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Gnom [1K]
1 year ago
8

During its first year of operations, Anthony Lupa set up Lupo Inc. and invested $15,000 in the corporation. The company earned $

35,000 of revenues and incurred $23,000 of expenses. A cash dividend of $2,000 was paid to Anthony. At the end of the year, the company's equity totaled:
Business
1 answer:
abruzzese [7]1 year ago
4 0

Answer:

At the end of the year, the company's equity totaled: $25,000

Explanation:

The company earned $35,000 of revenues and incurred $23,000 of expenses.

Net income = Revenue - Expenses = $35,000 - $23,000 = $12,000

Retained earnings of the company = Net income - Cash dividend = $12,000 - $2,000 = $10,000

At the end of the year, the company's equity = Anthony Lupa's invested + Retained earnings =  $15,000 + $10,000 = $25,000

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The existence of a(n) _____ entity indicates that its minimum cardinality is zero.
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The existence of an optional entity indicates that its minimum cardinality is zero. The following are the types of the optional entities.


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• Sub types (optional) is the fundamental entities that inherit the attributes and associations from this fundamental entity.

• Attributes (optional) is the attributes that describe this fundamental entity. When attributes are united crossways multiple important entities, consider defining a super type fundamental entity to hold the shared attributes and define them only once. These attributes are based on the secondary business terms related to the primary business term that this fundamental entity originates from, and on the description of that primary business term.

• Relationships (optional) is the relationships to other entities. An important unit can be relative of one or more relationships with an associative unit. A fundamental unit can also be right associated to another fundamental entity as a child or a parent when the cardinality is at most a one to many. These relationships are founded on the related main relations to the business term that this fundamental entity creates from. 
5 0
2 years ago
Anne Lockwood, manager of Oaks Mall Jewelry, wants to sell on credit, giving customers 3 months to pay. However, Anne will have
Alja [10]

Answer:

15.18%

Explanation:

Calculation for the nominal annual rate

First step is to find EFF% using this formula

EFF%=[1+(Nominal rate percentage/Numbers of months in a year )]^Numbers of months in a year

Let plug in the formula

EFF%=[1+(15%/12)^12

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Second step is to find Rnom compounding quarterly of 116.08% using this formula

Rnom compounding quarterly = (1+(R/4)^4

Let plug in the formula

Rnom compounding quarterly= (116.08%)^(1/4) Rnom compounding quarterly= 1+ R/4

Hence,

Rnom compounding quarterly = 15.18%

Therefore Anne Lockwood should quote her customers with Rnom compounding quarterly of 15.18%

6 0
1 year ago
A trade surplus is _____. A. rarely a result of supply and demand B. an increase in the value of a currency C. the result of a n
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A trade surplus is C) the result of exporting more goods than it imports
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1 year ago
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1 year ago
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skad [1K]

Answer:

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