A person may choose to rent instead of buying a property as they can't afford a down payment
Answer: Balance sheets follow ALS
Explanation: ALS stands for Assets-Liabilities-Stock (equity).
So first, find all assets. Place them under "assets" and add/subtract as needed (most likely add). In your case it should look something like this:
ASSTES:
Cash $6,414
Receivables $2,662
Inventory $3,191
Prepaid Expenses $2,557
TOTAL CURRENT ASSETS: $14,824
LONG TERM ASSETS:
Land $16,643
Buildings $56,163
Equipment $2,750
TOTAL LONG TERM ASSETS: $75,556
TOTAL ASSETS: $90,380
Where total current assets are calculated by summing up the total short term assets and long term assets is the same but with long term assets. Finally total assets is the sum of both the long and short term assets. You then do the same for the liabilities and equity.
Companies using the accrual concept of accounting to complete the measurement process at the year end through the recording of adjusting entries.
<h3>What is an accrual concept?</h3>
An accrual concept is one of the method which records the incomes at the time when it is earned or charges when it is incurred.
Adjusting entries are the entries recorded in the accounting books to close all the accounts at the year end. It helps in determining the correct amount of charges and revenues at the time of finalizing the accounting statements.
Therefore, the adjusting entries are used by the company to complete the measurement process while applying the accrual concept.
Learn more about the accrual concept in the related link:
brainly.com/question/17256489
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Answer:
0.75
Explanation:
The cross price elasticity measures how a change in price of one good affects the quantity demanded of another good
Cross price elasticity = percentage change in quantity demanded of pens / percentage change in the price of pencils
percentage change in quantity demanded of good A = (150 -100) / 100 = 0.5 = 50%
percentage change in the price of good B = (2.50 - 1.50) / 1.50 = 0.67 = 67 %
Cross price elasticity = 50% / 67% = 0.75
I hope my answer helps you
Around 69% of people went to college.
