Shareholders' Equity = Assets – Liabilities where the rearrangement reflects the residual claim of equity owners.
Answer:
C. A typical industrial company's balance sheet lists the firm's assets that will be converted to cash first, and then goes on down to list the firm's longest lived assets last.
Rhetorical explanation or definition.
Here, the reader is supposed to agree with the author's sentiments and negative opinion of taxation (through the use of the "charged" words such as oppressive and hard-earned). Rhetorical explanations often convey a certain feeling for the reader; here, the reader feels the negative and unjust feelings regarding taxation.
Structure will give employees more clarity, help manage expectations, enable better decision-making and provide consistency.
Answer:
The Journal entry with their narrations shown below:-
Explanation:
The Journal Entry is shown below:-
1. Petty cash Dr, $271
To Cash $271
(Being establishment of petty cash fund is recorded)
2. Freight-in Expenses(delivery charges) Dr, $76
Supplies expenses Dr, $41
Postage expenses Dr, $49
Loan to employees (Accounts receivable) Dr, $33
Miscellaneous expenses Dr, $52
Cash short and over Dr, $8
To Cash $259
($271 - $12)
(Being disbursement of cash is recorded)
3. Petty cash Dr, $116
To cash $116
(Being increase in petty cash is recorded)
