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Readme [11.4K]
3 years ago
7

Assume that, after analyzing its business transaction, a firm has the following ending balances: accounts payable $3,400, accoun

ts receivable $2,000, cash $1,000, capital $3,600, equipment $3,000, prepaid rent $600, and supplies $400. What is the total amount of assets that will be reported on the firm’s balance sheet?
Business
1 answer:
Lady_Fox [76]3 years ago
8 0

Answer:

Total Assets = $7,000

Explanation:

Total assets are sum of fixed and current assets

Fixed assets = Assets held for a period more than a year.

Here Equipment is fixed asset with a value of $3,000

Current Assets = Accounts Receivable, Cash balance, Prepaid rent, Supplies

= $2,000 + $1,000 + $600 + $400

=$4,000

Total assets = $3,000 + $4,000 = $7,000

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Which of the following promotion mix approaches involves a producer promoting a product to different channel members who in turn
bulgar [2K]

Answer:

Push strategy

Explanation:

A Push strategy is originated from the push and pull concept in the logistics. This strategy refers to the concept of producers pushing their products into different channels and then those channels will further market and advertise their products. This strategy is one of the various channel strategies that is used by producers.

One of the example would be Walmart which uses push strategy over pull.

I hope the answer is helpful. Thanks for asking.

6 0
3 years ago
A dividend is _____.
guajiro [1.7K]
I think it is C.Money a company shares with stockholders.
8 0
3 years ago
Read 2 more answers
A business ____ is the way a company operates to generate revenues and remain a viable entity.
antoniya [11.8K]
I think the missing word is Plan but I'm not sure.
7 0
3 years ago
Larkspur, Inc. reports net income of $91,800 in 2022. However, ending inventory was understated $7,800. What is the correct net
dezoksy [38]

Answer:

$99,600

Explanation:

If the ending inventory was understated that means that they have less of the inventory than they had originally expected, this means that they sold more than they have calculated and therefore have not included the $7,800 in the net income. Therefore, we would need to add this amount to the actual reported net income to get the correct net income for 2022...

$91,800 + $7,800 = $99,600

The correct net income for 2022 is $99,600

3 0
3 years ago
Allegheny Company ended 2015 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $58,000 and $2,700, res
Nady [450]

Answer:

$6,500

Explanation:

Allowance for doubtful accounts is a reduction in the total amount of accounts receivable given in the company´s balance sheet. Such an allowance is actually and estimate from the management of the accounts receivables that it doesn´t expect to receive.

Ecuation:

Adjustment =  - Beginning balance + Write offs + Ending balance

Adjustment = ($2,700) + $4,800 + $4,400

Adjustment =  $6,500

The estimation of the write off from the previous year must be discounted, the added the write off registered during the year plus the estimate at the end of the period.

6 0
3 years ago
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