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daser333 [38]
3 years ago
14

Which of the following statement shows the financial position of a business entity as on date

Business
1 answer:
svlad2 [7]3 years ago
8 0

Answer:

b) balance sheet

Explanation:

Balance sheet: The assets liabilities and stockholder equity are reported in the balance sheet. The accounting equation that is displayed  below is used in this:

Total assets = Total liabilities + stockholder equity

The balance sheet debit and credit side should always be equal and balanced.  

In addition, it is always prepared on the date specified plus it is also reflects the financial position, financial performance of the company.

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You have a credit card bill from ABC Credit for a total of $3,754. Please group the transactions within the appropriate T-Accoun
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Credit card bill from ABC credit have listed a number of expenses made, these needs to be posted according to the relevant accounting heads.

<h3 /><h3>What is Accounting?</h3>

Accounting is the calculation of cash, in other terms it is the study of debit and credit. The accounting teaches the treatment of different transactions, the transactions are divided in different heads, asset, expense, income, liability and capital.

T Accounts should be made as follows.

Assets

DR $1500 Computers

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Expenses

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DR $250 Electric Company

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The expenses are distributed among the heads that they are relevant to, petty expenses only contains the payment for expenses that are immaterial in nature and amount, Asset account have the payments made for assets.

Learn more about Credit card at brainly.com/question/27123519

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6 0
1 year ago
Assume Mercy Hospital underestimated the provision for bad debts and contractual adjustments reported on its December 31, 2015 i
attashe74 [19]

Answer:

If the hospital underestimated its bad debt, that means that they are overestimating their profits. The cash flow is determined using the income statement, so it will also be overestimated. But at some point reality will catch up and the actual cash flow will be less than expected, since bad debts reduce actual revenue.

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3 years ago
A product development team has a basic product idea that has been given to them, and their current task is to develop some attra
Tresset [83]

Answer:

D Answer.

Explanation:

3 0
2 years ago
Read 2 more answers
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