Answer: D. $40,175
Explanation:
The balance in the Capital account reported on the Statement of Owner's Equity will include the Capital contributions of Andrea Apple to the business as well as the Net income from operations also known as Retained Earnings.
The Net Income for the month will be revenue less expenses.
Revenue
$5,700 cash and $2,750 on account for services provided in January.
Revenue is therefore,
= 5,700 + 2,750
= $8,450
Expenses
Expenses include the rent paid of $1,500 and the $275 paid for January Utilities.
= 1,500 + 275
= $1,775
Net Income = Revenue - Expenses
Net Income = 8,450 - 1,775
Net Income = $6,675
The Capital that Mr. Apple brought into the business refers to anything he contributed to the business whether in cash or otherwise.
The Capital therefore is,
- The $13,500 cash and the $20,000 worth of equipment.
The Capital Mr. Apple brought into the business is therefore,
= 13,500 + 20,000
= $33,500
The balance on the capital account will therefore be,
= Capital + Net Income
= 33,500 + 6,675
= $40,175
Option D. is correct.
The equivalent of his student loan debt can be over re-paid while being spread over number of years.
<h3>What are maximum student loan debt?</h3>
The maximum student loan debt refers to maximum amount of loan that are grantable to student and are expected to be repayed back either during school or when employed.
For undergraduates, the maximum is $57,500 and $138,500 for graduate or professional students.
Because he expects his starting annual salary to be $35,000, then, the equivalent of his student loan debt can be over re-paid while been spread over number of years.
Read more about loan debt
<em>brainly.com/question/24576997</em>
Answer:
$874.50
Explanation:
Calculation to determine the cost recovery deduction for 2020
2020 cost recovery deduction = $10,000 × 17.49% × ½
2020 cost recovery deduction = $874.50
Therefore the cost recovery deduction for 2020 is $874.50
The creation of "Worldwide Products"—items with a global focus—results from the outsourcing of productive tasks to various providers.
<h3>What are Worldwide Products?</h3>
The aggregate gross national income of all the nations in the globe is known as the gross world product (GWP).Because imports and exports are exactly balanced when looking at the entire planet, this also equals the total global GDP. The nominal GWP in 2013 was around 75.59 trillion US dollars, according to the World Bank. The GWP was around $80.27 trillion in nominal terms and was over 127.8 trillion international dollars in terms of purchasing power parity in 2017, according to the CIA's World Factbook (PPP).
To learn more about Worldwide Products from the given link:
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Answer:
adding up consumption, investment, government expenses, and net exports
adding up the market prices of final goods and services produced in the U.S
adding up the incomes of producers and taxes paid to the government
Explanation:
GDP is a measure of the sum value of a country's output in a given period. The GDP value reflects economic growth or decline in a country for the period under review.
GDP is calculated using three methods. They include the income, production, and expenditure approach.
In the Income approach, economists add up all the earnings from the factors of production. Wages and salaries of all employees; the profits from businesses and corporates' ; rents, and interests form landlords are summed up to get GDP. Adjustments are made to cater for the taxes paid to the relevant government agencies. ( 4th option)
The production approach involves getting the value of all the finished consumer goods and services in the economy. The approach excludes intermediary goods and work-n progress. GDP is obtained by adding the total of the finished products and services and multiplying them by their prices. (3rd option)
The consumption option applies a formula that GDP = C+G+I+ NX, where C is private consumption expenditure, G is government consumption and investment expenditure, and I in private investment expenditure. NX is the net imports. ( 1 st option )
