Answer: A trial balance is a bookkeeping worksheet in which the stability of all ledgers are compiled into debit and savings account column totals that are equal. The typical purpose of producing a trial stability is to ensure the entries in a company's bookkeeping device are mathematically correct.
Explanation:
Answer:
65 firms will be in the industry at the new long run equilibrium
Explanation:
in the long run the P=ATC
quantity before the change is
200 = 1000-4Q
4Q = 800
Q= 200
each firm output = Q/number of firms = 200 / 50
q = 4
new quantity is
200 = 1240-4Q
4Q = 1040
Q = 260
number of firms=new Q/q
=260/4 = 65
the number of firms is 65 in the long run.
Answer: $237070
Explanation:
The amount that Novak should report as its December 31 inventory will be:
Inventory in hand = $190,000
Add: Goods bought from Pelzer Corporation = $25,170
Add: Cost of goods sold to Alvarez Company = $21900
Total = $237070
The amount that Novak should report as its December 31 inventory will be $237070
Answer:
The correct answer is (c)
Explanation:
Business Corporation is a separate business entity that is controlled by elected group members know as the board of directors. They are responsible for business activities and they usually seek for long term profits. This separate entity is controlled by shareholders. Overall, they aim for a broader mission without maximising shareholders profit. Business corporations usually reinvest dividends and profits to improve and expand.
Answer:
b. <u>cash, investments, and receivables, inventories, prepayments</u>
Explanation:
Financial assets refer to liquid assets which derive their value from ownership rights and claims. For example, bonds, mutual funds, etc are financial assets.
In the given case, cash, investments, receivables, inventories, prepayments (prepaid expense) etc are liquid assets and current assets which can be readily converted to cash. Investments could be both short term and long term.
Investments in treasury bonds are highly liquid.
Capital assets are usually those assets with maturity period of more than one year and unlike current assets are not intended for sale.
