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taurus [48]
3 years ago
7

On June 1 st a hotelâ s balance sheet shows assets of $6,400,000 and ownersâ equity of $2,000,000 what is the amount of the hote

lâ s liabilities? $2,200,000 $4,400,000 $3,400,000 $8,400,000
Business
1 answer:
andreev551 [17]3 years ago
7 0

Answer:

$4,400,000

Explanation:

A balance sheet is a statement showing the financial position of a business as at a particular date. At all time the Asset of a business must be equal  Liabilities + Owners' Equity. i.e Assets = Liabilities + Owners' Equity.

In the case of Hotela's balance sheet

Asset= $ 6,400,000

Equity = $2,000,000

Liabilities = ?

Going by the accounting equation Assets = Liabilities + Owners' Equity.  

To calculate liabilities the formula below will be used

Liabilities = Asset - Owners' equity

Therefore Liabilities = $6, 400,000 - $2,000,000  = 4,400,000

Hence the answer is 4,400,000

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Job descriptions often include the following information related to the job
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Resume, school transcript, professional certifications, awards, memberships in professional organizations. Letters of recommendation, "thank you" notes, newspaper/website articles about you.

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2 years ago
An employee quits her job where she has a balance of $10,000 in her qualified plan. The balance was paid out directly to the emp
yawa3891 [41]

Answer:

$8,000, and she has to complete 60 days

Explanation:

Whenever money has to be taken out of the first plan, then it is the requirement of IRA to complete the rollover within 60 days, also the amount to be withheld is 20% this is in the case where the amount is directly paid o the concerned participant. Then the person concerned for such payment has to keep 20%

Here in the instance Total amount = $10,000

20% of such = $2,000

Thus, amount received from the administrator = 80% = $10,000 \times 80% = $8,000

3 0
3 years ago
Party a has agreed to exchange $1 million u.s. for $1.02 million canadian. what is this agreement called?
Mrrafil [7]

Party A has agreed to exchange $1 million U.S. dollars for1.21 million Canadian dollars. This agreement is called a swap.

<h3>What is swap?</h3>

An agreement for a financial exchange known as a "swap" calls for one of the two parties to commit to making a given number of payments at a specified frequency in exchange for the other party making a different set of payments. These flows often react to interest payments based on the swap's nominal amount.

<h3>What is the advantage of swap contract?</h3>

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Learn more about Swap: brainly.com/question/14990076

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3 0
2 years ago
Olivia is a florist who specializes in roses.
Eva8 [605]

Answer:

Olivier does have sufficient contract rights because she already signed a 5 year contract to supply as many roses as possible to Juan. Juan cannot come at the end of two years and break the contract

Explanation:

1. 1. What contract rights and remedies, if any, does Olivia have against Juan?

The most important point of focus from the aspect of the law and statute of frauds is that from the scenario it was stated clearly that ''She has a <u>five-year written contract with Juan to sell him as many roses as he needs for his wedding chapel.</u> ''

Olivier does have sufficient contract rights because she already signed a 5 year contract to supply as many roses as possible to Juan. Juan cannot come at the end of two years and break the contract

2. What contract rights and remedies, if any, does Olivia have against Ann?

The scenario states clearly that ''Ann emailed Olivia an order for <u>"1,000 white stems''</u> and ''Olivia instead sent orchids, the only "white stems" available at the time.''

Hence Olivia fulfilled Ann's orders and Ann has absolutely no case at all. Olivia has acted in accordance to Ann's request and has full rights to claim her payment.

3. What defenses, if any, do Juan and Ann have?

In summary the defenses of both parties are weak

1. Juan has a defense of unforeseen financial difficulties but this will be insufficient to override a written contract

2. Ann assumed that Olivia would send roses but assumption does not work in the eyes of the law but written agreements.

Additionally, Ann could argue that Olivia should have communicated the price of the orchids at the point of processing Ann's orders.

6 0
3 years ago
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