Answer:
d. debit Accounts Receivable; credit Cash
Explanation:
The cash has been credited with $695 instead of $965 which means that $270 has been credited short. Same way, the liabilities have been debited by $270 short. So, we will have to reverse the entry ie. debit Accounts Receivable; credit Cash
Answer:
10.23%
Explanation:
Calculation for What profit margin would the firm need in order to achieve the 15% ROE, holding everything else constant
First step is to calculate the Net income
.15 = Net income/ 375,000
Net income=.15($375,000)
Net income= $56,250
Now let calculate profit margin using this formula
Profit margin = Net Income/Sales
Let plug in the formula
Profit margin= $56,250/$550,000
Profit margin= 0.1023*100
Profit margin=10.23%
Therefore the profit margin that the firm would need in order to achieve the 15% ROE, holding everything else constant is 10.23%
Answer: Carrie's Balance Sheet (January 1, 2021)
Explanation:
The heading of the balance sheet should include as much as possible, the month and year of the balance sheet. It can also include the exact date.
This is done so that the Balance sheet can have a particular reference date such that stakeholders who use the balance sheet can know relate the financial performance of the company as of a certain day which would enable for better analysis.
Answer:
Innovation, job creation, financial independence and financial success
Explanation:
The United State of America is a capitalist state where individuals control the factors of production. Government,s participation is reduced to the minimal which might only be regulation.
Small businesses in America grows to become big companies as time goes on. They contribute in no small way to the economy of the united state in the following ways: innovation, job creation, financial independence and financial success.
Sure, here is my possible correct answer:
1. 38.64 - 34.50 = 4.14
2. 4.14 x 600 = 2484
So, Mitchell would earn $2484 in (gross) profit.
I hope it helped you!
