Answer:
$106,500
Explanation:
The computation of the total stockholder equity is shown below:
Total assets = Total liabilities + stockholder equity
where,
Total assets = Current assets + fixed assets
= $741,000 + $592,000
= $1,333,000
And, the total liabilities is
= Current liabilities + long term debt
= $533,500 + $693,000
= $1,226,500
So, the total stockholder equity is
= $1,333,000 - $1,226,500
= $106,500
Answer: No. The owner cannot get the card back because of the minor’s lack of capacity
Explanation:
From the information given, we are told that a minor bought a baseball card from a baseball card store for $12, even though the price was $1,200.
It should be noted that the owner cannot get the card back based on the minor’s lack of capacity. In this case, the idea is to protect the minor, therefore the minor who bought the baseball card is the one that can disaffirm or cancel the contract. In this case, the adults are bound to the contract.
The baseball card will only be gotten if the minor wishes to give it back.
Answer: False
Explanation:
Shoes and socks are complementary goods. A complementary good is a good that the demand for the good increases when there is reduction in price of its complement. Complementary goods have a negative cross elasticity of demand i.e. the demand for the good rises when the price of the other good decreases. Assuming "A" is a complement to "B" , a rise in the price of "A" will have a negative effect on the demand for "B".
A reduction in the price of A leads to a positive outcome on the demand for B resulting in an outward shift of its demand curve. The quantity demanded of one good has a direct relationship on the quantity demanded of the other good as they are linked together. When the price of shoes increases, less of socks will be demanded and vice versa.
Answer: a person who organizes and operates a business or businesses taking on greater than normal financial risk to do so
Answer: Please see answer in explanation column
Explanation:
a) Due date = April 22+90 days = July 21
b) Maturity value = 96,000+(96,000*6%*90/360) = $97,440
c1) Journal entry for receipt of note by Bork Furniture
journal Debit Credit
Notes receivable $96,000
Account receivable $96,000
C2) Journal entry to record receipt of payment at maturity
journal Debit Credit
Cash $97,440
Notes receivable $96,000
Interest revenue $1,440 (97,440-96,000)
