Answer:
the balance sheet displays the company's total assets, and how these assets are ... found line items under Current Assets, Long-Term Assets, Current Liabilities, ... This account includes the balance of all sales revenue still on credit, net of any ... Capital
also assets =liabilites
Explanation:
Answer:
customs union
Explanation:
The arrangements between the two countries is called a customs union. In a customs union agreement, the member countries apply common external trade policies with the rest of the world while ensuring free trade and common tarrif amongst themselves. This is a partial form of economic integration that aims to boost economic progress among countries while also strengthening political and cultural ties among them
Answer:
$1,000 gain
Explanation:
The cost basis for the vehicles was $6,000 and the carrying cost was $4,000 = $2,000 depreciation
If they sold the vehicles for $5,000, then they had a $1,000 gain (= $5,000 - $4,000). The journal entries should be as following:
Dr Cash account 5,000
Dr Accumulated Depreciation account 2,000
Cr Motor Vehicles account 6,000
Cr Gain on Motor Vehicles 1,000
Medical costs can be extremely high, and insurance is more affordable than paying out-of-pocket for a hospital stay.
