Answer:
Five ways a swot analysis can help in strategic planing:
1. It establishes the most relevant external threats that the company faces in the market.
2. It establishes the most relevant external opportunities that the company has in the market.
3. It establishes the most important internal strenghts that the company can take advantage of.
4. It establishes the most important internal weaknesses that the company should be wary of.
5. It matches these four elements, two at a time, in order to guide the strategic planning process.
Which is the best answer choice for the question? To be deductible as the cost of special work clothing or uniforms: a. The clothing must not be suitable for everyday use and must be required as a condition of the job. b. The clothing must be required as a condition of the job, but can also be suitable for everyday use. c. The clothing need not be required as a condition of the job, but must not be suitable for everyday use. d. Only the cost of the clothing is included; upkeep is not deductible.
Answer:
a. The clothing must not be suitable for everyday use and must be required as a condition of the job.
Explanation:
For the cost of special work clothes or uniforms to be deductible by the IRS, there must be a number of requirements, it is necessary that work clothes are required as a working condition and that the clothes are used only in the work environment, and not for the employee's personal use.
It is also necessary that the uniforms guarantee the conditions in accordance with the function performed, adding protection instruments when necessary for the health and safety of the employee, in addition, the costs with work clothes can be deductible when they present company logos by example, attesting that such clothing is not for personal use outside the workplace.
Yard Designs (YD) experienced the following events in Year 1, its first year of operation:
a. On October 1, Year 1, YD collected $26,400 for consulting services it agreed to provide during the next 12 months.
b. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1.
Required
Based on this information alone,
a. Record the events under an accounting equation.
b. Prepare an income statement, balance sheet, and statement of cash flows for the 2016 accounting period.
c. Ignoring all other future events, what is the amount of service revenue that would be recognized in 2017?
Answer:
a)
Assets Liabilities Equity Revenue Expenses Net income
26,400 26,400 0 0 0 0
6,600 -6,600 6,000 6,600 0 6,600
b) income statement
Revenues $6,600
Expenses $0
Net income $6,600
balance sheet
Assets
Cash $26,400
Total assets $26,400
Liabilities
Deferred revenue $19,800
Total liabilities $19,800
Equity
Retained earnings $6,600
Total equity $6,600
Total liabilities + equity $26,400
Statement of cash flows
Cash flows from operating activities:
Net income $6,600
Adjustments to net income
Increase in liabilities $19,800
Total cash flows from operating activities $26,400
Cash flows from investing activities $0
Cash flows from financing activities $0
Net increase in cash $26,400
Initial cash balance $0
Ending cash balance $26,400
c) revenue recognized during year 2 = $19,800
Your résumé/CV is an essential component of your professional portfolio. How is it used to convey your professional identity prior to the job interview?
Answer:
The interpretation including its respondent is characterized throughout the explanation section following the table.
Explanation:
Anyone's Resume might become having a great individuality once you have been currently going to interview. It characterizes someone's professional qualification, affords an appearance of each other something to the potential future interview process, includes information of someone's strong points, susceptibility as well as relevant qualifications, but instead provides information of your interest and even some knowledge and insight into clients style of writing public persona.The above, benefit of the entire, includes an explanation but instead encourages others to check whether or not you meet their expectations or even just their advocacy group. Descriptions seem to be about yourself, your qualifications, visibility, and personal traits.Suppose you win a small lottery and have the choice of two ways to be paid: You can accept the money in a lump sum or in a series of payments over time. If you pick the lump sum payout, you get $3,000 today. If you pick the payments over time payout, you get three payments: $1,000 today, $1,000 one year from today, and $1,000 two years from today.
At an interest rate of 6% per year, the winner would be better off accepting the ________ , since it has the greater present value.
At an interest rate of 9% per year, the winner would be better off accepting ________ , since it has the greater present value.
Years after you win the lottery, a friend in another country calls to ask your advice. By wild coincidence, she has just won another lottery with the same payout schemes. She must make a quick decision about whether to collect her money under the lump sum or the payments over time. What is the best advice to give your friend?
a. The lump sum is always better.
b. The payments over time are always better.
c. It will depend on the interest rate; advise her to get a calculator.
d. None of these answers is good advice.
Answer:
Part 1:
At an interest rate of 6% per year, the winner would be better off accepting the lump sum, since it has the greater present value.
