$2712000 are the creditors’ claims on their assets.
The given assets = $4393000, common stock = $1077000, retained earnings = $604000, creditor's = ?
libilities = assets
creditors + common stock + retained earnings = assets
creditors + $1077000 + $604000 = $4393000
creditors + $1681000 = $4393000
creditors = $4393000 - $1681000
creditors = $2712000
Hence, creditors' claim on their assets is $2712000.
Still, a car is an assets if it's cheaper than what you paid for it because it's readily available on the market and can be turned into cash. That alone, by definition, makes it an asset. It's these additional costs and constant depreciation that make a car worthless.
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The appropriate reflection of the cash transactions between these reporting entities is as follows:
John Hamilton Sauce-it-up Stone Creek Bank
Cash +$500,000 $450,000 -$500,000
-$450,000
Balance $50,000 $450,000 -$500,000
<h3>What is a reporting entity?</h3>
A reporting entity is an economic unit that publishes general purpose financial reports to enable users make and evaluate their decisions about the allocation of scarce resources.
Thus, John Hamilton's cash holding increased by $50,000 net. The cash holding of Sauce-It-Up increased by $450,000 while the cash holding of Stone Creek Bank decreased by $500,000.
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Answer:
$12,240
Explanation:
Social security Tax = $80,000 x 12.4%
Social security Tax = $9,920
Medicare Tax = $80,0000 x 2.9%
Medicare Tax = $2,320
Total tax = $9,920 + $2,320
Total tax = $12,240
Answer:
0.64
Explanation:
Debts to total asset ratio = Total liabilities / total assets
For J.Cox Inc 2016; Debts to total asset ratio = $47,422 / 73,744
Debts to total asset ratio = 0.64306
Debts to total asset ratio = 0.64
2016 debt-to-total-assets ratio for J. Cox, Inc. is 0.64
