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soldier1979 [14.2K]
2 years ago
10

A _______ account represents the basic financial position elements of the accounting equation and a _______ account keeps track

of the changes in the retained earnings component of shareholders' equity.
Business
1 answer:
bezimeni [28]2 years ago
7 0

Answer:

Balance Sheet

Statement of Changes in Shareholders equity

Explanation:

A Balance Sheet account represents the basic financial position elements of the accounting equation and a Statement of Changes in Shareholders Equity account keeps track of the changes in the retained earnings component of shareholders' equity.

A balance sheet in financial accounting, is a statement of financial position or statement of financial condition which shows all the assets, liabilities, and capital of a profit or not-for-profit organization at a given date.

A statement of changes in shareholders equity is a financial statement that shows a summary of all movements that took place in shareholders' equity accounts within a reporting period. It is in a nut-shell a reconciliation of the opening balances of equity accounts with their closing balances.

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Hillside issues $2900000 of 9% 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. T
DaniilM [7]

Answer:

Dr. Cash                                                 $3,549,590

Cr. Premium on Account Receivable  $649,590

Cr. Bond Payable Account                   $2,900,000

Explanation:

The difference between the face value of the bond and the sale value of the bond is known as premium or the discount on the bond. If the face value is higher from the sale value the bond is issued on the discount and if the sale value of the bond is higher than the face value the bond is issued on the premium.

Premium on the Bond =  Face value - Sale value = $3,549,590 - $2,900,000  = $649,590

The Premium will be amortized during the life of the bond  to maturity and deducted from the interest expense.

3 0
3 years ago
Who lowered interest rates on government bonds in order to create a fund to pay an annual sum to the survivors of the emigres wh
REY [17]

Answer:

Charles X

Explanation:

Charles X was a king of France between 1824 and 1830 and for the greater part of his life was known as the Count of Artois. During his reign as king, Charles X, whose full name is Charles Phillipe, lowered interest bonds to create funds to pay survivors of the emigres who forfeited their lands. He also restores primogeniture(the right of succession of the throne by first borns). He also enacted the law of death or imprisonment for sacrilege in his support of the Roman Catholic Church.

Cheers.

5 0
2 years ago
Which of the following charts would be best to draw out the movement of people or material?
masya89 [10]

Answer:

c) Flow diagram.

Explanation:

Flow diagram also known as a flowchart can be defined as a visual representation or an activity diagram which is typically used to illustrate or demonstrate the simple sequence of actions or movements within a complex process and workflow. A Flow diagram would be best to draw out the movement of people or material.

Generally, a flowchart or flow diagram makes use of symbols such as rectangle, oval, diamond, arrow to represent the steps, flow or sequence of a complex system.

3 0
3 years ago
Who dismissed congress's plan to spend $40 billion to end the depression, saying it was impossible to "squander our way to prosp
Blababa [14]

The answer is President Herbert Hoover. His approach to depression were:

1.       He tried to restore confidence in the economy by asking business not to cut payrolls and labor not to ask for higher wages. Most of them initially agreed until 1931.

2.       He also cut taxes and pressed the Federal Reserve Board to cut interest rates to make borrowing easier.

3.       He procured $2 billion for public works projects.

4.       He established the Reconstruction Finance Corporation and the Home Loan Bank Act to assist businesses and head off some foreclosures but he was a fiscal conservative who said we couldn't "squander our way to prosperity," and so he disparate further spending plans.

3 0
3 years ago
Read 2 more answers
"The price (P) of designer jeans is affected by the supply (S) and the demand (D).
katovenus [111]
The correct answer is <span>B. Demand for more pairs of jeans results in an increase in both price and quantity supplied.

You can see that demand is increasing since d2 is on the right of d1. You can also see that prices increase since p2 is greater than p1. You can also see that quantity supplied also increases since q2 is on the right of q1.</span>
3 0
3 years ago
Read 2 more answers
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