At an interest rate of 9% per year, the winner would be better off accepting lump sum, since it has the greater
Part 2:
a. The lump sum is always better.
Explanation:
This question can be answered in two parts as follows:
Part 1: Decision to accept lump sum or series of payment
This can be deteermined using the present values of both forms of payments.
Present value of the lump sum = $3,000
Present values of the series of payment at 6% and 9%
Since the amount to receive is an equal amount of $1,000 annually, we use the formula for calculating the present value of an ordinary annuity as follows:
PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)
Where;
PV = Present value =?
P = Annual receipt payment = $1,000
r = Interest rate = as given
n = number of years = 3
Substitute the values into equation (1), we have:
PV of series of payment at 6% annual interest = $1,000 * ((1 - (1 / (1 + 6%))^3) / 6%) = $2,673.01
PV of series of payment at 9% annual interest = $1,000 * ((1 - (1 / (1 + 9%))^3) / 9%) = $2,531.29
Therefore, we have:
At an interest rate of 6% per year, the winner would be better off accepting the lump sum, since it has the greater present value.
At an interest rate of 9% per year, the winner would be better off accepting lump sum, since it has the greater
Part 2: Advising a friend
a. The lump sum is always better.
This is because the idea of a present value is that the worth of an amount of money today is more than the worth of the same amount in the future.
From part 1 above, future series of payment have to bee discouted at 6% and 9% and the present values are less than the lump sum using both interest rates. In addition, the higher the interest rate, the lower the present value.
Therefore, the lump sum is always better.
compare, contrast, and discuss the connections between the ever-changing global business environment and the changes in the dynamic and diverse workplace, including the challenges of global economics and social responsibility.
Explanation:
Globalization and new technologies have impacted social and economic relations around the world. The distances between countries have become shorter as a result of internet communication, in addition to the transport and flow of information, which occurs instantly in everyone today.
This new scenario enabled the expansion of businesses in search of profitability and cost reduction, companies opened new branches in different countries and diversified their work environment, making it multicultural, with workers of different cultures and values. This environment allows a very positive exchange for organizations, which achieve innovation and creativity through people with different worldviews.
Globalization has also impacted the way companies are perceived, they are no longer just profitable entities to become promoters of social and environmental responsibility, due to the way that society changes its consumption and interaction paradigms and encourages companies to adapt to continue meeting society's demand. The organizational image strengthened through social programs and reduction of environmental impact provides long-term competitive and strategic advantages for companies, such as attracting investors, greater value for stakeholders, continuous improvement, etc.
8. How does working with other cultures affect stakeholders?
Answer:
In his recent Harvard Business Review blog post, Peter Bregman describes a scenario where a hopeful employee missed out on a promotion in part because he didn’t say thank you. I can only begin to imagine the employee’s disappointment over what appears to have been such a trivial oversight.
This example highlights the importance of having an appreciation for the corporate culture and the national culture of the organization and the stakeholders with which you are working. This appreciation of culture—including national culture—is of paramount importance on projects too.
Many projects today span organizations, countries, and time zones. Business analysts and project team members will be interacting with multiple stakeholders, potentially distributed all over the globe.
The reality—and this certainly won’t come as a surprise—is that different cultures are different. They have different values, norms, rituals, and expectations. This complex stakeholder landscape raises the risk of inadvertent misunderstandings, conflict, and culture clash.
When working with stakeholders to understand their needs and requirements, it’s essential to build rapport—and this requires empathy and understanding of differences in cultures.
One of the challenges is that while it’s easy to observe the culture of others, it’s often difficult to look introspectively and observe our own culture. I spent most of my childhood years in Britain, but I spent one year in the US. I remember subtle differences in language, as well as significant differences in culture. I remember my American friends were far more forthright and direct in their communication; we Brits tend to hide behind politeness and indirectness.
Neither is inherently better or worse—just different. However, the important point is that we tend to observe others through our own internalized cultural lens.
An important way to avoid culture clashes on projects is to focus on developing self awareness of culture—that is, to understand our own cultural identity and norms.
Professor Geert Hofstede has written and researched on cultural differences, and the Hofstede Centre website provides a useful reference point for understanding how your native culture compares with others, as well as how others might perceive your culture. Hofstede proposes a number of cultural dimensions on which cultures can be compared.
