Having clear standards helps promote fairness in all the following ways EXCEPT

Need help please <br> Financial statement and ratios quiz

eimsori [14]

Answer:

1734

Explanation:

3 0

3 years ago

Using the indirect method (statement of cash flows), a gain from the sale of equipment would: A) be subtracted from net income B

eimsori [14]

Answer:

The correct answer is A) be subtracted from net income

Explanation:

The indirect method involves the adjustment of net income with changes in balance sheet accounts to arrive at the amount of cash generated by operating activities.

It depends on the account if it is added or subtracted to net income.

A gain from the sale of equipment is subtracted from net income

7 0

3 years ago

Penny Lyman is the owner and operator of Go109, a motivational consulting business. At the end of its accounting period, Decembe

zalisa [80]

Based on the accounting equation, the amount for each case can be independently determined as follows:

a. The Penny Lyman, capital, as of December 31, 20Y1, is <u>$494,000.</u>

b. If assets increased by $88,000 and liabilities increased by $27,000, the Penny Layman, capital, as of December 31, 20Y2, is <u>$555,000</u>.

c. If assets decreased by $151,000 and liabilities increased by $13,000, the Penny Layman, capital, as of December 31, 20Y2, is <u>$330,000</u>.

d. If assets increased by $152,000 and liabilities decreased by $16,000 during 20Y2, the Penny Layman, capital, as of December 31, 20Y2, is <u>$672,000</u>.

e. Assuming that as of December 31, 20Y2, assets were $782,000, liabilities were $196,000, and there were no additional investments or withdrawals, and the capital remained $494,000 of 20Y1, then the net income or (loss) for 20Y2 is <u>$92,000</u> ($782,000 - $196,000 - $494,000)

<h3>Data and Calculations:</h3>

Assets at December 31, 20Y1 =$659,000

Liabilities = $165,000

Capital = Assets - Liabilities

= $494,000 ($659,000 - $165,000)

Assets = $747,000 ($659,000 + $88,000)

Liabilities = $192,000 ($165,000 + $27,000)

Capital = $555,000 ($747,000 - $192,000)

<h3>Question C:</h3>

Assets = $508,000 ($659,000 - $151,000)

Liabilities = $178,000 ($165,000 + $13,000)

Capital = $330,000 ($508,000 - $178,000)

<h3>Question d:</h3>

Assets = $821,000 ($659,000 + $162,000)

Liabilities = $149,000 ($165,000 - $16,000)

Capital = $672,000 ($821,000 - $149,000)

<h3>Question Completion:</h3>

a. Penny Lyman, capital, as of December 31, 20Y1. $

b. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets increased by $88,000 and liabilities increased by $27,000 during 20Y2. $

c. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets decreased by $151,000 and liabilities increased by $13,000 during 20Y2. $

d. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets increased by $152,000 and liabilities decreased by $16,000 during 20Y2.

e. Net income (or net loss) during 20Y2, assuming that as of December 31, 20Y2, assets were $782,000, liabilities were $196,000, and there were no additional investments or withdrawals.

Learn more about the accounting equation here: brainly.com/question/24401217

3 0

2 years ago

Executives of Company G receive high salaries and excellent benefits, in addition to stock options and numerous other perks. How

ss7ja [257]

Answer: Option (A) is correct.

Explanation:

Here, it's given that the shareholders believe jets be utilized for purposes which are in accordance with increasing the profits of Company G.

From the given comprehension the following must be true in order to support the reason behind shareholders' objection: <em>Company G executives usually utilize corporate jets for personal travel. </em>

Since utilizing organizations's corporate jet for private use won't increase it's profit. This explains why the shareholders had an objection to executives' use of the corporate jets.

6 0

3 years ago

Colleen didn’t have a lot of time to conduct her marketing research, so she went to the library to see what data she could find

tensa zangetsu [6.8K]

Colleen is using <u>secondary</u> data sources for her research.

<u>Explanation:</u>

A form of source of information, where an investigator includes data which another researcher has already obtained and analyzed, thus understood as "secondary data source".

In this method of data gathering the study is based on contrasting a variable to source information using the internet or books, rather than testing the variable. Since Colleen went to the library and online source of information from books, she used the secondary source of data. The primary source of data is when the investigator has gathered all data from the analysis of a variable.

5 0

3 years ago