Answer:
The net income for Year 2 is $ 114,482
Explanation:
Accounting Equation is used in order to calculate the closing capital figure of Year 1 and Year 2:
Assets=Liabilities + Equity.
we can rearrange the formula as Assets-Liabilities = Equity
- So in Year 1. the closing capital is: $910,049-$274,794 = $635,255.
- In Year 2. the closing capital is : $988,160-$234,792 = $ 753,368
Now we can construct an equation to drive net income of year to by means of balancing figure:
Opening capital year 1: $635,255
+ Additional Capital in Year 2: $28,651
-Drawing in year 2: $(25,020)
Net Income(Balancing figure) <u>$114,482</u>
Closing Capital Year 2: $ 753,368
Answer:
Paul Copan
Explanation:
Dr. Robertson McQuilkin can be considered a very biblical man, and as such, would always favor socialism more than free market capitalism. His phrase "Capitalism is for freedom, socialism is for equality" and the fact that he believed in a strict following of the Bible, you make him a more socialist person.
Dr. Paul Copan is also a very religious man, but his views are less extreme than Dr. McQuilkin's. He is more pragmatic and argues in favor of religion from a more neutral or agnostic point of view. He even argues that religious beliefs and economics are not mutually exclusive.
Does not reflect the marketing condition in the new products projected market area is the greatest danger to McDonald's is in choosing a test-site city.
<h3>What market area means?</h3>
A market area is a surface that displays the demand or supply for a specific item. It covers the locations where a factory's products are sent, while it is the tributary area from which a retail store pulls its clients.
Different areas of marketing are Digital marketing, Content marketing, Social media marketing, Visual marketing, Search engine marketing, Influencer marketing.
Thus, it does not reflect the condition of new project.
For more details about market area, click here
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Answer:
a. revenue (R), affecting owner's investment (I)
b. not affecting owner's equity (NOE)
c. expense (E) and affecting owner's investment (I)
Explanation:
Revenues and Expense form Profits which are included in the statement of changes in equity through the Retained Income line item, thus these two also affect owners investment.
