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2 years ago

The accounts payable account is listed in the chart of accounts as an asset. True False

Business

1 answer:

mafiozo [28]2 years ago

6 0

Answer:

False

Explanation:

Payables are payment the business is expected to make. Money comes from the company and goes to third parties. Payables represent goods and services obtained from suppliers, but payments have not been made. They are debts that the business owes others.

Because payables are money that the business owes others, they are listed as liabilities. Liabilities are the debts that a business acquires as it engages in its regular activities. Assets are the items of value that a business own. Payables are not assets as they are financial obligations the company is expected to meet.

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A brick fence straddles the property line of two neighbors. The neighbors agree not to damage it in any way. This is an example

Vadim26 [7]

Answer:

A party wall

Explanation:

A party wall

A Party wall which sometimes also called a parting wall is referred to that wall which is used or shared by both property owners. The purpose of this wall is to separate the two adjoining owners, therefore, thickness varies from 9 to 12 inches. Party wall agreement need to signed between both sharing owners to make any repair work on the party wall.

4 0

2 years ago

The common stock of the P.U.T.T. Corporation has been trading in a narrow price range for the past month, and you are convinced

mariarad [96]

Answer:

A) according to put call parity:

price of put option = call option - stock price + [future value / (1 + risk free rate)ⁿ]

put = $8.89 - $120 + [$120 / (1 + 8%)¹/⁴] = $8.89 - $120 +$117.71 = $6.60

B) you have to purchase both a put and call option ⇒ straddle

the total cost of the investment = $8.89 + $6.60 = $15.496, this way you can make a profit if the stock price increases higher than $120 + $6.60 = $126.60 or decreases below than $120 - $6.60 = $113.40

3 0

2 years ago

In a small economy, consumption spending in 2009 is $6,000, government spending is $1,200, gross investment is $1,500, exports a

icang [17]

Answer:

the gross domestic product is $9,700

Explanation:

The computation of the gross domestic product is shown below

= Consumption spending + government spending + gross investment + exports - imports

= $6,000 + $1,200 + $1,500 + $2,000 - $1,000

= $9,700

Hence, the gross domestic product is $9,700

We simply applied the above formula so that the correct value could come

And, the same is to be considered

5 0

2 years ago

Rushmore Company provided services for $45,000 cash during Year 1. Rushmore incurred $36,000 of operating expenses on account du

laila [671]

Answer:

The amount of the net income shown on the income statement is $9,000

Explanation:

The computation of the net income is shown below:

Net income = Services provided for cash = operating expenses incurred

= $45,000 - $36,000

= $9,000

According to the matching principle, the revenues of a particular period should always be matched with the expenses that are incurred in that particular year

So, the net income that is to be reported on the income statement is $9,000

Note: Options are shown in the attachment

6 0

2 years ago

An employee earns $5,550 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400

Klio2033 [76]

Answer:

$4,713.425

Explanation:

The computation of amount of net pay for the employee for the month of January is shown below:-

Deductions = (Gross earning × Social security tax rate) + (Gross earning × Medicare tax rate) + Federal income taxes + Health insurance + Contribution of retirement plan

= ($5,550 × 6.2%) + ($5,550 × 1.45%) + $184 + $152 + $76

= $344.1 + $80.475 + $184 + $152 + $76

= $836.575

Net pay = Gross earning - Deductions

= $5,550 - $836.575

= $4,713.425

Therefore for computing the net pay we simply applied the above formula.

3 0

2 years ago