Answer:
$3,728,203
Explanation:
Particulars Amount
Cash Received $2,408,400
Add: Mortgage assume by purchaser $1,445,040
Less: Broker's commission ($96,336)
Less: Points paid by Peyton <u>($28,901) </u>
Amount realized <u>$3,728,203</u>
A computer game that can be purchased online and played right away has good time utility.
This is because going to the store then installing the game on your computer takes time. This time can be saved by simply buying the game online and playing it right away.
Answer:
d. All of the above are correct.
Explanation:
In the case when the government decided that each kind of family required atleast income i.e. $25,000 so it would decrease the work incentive for earning till to $25,000 also it should be taxed by the government. In addition to this, in the case when the workers are discouraged so they miss on the job training and limits their capability for improving out their skills
So as per the given scenario, the option d is correct
Answer:
I used an excel spreadsheet to record this transactions on an accounting equation.
Practice Makes Perfect, Inc.
Income Statement
For the month ended July 31, 202x
Revenues $2,000
Expenses:
- Advertising expense $500
- Rent expense $1,000
- Wages expense $1,000
- Supplies expense $300
- Depreciation expense $750
- Interest expense $417 <u> ($3,967)</u>
Net income ($1,967)
Practice Makes Perfect, Inc.
Balance Sheet
For the month ended July 31, 202x
Assets:
- Cash $99,783
- Accounts receivables $1,800
- Supplies $1,700
- Pianos $47,250
Total assets $150,533
Liabilities:
- Accounts payable $2,500
- Notes payable $50,000
Total liabilities $52,500
Stockholders' equity
- Common stock $100,000
- Retained earnings ($1,967)
Total stockholders' equity $98,033
Total liabilities + equity $150,533
