Following Adjustments are being shown below.
<u>Which two accounts are affected ?</u>
<u>What kind of accounts are they? </u>
<u>Do the account balances increase or decrease? </u>
<u>Do we debit or credit the accounts? </u>
Since insurance is paid in advance for the upcoming six months, the account that will be debited will be a prepaid insurance account.
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Answer:
Matching Statements to Appropriate Terms:
Price-earnings ratio = Profitability Ratio
Return on Assets = Profitability Ratio
Accounts Receivable Turnover = Liquidity Ratio
Earnings per share = Profitability Ratio
Payout ratio = Profitability Ratio
Working capital = Liquidity Ratio
Current ratio = Liquidity Ratio
Debt to Assets = Solvency Ratio
Free Cash Flow = Solvency Ratio
Explanation:
Profitability Ratios are one of the classes of financial metrics that measure a business's ability to generate earnings relative to its revenue, operating costs, assets, or shareholders' equity during a period of time.
Liquidity Ratios measure the ability of the company to pay its maturing short-term debt obligations from its current assets. They include the working capital, the current ratio, and the acid-test ratio.
Solvency Ratios measure the ability of the company to pay its maturing long-term debt obligations from its assets.
Goldsmiths increased money supply by cheating out their competitors, and being the best at what they did.
Answer:
CORPORATION
Explanation:
Sole Proprietorship, Partnership are business owned & managed by a single owner, group of partners sharing profits.
Both of these business forms, entrepreneur(s) liability is unlimited , implying their assets can be at stake if business assets are insufficient to fulfil its liabilities. Although, there can be certain special limited liability partnership firms also , but the general case is explained as earlier.
However: Corporation is a separate legal entity from its owners, governed by board of directors . Owners & Corporation being separate entities, there is no pressure on the former's assets to fulfil the latter's claims. So , the owners liability is limited , only confined to the amount they have invested.
