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4 years ago

How does buying a plant asset affect general ledger accounts

Business

1 answer:

Tanzania [10]4 years ago

7 0

Answer:

A plant asset will add to assets and subtract from liabilities.

Explanation:

The general ledger holds all of the information needed to prepare financial statements and includes assets, liabilities, equity, revenue and expenses.

I hope I understood the question and that this helps.

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A task force refers to any Question 1 options: informal group that has the same members as the permanent task-oriented group. fo

zalisa [80]

Answer: temporary team formed to solve a problem, realize an opportunity, or design a product or service.

Explanation:

A task force is formed for the purpose of finding out how to fix a certain problem or realize a product or service.

Once this problem has been fixed or this good realized, the task force is disbanded because it is a temporary group that has fulfilled its objectives and so no longer has to be in effect. For instance, countries have Cov-id-19 taskforces who help coordinate responses to Corona and they will be disbanded when Corona is gone.

8 0

3 years ago

A fire has destroyed a large percentage of the financial records of the Inferno Company. You have the task of piecing together i

torisob [31]

Answer:

9.98%

Explanation:

The total debt was $651,000

And, the total debt ratio is 0.33

So by considering the above information, we can find out the total assets value which is

= $651,000 ÷ 0.33

= $1,972,727.27

Now according to the accounting equation

The total assets = Total liabilities + owners equity

$1,972,727.27 = $651,000 + owners equity

So, owners equity = $1,321,727.27

And, the return on equity is

Return on equity = (Net income) ÷ (total equity)

14.9% = Net income ÷ $1,321,727.27

Hence, net income = $196,937

And, the return on assets equal to

= (Net income) ÷ (Total assets)

= $1,321,727.27 ÷ $1,972,727.27

= 9.98%

4 0

4 years ago

Carrie and Michael are married and will file a joint return. In addition to income from wages, they have a $5,000 long-term capi

Elena L [17]

Answer: 15%

Explanation:

From the question, we are informed that Carrie and Michael are married and will file a joint return and that they have a $5,000 long-term capital gain from the sale of stock. We are further told that their 2019 taxable income is $121,500.

Based on the above scenario, their capital gain will be taxed at a rate of 15%. This is due to the fact that when filing their status, they will be regarded as married and the applicable rate is 15% for an income that is between $78,751 and $488,850. Since they've $121,500 their rate will be 15%.

6 0

4 years ago

An estimated three-quarters of what product sold in naples originate in the black market?

Ivanshal [37]

<span>This is because the tax on a carton of cigarette is about $10plus. It used to be $3plus before the Obama administration and when the cost of tax is added to the sales price, it makes it more expensive for the average consumer, however, black market sellers usually avoid paying taxes thats why it is black market.</span>

7 0

4 years ago

Brian holds a meeting with all the managers in the company to identify a strategy for business growth. He tells the managers tha

Pavel [41]

Answer:

Explanation:

market penetration means selling exiting products in existing market which is less risky then other methods of development. this is also called aggressive marketing.

6 0

3 years ago