In the scenario, in which, Tomas behaves in a loving manner toward his grandmother, but when she is not looking he regularly takes her credit cards from her purse and makes unauthorized purchases means that Thomas is engaged in material exploitation of his grandmother. It is a financial abuse, because Thomas steels money from her.
Answer:
$125,000
Explanation:
total assets $160,000 = total liabilities $90,000 + total equity $70,000
income statement:
revenues $210,000
<u>expenses $120,000</u>
net income $90,000
<u>- dividends $35,000</u>
retained earnings $55,000
stockholders' equity at end of the year = $70,000 + $55,000 = $125,000
A self-liquidating premium is one in which the extra goods is supplied at a discount from the retail price but at a level sufficient to pay the item's cost.
When a consumer is expected to pay a specific monetary value for a gift or item, this is referred to as a self-liquidating premium. Premium Offer refers to value-added items, travel, or services offered to consumers in exchange for purchasing an alcoholic beverage product, also known as "product gift" or "gift with sales promotion.". Small gifts are supplied with the box as an in-or out-of-package premium. A nice example of this is the All Black collectors' cards included in Sanitarium Weet Bix boxes.
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Answer:
The answer is $53,732.
Explanation:
The value of the equipment reported on Libby Company's balance sheet is equal to:
Cash payment at purchase + Present value of 8 equal semiannual payment, $6,700 each discounted at 3% ( because semiannual payment is made for 4 years so we have 2 x4 = 8 payments; and annual borrowing rate is 6% so we have discount rate = 6% /2 = 3%).
with:
Cash payment at purchase = $6,700;
Present value of 8 equal semiannual payment, $6,700 each discounted at 3% = (6,700/3%) x ( 1 - 1.03^(-8) ) = $47,032 ( that is, apply the formula to find present value of annuity).
we have:
The value of the equipment reported on Libby Company's balance sheet = 6,700 + 47,032 = $53,732.
Answer:
Notes Payable - Balance sheet
Advertising expense - Income statement
Common stock - balance sheet
Cash - balance sheet
Service revenue - income statement
Dividends - Statement of Retained Earnings
Explanation:
A. Notes payable will appear on Balance sheet(Under Liability)
B. Advertising expense will appear on Income statement(Under expense)
C. Common stock will appear on Balance sheet(Under Equity)
D. Cash will appear on Balance sheet(Under Asset)
E. Service Revenue will appear on Income statement(Under revenue or sales or income)
F. Dividends will appear on Statement of Retained Earnings which is the same thing as Statement of Owner's Equity