Answer: $85,000
Explanation:
Drawings are debited/deducted from the Equity account to reflect that the owner's holdings in the business has reduced.
Profit is added to the Equity account in the form of Retained Earnings.
The closing Balance on Equity is;
Closing Balance = Opening Balance + Profit - Drawings
Profit = Closing Balance - Opening Balance + Drawings
Profit = 175,000 - 120,000 + 30,000
Profit = $85,000
Answer: Option A
Explanation: The basic organisational structure and several different characteristics prevailing in a business environment together constitutes a market structure. In an oligopolistic there are very few large firms which dominate the market, for example - auto industry.
As firms in the oligopolistic market are very high this results in high concentration in the market. Each firm in this market structure operates in so large scale that actions of one affects the operations of others.
Usually the capital need in such industries is too large making it difficult to entry also the need for several licenses acts as barriers to entry but there is no such thing like NO ENTRY in such industries.
Answer:
Advantages of a corporation include limited liability for its shareholders, a perpetual existence and ease of transferring ownership interests
Explanation:
https://www.justia.com/business-formation/docs/corporation-advantages-disadvantages/
Micky can receive a total deduction of an IRA contribution.
Individual Retirement Accounts (IRA) offer tax advantages for retirement financial savings. You may contribute up to the most amount allowed by the internal revenue carrier each year. There are several forms of IRAs available: conventional IRA. Contributions commonly are tax-deductible.
An individual Retirement Account (IRA) is a tax-advantaged funding account designed that will help you keep toward retirement. IRAs are one of the simplest ways to keep and make investments for destiny. It allows your cash to grow on a tax-deferred or tax-free foundation, depending on the kind of account.
Few mutual funds have minimums of $1,000 or more, so you need to account for that as you choose your investments. The IRS doesn't require a minimum quantity to open an IRA. However, a few providers require account minimums, so if you've only been given a small amount to invest, discover a provider with a low or $0 minimum.
Learn more about Individual Retirement Accounts here brainly.com/question/1637877
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Answer:
$209.38 and $83.67
Explanation:
The computation is shown below:
The price of the stock 7 years from today is
= Next year dividend ÷ (required rate of return - growth rate)
= $16.75 ÷ (14% - 6%)
= $16.75 ÷ 8%
= $209.38
Now the current share price is
= Price of the stock ÷ (1 + required rate of return)^time period
= $209.38 ÷ (1 + 0.14)^7
= $209.38 ÷ 1.14^7
= $83.67