Answer:
Category Items
1. Assets a, b, c, e, d
2. Liabilities and equity<em> </em> f, g, h, i
Explanation:
A balance sheet in financial account can be defined as an expression, usually in writing of the business financial condition. It is usually divided into the following categories, namely; assets, liabilities and equity. Each category is also further divided into sub-categories for specificity. A balance sheet generally provides an organized way in which financial information can be presented. When financial information is presented using a balance sheet, a user finds it much easier to extract information from the statement as opposed to simply listing all the financial information without any order.
The financial information given can be organized as follows;
Category Items
1. Assets a, b, c, e, d
2. Liabilities and equity f, g, h, i
In general, assets include; currents assets, investments, property, plant and equipment that are fixed assets, other assets required and intangible assets. Additionally, the liabilities and equity include; current liabilities, long-term liabilities, paid-in capital and retained earnings.
Answer:
The answer is stated below:
Explanation:
The accounting equation is as follows:
Assets = Liabilities + Stockholders' Equity
Analyzing the transactions:
1. The service is provided to customer on account, which result in increase in assets and the stockholders' equity
So,
Assets = Liabilities + Stockholders' equity
+ $4,000 = $0 + +$4,000
2. The equipment is purchased by signing a note, which result in increase in liability and also increase in the assets.
So,
Assets = Liabilities + Stockholders' equity
+ $10,500 = +$10,500 + $0
3. Paid for the advertising, which result in decrease in cash as well as decrease in the equity of the company.
So,
Assets = Liabilities + Stockholders' equity
- $1,200 = $0 + -$1,200
Answer:
Loan origination fee = $696
Explanation:
Given:
Home value = $58,000
Loan-to-value loan = 80%
Loan origination fee = 1.5 points = 1.5%
Find:
Loan origination fee = ?
Computation:
Total loan amount = Home value × Loan-to-value loan
Total loan amount = $58,000 × 80%
Total loan amount = $46,400
Loan origination fee = Total loan amount × 1.5%
Loan origination fee = $46,400 × 1.5%
Loan origination fee = $696
Answer:
-$720 unfavorable
Explanation:
The computation of the material quantity variance is shown below:
= Standard Price × (Standard Quantity - Actual Quantity)
= $18 per pound × (610 pounds - 650 pounds)
= $18 per pound × -40 pounds
= -$720 unfavorable
Simply we take the difference between the standard quantity and the actual quantity and then multiply it by the standard price so that the correct value can come