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2 years ago

When trying to assess your economic well-being you should:

Business

1 answer:

Alex_Xolod [135]2 years ago

5 0

Answer:

The correct answer is A

Explanation:

Economic well being is described or states as having the future as well as the present financial security. It involves the ability to make the choices of the economic and have a sense of satisfaction, security and the personal fulfillment with the one's employment pursuit and the personal finances.

So, in order to assess or evaluate the economic well being, one should compare the situation of his or her economic well being with that of most of the people who are alive today.

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1. Which advantage is not enjoyed by the owner of a sole proprietorship?

gayaneshka [121]

The correct answer to 1 is the ability to easily raise financial capital.

A sole proprietor is limited to the cash that they personally have, so this is a disadvantage when they need additional capital for the business.

The correct answer to 2 is that their personal property can be used to pay debts.

A partnership is personally responsible for the debts of the company. If the company owes money and cannot pay it, the partners that own the business are personally responsible.

The correct answer to 3 is the shareholders.

The shareholders are the owners of the corporation. They vote for a board of directors who in turn oversee the operation of the corporation.

8 0

3 years ago

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, (2) identify the

romanna [79]

Answer:

Please see explanation.

Explanation:

1. and 2.

Type of accounts Normal balance

a. Cash asset Debit

b. Legal Expense expense Debit

c. Prepaid Insurance asset Debit

d. Land asset Debit

e. Accounts Receivable asset Debit

f. Dividends equity Debit

g. License Fee Revenue revenue Credit

h. Unearned Revenue liability Credit

i. Fees Earned revenue Credit

j. Equipment asset Debit

k. Notes Payable liability Credit

l. Common Stock equity Credit

Journal entries to increase the balance:

Dr Cr

a. Cash Cash Revenue

b. Legal Expense Legal expenses Cash

c. Prepaid Insurance Prepaid Insurance Cash

d. Land Land Cash

e. Accounts Receivable Accounts receivable Revenue

f. Dividends Retained earnings cash

g. License Fee Revenue Cash License Fee Revenue

h. Unearned Revenue Cash Unearned revenue

i. Fees Earned Cash Fees Earned

j. Equipment Equipment Cash

k. Notes Payable Cash Notes Payable

l. Common Stock Cash Common Stock

7 0

3 years ago

Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $80 million of 8% bonds, dated January 1, on January 1, 202

denis-greek [22]

Answer:

A. 1-Jan-21

Dr Investment in Bond Dr $80.00

Cr To Cash $66.00

Cr To Discount on bond investment $14.00

B.30-Jun-21

Dr Cash $3.20

Dr Discount on bond investment $0.10

Cr To Interest revenue $3.30

C. 31-Dec-21

Dr Cash $3.20

Dr Discount on bond investment Dr $0.11

Cr To Interest revenue $3.31

D. $70 million Due to the change in market conditions

E. CASH FLOW FROM OPERATING ACTIVITIES:

Interest received $7.40 INFLOW

CASH FLOW FROM INVESTING ACTIVITIES:

Cash paid for purchase of investment -$66.00 OUTFLOW

Explanation:

a. Preparation of the journal entry to record Fuzzy Monkey's investment on January 1, 2021.

1-Jan-21

Dr Investment in Bond Dr $80.00

Cr To Cash $66.00

Cr To Discount on bond investment $14.00

(80-66)

(Being to record investment in bond )

b. Preparation of the journal entry by Fuzzy Monkey to record interest on June 30, 2021 (at the effective rate).

30-Jun-21

Dr Cash $3.20

($80 *8% * 6/12)

Dr Discount on bond investment $0.10

($3.30-$3.20)

Cr To Interest revenue $3.30

($66*10%*6/12)

(Being to record revenue recognition for bond interest and discount amortized)

c. Preparation of the journal entries by Fuzzy Monkey to record interest on December 31, 2021 (at the effective rate)

31-Dec-21

Dr Cash $3.20

($80 *8% * 6/12)

Dr Discount on bond investment Dr $0.11

($3.31- $3.20)

Cr To Interest revenue $3.31

[ $66+.1*(10%*6/12) ]

(Being to record revenue recognition for bond interest and discount amortized)

d. Based on the information given Fuzzy monkey will report its investment on December 31, 2021 balance sheet at fair value of the amount of $70 million reason been that we were told that because of the change in the market conditions, the fair value of the bonds at December 31, 2021, was the amount of $70 million.

e. Calculation for How would Fuzzy Monkey's 2021 statement of cash flows be affected by this investment

STATEMENT OF CASH FLOW (PARTIAL)

For 2021

CASH FLOW FROM OPERATING ACTIVITIES:

Interest received $7.40 INFLOW

($3.20+$3.20)

CASH FLOW FROM INVESTING ACTIVITIES:

Cash paid for purchase of investment -$66.00 OUTFLOW

3 0

3 years ago

Please be my dad? yes or yes?

iogann1982 [59]

Answer:

Explanation:

6 0

3 years ago

Read 2 more answers

An activity that relates to the strategy of transferring risk

Alenkasestr [34]

An example is the purchase of insurance policy. Make sure it's safe before doing it, because you never know what can happen! :3

-Mabel <3

7 0

3 years ago