Answer:
a) 1. Acquired cash by issuing common stock ⇒ Asset Source
2. Paid a cash dividend to the stockholders ⇒ Asset Use
3. Paid cash for operating expenses ⇒ Asset Use
4. Borrowed cash from a bank ⇒ Asset Source
5. Provided services and collected cash ⇒ Asset Source
6. Purchased land with cash ⇒ Asset Exchange
7. Determined that the market value of the land is higher than the historical cost ⇒ Not applicable
b) I used an excel spreadsheet because there is not enough room here.
Think of a catchy slogan to go with it
Answer:
Definition 1:
FINANCE is the function in a business responsible for acquiring funds for the firm, managing funds within the firm, and planning for the expenditure of funds on various assets. ... FINANCIAL MANAGEMENT is the job of managing a firm's resources so it can meet its goals and objectives.
Definition 2:
Finance is critical in just about every business decision, from planning and budgeting and cash flow management to the capital structure and how you control risks and costs.
(please note that this was found by doing research.)
Hope this helps!
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Expenses likely to be classified as prepaid expense (asset) are Prepaid Rent & Insurance Premiums. Enter a prepaid rent payment on the balance sheet as an asset until the month when the company is actually using the facility to which the rent relates, and then charge it to expense. Any insurance premium costs that have not expired as of the balance sheet date should be reported as a current asset such as Prepaid Insurance.