This is extremely useful to consider for projects that span countries and cultures—as different cultures have different attitudes toward authority, for example. This might affect how you elicit requirements. In a highly hierarchical culture, lower-ranking employees might not feel empowered to speak openly in front of their supervisors, and you may need to plan for this.
Whilst Hofstede’s research is extremely useful, it’s also beneficial to understand specific cultural norms and practices. It is well worth reading cultural guides so you can build an understanding of any specific cultural practices that might be important to your stakeholders. This kind of knowledge will help you avoid inadvertent cultural slip-ups.
For projects that span countries and nationalities, culture matters. Cultural research and self-awareness pay dividends.
Explanation:
...........
Your forecast shows $500,000 annually in sales for each of the next 3 years. If your second and third year predictions have failed to incorporate the 3% expected annual inflation, how far off in total dollar sales is your 3-year forecast
Answer:
$45,450
Explanation:
your first year sales should be $500,000
your second year sales should be $500,000 x 1.03 = $515,000
your third year sales should be $515,000 x 1.03 = $530,450
total sales = $1,545,450
since you previously budgeted $1,500,000 in sales for the 3 years, you were off by $45,450
How are technology and technical profession related ? use example to write answer
Answer:
Technician and technologist are two different terms. However, these two terms are interrelated. ... A technician has a good knowledge of the general principles of the field he is in, whereas, a technologist is a person who is completely aware of various technologies. A technician works under a technologist.
Answer:
techonology is a term wher technical profession are the jobs in which a person is technically and professionally expert . for eg:an bank network is a techonolgy but the seat for the controller of this network is technical profession.
Credits Group of answer choices decrease both assets and liabilities. decrease assets and increase liabilities. increase both assets and liabilities. increase assets and decrease liabilities.
Answer:
decrease assets and increase liabilities
Explanation:
Credits is commonly known to cause an increase in liability, equity, and revenue accounts and also lead to a decrease of/in asset and expense accounts. It is the right side of an account. Credits decrease assets and increase liabilities is a true statement of account.
How does GDP accounting record the following events? For each of them, describe how they would be computed in GDP accounts using the income method, the production method, and the expenditure method.
a. Tom purchases a brand new Volkswagen from Germany for his start up ride sharing business for $20,000. He provides ride-sharing services earning him revenues of $40,000. During the course of the year, the Volkswagen depreciates by $2,000. Tom has no other costs.
b. An army battalion is deployed to the border to repel a threatened Canadian invasion. The soldiers earn wages of $10,000 and use ammunition that the government bought for $5,000. The ammunition was produced using $2,000 of imported steel and 100 hours of work, for which the workers were paid $1,000. Hint: two things are produced in this example, what is the value added for each of them?
c. The government collects $1000 in income taxes from Pam.
d. Pam earns $4000 for working as a babysitter and pays $1000 in income taxes.
Answer:
a. Tom purchases a brand new Volkswagen from Germany for his start up ride sharing business for $20,000. He provides ride-sharing services earning him revenues of $40,000. During the course of the year, the Volkswagen depreciates by $2,000. Tom has no other costs.
GDP increases by $20,000:
It will increase $40,000 by the services provided (consumption) but will decrease $20,000 due to the imported car (negative net exports).
b. An army battalion is deployed to the border to repel a threatened Canadian invasion. The soldiers earn wages of $10,000 and use ammunition that the government bought for $5,000. The ammunition was produced using $2,000 of imported steel and 100 hours of work, for which the workers were paid $1,000. Hint: two things are produced in this example, what is the value added for each of them?
GDP increases by $13,000:
Government spending increases by $15,000.
Net imports decrease by $2,000.
c. The government collects $1000 in income taxes from Pam.
GDP doesn't change. Taxes are not included in the GDP
d. Pam earns $4000 for working as a babysitter and pays $1000 in income taxes.
GDP increases by $4,000 (consumption).
At December 31, 2017 (the end of the fiscal year), Grouper Corporation owes $1,720,000 on a note payable due January 31, 2018. If Grouper refinances the obligation by issuing a long-term note on February 20, 2018 and using the proceeds to pay off the note due January 31, how much of the $1,720,000 should be reported as a current liability at December 31, 2017
Answer:
Nil or $0
Explanation:
The entire amount of $1,720,000 should be reported as long term liability, as the both the criteria of intent and ability are met. The second note (long term note) was issued to repay the first one. It is presumed the firm did not have enough current assets to pay the first note and that the second note is made before the issue of the balance sheet. So, the amount to be reported as current liability is "nil".
