Answer:
$60,000
Explanation:
Given that,
Accounts payable = $15,000
Buildings = 80,000
Cash = 10,500
Accounts receivable = 9,500
Salaries payable = 4,500
Retained earnings = 47,500
Supplies = 40,000
Notes payable (due in 18 months) = 35,000
Interest payable = 3,000
Common stock = 35,000
Amount of current assets:
= Cash + Accounts receivable + Supplies
= $10,500 + $9,500 + $40,000
= $60,000
Therefore, the amount of current assets is $60,000.
<span>Women were able to find more employment on the in America during WW2, as many jobs typically staffed by men were being vacated due to the increased need for manpower in the military.</span>
Answer:
(B) Increase both assets and equity by $180
Explanation:
The transaction analysis model tells us that:
Assets = Liabilities + Owner's Equity
Owner's equity = Contributed Capital + Retained Earnings
Retained Earnings = Net Income − Dividends
and
Net Income = Income − Expenses
The expanded accounting equation is obtain if all substitutions are made:
Asset = Liabilities + Contributed Capital + Income – Expenses − Dividends
In the Global Cleaning Service`s case:
Assets are increased either because the service is collected or is an account receivable. As the service provided is a revenue (income) is part of the Owner's Equity that also increase. Both, Asset and Owner's Equity, increase in 180.
C business mileage during the year to claim the standard mileage rate for the business
