Answer:
Total Assets
Inventory is understated by $59,300 at the end of the year which means that assets are understated by the same amount.
To rectify this therefore you;
= 6,395,000 + 59,300
= $6,454,300
Net Income
When closing inventory is understated, it will have the effect of understating income and when opening inventory is understated, income will be overstated.
This means that the income for the year is overstated by $139,000 but understated by $59,300.
Corrected income is;
= 500,000 - 139,000 + 59,300
= $420,300
Answer: B. $2,500
Explanation:
The American opportunity tax credit (AOTC) is a tax credit benefit for parents and Guardians to paying tuition on Qualified students.
A maximum of $2,500 in credit can be acquired per eligible student and to qualify for this maximum, a married couple filing together must have a Modified Adjusted Gross Income (MAGI) of less than $160,000.
With a modified AGI of $90,000, Jeffery and Cassie are below the threshold and qualify for the full figure.
Answer:
A firm with financial leverage has a larger equity multiplier than an otherwise identical firm with no debt in its capital structure.
Explanation:
The equity multiplier basically tells us what portion of the company's assets were financed through equity, i.e. what portion was financed by the company's owners.
the formula to determine the equity multiplier = total assets / total equity
the higher the equity multiplier, the higher the return on equity (ROE), but a high equity multiplier (financial leverage) also increases the company's risk since eventually it might not be able to pay off its creditors if something goes wrong.
Answer:
Government Budget is considered as the prevalent piece of its organization which oversees the income and the use of the US country. The Budget has the goal of guaranteeing the ideal assignment for the open government assistance decisions in the territory of Health, Education, Infrastructure, Defense and Corporate undertakings, and so forth. Despite the fact that US country dispenses gigantic assets so as to spend on social government assistance objectives, it faces the basic circumstance of spending shortage with the significant drop in the GDP in the hour of downturn period.
The impact on the Long-run capital stock per specialist will be decreased to the impressive impact. The impact will be over the long haul with the activity of overcoming any issues between the work openings and the pace of the amount of the creation units. As it was referenced before that the steady status of Private Savings is reflected in the activity of US national government by disbanding the shortage spending plan. This will turn showed the away from of amount of creation of merchandise and enterprises expanded by giving more motivations and making increasingly corporate based foundation offices to the business people. So it gave ideal work offers to the talented representatives. So we can express the impacts of the since quite a while ago run capital stock per specialist.
This likewise offers the response for the impact on since quite a while ago run yield per laborers. Greater amount of products and ventures are created by adjusting with the administration spending on country building exercises together with spending for the corporate addition exercises. Corporate Profits are guaranteed here just when the legislature gives sponsorships to the new business people when they produce the merchandise by taking care of the peripheral expense and furthermore expanding the yield relating to the each laborer utilized to create each unit of creation of products and ventures. So it likewise produce over the long haul time frame.
Answer:
B. $129 million
Explanation:
bad debt expense for the year = balance in allowance at the end + write off - balance in allowance at the beggining
= $319 million + $137 million - $327 million
= $129 million
Therefore, Oracle Corporation report as bad debt expense for the year is $129 million.