Answer:
The owner's equity amounts to $1,040,000
Explanation:
The formula to compute the owner's equity is as:
Owner's equity = Assets - Liabilities
Where
Assets = Land + Machinery + Cash
= $1,500,000 + $30,000 + $10,000
= $1,500,000 + $40,000
= $1,540,000
Liabilities = Loan
= $500,000
Putting the values above in the formula:
= $1,540,000 - $500,000
= $1,040,000
Answer:
business plan
Explanation:
A<u> business plan</u> is a written document that details the business idea, the target market and the business's competitive advantage, financial resources available for the business, and the qualification of the management.
Answer:
<em>c. evaluative criteria
</em>
Explanation:
Evaluative criteria are <em>when a consumer chooses a different product because of factors like value, cost, and functionality from the one they initially had in mind. </em>
It could take a little while for certain consumers to study and explore different goods before they purchase.
While some, just before they purchase, can make the decision automatically.
Answer:
3. $600
Explanation:
The computation of the amount is shown below:
= Beginning balance of supplies + purchase made - supplies on hand
= $200 + $800 - $400
= $600
The year end increase in toy making supplies expense is $600
The journal entry would be
Supplies expense A/c Dr $600
To supplies A/c $600
(Being supplies account is adjusted)
