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vladimir2022 [97]
3 years ago
5

The most recent comparative balance sheet of Giacomelli Corporation appears below: Which of the following classifications of cha

nges in balance sheet accounts as sources and uses is correct? Select one: a. The change in Accounts Payable is a source; The change in Accrued Wages and Salaries payable is a use b. The change in Accounts Payable is a use; The change in Accrued Wages and Salaries payable is a use c. The change in Accounts Payable is a source; The change in Accrued Wages and Salaries payable is a source d. The change in Accounts Payable is a use; The change in Accrued Wages and Salaries payable is a source
Business
1 answer:
Delvig [45]3 years ago
8 0

Answer:

The correct option is B: "The change in Accounts Receivable is a source; The change in Inventory is a use"

Explanation:

However, you will need to look at the asset section as well in order to determine the correct response to this question statement. Depending on how the accounts receivable and inventory changes, you will be able to ascertain which is a source and which is a use. For instance, if the balance in Accounts Receivable and the Inventory has increased, the change is a use. And vice versa.

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What are two features of a bond?
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Bonds have a maturity date, are perpetual, and pay a coupon rate.

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3 years ago
Read 2 more answers
ABC had a net income of $8,000, $5,000, $12,000, and $10,000 over the first four years of the company's existence. If the averag
Nezavi [6.7K]

Answer:

B) $23,000.

Explanation:

ABC's accumulated net income (or retained earnings) over the past four years = $8,000 + $5,000 + $12,000 + $10,000 = $35,000

ABC's accumulated dividends paid over the past four years = $3,000 x 4 = $12,000

Since dividends are paid using money that proceeds from retained earnings, the balance of the retained earnings account = accumulated retained earnings - accumulated dividends = $35,000 - $12,000 = $23,000

4 0
3 years ago
Kim, a CPA, works for a small accounting firm consisting of two managing partners, six accountants and four secretaries. During
galina1969 [7]

Answer:

The company is NOT in anyway required to either make, offer or provide accommodations to Kim

Explanation:

Based on the information given the company is NOT in anyway required to either make, offer or provide accomodations to Kim reason been that the ADA only tend to applies to companies which has either 15 employees or employees that are higher or more than 15 employees in which the accounting firm which Kim work for did not fall under the category as well as the coverage of the act because the accounting firm is a small firm which we were told consist of 2 managing partners, 6 accountants as well as 4 secretaries making them 12 employees in total.

Therefore the company is NOT required to provide any accomodations to Kim

4 0
2 years ago
Interest is the rate earned from a <br> stock share <br> savings account <br> deposit <br> loan
Law Incorporation [45]

Answer:

savings account

deposit

Explanation:

Interest is the money earned when deposits or savings stay in a financial institution for some time. Financial institutions such as commercial banks pay interests to encourage the public to save and keep deposits in their bank accounts. Interest earned is determined by the amount of deposit or saving, the interest rate offered, and the duration of time the money stayed in the bank.

A high-interest rate is attractive to the public as it earns more interest. Financial institutions compete for deposits and saving by offering better interest rates.

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3 years ago
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