Prepare the general journal entries for the following transactions. 20-a Jan. 2 Purchased land with a building on it for $750,000. The land is worth $300,000. Paid $150,000 down and signed a mortgage to be paid over 20 years. Dec. 31 Depreciation is computed using the straight-line method. The building has an estimated salvage value of $75,000 and an estimated life of 20 years. 20-b Jul. 1 The building and the land are sold for $825,000 cash. If an amount box does not require an entry, leave it blank.
Answer:
Journal Entries:
Jan. 2:
Debit Land $300,000
Debit Building $450,000
Credit Cash $150,000
Credit Mortgage $600,000
To record the purchase of land and building.
December 31:
Debit Depreciation Expense on Building $18,750
Credit Accumulated Depreciation $18,750
To record the depreciation expense for the year.
July 1:
Debit Depreciation Expense on Building $9,375
Credit Accumulated Depreciation $9,375
To record depreciation expense for six months.
Debit Cash Account $825,000
Credit Sale of Land $330,000
Credit Sale of Building $495,000
To record the sale of the land and building for cash.
Debit Sale of Land $300,000
Debit Sale of Building $450,000
Credit Land $300,000
Credit Building $450,000
To close the accounts to the sale of asset accounts.
Debit Accumulated Depreciation $28,125
Credit Sale of Building $28,125
To close the accumulated depreciation account.
Explanation:
a) Data and Calculations:
Jan. 2
Cost of purchased land with building = $750,000
Value of the land = $300,000
Value of the building = $450,000 ($750,000 - $300,000)
Ratio of land to building = 4:6
Payment made on the purchase = $150,000
Allocation of payment:
Land = $60,000 ($150,000 * 0.4)
Building = $90,000 ($150,000 * 0.6)
Mortgage signed = $600,000
Allocation of Mortgage:
Land = $240,000 ($600,000 * 0.4)
Building = $360,000 ($600,000 * 0.6)
Method of depreciation = straight-line
Salvage value of building = $75,000
Estimated life of building = 20 years
Depreciable amount of building = $375,000 ($450,000 - $75,000)
Depreciation expense per year = $18,750 ($375,000/20)
Depreciation expense for six months = $9,375 ($18,750/12 * 6)
July 1: Sale of building and land = $825,000
Allocation of sale proceeds:
Building = $495,000 ($825,000 * 0.6)
Land = $330,000 ($825,000 * 0.4)
if i work 3:30pm to 9:30pm how many hours did I work
Answer:
You worked 6 hours
Explanation:
Answer:
6 hrs
Explanation:
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Answer: skits?
Explanation:
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Sales
Purchases
20 units at $110
20 units at $120
January:
February:
May:
November:
15 units
10 units at $130
Using the weighted average inventory costing method, what is the value of the cost of goods sold on May?
$2,650
B. $2,670
C. $4,240
$1,725
Answer:
d. $1,725
Explanation:
Note: The organized question is attached below
Cost of goods available for sale as on May
=> 20 * $110 = $2,200
=> 20 * $120 = $2,400
Total cost of goods available for sale = $2,200 + $2,400 = $4,600
Weighted average cost per unit = Cost of goods available for sale / Units in inventory
Weighted average cost per unit = $4,600 / (20 + 20)
Weighted average cost per unit = $4,600 / 40
Weighted average cost per unit = $115
Cost of goods sold by using weighted average method on May = Units sold * Weighted average cost per unit = 15 * $115 = $1,725
So therefore, the value of the cost of goods sold on May is $1,725
Select the correct answer.
Democratic leaders balance leadership and respect for employees.
A. True
B. False
Answer:
True
Explanation:
4. When analyzing decisions that are made within a firm, economists typically assume that "profit maximization" is the firm’s main goal. However, a number of other goals are also possible. Choose one of the "other" possible goals and compare it to "profit maximization." Under what circumstances might the "other" goal that you described become a major focus for the firm? If you were the CEO of a large firm, what steps might you take to ensure that departments within the firm are working together toward common goals?
