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2 years ago

Given the following list of accounts with normal balances, what are the trial balance totals of the debits and credits?

Business

1 answer:

Alexeev081 [22]2 years ago

7 0

Please see attached image to see the given data.

The trial balance totals of the debits and credits are $2,250 debit, $2,250 credit.

$1000 (cash) + $500 (Equipment) + $750 (Salaries Expense) = $2,250 Debit

$350 (Accounts Payable) + $900 (Capital) + $1000 (Service Fees) = $2,250 Credit

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2 years ago

This activity is important because it covers important terms for effective money management. The goal of this exercise is to ide

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Remainder Part of the Question:

Build Your Financial Base Terms:

The ______ is one of the best places to put your money.

A _______ is one of the worst places to keep long-term investments.

You can use a _______ to keep track of purchases.

Your _______ is likely to be the largest of the most important investments you make.

It is wise to plan your financial future with _______.

Available Options are:

Credit Card, Bank Account, Home, Uncertainity, Excitement, car, insurance, stock market, payday loan.

Answers:

A. Stock market

B. Bank Account

C. Credit Card

D. Home

E. Insurance

Explanation:

A. The Stock Market is one of the best places to put your money.

Stock markets are the source of raising funds for investments by the companies. The stock market helps the investor to choose the investment with appropriate returns and risks. Furthermore the investor can also diversify its return by managing the portfolio of investments.

B. A Bank Account is one of the worst places to keep long term investment

The lowest returns are on saving accounts hence it is the worst place for long term investments.

C. You can use Credit Card to keep a track of your purchases.

Credit cards can be used for tracking all of purchases because monthly statement mailed to you includes all the spendings during the year.

D. Your Home is likely to be the largest of the most important investments you make

Buying home is considered as one of the largest investments as it takes substantial savings of the person to buy an house. A roughly estimate would be the savings of 3-4 years for a small house for a couple.

E. It is wise to plan your financial future with Insurance.

Because Insurance helps you to lower your financial risks. The risk is associated with life, home, car, and physical assets and thus the investor must use insurance facility.

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2 years ago

To create a balanced budget, one must balance needs against what

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To create a balanced budget, one must balance needs against wants.

In order to Create a balanced budget you should:

1. Keep track of your financial gain and expenses.
2. Stay on top of your monthly bills.
3. Be ready for surprising expenses.
4. Not overspend.
5. Figure out what quantity you wish to save lots of to satisfy your monetary goals.

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2 years ago

Read 2 more answers

If the slope of a straight line is minus3 and if Y (the variable on the vertical axis) decreases by 6, then X (the variable

Sergio039 [100]

Answer:

X (the variable on the horizontal axis) will increases by 2.

Explanation:

The slope of a straight line is -3. So, m=6.

Slope of a straight line is

$m=\dfrac{Rise}{Run}=\dfrac{\text{Change is y}}{\text{Change in x}}$

Y (the variable on the vertical axis) decreases by 6.

Change is y = -6

We need to find the change in (the variable on the horizontal axis).

Substitute the given values in the above formula.

$-3=\dfrac{-6}{\text{Change in x}}$

$\text{Change in x}=\dfrac{-6}{-3}$

$\text{Change in x}=2$

Note: All options are incorrect.

Therefore, X (the variable on the horizontal axis) will increases by 2.

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2 years ago

ABC owns 80 percent of XYZ Corporation’s common stock. For the current financial year, ABC and XYZ reported sales of $500,000 an

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Answer:

$284,000

Explanation:

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Consolidate Income Statement

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Particulars ABC XYZ

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Less: Expenses $(280,000) $(240,000)

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= $284,000

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2 years ago