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3 years ago

Net worth is the difference between your assets and your liabilities

Business

1 answer:

kogti [31]3 years ago

3 0

Answer:

The statement is true as the net worth is equal to assets minus liabilities.

Explanation:

Net worth is the actual worth of the company in the market which compared with the assets and the liabilities which the business has. It is that amount by which the assets exceed the liabilities.

In other words, it is the difference among what is own by the business that is assets and what you owe that is liabilities. And if assets exceed liabilities, then the business have a positive net worth. If liabilities exceed assets, then the business have a negative net worth.

It basically provides a snapshot of the financial situation or condition of the business at a point of time.

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Mikey initially invested $2,400 in a company and has held this investment for 3 years. He sold the investment after 3 years for

Tanzania [10]

Answer:

499.80

Explanation:

There is no 39.6% tax bracket, the highest marginal tax is 37%. But we can assume that Mikey had to pay 39.6% in taxes which means that he is in the seventh tax bracket (highest). Since he is classified under the highest tax bracket, he will also pay the highest capital gains rate which is 20%.

Mikey's long term capital gain = $4,950 - $2,400 = $2,550

if he paid regular income taxes = $2,550 x 39.6% = $1,009.80

since he pays capital gains taxes = $2,550 x 20% = $510

That means he saves $1,009.80 - $510 = 499.80

3 0

3 years ago

Greg has developed an automobile engine that runs efficiently for up to three hours on a single russet potato. His friends have

natulia [17]

Answer:

Correct option is (a)

Explanation:

For any venture to be successful, it starts with a vision or idea. In this case, Greg is confident that he will be able to convince US Car manufacturers to purchase his fuel efficient car even though his friends were doubtful if his product will be accepted by car manufacturers.

He also had a clear vision as his goal was to make US economy energy efficient. Vision is to have a positive outlook regarding future.

It can be inferred that Greg has both vision and confidence

4 0

3 years ago

Read 2 more answers

All of the following qualifications are mandatory for apprenticeships sponsored by the National Electrical Contractors Associati

weeeeeb [17]

All of the above ....

3 0

3 years ago

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Scott Bestor is an accountant for Westfield Company. Early this year, Scott made a highly favorable projection of sales and prof

Yuki888 [10]

Answer a

The stakeholder in this situation arer as follows =>

1. Scott

2. Managemnet of a Company

3. The Financial Community.

Answer b

Ethical Issues are ;

Loyalty of Scott towards Company and its management.

He should excercise due vigilence while making projections for sales.

Answer c

Possible Actions are

1. Ignore the matter

2. Inform then Boss or Management.

3. Inform the boss and follow the standard procedure

I would have told the management of the error I made if I were in his place, showing my integrity and loyalty to the company without realizing that my integrity might jeopardize my promotion. But being ethical and trustworthy will also benefit me in the long run.

3 0

2 years ago

Read 2 more answers

You have been asked to estimate the market value of an apartment complex that is producing annual net operating income of $44,50

s2008m [1.1K]

Answer: indicated value of the subject property using direct capitaliation is = $390,351= $390,000

Explanation:The abstracted going-in capitalization rates from the four properties will be calculated using

The going-in cap rate which is first-year net operating income (NOI) divided by the initial investment or purchase price

For Comparable 1: 55,000/ 500,000= 0.110

Comparable 2: 50,400/420,000= 0.120

Comparable 3: 53,400/ 475,000=0.112

Comparable 4: 69,000/600,000= 0.115

Calculate the Simple Ave. we have 0.110+0.120+0.112+0.115/4= 0.114

The simple average of the four comparable cap rates is 0.114. Therefore the indicated value of the subject property is $390, 351 gotten from

($44,500 / 0.114) = $390,351= $390,000

8 0

3 years ago