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3 years ago

1. Identify each account as an asset (A), liability (L), or equity (E).

Business

1 answer:

Novosadov [1.4K]3 years ago

5 0

Answer:

Interest Revenue: Income, Credit balance, credit increases the balance, debit reduces such balance

Accounts Payable: Liability, Credit balance, credit increases the balance, debit reduces such balance

Calhoun Capital: Equity, Credit balance, Credit increases the balance, debit reduces such balance

Office Supplies: Asset, Debit balance, Debit increases the balance, credit reduce such balance

Advertising Expense: Expense, Debit balance, debit increases the balance, credit reduces such balance

Unearned Revenue: Liability, Credit balance, credit increases the balance, debit reduces such balance

Prepaid Rent: Asset, Debit balance, Debit increases the balance, credit reduces such balance

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The pursuit and accumulation of wealth is a core feature of the modern world. Yet throughout history man has expressed criticism

Scilla [17]

Answer:

As discussed below.

Explanation:

The pursuit and accumulation of wealth is no doubt a core feature of the modern world, as man does business for-profit motives and the formation of certain organizations and companies like the global, international, transnational and multinationals.

Thus has also been criticized as each and every investment has various risks associated with it.

The fact there exists some cautions and concerns about the accumulation of private property, privately owned lands and the space that they gather for the single individual as the case of various frauds and fugitives openly roaming in the market causing loss or dissolution of a financial asset of the government.

4 0

3 years ago

Merchandise inventory is Select one: a. None of the above b. Reported under the classification of Property, Plant and Equipment

Elden [556K]

Answer:

d. Reported as a current asset on the balance sheet

Explanation:

Merchant inventory refers to st finished goods available for sale at any given time. Merchant inventory is commonly referred to as inventory. It is recorded as a current asset in the balance sheet.

Merchant inventory is acquired through purchasing by retailers, wholesalers, and distributors to be sold to customers. Merchant inventory will specifically refer to the unsold goods at the end of a period. It is recorded at its acquisition cost. i.e., the cost which the trader paid to obtain the merchandise.

6 0

3 years ago

A firm has a profit margin of 12 percent; total asset turnover of 0.55 and an equity multiplier of 2.2. What is the firm's ROA a

lutik1710 [3]

Answer:

ROA = 6.6%

ROE 14.52%

Explanation:

profit margin = net income / sale = 12%

assets turn over = sales / assets = 0.55

equity mutiplier = assets / equity = 2.2

ROE = return on equity = net income / equity

ROA = return on equity = net income / assets

we use the fraction properties to get ROE and ROA

$\frac{income}{sales} \times \frac{sales}{Assets} =\frac{income}{Assets} \\ 0.12 \times 0.55 = 0.066\\$

ROA = 6.6%

We apply the same property to get ROE

$\frac{income}{assets} \times \frac{assets}{equity} =\frac{income}{equity} \\ 0.066 \times 2.2 = 0.14252\\$

ROE = 14.52%

6 0

3 years ago

a. Invest all $15,000 in the stock, buying 100 shares. b. Invest all $15,000 in 1,500 options (15 contracts). c. Buy 100 options

GREYUIT [131]

Answer:

See attached picture.

Explanation:

See attached picture for explanation.

3 0

3 years ago

how does the IoT and Big Data currently play into your job, your organization and the industry? Are these two things connected a

emmainna [20.7K]

<u>Explanation:</u>

The term IoT is an acronym for 'Internet of Things' which refers to a modern technology that allows certain physical objects or “things” as we may call it to connect to the internet.

While Big Data refers not just to large data, but to an innovative field of technology that specializes in analyzing very large (big) data sets.

Consider the education industry, by means of IoT, it is possible for school management to effectively track their student's academic progress in real-time.

IoT and Big Data connected in the sense that, as these physical things (objects) communicate over the internet, a mass amount of data ("Big Data") is been generated which could then be analyzed using specialized software. In other words, they are mutually beneficial.

4 0

3 years ago

1. Identify each account as an asset​ (A), liability​ (L), or equity​ (E).

1. Identify each account as an asset (A), liability (L), or equity (E).