,000-Cash $1,000-Car Loans $3,000-

Ilia_Sergeevich [38]

Answer:

The correct option is B. $109,000; $213,000; $104,000

Explanation:

For computing the wealth, first, we have to compute the assets and liabilities value

So, the assets = Cars + House + cash + checking account balance

= $10,000 + $200,000 + $1,000 + $2,000

= $213,000

So, the liabilities = Mortgage + car loans + credit card balance

= $100,000 + $3,000 + $1,000

= $104,000

we apply the accounting equation which equals to

Assets = Liabilities + shareholder equity

And, the wealth equal to

= Assets - Liabilities

= $213,000 - $104,000

= $109,000

Hence, Jordan's wealth is $109,000, the value of Jordan's assets is $213,000, and the value of Jordan's liability is $104,000.

Therefore, the correct option is B. $109,000; $213,000; $104,000

3 0

3 years ago

A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and paid out cash dividends of

snow_lady [41]

Answer:

Ending retained earning will be $433750

Explanation:

We have given beginning balance = $430000

Net income = $60000

Dividend paid = $56250

We have to find the ending balance

We know that ending retained earning is given by

Ending retained earning = beginning retained earning + net income - dividend paid

So Ending retained earning = $430000+$60000-$56250 = $433750

6 0

3 years ago