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Anon25 [30]
3 years ago
11

The following are the current? month's balances for ABC Financial? Services, Inc. before preparing the trial balance. Accounts P

ayable $ 7 comma 000 $7,000 Revenue 6 comma 000 6,000 Cash 3 comma 000 3,000 Expenses 16 comma 500 16,500 Furniture 10 comma 000 10,000 Accounts Receivable 11 comma 000 11,000 Common Stock ?? Notes Payable 4 comma 500 4,500 What amount should be shown for Common Stock on the trial? balance? A. $ 11 comma 500 $11,500 B. $ 23 comma 000 $23,000 C. $ 24 comma 000 $24,000 D. $ 44 comma 000 $44,000
Business
1 answer:
ale4655 [162]3 years ago
6 0

Answer:

B. $ 23 comma 000 $23,000

Explanation:

Following equation to calculate the common stock Value

Total Debit = Total Credit

40,500 = $17,500 + Common stock value

Common stock value = $40,500 - $17,500 = $23,000

<u>Accounts with Credit balances</u>

Accounts Payable       $7,000

Revenue                      $6,000

Common Stock              ?

Notes Payable              $4,500

Total Debit balances                    $17,500

<u>Accounts with Debit balances</u>

Cash                             $3,000

Expenses                     $16,500

Furniture                      $10,000

Accounts Receivable  <u>$11,000</u>

Total Debit balances                      40,500

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Answer:

Human resources.

Explanation:

Human resources. are the employees who work for a business

6 0
2 years ago
In 2003, Congress passed a substantial cut in income taxes. The Federal Reserve also substantially lowered interest rates. How c
s344n2d4d5 [400]

Answer:

D. The tax cut can be categorized as fiscal policy and the lowering of interest rates can be categorized as monetary policy.

Explanation:

Fiscal policy is when the government uses either taxes or government spending to influence the economy.

Contractionary fiscal policy is when the government increases taxes or reduces spending.

Expansionary fiscal policy is when the government decreases taxes or increases spending.

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Expansionary monetary policy is increasing money supply or decreasing interest rate.

I hope my answer helps you.

8 0
3 years ago
During November, the production department of a process operations system completed and transferred to finished goods 35,000 uni
azamat

Answer:

The number of equivalent units using the weighted-average method is 185,000.

Explanation:

Determine the number of units completed and transferred out.

Number of units  completed and  transferred out  = Units in beginning

+ Units started and completed during the month

=35,000+110,000

=145,000

​  

Therefore, the number of units completed and transferred out is 145,000 units.

It is given that the beginning units completed is 35,000, and the units started and completed are 110,000. They are added to calculate the number of units completed and transferred out. Therefore, the number of units completed and transferred out is 145,000 units.

----

Determine the number of equivalent units using the weighted-average method.

Equivalent units =  Number of units completed and transferred out +  Additional units in process  ×Percentagecompleted

=145,000+(40,000×100%)

=185,000

​

6 0
3 years ago
How did the invention of money as a medium of exchange affect the barter system?
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The barter system is a form of trading in which goods are exchanged directly for other goods without the use of money or as an intermediary, without a medium of exchange. The invention of money supplemented the barter system by providing a nonperishable medium of exchange.

4 0
3 years ago
Which answer applies to "fine print"?
Kay [80]

Answer:

D. All of the Above

hope this helps!

6 0
3 years ago
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