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3 years ago

Definition of net worth ?

Business

2 answers:

Luda [366]3 years ago

8 0

Answer:

Net worth is the measure of the wealth of an entity, person, or corporation, as well as sectors and countries. Simply, net worth is defined as the difference between assets and liabilities. It is an important metric to gauge a company's health and it provides a snapshot of the firm's current financial position.

xeze [42]3 years ago

8 0

Full definition of Net worth: Net worth is the value of all the non-financial and financial assets owned by an institutional unit or sector minus the value of all its outstanding liabilities.

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1. A parent sells merchandise to its subsidiary at a markup of 20% on cost. In the current year, the subsidiary had $120,000 in

NARA [144]

Answer:

The subsidiary reports cost of goods sold at A. $660,000.

Explanation:

Cost of goods sold is the direct cost of producing or purchasing the goods sold by a business. The formula for cost of goods sold is as follows:

Cost of goods sold = Opening inventory + Purchases - Closing inventory

The subsidiary calculates its cost of goods sold as follows.

Opening inventory $120,000

Add: Purchases $720,000

Less: Closing inventory ($180,000)

Cost of goods sold $660,000

Therefore, the correct option is A. $660,000.

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3 years ago

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3 years ago

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2 years ago

Fred and Barney started a partnership. Fred invested $20,000 in the business and Barney invested $32,000. The partnership agreem

svet-max [94.6K]

Answer:

The amount of income assigned to the two partners would be $18,100 and $19,900 respectively.

Explanation:

For computing the amount of income assigned to the two partners, we have to do the following calculations which are shown below:

1. Dividend amount for each partner:

For Fred = Invested amount × rate of return

= $20,000 × 15%

=$3,000

For Barney = Invested amount × rate of return

= $32,000 × 15%

= $4,800

The total dividend amount equals to

= Fred dividend + barney dividend

= $3,000 + $4,800

= $7,800

2. Now compute the remaining amount, and divide it in the sharing ratio

So, the remaining amount would be

= Partnership income - total dividend amount

= $38,000 - $7,800

= $30,200

So the Fred income would be = $30,200 × 50% = $15,100

And, the barney income would be = $30,200 × 50% = $15,100

So, the amount of income:

For Fred = Dividend income + remaining income

= $3,000 + $15,100

= $18,100

For Barney = Dividend income + remaining income

=$4,800 + $15,100

= $19,900

Hence, the amount of income assigned to the two partners would be $18,100 and $19,900 respectively.

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3 years ago

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3 years ago