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Aleks [24]
2 years ago
7

On may 31, 2022, hughes construction recorded $50,000 in bonds payable, $30,000 in notes payable, $9,000 in wages payable, $3,00

0 in accounts payable, and $1,450 in taxes payable. How are all of these accounts similar?.
Business
1 answer:
Andrej [43]2 years ago
7 0

All of them represent liabilities that must be paid back at some specified point in the future.

<h3>What are liabilities?</h3>

Liabilities are financial obligation of a company that results in the company's future sacrifices of economic benefits to other entities.

There are various reason why a company would incur liabilities:

  • Human error.
  • Environmental damage.
  • Defective product/work.
  • Natural hazards.

Hence, all of the above represent liabilities that must be paid back at some specified point in the future.

Learn more about liabilities here: brainly.com/question/2819860

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Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern
mario62 [17]

Answer:

Total cash collection May= $60,000

Explanation:

Giving the following information:

Cash collection:

30% are collected in the month of sale

60% are collected in the first month after sale

10% are collected in the second month after sale.

Sales:

April= $60,000

May= $80,000

<u>We need to calculate the cash collection for May:</u>

Cash collection:

Sales in cash May= (80,000*0.3)= 24,000

Sales in account from April= (60,000*0.6)= 36,000

Total cash collection May= $60,000

7 0
3 years ago
The chart below shows an exchange rate table.
Goryan [66]

Answer:

the answer is (d) euro. might be wrong tho i dont know

sry...

6 0
2 years ago
Read 2 more answers
When budgeted and actual results are not the same amount, there is a budget
torisob [31]

Answer:

a) difference.

Explanation:

As we know the budget represents the difference between the expected and the actual results

So as per the given situation, in the case when the amount of the expected and the actual results are not same or similar so it should be the budget difference

hence, the option a is correct

And, the rest of the options are incorrect

7 0
3 years ago
Which of the following statements is true of a trial​ balance?A.A trial balance has the same format as a balance sheet.B.A trial
seraphim [82]

Answer:

A trial balance presents data in debit and credit format.

Explanation:

There are two sections in the trial balance, called columns of debits and columns of credits. The total columns of debit and credit should always correlate or matched. The debit columns report assets and expenditures side while revenues stockholder equity, and the liability side are reported in the credit column.

4 0
2 years ago
Within the​ growth-share matrix,​ "cash cows" are​ __________.
Flura [38]

Within the​ growth-share matrix,​ "cash cows" are low-growth, high-share businesses or products.

4 0
3 years ago
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