Answer:
Explanation:
a. Accounts Payable
Payments on account $303,500 | Beginning balance $154,000
| Purchases on account $283,000
|
| Ending balance $133500
b. Accounts Receivable
Beginning balance $103,500 | Cash receipts on account $103,890
Sales on account $91,390 |
|
Ending balance $91,000 |
c. Cash
Cash receipts $104,500 | Cash disbursements $105,150
Beginning balance $20,250 |
|
Ending balance $19,600 |
Answer: These could be categorized as follows :-
Explanation:
a. Accounts receivable = Asset in balance sheet
b. Sales = Revenue in income statement
c. Equipment = Asset in balance sheet
d. Supplies expense = Expense in income statement
e. Cash = Asset in balance sheet
f. Accounts payable = Liability in balance sheet
g. Retained Earnings = Equity in balance sheet
h. Revenue = Revenue in income statement
i. Contributed Capital = Equity in balance sheet
j. .Cost of Goods Sold = Expense in income statement
k. Notes Payable = Liability in balance sheet
l. Selling and Administrative Expenses = Expense in income statement
Answer:
The statement is True.
Explanation:
There are many forms of business. Partnership, limited liability, sole proprietor, commercial, etc. Sole proprietorship is a business that is owned and run by a single person. That person is the owner of the business. We can call him an entrepreneur, or sole proprietor, or single trader, etc. There are many disadvantages of running business individually, as you are the one who is solely responsible for all the liabilities of the business. But at the same time, sole proprietorship has some benefits associated with it for the small business owners. The main advantage of running the business single handed is to enjoy the whole profit made out of the business. When the owner is responsible for all the liabilities of the company, just like that, he is the one who is receiving all the profits from the business. So when business is small, there is no need to divide the small amounts of profits between the shareholders. All the profit is kept by the individual owner.
Answer:
14.6 years
Explanation:
Applying an early depreciation rate 'r = 18%', the value of an automobile originally valued at $18,000, after 't' years, is given by:
The number of years required for which V(t) = $1,000 is:
It will take 14.6 years for the value of the automobile to decrease to $1,000.
Answer:
20
10
Twice
Five times
Cow stalls are constructed
Explanation:
The U.S. dairy cow industry produced milk from just over _20_ million cows in 1924. Today, it relies on just under_10_ million. And yet total milk production today is a little over __twice_ what it was in 1924. This is possible because the typical cow produces __five times___ as much milk, thanks to strategic breeding and changes in how _stalls are constructed_.
