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soldi70 [24.7K]
3 years ago
8

Your parents tell you that they must create a personal balance sheet. Explain what a personal balance sheet is and explain the t

hree steps they must use in its creation.
Business
1 answer:
Zinaida [17]3 years ago
3 0
A balance sheet is an essential way to evaluate for a business. 2. Calculate Assets

Assets, money, investments and products the business owns that can be converted into cash: These are what put companies in the financial positive. A thriving company should have assets that are greater than the sum of its liabilities; this creates value in the company’s equity or stock, and opens up opportunities for financing.

It’s important to list your assets by their liquidity—the facility by which they can be turned into cash—starting with cash itself and moving into long-term investments at the end of the list. For the purpose of an annual balance sheet, you can separate your list between “Current Assets,” anything that can be converted into cash within a year or less, and “Fixed Assets,” long-term possessions that can be sold or that retain value down the line, minus depths and other things. 

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At January 1, 2017, Benny Enterprises reported a balance in the Equipment account of $45,000. During the year the company purcha
zhannawk [14.2K]

Answer:

$4,000

Explanation:

The operating activities records daily activities of a business entity transactions such as depreciation expense, loss or profit on sale of long term assets, change in working capital etc.

With regards to the above scenario, there is a loss of $4,000 on the sale of equipment whilst same was recorded under the operating activity section as positive.

It is to be noted that the sale and equipment of an equipment falls under investing activity section hence shod be recorded therein as such, reason it was not considered here.

6 0
3 years ago
Olde Shoppe has the following information at August​ 31: times Two deposits made on August 31 were not on the bank​ statement, t
Reika [66]

Answer:

The adjusted book balance at August​ 31 is $13,824

Explanation:

The computation of the book balance is shown below:

= Cash balance + EFT payment on a note receivable +  interest on the note - forgot to record check -  check printing service fee  - NSF check

= $11,667 + $2,830 + $150 - $643 - $80 - $100

= $13,824

The remaining transactions would be adjusted to bank balance

3 0
3 years ago
Vast creative specialises in styling and art direction in the advertising industry.the management of vc wants to change the stru
babunello [35]

Explanation:

Resistance to change occurs when there is some kind of change in the organization, such as changes in the structure of the business, changes in teams, technologies, etc.

This is because there is insecurity in employees, often due to lack of sufficient information about the change and fear of not being able to adapt.

To eliminate employee resistance, company managers must communicate how the change will occur and why it is necessary, listing the positives of the changes and the benefits it will bring to the organization, enabling feedback so that employees feel included and their perception be positive.

5 0
3 years ago
Which of the following best describes civil procedure?
jeyben [28]

Answer:

The correct answer is D

Explanation:

Civil procedure is the body of law which sets or lay down the standards and the rules that the court follow when adjudicating or examine the civil lawsuits.

The rules are govern on how a case or a lawsuit is commenced, kind of pleadings, orders allowed in civil cases. So, it best stated with the process issued in the civil lawsuit.

5 0
3 years ago
You are a rookie police officer and are riding with a Field Training Officer (FTO). During your shift the FTO stops at a conveni
seraphim [82]

Answer:

I will report the Field Training Officer to the higher authority.

Explanation:

If I was rookie police officer and are riding with a Field Training Officer (FTO) and he was drinking while on duty, I would report it, because he is endangering my life and his and others around us. It is important to note that irrespective of previous evaluation or submission made on me by the FTO, it is unethical for any trained police officer to take any amount of alcoholic drinks while on duty. Because when someone is under the influence of beers, he/she does not function effectively and may act abnormally.

7 0
3 years ago
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