Answer: $11,200
Explanation:
Using the accounting equation:
(Total Assets) = (Total Liabilities) + (Total Capital)
So,
(Total Liabilities) = (Total Assets) - (Total Capital) (1)
Based on equation (1), in order to compute for the total liability, we need to compute the total assets and total capital.
At the end of the first year, the following are the assets Shapiro's consulting services (together with the amount):
Cash: $16,000
Office Supplies: $3,200
Equipment: $24,000
Accounts Receivable: $8,000
TOTAL ASSETS $51,200
Note that the total assets is obtained by adding the amount (or value) of the all the assets listed above.
Since the net income is an increase (or decrease if it's a net loss) of capital, we classify net income as capital. In particular, the net income of Shairo's at the end of first year adds to the capital at the start of first year.
Moreover, the withdrawal of money by the owner also decreases the capital.
Thus, the total capital at the end of first year is calculated as follows:
Capital (start of the year): $15,000
Net Income (end of year): $27,000
Withdrawal Amount: ($2,000)
TOTAL CAPITAL: $40,000
Note: ($2,000) means -$2,000. This notation is used in accounting.
Hence using equation (1), the total liabilities at the end of first year is given by
(Total Liabilities) = (Total Assets) - (Total Capital)
= $51,200 - $40,000
Total Liabilities = $11,200
Answer:
The answer is: Modified rebuy
Explanation:
A modified rebuy happens when a company (or an individual consumer) will buy a product or service which it has already purchased in the past. But now the company wants to change either the supplier, the product's specifications (e.g. gel seats) or the terms of the sale.
Answer:
I would rather sign a contract with talent for a relatively short period say 5 months where I would pay $5000 per month or I would increase the amount paid for the painting to $10000 or $15000
Explanation:
A huge momentarily reward can blind long term gain and during this period.
Answer:
C). Professional Conduct
Explanation:
Ethical behavior is characterized as the obedience of moral principles like fairness, honesty, and equity. Such behavior recognizes the individual diversity and offers equal rights and respect to the dignity and integrity of every individual. It is one of <u><em>the significant aspects of 'professional conduct' which promotes professionalism, healthy work relationships, mutual understanding, and maximize the output</em></u>. Thus, <u>option C</u> is the correct answer.
