Answer: $11,200
Explanation:
Using the accounting equation:
(Total Assets) = (Total Liabilities) + (Total Capital)
So,
(Total Liabilities) = (Total Assets) - (Total Capital) (1)
Based on equation (1), in order to compute for the total liability, we need to compute the total assets and total capital.
At the end of the first year, the following are the assets Shapiro's consulting services (together with the amount):
Cash: $16,000
Office Supplies: $3,200
Equipment: $24,000
Accounts Receivable: $8,000
TOTAL ASSETS $51,200
Note that the total assets is obtained by adding the amount (or value) of the all the assets listed above.
Since the net income is an increase (or decrease if it's a net loss) of capital, we classify net income as capital. In particular, the net income of Shairo's at the end of first year adds to the capital at the start of first year.
Moreover, the withdrawal of money by the owner also decreases the capital.
Thus, the total capital at the end of first year is calculated as follows:
Capital (start of the year): $15,000
Net Income (end of year): $27,000
Withdrawal Amount: ($2,000)
TOTAL CAPITAL: $40,000
Note: ($2,000) means -$2,000. This notation is used in accounting.
Hence using equation (1), the total liabilities at the end of first year is given by
(Total Liabilities) = (Total Assets) - (Total Capital)
= $51,200 - $40,000
Total Liabilities = $11,200
Answer:
The correct answer is letter "B": to a particular product overtime premiums paid.
Explanation:
Overhead costs is an accounting term used for expenses that have to be paid, even if the business does not earn any revenue. The business would not be able to operate without paying its overhead expenses even if the expenses do not directly relate to the product or service being produced.
Examples of <em>overhead costs are rent, utilities, office supplies, repairs and maintenance, insurance, taxes, </em>or <em>the salaries of human resources and accounting personnel</em>. <em>Overtime premiums paid to plant workers</em> fall into this category as well.
External forces that affect the success of a business enterprise.
Opportunities and threats are part of a SWOT analysis where the opportunities are external forces that benefit or help the success of a business, whereas threats are external forces that hurt or hinder the success of a business. These forces are the opposite of the internal forces, strengths and weaknesses. Together, they form an analysis of a firm's competitive and comparative advantage in the current market.
Answer:$119,735.6
Explanation:
To calculate the total in the account,we use the compound interest formula
A= P ( 1+ ( R/2)/100)∧2n
P = $ 12,000 n = 4 R = 12%
A = 12,000 (1+(12/2/100)∧2*4
A = 12,000 ( 1+ ( 6)/100)∧2*4
A = 12,000 ( 1+0.06)∧8
A= 12,000 ( 1.06)∧8
A = 12,000 ( 1.5938)
A= 12,000* 1.5938
A= $ 19,125.6
Another deposit into the account
A = P ( 1+(R/2)/100)∧2n
A= 50,000 (1+12/2/100)∧2*6
A= 50,000 (1+6/100∧12
A = 50,000 ( 1+0.06)∧12
A = 50,000 (1.06)∧12
A= 50,000 ( 2.0122)
A = 50,000* 2.0122
A = 100,610
Therefore, the total in the account
$19,125.6 + $100,610
= $119,735.6
