Business, 09.04.2021 21:50 strongl3219
Let’s assume that you run a manufacturing business in which you have personally invested $180,000. Your business owns a building worth $150,000. The office furniture and computers that you own amount to $70,000 and $30,000, respectively. You currently have an inventory worth $50,000 in the warehouse. While you have cash-in-hand of $18,000, your customers owe you $12,000 for the goods you have sold them on credit. You still have to pay off a bank loan worth $100,000, which you acquired a few months back by mortgaging your property. Finally, you owe $30,000 to your vendors because you bought raw materials on credit. During the latest accounting period, your business made a net profit of $20,000. Using the data given above, prepare your business’s balance sheet.
Answers: 2
Business, 22.06.2019 19:00, jediDR
Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.
Answers: 2
Business, 22.06.2019 22:00, ethanw8973
Which of the following is a function performed by market prices? a. market prices communicate information to buyers and sellers. b. market prices coordinate the decisions of buyers and sellers. c. market prices motivate entrepreneurs to produce those products that are currently most desired relative to their costs of production. d. all of the above are functions performed by market prices.
Answers: 2
Let’s assume that you run a manufacturing business in which you have personally invested $180,000. Y...
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