Answer:
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'Actual Tigers Company'
Total Assets
$100,000
Stockholder Equity: $30,000
$100,000 - $30,000 = $70,000
$70,000 + $30,000 = $100,000
Total Assets - Equity = $70,000 (total liabilities)
$70,000 + Equity = $100,000 (total assets)
In accounting if we minus the total assets ($100,000) with equity ($30,000) it will always give the "total liabilities" which is (70,000)
Then, adding the "total liabilities" ($70,000) with the equity ($30,000) equals $100,000 equal like as the "total assets"of $100,000
The total assets MUST match the total liabilities. If they don't match then either the calculation of the total assets are inaccurate or the numbers are estimated wrong to recalculate.
Answer: D. Debit to Accounts Receivable of $1,620 and a debit to Cash of $1,080.
Explanation:
Route 66 Gift Shop records sales and sales tax separately so we would have to account for both of them in the amount recorded in the Journal Entry.
For the Accounts Receivables therefore the figure we would record is,
= 1,500 + 1500(0.08)
= $1,620
For the Cash Sales would be
= 1,000 + 1000(0.08)
= $1,080
Therefore option D is correct.
Job Specification.
Definition of Job Specification: a written statement of educational qualifications, specific qualities, level of experience, physical, emotional, technical and communication skills required to perform a job, responsibilities involved in a job and other unusual sensory demands.
Answer:
Net cashflow = Net income + Depreciation
Net cashflow = 3,100,000 + 500,000 = 3,600,000 dollars
Explanation:
Net cashflow equals net income plus depreciation.
