An account is defined as a record of the business activities related to a particular item. The given statement is true.
Business activities can be divided into three categories: operating, investing, and financing. The cash flow statement includes a list of the cash flows that were generated and used by each of these operations. Net income on an accrual basis is supposed to be reconciled to cash flow in the cash flow statement.
Manufacturing, storage, accounting, sales, mergers and acquisitions, the issue of securities, etc. are some examples of business activities. The prompt completion of these tasks enables the businesses to survive and compete in the market.
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Answer:
Change in Assets is $127,500
Explanation:
The accounting equation for a corporation is:
Assets = Liabilities + Stockholders' Equity
⇒ Liabilities = Assets - Stockholders' Equity
= $285,000 - $130,500
= $154,500
At the end of years,
- Liabilities amount = Liabilities in the beginning + Change in liabilities = $154,500+ $90,000 = $244,500
- Stockholder's equity amount = Stockholder's equity + Change in stockholder's equity = $130,500 + $37,500 = $168,000
The assets at the end of year = $168,000 + $244,500 = $412,500
Change in Assets = $412,500 - $285,000 = $127,500
Shorter answer:
Change in Assets = Change in Liabilities + Change in Stockholders' Equity
= $90,000 + $37,500 = $127,500
Answer:
Gasoline is a normal good
Explanation:
Normal goods are goods that are goods whose demand increases when income increases and falls when income falls
Inferior goods are goods whose demand falls when income rises and increases when income falls.
Because the demand for gasoline falls when income falls, gasoline is a normal good.
I hope my answer helps you
The answer would be D. Think of his nice clothing and gold. This shows that this person has a lot of money, showing success.
Answer:
The principal balance is $151,573
Explanation:
For computing the principal balance, we need the following calculation which is shown below:
1. First we have to compute the 1 month interest payment which equals to
= Note amount × rate × 1 month ÷ total months in a year
= $152,000 × 14% × 1 ÷ 12
= 1773.33
2. Now deduct the first month interest from installment amount which equals to
= Installment amount - Interest amount
= $2,200 - $1773.33
= $426.67
3. Now subtract step 2 amount from notes amount which equals to
= Notes amount - principal amount
= $152,000 - $426.67
= $151,573.33
Hence, the principal balance is $151,573
