Dante listed his assets and liabilities on a personal balance sheet. Dante’s Balance Sheet (August 2013)
Assets
Liabilities
cash
$900
credit card
$4,000
investments
$1,100
student loan
$1,000
house
$150,000
mortgage
$100,000
car
$8,000
car loan
$5,000
Total

Total

Which statement is true about the value of Dante’s assets and liabilities?
He has $50,000 more in assets than in liabilities.
He has $50,000 more in liabilities than in assets.
He has $110,000 more in liabilities than in assets.
He has $160,000 more in assets than in liabilities

The owners of backstreets italian restaurant are considering starting a delivery service forpizza and their other italian dishes in the small college town where they are located. theycan purchase a used delivery van and have it painted with their name and logo for $21,500.they can hire part-time drivers who will work in the evenings from 5 p. m. to 10 p. m. for$8 per hour. the drivers are mostly college students who study at the restaurant when theyare not making deliveries. during the day, there are so few deliveries that the regular employeescan handle them. the owners estimate that the van will last 5 years (365 days per year)before it has to be replaced and that each delivery will cost about $1.35 in gas and othermaintenance costs (including tires, oil, scheduled service, they also estimate that onaverage each delivery order will cost $15 for direct labor and ingredients to prepare andpackage, and will generate $34 in revenue. a. how many delivery orders must backstreets make each month in order for the service to break even? b. the owners believe that if they have approximately the break-even number of deliveries during the week, they will at least double that number on fridays, saturdays, and sundays. if that’s the case, how much profit will they make, at a minimum, from their delivery service each month (4 weeks per month)?

Select the correct answer. joshua runs a large manufacturing business that is listed on the stock exchange. his company made good profits in the previous financial year. he now plans to reward his shareholders with handsome dividends. under which category of activities in the cash flow statement would the company’s accountants place this outflow of cash? a. investing activities b. operating activities c. financing activities d. non-operating activities

1. is the act of declaring a drivers license void and terminated when it is determined that the license was issued through error or fraud.