Answer: When employees are provided with a conducive environment they perform better than normal and with good products and services customers are satisfied hence more profit. The CEO should ensure all department work with same goal for the benefit of the organization
Explanation:
Companies tend to focus on the non-economic goals such as providing a good place for employees to work, good product and services to the customers and acts as a good citizen in the society. Achieving these goals are costly and doing so might interfere with profit maximization but in long term achieving them is beneficial to the company. When employees are provided with a conducive environment they perform better than normal and with good products and services customers are satisfied hence more profit. The CEO should ensure all department work with same goal for the benefit of the organization
Assets and liabilities at the beginning of the period were $100,000 and $60,000, respectively. Assets and liabilities at the end of the period were $175,000 and $105,000, respectively. Withdrawals by the owner during the period were $15,000 and there was no investment by the owner during the period. The income during the period was
Answer:
$45,000
Explanation:
The computation of the income during the period is shown below:
Beginning stock holder equity
= $100,000 - $60,000
= $40,000
And, the ending stockholder equity is
= $175,000 - $105,000
= $70,000
Now the net income is
As we know that
Net income = Ending balance + withdrawls - opening balance
= $70,000 + $15,000 - $40,000
= $45,000
The following items are reported on a company's balance sheet: Cash $100,000 Marketable securities 50,000 Accounts receivable (net) 60,000 Inventory 70,000 Accounts payable 140,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio fill in the blank 1 b. Quick ratio fill in the blank 2
Answer:
a. 2.00
b. 1.50
Explanation:
The Current and Quick ratios are both liquidity ratios that are used to determine the ability of a company to pay off its current liabilities with current assets.
a. Current Ratio
= Current assets / Current liabilities
= (100,000 + 50,000 + 60,000 + 70,000) / 140,000
= 2.00
b. Quick ratio
= (Current assets - Inventory) / Current liabilities
= (100,000 + 50,000 + 60,000) / 140,000
= 1.50
does anyone know how combined shipping works on eBay?
do u take the original price, for example $6.00 and $6.00 and add that buy the combined shipping given by the seller, for example $4.80? and that’ll be the total?
if I got anything wrong, correct plz - thanks!
Answer:
I have no idea because I don't shop on ebay I shop on Amazon.
Explanation:
If the consumer gets 40 utils from buying four DVDs, 45 utils from buying five DVDs and 48 utils from buying six DVDs, then the consumer's marginal utility is: Group of answer choices decreasing. constant. increasing at an increasing rate. increasing.
Answer:
decreasing
Explanation:
Since in the question it is mentioned that of the consumer buy four DVds and he gets 40 utils and if he buy more he get more utils and so on so the utility of the consumer would be decreased in the case when he consumes more
Therefore as per the given situation the first option is correct
The same is considered and relevant too
On January 2, 2020, Vaughn Manufacturing began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows:
January 2, 2020 $ 599000
September 1, 2020 1801200
December 31, 2020 1801200
March 31, 2021 1801200
September 30, 2021 1220000
Vaughn Manufacturing borrowed $3230000 on a construction loan at 10% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $13680000 in 7% bonds outstanding in 2020 and 2021.
The interest capitalized for 2020 was:
a. $159600
b. $479060
c. $478800
d. $119940
Answer:
d. $119,940
Explanation:
We must first calculate the weighted accumulated expenditures 2020:
January $599,000 x 12/12 = $599,000 September $1,801,200 x 4/12 = $600,400 December $1,801,200 x 0/12 = $0total = $1,199,400capitalizable interests = $1,199,400 x 10% (interest rate of specific construction loan) = $119,940
you will consider other interest rates only if expenses are higher than the specific construction
A Company had beginning retained earnings of $190,000, net income of $52,000, and
dividends of $52,000. The ending retained earnings is;
Answer:
$190,000
Explanation:
Retained earnings are the profits not distributed to shareholders as dividends. In a given period, retained earnings will be the difference between profits and dividends.
I.e., retained earning = profits - dividends.
Therefore, Ending retained earning can be calculated as
Beginning retained earning + profits - dividends.
