Answer:
Th answer is: net income for year 2 is $45,000
Explanation:
We must first determine the equity for both years (equity= assets - liabilities)
- Equity year 1 = $940,000 - $300,000 = $640,000
- Equity year 2 = $995,000 - $270,000 = $725,000
Then we calculate the change in equity:
- change in equity = $725,000 - $640,000 = $85,000
Finally to determine the net income or year 2 we use the following formula:
Net income (Y2)= change in equity - additional investments + dividends paid
net income (Y2) = $85,000 -$73,000 + $33,000 = $45,000
Answer:
1. Damaged or obsolete goods are not counted in inventory if they cannot be sold.
2. If these can be sold… Cost should be reduced to Net Realizable Value
Explanation:
The law relating to the valuation of inventory is that ''inventory should be valued at lower of 'Cost' and 'Net Realizable Value'.
Therefore in the case of damaged or obsolete goods, they have to be eliminated from inventory, otherwise it will lead to overvaluation.
However in the case where these can be sold, They have to be valued at lower of 'cost' or 'salable value', implying that 'Cost' should be reduced to 'Net Realizable Value'
Reshmie is called a <u>shareholder </u>of Ron Digital Marketing firm.
<h3>Who is a Shareholder?</h3>
A shareholder is an individual person, firm, or institution who holds at least one share of a company's equity.
Because shareholders effectively own the firm, they profit from its success. These benefits take the shape of improved stock values or financial earnings given as dividends.
When a firm loses money, the share price lowers automatically, causing shareholders to lose money or incur losses in their holdings.
Learn more about shareholders here:
brainly.com/question/25686394
Answer:
c. consumption falls and investment rises
Explanation:
- As there is a net drop in the net exports of the economy to near zero and the saving rises then the consumption will fall and there will be a rose in the investments.
- It also is called as a closed economy and this also affects the net imports that remain in a negative number. And is direct contracts to the ope economy were the trade takes place to form the marginal exchange.
Describe how you will operate your business in terms of your involvement. If I were to own and operate my own business, I would make sure to have a good management team in place that can handle business happenings incase I am not able to be there. I would want to be highly involved from training employees at lower levels, to making sure those who work in high positions all carry out the same ethics I would like the company to encompass. It would be important for me to be as involved and present in the business I own as possible
