Answer:
$125,000
Explanation:
Opening values of;
Total assets = $120,000
Total liabilities = $40,000
Total equity = $120,000 - $40,000 = $80,000
During the year,
Total revenues = $140,000
Total expenses = $50,000
Withdrawal by owner = $45,000
The amount withdrawn by the owner reduces the owners equity. This may be deducted from the net income.
Net income from the year = $140,000 - $50,000 - $45,000
= $45,000
This will be added to the opening owner's equity to get the closing owner's equity.
Owner's equity at the end of the year = $80,000 + $45,000
= $125,000
Side of the package I think
Answer:
The answer is low
Explanation:
Liquidity or Solvency is the ability of a business to pay its debt(both in short term and long term).
In the question, Coleman Luggage has a liability of 879,000 and the total current assets(which can be used to offset the liability) are cash balance of $175,000 + inventories of $220,000 + Other short-term assets of $85,000 = $480,000.
To know its solvency (net working capital) = Asset - liability
$480,000-870,000
= -$390,000.
Coleman Luggage has a low solvency because his asset cannot cover all his liabilities. His asset is less than his liabilities
<span>False. lim f(x) x approaches may exist even function f defined x=a.The concept limit has tot do with the behavior of function close x=a and not x=1.</span>