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defon
2 years ago
7

Explain the equation for the balance sheet. Define the three major components reported on the balance sheet.

Business
1 answer:
Lelechka [254]2 years ago
8 0

The equation for the balance sheet (also known as the basic accounting equation) is:

Assets = Liabilities + Stockholders' Equity.

The three major components reported on the balance sheet are-

(1) the assets, which are probable future economic benefits owned or controlled by the entity

(2) the liabilities, which are probable future sacrifices of economic benefits; and

(3) the owners’ equity, calculated as the residual interest in the assets of an entity after deducting liabilities.

The list of assets shows the forms in which the company’s resources are lodged; the list of liabilities and the owners’ equity indicate where these same resources have come from.

To know more about balance sheet click below

brainly.com/question/26323001

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Sean is looking for a new job that will allow him the flexibility to work from home at least one day a week so he can care for h
liq [111]

<u>Answer</u>:

Boundaryless career pattern is similar as temporary workers.

<u>Explanation</u>:

“Boundaryless career” has been a new perspective in any organisation these days. This type of career pattern provides the employees flexibility in terms of working hours. They pay them high wages for their excellent skill set.  

A person works with several organisations at a single point of time and quickly develops his career. Knowledge of such people is quite high, and companies gain from their expertise. As given in the question, Sean is provided flexibility by allowing him to work from home so that he can take care of his parents. So, this is a boundaryless career pattern.

5 0
3 years ago
Each of the following items must be considered in preparing a statement of cash flows (indirect method) for Turbulent Indigo Inc
DanielleElmas [232]

Answer:

(a) Plant assets that had cost $20,000 6 years before and were being depreciated on a straight-line basis over 10 years with no estimated scrap value were sold for $5,300.

  • increases cash flows from investing activities

(b) During the year, 10,000 shares of common stock with a stated value of $10 a share were issued for $43 a share

  • increases cash flows from financing activities

(c) Uncollectible accounts receivable in the amount of $27,000 were written off against Allowance for Doubtful Accounts.

  • this corresponds to bad debt expense which is included in the income statement

(d) The company sustained a net loss for the year of $50,000. Depreciation amounted to $22,000, and a gain of $9,000 was realized on the sale of land for $39,000 cash.

  • the net loss and the gain on the sale of land decreases the cash flows from operating activities, while the depreciation expense increases it.
  • the $39,000 received will increase cash flow from investing activities

(e) A 3-month U.S. Treasury bill was purchased for $100,000. The company uses a cash and cash equivalent basis for its cash flow statement.

  • not included in teh cash flow statements

(f) Patent amortization for the year was $20,000

  • increases cash flow from operating activities (in a similar way than depreciation)

(g) The company exchanged common stock for a 70% interest in Tabasco Co. for $900,000.

  • this is a non-cash financing and investing activity

(h) During the year, treasury stock costing $47,000 was purchased

  • decreases cash flow from financing activities
4 0
3 years ago
Other than the business letter, which format might Mr.Stroud have chosen to deliver similar information to Ms.Davis?
Fantom [35]
My guess would be Email because its a similar to sending a business letter 
3 0
3 years ago
When a manufacturer forbids an intermediary to carry products of competing manufacturers, the arrangement is known as _____. A f
timurjin [86]

Answer:

The answer is option (D) Exclusive dealing.

Explanation:

Exclusive dealing is a term in competition law that describes when manufacturers enter a contractual agreement with an intermediary (suppliers, retailers or distributors) regarding the sale of only the manufacturer's product through a wholesale sales outlet or retail within a particular region.

This kind of arrangement is mutually beneficial as it 'ties' wholesaler or retailers to purchasing from a manufacturer based on the understanding that no other intermediary in the given area would be appointed to purchase from the manufacturer.

7 0
3 years ago
Suppose that when the price per ream of recycled printer paper rises from $4 to $4.50, the quantity demanded falls from 800 to 6
Tju [1.3M]

Answer: The answer is -2.42

Explanation:

P1 = $4 Q1 = 800

P2 = $4.50 Q2 = 600

Using the midpoint formula, we have:

For price:

P2 - P1/(P2 + P1)/2

= 4.5 - 4/(4.5 + 4)/2

= 0.5/4.25

= 0.12

For quantity:

Q2 - Q1/(Q2 + Q1)/2

= 600 - 800/(600 + 800)/2

= -200/700

= -0.29

Price elasticity of demand = change in quantity/change in price

= -0.29/0.12

= -2.42.

7 0
4 years ago
Read 2 more answers
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