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3 years ago

How has the steam engine changed over time?

1 answer:

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Steam engine brought about advancement in transportation and trade by powering locomotives and steamships which carried both goods and people to distant places in record time. Over the years, knowledge continue to increase and new inventions emerge, these include diesel and electric trains. Today, steam engines are no longer in use. Those that exist are used for historical, entertainment and educational purposes.

You might be interested in

Why is scarcity a fundamental problem in economics

KATRIN_1 [288]

Answer:

Scarcity or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants.

Explanation:

Society would produce, distribute, and consume an infinite amount of everything to satisfy the unlimited wants and needs of humans.

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2 years ago

A balance sheet that displays assets and liabilities into current versus noncurrent categories is commonly called a:________a) c

Semenov [28]

Answer:

c) classified balance sheet.

Explanation:

A classified balance sheet can be described as a balance sheet in which the information about assets, liabilities, and shareholders' equity of a company is presented by aggregating or classifying it into subcategories of accounts.

The advantage of a classified balance sheet is that it easier to read and it makes it easier for readers to obtain required information than when the information is just presented in a large number of line items.

The classifications mostly used within a classified balance sheet include Intangible assets, fixed assets (or Property, Plant, and Equipment), current assets, current liabilities, long-term liabilities, and shareholders' equity.

In accounting, the addition of these classifications is required to match the accounting equation stated as follows:

Total assets = Total liabilities + Shareholders' Equity

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3 years ago

The report of which agency states, "it is paradoxical that obesity is increasing in the us while more people are dieting than ev

allsm [11]

Institute of medicine.

Obesity is one of the main health issues for the USA. Obesity has multiple consequences not only on the obese person per se but also on the health system that has to deal with the multiple side effects of the obesity. This explains the paradox that the report of Institute of medicine is talking about, as the data for obese people increase as well as the data around the sales of dieting product.

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3 years ago

In spring of this year, Parmac Engineering Company signed a $480 million contract with the city of Parkersburg, to construct a n

elena-s [515]

Answer:

$192,000 million

Explanation:

Calculation for how much revenue should Parmac recognize in the current year

First step is to find the percentage of completion using this formula

Percentage of completion=Cost incurred/Total expected cost

Let plug in the formula

Percentage of completion=$144 million/$360 million

Percentage of completion=0.4*100

Percentage of completion=40%

Last step is to find the revenue recognized using this formula

Revenue recognized=Total contract *Percentage of completion

Let plug in the formula

Revenue recognized=$480 million*40%

Revenue recognized=$192,000 million

Therefore the amount of revenue that Parmac should recognize in the current year will be $192,000 million

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3 years ago

Construct a balance sheet for Sophie’s Sofas given the following data. What is shareholders’ equity? Cash balances = $10,000 Inv

Mrrafil [7]

Answer:

Balance Sheet of Sophie's Sofas for the year ended December 31th 20XX

Cash 10,000 Account Payable 17,000

Account Receivable 22,000 Long Term Debt 170,000

Inventory 200,000 Total Liabilities 187,000

Current Assets 232,000 Stockholders Equity 145,000

PPE 100,000

Total Assets 332,000 Total SE + Liab 332,000

Explanation:

We calculate equity using the accounting equation:

Assets = Liabilities + Equity

We add all the assets in one column, and the liab in another. Now, once we got these two, we calculate equity by subtracting:

332,000 - 187,000 = Equity = 145,000

6 0

3 years ago