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3 years ago

Which of the statements correctly represents the accounting equation?

Business

1 answer:

Anna007 [38]3 years ago

6 0

Answer:

What the accounting equation tells us is that everything that a firm owns, it acutally either owes it to the owners of the firm, or to creditors.

Explanation:

This is why the accounting equation is represented as:

Assets = Liabilities + Stockholders' Equity

Where Assets represent what the firm owns, liabilities is what the firm owes to creditors, and Stockholders' Equity (or Owners' Equity) is what the firm owes to the owners.

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Please list 3 New Years Resolutions and explain why you chose these.

My name is Ann [436]

Answer:

get better at outdoor skills, do more exploration, go sky diving

Explanation:

out door skills for survival situations more exploration cause its a fun way to get in exercise and sky diving cause its cool

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3 years ago

rialto company collected $5,000 on account. what impact will this transaction have on the firm's current ratio

VikaD [51]

Answer:

There would be NO IMPACT

Explanation:

From the question, we are informed about, rialto company collected $5,000 on account. In this case there will be no impact of this transaction on the firm's current ratio. The collection on account can be regarded as exchange of asset transaction, any increase change in current asset account cash, then there will be decreases in Accounts Receivable , the ration of current asset to current liabilities gives the current ratio, there is no impact of transaction on the current ratio, since the transaction doesn't affect both the

current asset to current liabilities

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3 years ago

Calculate the present values for the perpetuity: (1) Annual amount $20000, discount rate 8% (2) Annual amount $10000, discount r

Aleksandr [31]

Answer:

Present value calculator calculates the PV of a single amount. ... of illustration, you would rather receive $10,000 today rather than wait a year. ... This rate-of-return calculator solves for the ROR for one invested amount. ... Enter the calculated present value, the discount rate as the annual interest rate ... advertisement 2 short.

Explanation:

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3 years ago

Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this

Ipatiy [6.2K]

Answer:

a. $32,039

b. $19,439

c. -$12,961

d. $9,639

Explanation:

We will use accounting equation to solve the above question.

Assets = Liabilities + Equity

Also;

Net income will be the difference in equity plus dividends minus contributions

= [Ending equity - Beginning equity ] + Dividends

Since the beginning and ending equity is the same for all the years, then we'll have

$71,500 = $30,652 + Equity

Equity = $40,848

Ending equity = $122,500 - $49,613

= $72,887

a. Income : $72,887 - $40,848 + 0 - 0

= $32,039

b. $72,887 - $40,848 + $1,050 × 12 - 0

= $19,439

c. $72,887 - $40,848 + 0 - $45,000

= -12,961

d. $72,887 - $40,848 + $1,050 × 12 - $35,000

= $32,039 + $12,600 - $35,000

= $9,639

6 0

3 years ago

What is work?

bekas [8.4K]

Work refers to any useful activity.

5 0

3 years ago

Read 2 more answers