Question

Kendall businesses balance sheet shows a balance of -$516. Kendall wants his business to have a balance of $300 after 6 more months If Kendall's business plants to profit the same amount each month, now much money does it need to profit each month to have a balance of $300 after 6 more months.

Answer 1

Balance: -$516

Wanted balance: $300 (after 6 months)

First subtract the actual balance to the wanted balance

300-(-516) = 300+516 = $816

Now, divide it by the number of months:

816 /6 = $136 per month