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Verizon [17]
3 years ago
15

The balance of​ Morgan, Capital at the beginning of the year and the end of the year was $ 45,000 and $ 70,000​, respectively. T

here were no new capital contributions during the year. Owner withdrawals were $ 23,000. What was the net income or loss for the​ year?
Business
1 answer:
Anna35 [415]3 years ago
6 0

Answer:

$48,000

Explanation:

Given that,

Ending owner's equity = $70,000

Beginning owner's equity = $45,000

Owner's withdrawals = $23,000

There were no new capital contributions during the year.

Net income (loss):

= Ending owner's equity - Beginning owner's equity + Owner's withdrawals

= $ 70,000 - $ 45,000 + $ 23,000

= $48,000

Therefore, the net income for the year is $48,000.

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DaniilM [7]

Answer: See explanation

Explanation:

We should note that microeconomics deal with a particular sector in the economy and not the whole sector. Macroeconomic deals with the whole economy and looks at ways by which the decisions of government have an effect on the whole economy.

Based on the above explanation, the answer is provided below:

• The effect of government regulation on a monopolist's production decisions= Microeconomics

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3 years ago
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Answer: Unearned subscription revenue.

Explanation:

Tax is made on a cash basis which means that a transaction is eligible for taxation once cash has been paid for it. Businesses however have to use the Accrual basis which only record transactions in the period that they have been incurred.

In this scenario, there is more subscription payment in cash than the company recognized which means that the company has not yet delivered the service they were paid for and so could not recognize the subscriptions. They will however be taxed on those amounts because the cash has come in.

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Answer:

$784,700

Explanation:

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3 years ago
According to libertarians, the government should redistribute income from rich individuals to poor individuals to achieve a more
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Answer:

b. False

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3 years ago
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