Answer:
It will affect the accounting equation in $7.000.
Explanation:
The Assets will increase in $8.000 because Address You now have the right to claim to a customer $8.000 and is recognized in the Receivables. At the same time, Address You has to diminish its inventories at $1.000, because it delivered the dress to the customer. Finally, on the other hand, the profits for selling the dress ($8.000 - $1.000) affect the equity, and now the Accounting equation is balanced.
Answer:
$61.60
Explanation:
Equity funding need = Projected assets - Projected liabilities - Current equity - Projected increase in retained earnings
Equity funding need = $2,739 - $561 - $1,980 - $136.40
Equity funding need = $61.60
<u>Workings</u>
Projected assets = (Current assets + Fixed assets) * 1.10 = 820+1,670 * 1.10 = $2,739
Projected liabilities = Current liabilities * 1.10 = 510 * 1.10 = $561
Current equity = Current assets + Fixed assets - Current liabilities = 820 + 1,670 - 510 = $1,980
Projected increase in retained earnings = Sales*5% * 1.10 = $2,480*5% * 1.10 = 124*1.10 = $136.40
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Hi there
1,000÷0.20
=5,000
5,000−1,000
=4,000....Answer (this is the total amount of money can be created)
Hope it helps
Answer: $107,500
Explanation:
There is an "Exclusion of gain on sale of home" provision by the IRS that allows for a single tax payer to exclude up to $250,000 from the sale of their primary home. A home qualifies as primary if the owner has lived in it for 2 years or more so Steve's home here is a primary home.
The gain he received was:
= 705,000 - 347,500
= $357,500
From this gain, $250,000 can be excluded so total gain recognized:
= 357,500 - 250,000
= $107,500
