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kirill115 [55]
3 years ago
6

During its first year of operations, a company entered into the following transactions: Borrowed $20,000 from the bank by signin

g a promissory note. Issued stock to owners for $40,000. Purchased $4,000 of supplies on account. Paid $1,600 to suppliers as payment on account for the supplies purchased. What is the amount of total assets at the end of the year?
Business
1 answer:
Alenkinab [10]3 years ago
5 0

Answer:

$62,400

Explanation:

Assets are Economic resources controlled by the entity as a result of past events from which cash is expected to flow into the business.

Assets include the following Amounts:

Cash from Bank Note              $20,000

Cash from Stock Issues           $40,000

Supplies Inventory                     $4,000

Payment for Supplies                ($1,600)

Total Available Assets             $62,400

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A specific strategy that treats the world as one market by using a standardized approach to products and markets is called _____
Ymorist [56]

Answer:

Matrix structure

Explanation:

Matrix structure is the structure where the individuals work across the teams and the projects, which are within the department or the function.

This structure is used in order to bring the managers and the employees together in order to work on the particular objective.

So, the strategy or the approach which treat the world as one through using the approach of standardize is known as the matrix structure.

7 0
4 years ago
Batterton prepaid a two full​ years' insurance on December 1 of the current​ year, $6,960. Record insurance expense for the year
mezya [45]

Answer:

A y a good time for me is that

4 0
3 years ago
The Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $279,000. Th
vampirchik [111]

Answer: executives for whom time is very essential and important

Explanation:

From the question, we are told that the Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $279,000.

The most likely prospective customers for this flying car would be the executives as the price could only be afforded by the rich or those at the helm of affairs in their companies.

The flying car is noted for its speed therefore the executives will consider time as a very important factor when purchasing it.

4 0
3 years ago
The balance sheet for the newly formed ACME Bank is shown below.ACME Bank Balance Sheet 1Assets Liabilities and net worthReserve
Anon25 [30]

Answer:

Explanation:

As the loan has not been used yet, it will stay in the Loan account of the bank. The balances on the books for ACME will therefore be,

Reserves - $151,000.

It does not change as loan has not been used yet. If Toshi was to use loan then this figure will reduce because withdrawals are given from the Bank reserves.

Checkable Deposits will increase by the loan amount as that was where Toshi was credited to.

= 140,000 + 28,000

= $168,000

Loans - $28,000

The bank will now have a loan balance of $28,000 on its debit side to reflect the loan it just gave out.

Stock Shares - $286,000.

Not affected by the transaction.

Property - $275,000

Not affected by the transaction.

6 0
3 years ago
All of these are open-system characteristics except
NARA [144]
I think the correct answer from the choices listed above is option D. All of these are open-system characteristics except circular causation. It is a<span>n action that is controlled or affected by its own status-change or result . Hope this answers the question. Have a nice day.</span>
8 0
3 years ago
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