1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Aleonysh [2.5K]
4 years ago
6

Use EMBG's adjusted trial balance to EMBG's balance sheet for the current year-end

Business
1 answer:
Vinil7 [7]4 years ago
5 0

Answer:

EMBG Corporation

Balance  Sheet

For year ending December 31, 2016

Assets:                                                                     $376,000

  • Cash $44,000
  • Accounts receivable $28,000
  • Equipment, net $304,000

Liabilities

  • Notes payable $60,000            

Equity

  • Common stock $130,000
  • Retained earnings $186,000

Total liabilities + equity                                             $376,000

net income = $326,000 - $44,000 - $116,000 - $42,000 = $124,000

retained earnings = previous balance + net income = $62,000 + $124,000 = $186,000

You might be interested in
Because of the employing party's lack of control over the individual, which of these is not classified as an employee?
timofeeve [1]

Because of the employing party's lack of control over the individual, Independent contractor is not classified as an employee.

<h3>Who is an Independent contractor?</h3>

An independent contractor is an self-employed person or an organization contracted to perform work or provide services to another organization as a non-employee. As a result, independent contractors  pay their own Social Security and Medicare taxes.

In addition, legal entities using the services of an independent contractor are not required to provide them with employee benefits, such as employer-sponsored health insurance and  retirement accounts, that the legal entity may otherwise provide to its employees. Payers must correctly classify each payee as  an independent contractor or employee. Another term for an independent contractor is "freelancer."

To learn more about Independent contractor from given link

brainly.com/question/7429981

#SPJ4

6 0
2 years ago
Some economists believe that a sales tax increase affects which group the MOST?
VladimirAG [237]

Answer:

the lower class

Explanation:

they will lose money for necessities

5 0
3 years ago
Assume the market for ball bearings is purely competitive. Currently, each of the firms in this market is earning positive econo
AleksandrR [38]

Answer: Given, the ball bearing market is purely competitive. Also at the current stage the firms in this market are earning positive economic profits.

Therefore , in the long run as adjustments occur in the industry, we can expect the market price of ball bearings to<em><u> </u></em><u><em>decrease and individual firms' profits to decrease.</em></u>

This will take place as new firms will enter the market once they analyze that the existing firms are earning positive economic profits. Thus this will lead to decrease in price of ball bearing and further will lead to decrease in profit os a firm.

<u><em></em></u>

<u><em>Therefore, the correct option is (d)</em></u>

3 0
4 years ago
What's the difference between current balance and available balance?
pickupchik [31]
Your current balance<span> is the amount of money in your account at the beginning of a business day. This amount does not include any pending deposits or withdrawals. Your </span>available balance<span> is your </span>current balance<span> minus any pending debit card purchases, automatic drafts, processing checks or other debits from your account</span>
5 0
3 years ago
Flexible budgets Group of answer choices are static budgets that have been revised for changes in price(s). accommodate changes
Varvara68 [4.7K]

Answer: accommodate changes in activity levels.

Explanation:

A flexible budget is refered to as the budget which changes based on the actual activity. It accommodate changes in activity levels.

It is the budget which is allowed to be adjusted as a result of the change in the assumptions that's used in the creation of the budget during the planning process of the management.

7 0
3 years ago
Read 2 more answers
Other questions:
  • The April 30 bank statement for Trimble Corporation shows an ending balance of $40,262. The unadjusted cash account balance was
    7·1 answer
  • Both nike and adidas standardize many of their shoe models and colors worldwide, which is an example of _______.
    12·2 answers
  • Are there more client computers or more server computers on the internet? why?
    6·1 answer
  • If the minority price for a single share of stock of a company is $20, if there are 500 thousand shares of stock, and a person o
    6·1 answer
  • 1. marginal change in total cost resulting from an action 2. marginal benefit change in total benefit resulting from an action 3
    15·1 answer
  • Distributors of cigarettes earn some monopoly profits in their local markets but see them slowly erode as substitutes enter the
    9·1 answer
  • QUESTION 13
    12·1 answer
  • Florida real estate what ways can a relationship be terminated
    11·1 answer
  • August 23,800 units September 22,500 units October 23,900 units November 25,100 units December 24,800 units The company wants to
    6·1 answer
  • Inventories held for sale in the normal course of business are classified in the balance sheet as?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!