Answer:
The retained earnings statement showed a closing retained earnings of $226,120.00 as at 2017 year end.
Explanation:
In arriving at the closing retained earnings , I treated prior items retrospectively- that is as if the impact of such items have been in the accounts from day one,less the tax effect of all items involved.
For instance ,I deducted the understatement of depreciation in 2015 less of tax impact of 40%
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Answer:
$37,000
Explanation:
Working capital indicates the difference between a company's current assets and its current liabilities.
Current assets include such as cash at hand, bank balances, cash equivalents, and inventories. Current liabilities are accounts payable, bills, and short term debts.
in this case,
Current assets include
Inventory $50,000
Cash at Bank $ 5,000
prepaid rent <u> $5,000</u>
Total current assets <u>$60,000</u>
current liabilities
Notes Payable $20,000
tax payable <u> $3,000</u>
Total current liabilities <u> $23,000</u>
Working capital
= $60,000 - $23,000
= $37,000
Answer:
2,000
Explanation:
On average, a person who have a full time job works will work approximately 2,000 hours each year reason been that we have 5 working days in a week and standard working hours in a weeks is 40 hours (5days×8hours daily) which means 8 hours daily , secondly we have 52 weeks in a year, now assuming that person takes 2 weeks off each year for his or her vacation we would have 50 weeks left (52 weeks-2 weeks vacation) which means that the person would be working 50 weeks of the year multiply by 40 hours a week which will give us a total of 2,000 hours each year.
40 work hours weekly× 50 weeks yearly
=2,000 hours of work each year
Therefore on average, a person with a full time job works approximately 2,000 hours each year.
Answer:
Organizations refers to demographics
Explanation:
Answer:
mislaid property
Explanation:
Based on the information provided within the question it can be said that the guitar represents mislaid property. This term refers to something that was left in a specific place with the intention of retrieving it later but then forgotten. Which is exactly what happened with the guitar, as Richard left it in the hotel for safe keeping but forgot to take it when he left the hotel for good.
