Tonelli Trucking buys a $65,000 truck on credit. Which financial statement will be affected by this transaction?

Business

1 answer:

Arlecino [84]3 years ago

6 0

Answer:

A : balance sheet only

Explanation:

In the given question, the truck was purchased on credit and the truck is a fixed asset that comes under the balance sheet only because in the income statement, the expenses and revenues are recorded whereas retained earnings records profit which is left to the company.

So, it affects the balance sheet only. As balance sheet records all types of assets and all types of liabilities plus shareholder equity.

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Garth decided to move out of a small homestead home and into a larger more expensive one. The market value of his old home at th

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Answer:

$200,000

Explanation:

we must first determine the assessed value not taxed on Garth's old home:

market value of Garth's old home - assessed value = $250,000 - $175,000 = $75,000

now we subtract $75,000 from the market value of Garth's new home:

$325,000 - $75,000 = $250,000 = adjusted assessed value of Garth's new home

The taxable value of Garth's new home (for city taxes) = adjusted assessed value - homestead exemptions (for city taxes) = $250,000 - $50,000 = $200,000

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Answer:

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Explanation:

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Do you know why sustainable business is important?

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Answer:

In short, sustainability in business refers to the effect that companies have on the environment or society. A sustainable business strategy aims to positively impact one or both of those areas, thereby helping address some of the world's most pressing problems, such as climate change and income inequality.

Explanation:

yeah

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