Great question!
Fiat money deries it's value from law or regulation. However representative money derives its value either from a claim on a commodity (gold for example).
However sometimes representative money means it has value higher than what it is made of, ie if you melt it down it is worth less than before it is melted down. In this sense fiat money is a type of representative money
Answer:
<u>Martha’s Quilt Shop’s gross margin for March is = $50000.
</u>
Explanation:
Gross margin = Sales revenues- Cost of goods sold
= ($500 per unit*250 units)- ($300 per unit*250 units)
= $125000-$75000
= $50000
Answer:
$252,900
Explanation:
Stockholders' equity refers to the net assets of a business. In other words, the value of the assets after deducting all liabilities. It is calculated by subtracting total liabilities from total assets.
For Casello,
Total assets = current assets plus fixed assets .
i.e., 437,200+$552,800= $990,000
Total liabilities = current liabilities plus long-term debt
i.e., $318,500 + $418,600= $737,100
Stockholder equity = $990,000 - $737,100
=$252,900
Answer:
c. debit to the investment account for $12,500.
Explanation:
The computation is shown below:
= Net loss reported × owning percentage
= $50,000 × 25%
= $12,500
Simply we multiplied the reported net loss and its owning percentage so that the accurate loss amount can come
Since it is a net loss, so it would be debited to the investment account for $12,500
Hence, all other options are wrong except option c.
