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3 years ago

Using the expanded accounting equation, solve for the missing amount

Business

1 answer:

AveGali [126]3 years ago

6 0

Answer:

The expanding accounting equation is:

Assets = Liabilities + Stockholders Equity

[Common Stock + Retained Earnings]

(Revenues - Expenses - Dividends)

Now, we replace the amounts in the formula

$84,325 = $2,560 + X

[ X + R ]

($54,780 - $28,125 - $13,450)

$84,325 = $2,560 + X

[ X + R ]

($54,780 - $28,125 - $13,450)

$84,325 = $2,560 + X

[ X + $13,205 ]

$84,325 = $2,560 + X

[ 68,560 + $13,205 ]

$84,325 = $2,560 + $81,765

Both sides are now equal to $84,325

Thus, Common Stock = $68,560

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Answer:

Explanation:

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3 years ago

Explain how firms decide how much labor to hire to produce a certain level of output

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3 years ago

A customer sells short 100 shares of ABC stock at $30 as an initial transaction in a margin account. The customer must deposit:

Ber [7]

Answer:

The best answer is C.

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3 years ago

The value of what you owe minus what you owe is called

aliina [53]

Hey there!

I think you meant to type "value of what you <em>own</em> minus what you owe". Let me know if this assumption isn't correct, though I don't know what the value of what you owe is besides... ya know, what you owe.

The value of what you own is called you assets. This can include anything of value that you own, particularly your pricier possessions. Think of a vintage family heirloom or a highly–priced article of clothing. Assets, though, includes the value <em>everything</em> that you own that you could possibly put a price tag on if you were certain someone would buy it.

What you owe is called your liability. This is basically any debt that you owe anyone, whether it be your buddy who footed your lunch bill the other day when you didn't have enough cash or a student loan you used to pay for college.

Your assets minus your liability is called your net worth. This is basically what you are worth in total. This makes sense, since any debt you owe will be taken out of the amount that you are worth or any money that you have.

Net worth will be your answer.

Hope this helped you out! :-)

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3 years ago

Presented below are a number of transactions. Determine whether each transaction affects common stock, dividends, revenue, expen

marin [14]

Answer:

(a) It affects expense account.

(b) It affects Revenue account.

(d) It affects Expense account.

(e) It affects Dividend account.

(f) It affects Revenue account.

(g) It affects Expense account.

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(i) It affects Common stock account.

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3 years ago