Answer & Explanation:
Most balance sheets are arranged according to this equation:
Assets = Liabilities + Shareholders’ Equity
The equation above includes three broad buckets, or categories, of value which must be accounted for:
1. Assets
An asset is anything a company owns which holds some amount of quantifiable value, meaning that it could be liquidated and turned to cash. They are the goods and resources owned by the company.
Assets can be further broken down into current assets and noncurrent assets.
- Current assets are typically what a company expects to convert into cash within a year’s time, such as cash and cash equivalents, prepaid expenses, inventory, marketable securities, and accounts receivable.
- Noncurrent assets are long-term investments that a company does not expect to convert into cash in the short term, such as land, equipment, patents, trademarks, and intellectual property.
2. Liabilities
A liability is anything a company or organization owes to a debtor. This may refer to payroll expenses, rent and utility payments, debt payments, money owed to suppliers, taxes, or bonds payable.
As with assets, liabilities can be classified as either current liabilities or noncurrent liabilities.
- Current liabilities are typically those due within one year, which may include accounts payable and other accrued expenses.
- Noncurrent liabilities are typically those that a company doesn’t expect to repay within one year. They are usually long-term obligations, such as leases, bonds payable, or loans.
3. Shareholders’ Equity
Shareholders’ equity refers generally to the net worth of a company, and reflects the amount of money that would be left over if all assets were sold and liabilities paid. Shareholders’ equity belongs to the shareholders, whether they be private or public owners.
Just as assets must equal liabilities plus shareholders’ equity, shareholders’ equity can be depicted by this equation:
Shareholders’ Equity = Assets - Liabilities
— Courtesy of Harvard Business School
I hope this helped! :)
Answer: Business plan.
Explanation:
A business plan is a goal/objective set by a business that it intends to use to successfully enter into a market. The business plan provides a guide on how daily operations in a business can be handled to best achieve it's objectives.
Answer:
Accommodating
Explanation:
Accommodating is the term in business which means resolving the conflict through placing the concern of the others above of its own at the workplace.
For example, if the person is not agreeing to a point where all the other members of the team are agreeing on that, so accommodating is the kind of intention, which make the business successful by making that person agreeing on that.
So, in this case, Irma is not agreed with the procedure of operating for the new project. Therefore, in order to make the new operations smooth, Irma needs to accommodate himself.
Answer:
$154524
Explanation:
If a federal tax rate is 20% on all wages then we subtract that amount from the total wage of $206000 for the year
20% from $206000 is $41200
$206000 - $41200 = $164800
We have deducted the federal tax rate and got the amount $164800
After we apply the FICA tax rate of 7.65% on the amount $127200 we get
7.65% of $127200 is $9730,8 so the first amount we have to remember is
$127200 - $9370,8 = $117469,2
Regarding the amount that excess $127200 that amount stands at
$164800 - $127200 = $37600
We apply the 1.45% rate to the amount $37600
1.45% of the $37600 is $545,2 so the second amount we have to remember is
$37600 - $545,2 = $37054,8
We now simply add the two calculated amounts
$117469,2 + $37054,8 = $154524
So the net pay for the year is $154524
