Answer:
$48,000
Explanation:
Given that,
Ending owner's equity = $70,000
Beginning owner's equity = $45,000
Owner's withdrawals = $23,000
There were no new capital contributions during the year.
Net income (loss):
= Ending owner's equity - Beginning owner's equity + Owner's withdrawals
= $ 70,000 - $ 45,000 + $ 23,000
= $48,000
Therefore, the net income for the year is $48,000.
Answer:
Yes, these facts are valid against Hannah which comes under Ratification Doctrine.
Explanation:
Here in the question its given that Hannah had allowed her friend to lend her computer for a one week period which was during her thanks giving break.
During those times Carol sold that laptop to a friend which was one of them in their class without asking hannah about this.
Now when after the break hannah and carol both return then carol told her that she had sold her laptop because she was getting an amount from the buyer which was too good to pass up so shesold it that moment.
Now when she gave that money to Hannah she instead of scolding her thanked her and her expression was seeming to be like she had done an awsome job for her.
So, based on the facts the contract was valid because it came under Ratification Doctrine.
Answer:
November 6th is the last date to exercise the rights.
Explanation:
The shareholders have right to sell the rights to other shareholder, for which the shareholders need to exercise the rights before the right issue. If the shareholders doesn't makes any exercise of right issue before date then he is not entitled to rights anymore. The last date is the date on which the payment is made.
Answer: 0
Explanation:
Firstly, we will calculate the nominal value in 2015 which will be:
= $500 x 1 million
= $500 million
The nominal value in 2016 will be:
= $1000 x 1 million
= $1 billion
Real GDP will be the price of the base year multiplied by the quantity of the current year which will be:
= $500 million x 1 million sets
= $500 million
Therefore, the increase in real GDP is zero.
I think the best would be C ensure timely payments of taxes
