The total of the assets in a balance sheet is equal to the summation of the owners' equity capital and the total liabilities of the firm.
<h3>What is a balance sheet?</h3>
Balance sheet is the financial statement of an organization that gives the details about the financial position of the company at the end of the financial period.
In the above case, the total of the assets is $50000 and the total of the equities and liabilities tallies the amount of assets. An image for the same has been attached for better reference.
Thus, the equation of the balance sheet holds true in the case of ABC Rentals.
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Answer:
TR decreases if Demand is Elastic, TR increases if Demand is Inelastic
Explanation:
Price Elasticity of Demand is the responsive change in price, due to change in price. Elastic demand means demand responds more to price change, Inelastic demand means demand responds less to price change. Total Revenue is the total receipt value from sales = Price x Quantity
- If demand is elastic : price & total revenue are inversely related - price increase, demand decrease & price decrease, demand increase.
- If demand is inelastic : price & total revenue are directly related - price increase, demand increase & price decrease, demand increase
So, If a company increases its sale price per unit of a product :
- Total Revenue would increase as a result of price rise, if demand is Inelastic
- Total Revenue would decrease as a result of price rise, if demand is Elastic
Answer:
4.86%
Explanation:
Given that,
First-class postage for a 1-ounce envelope = 4 cents
On August 1, 2007
A first-class stamp for the same envelope cost = 41 cents
Period, n = 49 years
i = 1.0486 - 1
= 0.0486 or 4.86%
Therefore, the interest rate is 4.86%.
Answer:
The common-size percentage of the equity is c. 66.87 percent
Explanation:
Total asset of the firm = Inventory + Cash + Net fixed assets + Accounts receivable = $46,500 + $1,250 + $318,650 + $16,600 = $383,000
Liabilities = Accounts payable + Long-term debt = $17,400 + $109,500 = $126,900
Basing on Accounting Equation Formula
:
Total Assets = Liabilities + Owner’s Equity
Owner’s Equity = Total Assets - Liabilities = $383,000 - $126,900 = $256,100
The common-size percentage of the equity = ($256,100/$383,000) x 100% = 66.87%
Answer:
C, the board of directors of IFS
Explanation:
The board of the IFS is ultimately responsible for the corporate climate that resulted in the use of substandard ingredients in the meals meant for the troops.
This is because the directors are the ones at the helm of affairs and they decide what happens in the IFS. This means that at least one of the directors is aware of the use of substandard ingredients . It can be said that if one knows, all other know. This phrase convieniently indicts the directors.
Cheers.
