Considering the equity ownership analysis, the two statements about owners of equity in a business that is TRUE include "<u>A Partner owns equity and Founders own equity.</u><u>"</u>
<h3>What is Owners Equity?</h3>
Owners Equity is a business term that is used to describe the right of the owners to the business assets after the liabilities are removed.
Given that owners' equity relates to the business's assets, then it is concluded that the <u>founders</u> and <u>partners</u> of the business own equity.
Hence, in this case, it is concluded that the correct answer is options A and D.
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Answer: c. $7,100
Explanation:
Supplies cost according to the flexible budget is to be calculated based on the actual level of activity.
The cost is:
= Fixed cost + (Variable cost * actual level of activity)
= 2,240 + (6 * 810)
= 2,240 + 4,860
= $7,100
Answer:
The correct answer is option B.
Explanation:
The price of a good is $5, the quantity demanded is 100 units per month; when the price is $7, the quantity demanded is 80 units per month.
Price elasticity of demand
=
=
=
=
= -0.666 or 0.67
Answer:
$143.30
Explanation:
In order to determine the principal reduction payment, the monthly interest will need to be calculated. The interest will then be deducted from the total monthly payment to compute the principal reduction payment:
Annual Interest = $118,000 X 7/100
= $8,260
Monthly interest = $8,260/12
= $688.33
Principal reduction = $831.63 - $688.33
= $143.30