All categories

3 years ago

"Finn Company reported assets of $1,000 and stockholders’ equity of $600. What amount will Finn report for liabilities?"

Business

1 answer:

FrozenT [24]3 years ago

4 0

Answer:

Liabilities = $400

Explanation:

The basic accounting equation that is used states that the value of total assets is always equal to the value of the sum of total liabilities and total equity. The we can state the equation as,

Assets = Liabilities + Equity

To calculate the value of liabilities, we input the available value of assets and equity in the equation.

1000 = Liabilities + 600

1000 - 600 = Liabilities

Liabilities = $400

You might be interested in

You pay $75 for a ticket to a Drake concert. You think the ticket is worth $100. The night before the concert your friend offers

lukranit [14]

Answer: $80

Explanation:

The opportunity cost is regarded as the real cost of the alternative that was left or forgone.

Based on the information given in the question, the opportunity cost is the free ticket to a Post Malone concert that is worth $80 which was given to me by my friend.

Therefore, the correct option is E.

5 0

3 years ago

The following table shows data for nominal GDP and the GDP deflator (2010 = 100) in 2013 and 2014 for six major industrial count

dolphi86 [110]

1. United States : 2013 real GDP 15,779.54, 2014 : 16,152.7

2. Canada : 2013 real GDP 1,738.66, 2014 : 1,781.96

3. Japan : 2013 real GDP 464,321.4, 2014 : 495,576.9

4. Italy: 2013 real GDP 1,549.08, 2014 : 1,539.33

5. Australia : 2013 real GDP : 1,473.74, 2014: 1,512.09

6. United Kingdom : 2013 real GDP : 1,642.37, 2014: 1,690.09

Inflation rate:

1. United States: 1.7%

2. Canada: 2.6%

3. Japan: 1.6%

4. italy: 1.0%

5. Australia: 0.28 %

6. United Kingdom: 1.62 %

5 0

3 years ago

What is the major purpose of a bank reconciliation statement?

lara31 [8.8K]

Purpose of a bank reconciliation statement.
A bank reconciliation statement is used to compare your record to those of your bank to see if there is difference between the two sets of records. The ending balance of your version of cash records is known as the book balance while the bank`s version is known as bank balance. It is common for there to be a difference in the two balances. The results to the differences might be due to overdrawn bank account, bounced checks and overdraft fees. It is important for you to check the difference because there might be substantial variance between the amount you think you have and that the bank thinks you have. In some cases the bank may even elect to close down your account.

3 0

3 years ago

5. A firm currently produces its desired level of output. Its marginal product of labor is 400, its marginal product of capital

gizmo_the_mogwai [7]

Answer:

Explanation:

Firms will hire more labor when the marginal revenue product of labor is greater than the wage rate, and stop hiring as soon as the two values are equal.

7 0

3 years ago

Shane, a sales manager, remarked that typically, her employees sincerely and positively overstate their job performance and abil

e-lub [12.9K]

Answer:

C) holier-than-thou

Explanation:

A holier than thou appeal refers to an attitude of superiority. It was originally used as a religious expression to show that someone was more "holy" or more religious than other people.

But this approach of feeling superior also takes place in a business when a member of the organization feels that his/her job is better and more important than the jobs and performance of the rest. It implies being super optimistic about your own abilities and capabilities, enough for them to diminish others.

E.g. how many times have you heard someone else say that if it was him/her that was doing something important, everything would be great and flow smoothly, because they are the best in doing this and that, and about everything else.

8 0

3 years ago