Answer:
Mike's return for the net worth of the year is 22.00%
Explanation:
Total Net Worth = Assets - Liabilities
In the start,
• Net Worth = 600,000 - 200,000 = 400,000
At end of year,
• Net Worth = 700,000 - 180,000 = 520,000
The Contribution made (During the year) = 27,000 + 5,000 = 32,000
Therefore,
Return on the Net Worth = ( 520,000 - 32,000 ) / 400,000 - 1 = 22.00%
Answer:
To focus on the performance...the country does poorly.
Explanation:
Argument or Nonargument
To focus on the performance of the stock market is to zero in on an economic indicator that can do well even as the country does poorly. In 2006, for instance, the Dow Jones industrial average hit highs. According to the just released census data, however, median earnings fell one percent, and millions more Americans entered the ranks of the uninsured. Indeed, from 2000 to 2007 the S&P 500 gained more than 500 points. Meanwhile, the median household income fell by more than $900.The conclusion is....
a) According to the just released..ranks of the uninsured.
b) To focus on the performance...the country does poorly.
c) In 2006, for instance, the Dow Jones...hit highs.
d) Meanwhile...fell by more than $900
The key is to focus on the performance...the country does poorly
Answer:
$3,085,000
Explanation:
FIFO means first in first out. It means it is the first purchased inventory that is the first to be sold.
The costs of goods sold would first be allocated to the beginning inventory = $310,000
The remaining cost of goods sold Je allocated to the inventory made during the year = 210,000 - 25,000 = 185,000
185,000 × ( $3,000,000 / $200,000) = $2,775,000
Total cost of goods sold = $2,775,000 + $310,000 = $3,085,000
I hope my answer helps you
Answer:
$79,800
Explanation:
Depreciation expense using the activity method = (actual hours of use in a given period / total estimated hours of use ) × ( Cost of asset - Salvage value)
(1500/10,000) × ($560,000 - $28,000) = $79,800
I hope my answer helps you.
Answer:
Since there is not enough room here, I prepared the financial statement effects template on an excel spreadsheet that I attached.
a)
January 1, unearned revenue
Dr Cash 30,150
Cr Unearned service revenue 30,150
b)
January 31, accrued services
Dr Unearned service revenue 5,025
Cr Service revenue 5,025
c)
January 31, service revenue from hourly custodial work
Dr Accounts receivable 570
Cr Service revenue 570
