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vekshin1
3 years ago
15

All of the following describe a balance sheet except which one? A. The balance sheet reflects the results of multiple transactio

ns. B. The balance sheet contains assets, liabilities, and owner’s equity sections. C. The balance sheet is a picture of a business in financial terms. D. The balance sheet contains only assets and liabilities sections.
Business
1 answer:
jasenka [17]3 years ago
4 0
The answer to this question would be D the balance sheet contains only assets and liabilities sections
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Good friends, bernie and latasha, both studied accounting in college. recently, they decided to work together as co-owners of a
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This is an example of a partnership 
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In her research paper, Kirstein copied a few paragraphs from a renowned author's work verbatim without placing them within quota
Effectus [21]

Answer:

Word-for-word.

Explanation:

Word for word plagiarism is seen to be an unethical form of writing where the said student or researcher is seen to copy a fellow researchers works verbatim and particularly word for word with also quotation marks too. In as much as this is a bad form for writers, people are always seen to commit themselves in still doing it. This can cause a lawsuit in some places depending on the researcher whose work is been stolen/copied.

In all, it is been tagged an act of intellectual dishonesty which comes with uneasy consequences when it is done to a wrong person; a plagiarized assignment may lead to a failing grade, a suspension, or an expulsion.

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Can the government tell its citizens what they can and cannot do as long as their actions do not impinge on the rights of other
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If they are terrorist or had a very criminal background
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3 years ago
em Industries is a division of a major corporation. Last year the division had total sales of $23,800,000, net operating income
cupoosta [38]

Answer:

(a) 12.20%

(b) 3.40 times

(c) 41.48%

Explanation:

(a). The formula of division's margin is shown below:

It shows a ratio of net operating income and total sales

= Net operating income ÷ total sales

= $2,903,600 ÷ $23,800,000

= 12.20%

(b) The formula of division's turnover is shown below:

It shows a ratio of  total sales and average operating assets

= Total sales ÷ Average operating assets

= $23,800,000 ÷ $7,000,000

= 3.40 times

(c) The formula of division's return on investment is shown below:

It shows a ratio of net operating income and average operating assets

= Net operating income ÷ average operating assets

= $2,903,600 ÷ $7,000,000

= 41.48%

Hence,

(a) 12.20%

(b) 3.40 times

(c) 41.48%

6 0
3 years ago
The following are transactions and events of the general fund of Sycamore Hospital, a not-for-profit entity, for the 20X6 fiscal
BigorU [14]

Answer:

1. Dr Accounts receivable 6,600,000

Cr Patient services revenue 6,600,000

2. Dr Nursing services expense 2,100,000

Dr Other professional services expense 1,280,000

Dr Fiscal services expense 230,000

Dr General services expense1,520,000

Dr Bad debts expense 138,000

Dr Administration expense250,000

Dr Depreciation expense 480,000

Cr Cash 4,794,000

Cr Allowance for uncollectibles 138,000

Cr Accumulated depreciation 480,000

Cr Accounts payable 213,000

Cr Inventory 210,000

Cr Donated services 163,000

3. Dr Patient services revenue210,000

Cr Accounts receivable210,000

4. Dr Cash 200,000

Cr Net assets released from program use restrictions 200,000

5. Dr Cash 230,000

Cr Net assets released from equipment acquisition restriction 230,000

6.Dr Cash 150,000

Cr Contributions-Unrestricted 150,000

7. Dr Cash 6,455,000

Cr Allowance for uncollectibles 65,000

Cr Accounts receivable 6,390,000

8. Dr Investment securities 90,000

Cr Unrealized holding gain on investment securities 90,000

Explanation:

Preparation of the Journal entries for Sycamore Hospital.

1. Since we were told that the company Provided a total of the amount of $6,600,000 in patient services this means that the transaction will be recorded as:

Dr Accounts receivable 6,600,000

Cr Patient services revenue 6,600,000

2. Based on the information given we were told that the company had total operating expenses of the amount of $5,998,000 which means that the transaction will be recorded as:

Dr Nursing services expense 2,100,000

Dr Other professional services expense 1,280,000

Dr Fiscal services expense 230,000

Dr General services expense1,520,000

Dr Bad debts expense 138,000

Dr Administration expense250,000

Dr Depreciation expense 480,000

Cr Cash 4,794,000

Cr Allowance for uncollectibles 138,000

Cr Accumulated depreciation 480,000

Cr Accounts payable 213,000

Cr Inventory 210,000

Cr Donated services 163,000

3. Since we were told that Allowed contractual adjustments was the amount of $210,000 which is a deductions from gross patient revenue, which means that the transaction will be recorded as:

Dr Patient services revenue210,000

Cr Accounts receivable210,000

4. Based on the information given we were told that the company received a transfer of the amount of $200,000 for the payment of approved operating costs which means that the transaction will be recorded as:

Dr Cash 200,000

Cr Net assets released from program use restrictions 200,000

5. Since the company received a transfer of the amount of $230,000 from the temporarily restricted plant fund in order to purchase new equipment for the hospital, this means that the transaction will be recorded as:

Dr Cash 230,000

Cr Net assets released from equipment acquisition restriction 230,000

6.Since the company received the amount of $150,000 of unrestricted gifts, this means that the transaction will be recorded as;

Dr Cash 150,000

Cr Contributions-Unrestricted 150,000

7. Since the company collected accounts receivable except for the amount of $65,000 which was written off, this means that the transaction will be recorded as:

Dr Cash 6,455,000

(6,390,000 +65,000)

Cr Allowance for uncollectibles 65,000

Cr Accounts receivable 6,390,000

(6,600,000-210,000)

8. Based on the information given we were told that the company reported the amount of $90,000 as an increase in the market value, this means that the transaction will be recorded as:

Dr Investment securities 90,000

Cr Unrealized holding gain on investment securities 90,000

8 0
3 years ago
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