1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
LiRa [457]
3 years ago
14

John Joos is the owner and operator of Way to Go LLC, a motivational consulting business. At the end of its accounting period, D

ecember 31, 2013, Way to Go has assets of $669,000 and liabilities of $161,000. Using the accounting equation, determine the following amounts:a. Owner's equity as of December 31, 2013.b. Owner's equity as of December 31, 2014, assuming that assets decreased by $127,000 and liabilities decreased by $39,000 during 2014.
Business
1 answer:
ivolga24 [154]3 years ago
6 0

Answer:

a) December 31, 2013 Owner's equity = 508,000

b) December 31, 2014 Owner's equity = 420,000

Explanation:

Accounting Equation Formula: Owner's Equity = Assets - Liabilities  

A) Way to Go LLC December 31, 2013

Owner's Equity = Assets – Liabilities

Owner's Equity = 669,000 – 161,000

Owner's Equity = 508,000

B) Way to Go LLC  December 31, 2014

Owner's Equity = Assets – Liabilities

Owner's Equity = (669,000-127,000) – (161,000-39,000)

Owner's Equity = 420,000

You might be interested in
Employees tend to stay with one company for their entire careers
SSSSS [86.1K]

false,  hope this helps!

5 0
3 years ago
Read 2 more answers
Which of these is an advantage of filing for Chapter 7 bankruptcy?
kotegsom [21]

Answer:

B) Debts can usually be erased in about 6 months.

3 0
2 years ago
ABC began a defined benefit pension plan for its employees on Jan 1, 2018. The following data are provided for 2018 as of Dec 31
SVETLANKA909090 [29]

Answer: $187 ⇒ Amount should ABC report as a net pension liability (asset) at Dec 31, 2018

Explanation:

Given that,

Data for 2018 as of Dec 31, 2018 are as follows:

Projected benefit obligation = $634

Accumulated benefit obligation = $418.44

Plan assets at fair value = $821

Pension expense = $192.48

Employer's cash contribution (end of year) = $361

The amount should company report as a net pension liability at Dec 31, 2018 as follows:

Net Pension Liability =  Projected benefit obligation - Plan assets at fair value

= $634 - $821

= $187 ⇒ Amount should ABC report as a net pension liability (asset) at Dec 31, 2018

6 0
3 years ago
A degree of aggressive procurement involvement not normally encountered in supplier selection refers to ____. Group of answer ch
Dmitriy789 [7]

Answer:

supplier development.

Explanation:

A degree of aggressive procurement involvement not normally encountered in supplier selection refers to supplier development.

Supplier development is a business strategy and it involves the process of working one-to-one basis or closely with certain suppliers in order to improve and boost their performance for the benefit of growing and developing an organization.

It is a concept that is also similar to reverse marketing in business management. It is a strategic business plan which is aimed at improving the quality and performance of suppliers by availing them resources they need to achieve success and have competitive advantage in the supply chain.

For instance, a buying organization might decide to implore suppliers to enter an emerging market.

Also, another example of the supplier development is, in order to prevent the wide-spread of Corona virus, CDC is ensuring its suppliers of ppe (personal protective equipment) are continuously supplying face masks.

8 0
3 years ago
This is for you so i dont feel bad
Ivahew [28]
Ok thank you very much
7 0
3 years ago
Other questions:
  • ________ are a vital part of the public health assessment function and are used to identify special risk groups, to detect new h
    7·1 answer
  • In a 1998 episode of The Simpsons, mogul Monty Burns and Homer Simpson try to buy protec u s. tax evasion and a small island in
    14·1 answer
  • When the price of good A is $50, the quantity demanded of good A is 500 units. When the price of good A rises to $70, the quanti
    8·1 answer
  • There are three simple procedures that small business owners should do on a timely basis to prevent fraud when they can't afford
    15·2 answers
  • Patricia, the manager of Prime Health Club, was telling her new trainer that "I have many decisions to make in a day, and as the
    14·1 answer
  • When utilizing mbo, the manager and employee jointly set objectives for the employee, the manager develops action plans, the man
    9·1 answer
  • Given direct material cost of $10, direct labor cost of $15, direct-labor based overhead of $12 and Activity-Based Costing overh
    15·1 answer
  • Explain concisely whether the following statement is true or false:
    9·1 answer
  • In Waterway Company, Treasury Stock increased $20400 from a cash purchase, and Retained Earnings increased $80200 as a result of
    9·1 answer
  • 8. Wayne is an insurance company's AML compliance officer. He has been asked by FinCEN to provide the agency with a copy of the
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!