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3 years ago

The finance balance sheet is

Business

1 answer:

Scorpion4ik [409]3 years ago

3 0

Answer:

A) the same as the accounting balance sheet, but it is based on market values.

Explanation:

The finance balance sheet is same as the accounting balance sheet but it is based on market value.

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Exercise 6-31 (Algorithmic) (LO. 3) Stanford owns and operates two dry cleaning businesses. He travels to Boston to discuss acqu

jekas [21]

,Answer:

See below

Explanation:

With regards to the above, since the restaurant was not acquired, the cost that is related to acquisition of restaurant will be ignored. It means that the $35,750 will not qualify for deduction.

Also, the expenses for considering the bakery $53,700 will not be allowed all at once.

Now, for any amount exceeding $50,000 there will be a reduction of $5,000

Reduced = $53,700 - $50,000 = $3,700

Then,

$5,000 - $3,700 = $1,300 deductions

Now,

$53,700 - $1,300 = $52,400 which is the deduction allowed in 180 months

Deduction per month = $52,400 / 180 = $291.11. Per month

Deduction for 2 months will be = 2 × $291.11 = $582.22

Therefore, eligible deduction = $582.22 + $1,300 = $1,882.22

4 0

3 years ago

At the end of the recent year, The Gap, Inc., reported total assets of $7,610 million, current assets of $4,315 million, total l

borishaifa [10]

Explanation:

The formula to compute the current ratio is shown below:

Current ratio = Total Current assets ÷ total current liabilities

where,

Total current assets = $4,315 million

And, the total current liabilities is $2,453 million

So, the current ratio is

= $4,315 million ÷ $2,453 million

= 1.76 times

Since the current ratio is greater than the 1.76 times that reflects that company have a liquidity position and it is able to pay its short term obligations

3 0

3 years ago

Independent auditing can best be described as:________. A. A regulatory function that prevents the issuance of improper financia

Elden [556K]

Answer:

C. A discipline that enhances the degree of confidence that users can place in financial statements.

Explanation:

Independent auditing includes the process of auditing by an independent auditor. It involves the process of analyzing and examining the financial transactions and records. The company's accounts, the business records, the transactions are all monitored and audited so as to avoid any unprecedented act. It do not indulge any means of profit in the whole process. Independent auditing is adopted by the shareholders in order to protect from any sort of frauds or unacceptable claims made in terms of financial records.

8 0

3 years ago

Use the following information to compute NET INCOME.

maks197457 [2]

Answer:

c. $1,890

Explanation:

As for the provided information, we have

Net income is the income after allowing expenses of every nature, and after taxes, but does not include the dividend as is not an expense but allocation or distribution of profits.

Thus net income shall be as follows:

Sales - Expenses

Sales = $10,000

Expenses = $4,000 + $1,100 + $1,750 = $6,850

Profit before taxes = $3,150

Less: Taxes @ 40% = $1,260

Net Income = $1,890

Correct option is

c. $1,890

5 0

3 years ago

Suppose GDP is $16 trillion, with $10 trillion coming from consumption, $2 trillion coming from gross investment, $3.5 trillion

jonny [76]

Answer:

The correct answer is option D.

Explanation:

NDP or net domestic product is calculated by deducting depreciation from GDP or gross domestic product.

Gross domestic product is the measure of final goods and services produced in an economy in a given time period, generally a year.

Gross domestic product will be the sum of consumption, investment, government expenditure and net exports.

NDP

=GDP-Depreciation

=$(16-1)

=$15 trillion

So, NDP is $15 trillion.

6 0

3 years ago