Answer:
The amount of loss should Jacob Inc. record on December 31, 2019 is $38,000
Explanation:
Truck Value = $48,000
Annual depreciation = ( $48,000 - $8,000) / 8 = $40,000 / 8= $5,000
First year (2018) = $40,000 - $5,000 = $35,000
Second year (2019) = $35,000 - $5,000 = $30,000
Loss = Truck Value (actual) + estimated residual value= $30,000 + $8,000 = $38,000
Answer:
Dividends - <em>Statement of Changes in Retained Earning</em>
Dividends are payments to shareholders from a company's net income. They are derived from the Statement of Changes in Retained Earning because this is where Net Income is sent to. After they are deducted from Retained Earnings, the Earnings form part of Equity.
Differed Revenue - <em>Balance Sheet</em>
Differed Revenue refers to money that was received from a customer or client for goods and/or services that have not yet been delivered. The business will treat them as a liability until they are delivered so they will go under Current Liabilities in the Balance Sheet assuming they are to be fulfilled in 12 months or less which is usually the case.
Service Revenue - <em>Income Statement</em>
These are revenue that the business earns for providing a service when their main source of revenue is by selling goods. It is listed in the Income Statement just after Revenue and is added to Revenue to get Total Revenue.
Answer:
The correct word that fills the gap is: sales.
Explanation:
Initially, the Marketing approach was productive, towards production: Marketing aims to achieve greater efficiency in the financial and productive areas of the company.
Subsequently, the emphasis was on the product, but the growing competition and the difficulty of selling production, changed the focus towards sales, the goal was to sell above all and reduce inventories.
Subsequently, the focus is increasingly shifted to the consumer: consumers do not acquire production plants, products or services, buy benefits and utilities, the "expectations of meeting their different needs." The current approach is market-oriented, where the consumer and their needs remain the key, and therefore the competition must also be analyzed, which tries to satisfy the same customer as us. Likewise, the environment that conditions this process and any other critical factor must also be analyzed.
Answer:
A. Stockholders equity at the end is $493,000.
B. Closing total assets is $865,000.
C. Closing liability is $410,000.
Explanation:
A. Closing total assets:
= Opening assets + increase in assets
= $845,000 + $177,000
= $1,022,000
Closing liability:
= Opening liability - Decrease in liability
= $600,000 - $71,000
= $529,000
Closing equity:
= Closing assets - Closing liability
= $1,022,000 - $529,000
= $493,000
B. Opening equity:
= Opening assets - Opening liability
= $845,000 - $600,000
= $245,000
Closing assets:
= Opening assets + increase in liability - Decrease in equity
= $845,000 + $92,000 - $72,000
= $865,000
C. Closing liability:
= Opening liability - decrease in assets - increase in equity
= $600,000 - $90,000 - $100,000
= $410,000
Yes and no, if you are of United States yes, if not No
