Answer:
164754
Explanation:
Assets are resources controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity (AAA).
Based on the data given, assets is computed as follows;
Cash (checking account) 2000
Cash (savings account) 10000
Home 120000
Investments 12789
Car 19965
TOTAL ASSETS 164754
Mortgage is recorded separated by the home and is treated as liability
Loan & Auto loan are also liabilities of Matthew
Credit cards balances are only his indication of capacity to buy which is if that happens said transaction would result into an obligation of Matthew to pay or simply his liability
Answer:
$240,000
Explanation:
Note: <em>Question is incomplete and the complete question is attached as picture below</em>
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Particulars Amount
Total sales $1,300,000 ($800000+$500000)
Less: Total operating expenses <u>$900,000 </u> ($200000+$700000)
Income before tax $400,000
Less: Corporate tax <u>$160,000 </u> ($400,000*40%)
Net Income <u>$240,000</u>
Answer: C. Maturing
Explanation:
The product life cycle has 4 very clearly defined stages, each with its own characteristics that mean different things for business that are trying to manage the life cycle of their particular products. This stages are Introduction, Growth, Maturing and Decline. Although, there are other conventions of this cycle/ Product stages which includes saturation before decline, or development before introduction, but for the sake of COFFMAN'S ELECTRONICS which we are considering, they are at a maturing stage.
Answer and Explanation:
The journal entry to record the federal income tax expense is shown below:
Federal income tax expense ($10,000 - $4,000) $6,000
To Federal income tax payable $6,000
(being the federal income tax expense is recorded)
Here the federal income tax expense is debited as it increased the expense and credited the federal income tax payable as it increased the liabilities
Answer:
Increase, Decrease
Explanation:
A decrease in the supply results in many buyers competing for very few goods. If the demand is constant, the quantity supplied and price have an indirect relationship. A decrease in the volume of supplied results in an increase in price. Many buyers will be competing for a few products causing the equilibrium price to increase.
A decrease in supply will cause the quantity available for buyers to buy to decline. Consequently, the volume purchased will be fewer. Equilibrium quantity will, therefore, decrease.
