Answer:
$2.4 million
Explanation:
The total assets of the firm are funded by both debt and equity,hence, the total assets is the same as total equity plus total debt based on the accounting equation formula below:
total assets=equity+debt
tota assets=$4 million
equity=unknown
debt can be derived using the debt ratio as shown thus:
debt ratio=debt/total assets
debt ratio=40%
debt=unknown
total assets=$4 million
40%=debt/$ 4 million
debt=40%*$4 million
debt=$1.6 million
$4 million=equity+$1.6 million
equity=$4 million-$1.6 million
equity =$2.4 million
Answer:
"He pulled the stick out, just now, because it was hurting him."
Explanation:
An impaled object may be providing a tamponade effect, and removal can precipitate sudden hemodynamic decompensation. Additional history including a more definitive description of the blood loss, depth of penetration, and medical history should be obtained. Other information, such as the dirt on the stick or history of diabetes, is important in the overall treatment plan, but can be addressed later.
Answer and Explanation:
The journal entries are shown below:
Account Receivable $409,500
To Sales Revenue $367,000
To Unearned Service Revenue $42,500
(Being account receivable is recorded)
Cost of Goods Sold $310,000
To Merchandised Inventory $310,000
(Being cost of goods sold is recorded)
These two journal entries are to be recorded
Answer:
The circular flow model shows the interaction between two groups of economic decision-makers―households and businesses―and two types of economic markets―the market for resources and the market for goods and services.
