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3 years ago

Indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3) owner’s equity:_______.

Business

1 answer:

ale4655 [162]3 years ago

7 0

Answer:

a. accounts payable -liability

b. cash -asset

c. fees earned -owner’s equity

d. land -asset

e. supplies -asset

f. wages expense- owner’s equity

Explanation:

Accounts payable is an obligation payable to the supplier,hence,it is a liability.

Cash is an asset of the business which is used in purchasing other assets such as inventory or trading securities.

Fees earned would increase retained earnings which is an integral part of the owner's equity

Land is a long-lived asset whose benefits would be derived in more than one year.

Supplies are assets of the business which are used in the business.

Wages expense reduces retained earning in owner's equity

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1 year ago

List two examples of items that could be used as collateral for a secured loan.

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2 years ago

Consider a no-load mutual fund with $390 million in assets and 15 million shares at the start of the year and with $440 million

Lyrx [107]

Answer:

20%

Explanation:

The computation of rate of return on the fund is shown below:-

Net assets value at the beginning = Total assets ÷ Number of shares

= $390 million ÷ 15 million

= $26 million

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= ($440 million - ($440 million × 2%)) ÷ 16 million

= ($440 million - $8.8 million) ÷ 16 million

= $26.95 million

Now,

Rate of return = (Net assets value at the end of the year - Net assets value at the end of the year + Income distribution + Capital gain distribution) ÷ Net assets value at the beginning

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3 years ago

Jake, a store keeper at Triscent Hypermarket, is accused of stealing food products from the store. When confronted by his manage

hoa [83]

Answer:

Rationalisation

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3 years ago

Profit motive and a sense of __________ act as powerful incentives for many entrepreneurs. A. power

dimaraw [331]

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3 years ago