What are specialist shops

The owner of a business invested $5,000 in the business. what are the effects on the fundamental accounting equation?

Bezzdna [24]

The owner of a business invested $5,000 in the business. Total assets and liabilities increase on the fundamental accounting equation.

<h3>What are assets ?</h3>

Financial accounting classifies as an asset any resource that a business or other economic organization owns or manages. Anything that has the potential to provide positive economic value qualifies. The ownership value that can be turned into cash is represented by assets.

<h3>What are liability ?</h3>

A liability is defined in financial accounting as the future economic advantages that an entity must forgo for other entities as a result of previous transactions or other previous events.

<h3>Difference between asset and liability </h3>

Any possessions that could possibly result in future financial gain are considered a company's assets. Your debts to other people are called liabilities.

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5 0

2 years ago

Wendy leaves her job as a dancer to start her own dance studio. As a dancer, she made $34,000 per year. During the studio's firs

brilliants [131]

Answer:

$8,884

Explanation:

The computation of the economic profit is shown below:

= Received amount - dance earnings - insurance paid - music and licensing fees - boom box - rent and utilities

= $60,480 - $34,000 - $4,300 - $1,846 - $150 - $11,300

= $8,884

The economic profit is come from subtracting the explicit cost, implicit cost from the revenue earned and the same is reflected above

4 0

3 years ago

Which of the following is NOT part of project controlling?A. using a feedback loop to revise the project plan B. close monitori

BartSMP [9]

Answer:

C. sequencing and allotting time to all project activities

Explanation:

This will be part of the Project schedulling phase on which the uhman and materials resources are allocate to complete the activities within the timeframe of the project.

Asinging time to the project activities is part of the project schedulling phase.

While within Project controlling are the activities that check how the project is going. It looks for deviation on the expected outcome and notifies to managment. It must ensure the quality, quantity and cost of the goals

6 0

3 years ago

A company has a selling price of $1,950 each for its printers. Each printer has a 2 year warranty that covers replacement of def

Mnenie [13.5K]

Answer:

$100980

Explanation:

7 0

3 years ago

Read 2 more answers

Say the marginal tax rate is 30 percent and that government expenditures do not change with output. Say also that the economy is

tekilochka [14]

Answer:

a. The Cyclical deficit refers to the deficit arising from the difference between the potential output and the actual output.

The question assumes that the economy is producing at potential which means actual output equals potential output.

Cyclical Deficit = Tax rate * ( Potential Output - Actual Output)

Cyclical Deficit = 0.3 * 0

Cyclical Deficit = $0

b. Structural deficit occurs even when the economy is at potential because it refers to Government deficits that happen when the economy is experiencing normal activity.

Structural Deficit = Actual deficit - Cyclical deficit

Structural Deficit = 200 billion - 0

Structural Deficit = $200 billion

c. Output is $200 billion below potential

Cyclical Deficit = Tax rate * ( Potential Output - Actual Output)

Cyclical Deficit = 0.3 * 200

Cyclical Deficit = $60 billion

Structural Deficit = Actual deficit - Cyclical deficit

Structural Deficit = 200 billion - 60

Structural Deficit = $140 billion

d. Output is $100 billion above potential

Cyclical Deficit = Tax rate * ( Potential Output - Actual Output)

Cyclical Deficit = 0.3 * -100 as actual is above potential

Cyclical Deficit = -$30 billion

Structural Deficit = Actual deficit - Cyclical deficit

Structural Deficit = 200 billion - (-30)

Structural Deficit = $230 billion

7 0

3 years ago

What are specialist shops​

What are specialist shops