Investors and Creditors are concerned about the financial state of the organization. They rely on the assets and liabilities to analyze the current situations in the organization related to the safety of their investments and profitability. Additionally, every creditor and investor wants to know where their money is and where it has been allocated.
The investors are also concerned about the shareholders equity, which is calculated by subtracting the total liabilities from the total assets, as it represents the net worth of the organization.
Therefore, the assets and liabilities of any organization enable the investors and creditors to make decisions regarding whether to continue with the organization anymore.
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Cooperative agreements to USA and territories nonprofit companies, for-earnings, Tribes, IHEs, and agencies for projects to cope with violence in colleges.
A cooperative settlement reflects a relationship between the U.S. government and a recipient and is used whilst the government's cause is to assist the intermediary in presenting items or services to the authorized recipient.
The cooperative settlement means a signed contract between the department and some other party, for example, a fitness care issuer. This agreement allows the branch to pay the fitness care company for supplying services to IA CFY software contributors.
Contracts, the law states, are awarded whilst a Federal enterprise is acquiring something – a provider, for instance. both grants and cooperative agreements are presented when a Federal organization is supplying assistance – the latter occurring when tremendous involvement by way of the agency is expected.
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In medisoft, the charge transaction area entry dialog box is used to enter a fee for a NSF, and what area is used to enter bounced check.
A financial transaction is an agreement or communication between a buyer and a seller to exchange goods, services, or assets for payment. All transactions involve changes in the financial status of two or more companies or individuals.
Transactions are business events that have a monetary impact on a company's financial statements and are recorded as entries in the books of accounts. An example of a transaction is paying a supplier for services rendered or goods delivered.
Based on cash transactions, there are three types of accounting transactions: cash transactions, non-cash transactions and credit transactions.
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Answer:
$9,098
Explanation:
Trial Balance at December 31, 2022
Account Name Debit
Cash $320
Accounts receivable $700
Prepaid insurance $88
Supplies $270
Equipment $4,800
Salaries and wages expense $2,300
Rent expense <u>$620</u>
Total Debits <u>$9,098</u>
Note: All expense and assets have debit balances while all liabilities, revenue and owners equity have credit balance.
