Answer:
$332,000
Explanation:
Given that,
Liabilities = $87,000
Common stock = $ 145,000
Revenue = $ 462,000
Expenses = $ 318,000
Dividends = $ 44,000
Total assets = Liabilities + Common stock + Revenue – Expenses – Dividends
= $87,000 + $ 145,000 + $ 462,000 - $ 318,000 - $ 44,000
= $ 694,000 - $ 362,000
= $332,000
Therefore, the amount of Blue Spruce Company’s total assets is $332,000.
Answer:
True
Explanation:
Unlike Accrual basis accounting the cash basis method of accounting requires revenue to be recognized when performance obligations are settled rather than when they are incurred.
The major difference between cash and accrual accounting is in the timing of when transactions are taken account of. Whereas Accrual accounting recognizes transactions when they occur (i.e. expenses when they are incurred and revenue when they are earned) Cash accounting recognizes revenue and expenses only when cash is paid.
Papal was the first secure payment intermediary allowing anyone to pay with credit cards and bank accounts without sharing his or her financial information for online purchases.
A bank is a financial institution that has the authority to accept deposits and make loans. There are different types of banks such as retail banks, commercial banks, and investment banks.
The function of banks is to collect deposits from the public and lend them for the development of agriculture, industry, commerce, and commerce. Banks pay interest to depositors at lower interest rates and receive interest on loans at higher interest rates.
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