In this case
retained earnings = $190,000 + $52,000 - $52,000
=$242,000 - $52,000
=$190,000
the vikings company, based in minnesota, is committed to training new employees. assuming the company uses the incremental learning curve method, what is the total labor cost for 4 jobs
Answer:
$19,500
Explanation:
The complete question is: "Each time the Company hires a new employee, it must wait for some period of time before the employee can meet production standards. New employees are paid $150 per hour. Management is unsure of the learning curve in its operation, but it knows the first job by a new employee takes 40 hours and the second and third job take 32 and 28 hours respectively. Assume all jobs to be equal in size. Assuming that the company uses the incremental learning curve method, the total labor cost for 4 units will be closest to?"
The first job takes 40 hours.
The next job takes 32 hours.
So, the total hours for first 2 jobs = 40 hours+ 32 hours= 72 hours
Average hours for first 2 jobs = 72 hours / 2 = 36 hours. Learning curve percentage = 36 hours / 40 hours = 0.9 = 90%
So, the average for 4 jobs (double of 2 jobs) shall be 36*90% = 32.40 hours. Hence, Total hours for 4 jobs = 32.40 hours * 4 = 129.60 hours ≅ 130 hours. So, the total labor cost for 4 jobs = 130 hours * $150 per hours = $19,500
Which of the following is typically not a good place to find a deal
you need to attach a picture so people can see the choices
Market & entreprenurship
are two sides of a coin
Justify by example
Answer:
The analysis for this type of situation has been presented elsewhere here.
Explanation:
The face of something like a coin would be typically referred to as one of the head, although it sometimes describes this same head of such a high profile individual, as well as the back of the tail. Throughout disciplines of diploma nearby numismatic coins, this same phrase area has been more frequently than using front, when the utilization of opposite direction has been widely spread.To connect them, click the example, and then click the department
HR
Pablo keeps track of the amount of money earned by his
company and compares it to the amount spent.
Customer service
Fatima is responsible for handling customer complaints.
Kayla makes flyers to promote her dance classes.
Marketing
Emil drives an airport shuttle van.
IT
Minh helps new employees with their hiring paperwork.
Production
Jackson maintains the company's computer system.
Finance
Answer: Please see below for answers
Explanation:
Connecting the right department to the examples given, we have
Pablo keeps track of the amount of money earned by his company and compares it to the amount spent----- Finance
----A Finance department is responsible for improving funds for the firm, managing, controlling and reporting of the funds and deciding how assets should be funded.
Fatima is responsible for handling customer complaints.-----Customer service-
---- Any matter relating to how customers can be satisfied is handled in the customer service department
Kayla makes flyers to promote her dance classes---- Marketing
-----Marketing department is responsible for developing idea or strategy to promote a business in order to increase sales.
Emil drives an airport shuttle van-----Production
Minh helps new employees with their hiring paperwork----HR
The HR department is concerned with everything that concerns employee from hiring to dismissal.
Jackson maintains the company's computer system-----IT
A man invests his savings in two accounts, one paying 6% and the other paying 10% simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is $2420 dollars. How much did he invest at each rate
Answer:
$11,000 - amount put in higher yielding account
$22,000 - amount he puts in the lower-yielding account
Explanation:
simple interest = principal x time x interest rate
Let x = amount he put in the higher yielding account
let 2x = amount he puts in the lower-yielding account
(2x x 0.06 x 1 ) + (x x 0.1 x 1) = $2420
0.12x + 0.1x = $2420
0.22x = $2420
x = 11,000 = amount he put in the higher yielding account
amount he puts in the lower-yielding account = 2x = 11,000 x 2 = $22,000
If a household's income rises by 30%, its budget constraint will A) shift out parallel to the old one. B) pivot at the Y-intercept. C) shift in parallel to the old one. D) be unaffected
Answer:
A
Explanation:
A budget constraint is a graph that shows all the combination of goods a consumer can consume given current prices and income of the consumer.
If income increases, the budget constraint will shift out parallel to the old
If income decreases, budget constraint will shift in parallel to the old one.
The liabilities of Oriole Company are $117,000 and the owner’s equity is $227,000. What is the amount of Oriole Company’s total assets?
Answer:
$344,000
Explanation:
Assets can be calculated by applying the accounting equations. In the accounting equations
Assets = Liabilities + Equity
In this case, liabilities are $117,000 and Equity is $227,000.
Therefore,
Assets = $117,000 + $227,000
Assets = $344,000
