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! :)
The correct option is C) Washington, D.C.
By 2015, the foreclosure rate was down by 20%. The metropolitan statistical areas showing the highest percentage of improvement included all of the following except "Washington, D.C".
<h3>What is
foreclosure rate?</h3>
The process of foreclosure starts when a borrower is unable to make their mortgage payments. When a mortgage is foreclosed, the lender normally seizes the property and makes an effort to sell it. This occurs when real estate is utilised as security for mortgage loans, making your house a form of security.
The given are the ways to avoid Foreclosure-
- Ask For Forbearance: As you may remember, forbearance enables borrowers to temporarily suspend mortgage payments while they recover their savings, boost their income, or pay down debt in the wake of financial troubles.
- Apply For A Refinance: Refinancing into a more manageable payment can prevent you from going into default on the loan if you're worried about going through with a foreclosure. This regrettably isn't a possibility for everyone since it can only really be done if you haven't missed a payment.
- Ask For A Mortgage Reinstatement: If you experienced temporary financial issues that have subsequently disappeared, speak with your servicer to learn about your alternatives.
- Apply For A Short Sale: Selling your house for less than what is owed on the mortgage is known as a short sale. This requires the lender's approval, and all of the sale's proceeds will go to the lender.
To know more about fastest-growing foreclosure rates, here
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The complete question is -
By 2015, the foreclosure rate was down by 20%. The metropolitan statistical areas showing the highest percentage of improvement included all of the following EXCEPT
A) Los Angeles.
B) Miami.
C) Washington, D.C.
D) Atlanta.
Washington, D.C.
Answer:
($3,000)
An outflow
Explanation:
The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.
The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.
In cash flow statements, an increase in assets(other than cash) is treated as a cash outflow while a decrease is considered as an inflow of cash.
Hence if accounts receivables balance increases from $45,000 i 2018 to $48,000 in 2019, the change of $3,000 will be shown as an outflow.
I guess the correct answer is Product development
3M involves its customers in the process of developing new products. In this way, it can benefit from current customers' insights and develop new products that will meet these customers' needs. 3M is pursuing a Product development growth strategy.
Answer:
a. Issued for Cash = ($312,000 * 12/12) + ($29,700 * 8/12)
= $312,000 + $19,800
= $331,800
b. Issued in a stock dividend: Shares issued in the stock dividend are assumed outstanding from the beginning of the year
= ($312,000 * 12/12) + ($29,700 * 12/12)
= $312,000 + $29,700
= $341,700
