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3 years ago

A personal net worth statement lists income and expenses.true or false

Business

1 answer:

swat323 years ago

8 0

False.A person's net worth statement shows a person's net worth based on assets and liabilities Done through:

Assets- money or items of value (car, house)

Liabilities- debts you owe (loans)

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A company acquires a subsidiary and will prepare consolidated financial statements for external reporting purposes. For internal

NemiM [27]

Answer:

It is a relatively easy method to apply.

Explanation:

When accounting for a subsidiary, equity method is followed, whenever the shareholding percentage is equal or more than 20%.

But here, the parent company uses, initial value method for internal reporting.

Under initial value method the value of investment in subsidiary is recorded at cost, and then adjusted at year end at fair value, this clearly shows the gain or loss at each year end from such investment as per market norms.

There is no statutory requirement to follow such initial value method for internal reporting.

The correct reason therefore, is:

It is a relatively easy method to apply.

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3 years ago

Returning workers confront creepy time capsules of pre-pandemic life

UkoKoshka [18]

The main idea of this article is to expose the space that workers found when returning to their workplaces after isolation from the pandemic.

The article talks about the workplaces that had particular aspects after having been alone for 18 months of isolation due to the pandemic. For example:

There was spoiled food that was left there 18 months ago.
Calendars for the first months of the year 2020.

This situation originated because the workers carried out their daily work routine and did not contemplate being forced to isolate themselves for prevention to acquire the virus of the pandemic of the year 2020.

This question is incomplete because the question is missing. The question is:

What is the main idea of the article?

Learn more in: brainly.com/question/2655465

4 0

3 years ago

An entity has two long-term construction contracts, one of which qualifies for revenue recognition while the performance obligat

Morgarella [4.7K]

Answer: construction receivable

Explanation:

Accounts receivable management involves improving the collection process for efficiency, identifying the reasons for nonpayment and being proactive in reminding clients about their overdue accounts.

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3 years ago

Read 2 more answers

Refurbish, Inc. bought 1,000 shares of its own stock at $8 a share. Later, it reissued the shares for $10,000. The effect of the

IRINA_888 [86]

Answer:

$10,000 increase in stockholder equity

Explanation:

The buying of treasury stock reduces the balance of stockholder equity but when the treasury stock is reissued or we can say after purchase, the sale of treasury stock is done for $10,000. So, it increases the balance of stockholder equity

It means that the purchase of treasury stock has an adverse impact on stockholder equity whereas reissued shares have a positive impact on stockholder equity

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3 years ago

Palepu Company owns and operates a delivery van that originally cost $38,080. Straight-line depreciation on the van has been rec

Readme [11.4K]

Answer and Explanation:

The computation is shown below;

But before that the depreciation expense per year is

Depreciation per year = (Cost - Residual value) ÷ Useful life

= ($38,080 - $2,800) ÷ 6 years

= $5,880

1.Net book value as on disposal date is

= $38,080 - ($5,880 × 3)

= $20,440

We know that

Gain on sales = (Sales - Book value)

Gain = $(20,400 - 20,400) = 0

a. Loss = $13,000 - $20,440 = -$7,440

b. Loss = $10,000 - $20,440 = -$10,440

4 0

2 years ago