Answer:
Assets: 180,000
Explanation:
Accounting Equation Formula:
Assets = Liabilities + Owner's Equity
The accounting equation shows which resources the company has for the development of its activities and how they are financed. Assets are those mentioned resources, such as cash, bank accounts, inventory, etc. Those assets can be financed by external or internal sources. Liabilities represent external sources, which means, obligations. Instead, Owner's Equity represents internal sources, which means issuing equity shares. As every resource have to be finance either external or internally, the value of the Asset should match the add of Liabilities and Owner`s Equity.
Answer:
Correct option is (c)
Explanation:
Managerial accounting reports are prepared for the internal use by managers within different departments in the organization. They may or may not be published for external users like creditors or customers.
These reports need not comply to any established authorities like GAAP or IFRS. They are used by managers for various decision making purposes, so they can be prepared as per the manager's convenience.
Answer:
B. Recommended Charts
Explanation:
If you are unsure of the best chart option for your data use the Recommend Charts button. It will open the Insert Chart window shown here. When you select a chart, three buttons appear along the right side of the selection
Answer:
Etter capital $83,000
Lonnie Davis capital $83,000
Explanation:
Data provided in the question:
Capital balance of Myles Etter = $249,000
Capital balance of Crystal Santori = $105,000
Amount of interest sold by the Etter to Lonnie Davis = one-third
Sales price = $70,000
Now,
Required entry will be as follows
Etter capital $83,000
Lonnie Davis capital $83,000
Here,
the cash will be directly received by the Etter not by the partnership
Hence,
It will have not effect on the entry.
D. Price ceiling
This is a government regulation that establishes a maximum price for a specific thing.
