Ti1-1 (book/static) (1) if the assets of a business are $ 480 comma 000 and the liabilities are $ 160 comma 000, how much is the equity? (2) if the equity in a business is $ 160 comma 000 and the liabilities are $ 100 comma 000, how much are the assets? (3) a company reported monthly revenues of $ 365 comma 000 and monthly expenses of $ 225 comma 000. what is the result of operations for the month? (4) if the beginning balance of retained earnings is $ 180 comma 000, revenue is $ 85 comma 000, expenses total $ 35 comma 000, and the company declares and pays a $ 20 comma 000 dividend, what is the ending balance of retained earnings? g

1)Equity = 320,000

2)Assets = 260,000

3)Result of operations for the month = 140,000

4)Ending balance of retained earnings = 210,000

Explanation:

1)Equity = Assets – Liabilities = 480,000-160,000 = 320,000

2)Asset = Liabilities + Equity = 100,000 + 160,000 = 260,000

3)Result of operations for the month = monthly revenues - monthly expenses = 365,000-225,000 = 140,000

4)Ending balance of retained earnings = Beginning balance of retained earnings + Net Income (revenue – expenses) – Dividend = 180,000 + 85,000 – 35,000 – 20,000 = 210,000

a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.