Answer:
$2.4 million
Explanation:
The total assets of the firm are funded by both debt and equity,hence, the total assets is the same as total equity plus total debt based on the accounting equation formula below:
total assets=equity+debt
tota assets=$4 million
equity=unknown
debt can be derived using the debt ratio as shown thus:
debt ratio=debt/total assets
debt ratio=40%
debt=unknown
total assets=$4 million
40%=debt/$ 4 million
debt=40%*$4 million
debt=$1.6 million
$4 million=equity+$1.6 million
equity=$4 million-$1.6 million
equity =$2.4 million
Answer:
$49,700
Explanation:
Opening balance for accounts receivable: $52,000
Add services provided on account : $12,500
total due from customers : $64,500
less payment received : $14,800
Closing balance : $49,700
The amount received as prepayment is not a receivable but a liability. Receivable refers to money owed to a business by customers for goods or services delivered by payment has not been made.
Answer: All of the above
Explanation:
To determine a fair and reasonable price in a municipal agency transaction, the things to be considered are:
• Availability of the security
• Expenses associated with affecting the transaction
• Value of services rendered by the municipal broker
• Value of any other compensation received in connection with this transaction.
These are the four main factors that'll have to be considered before a fair price is determined.
Therefore, all the options are correct.
If your BAL is at .04, you can expect a 13% drop in complex performance compared to the sober level.
Answer:
due to a lack of space, I prepared the 10 column worksheet on an excel spreadsheet
Explanation:
Prepaid Rent $1,000
Services Revenue $55,600
Wages Expense $5,000
a) Dr Rent expense 200
Cr Prepaid rent 200
b) Dr Accounts receivable 900
Cr Service revenue 900
c) Dr Wages expense 700
Cr Wages payable 700
