Answer:
Total current assets = $697,750
Explanation:
The partial balance sheet is as follows:
Waterways Corporation
Balance Sheet (Partial)
For the month of November 2016
<u>Details $ $ </u>
<u>Current Assets</u>
Cash 260,000
Accounts Receivable 275,000
Finished Goods Inventory, November 68,800
Raw Materials Inventory, November 52,700
Prepaid Expenses <u> 41,250 </u>
Total current assets 697,750
Note:
Cash is the most liquid of assets.
Accounts receivable which should be collected within 30 to 60 days are less liquid than cash, but more liquid than inventory.
Finished Goods Inventory which is expected to be sold and converted to cash within one year, and Raw Materials Inventory which is expected to be converted to finished good within one year are more liquid than Prepaid expense.
Therefore, the least liquid among current assets’ item above is the Prepaid Expense as it is cash paid for services not yet received..
Answer: d) involve farming out value chain activities presently performed in-house to outside specialists and strategic allies.
Explanation: Outsourcing strategies are employed when a company believes that outsiders can often perform certain activities better or more inexpensively thus allows the company to focus its entire energies on its core competencies or business. Thus, it involves farming out value chain activities presently performed in-house to outside specialists and strategic allies, reduces the company's risk exposure to changing technology and/or changing buyer preferences and allows it to leverage its key resources.
Answer: e. Decreases asset and expense accounts, and increases liability, common stock, and revenue accounts.
Explanation:
Let's evaluate each of the options as follows:
a. Is always a decrease in an account - This is false because a credit entry increases liability, common stock and revenue accounts.
b. Is recorded on the left side of a T-account - Although in modern day accounting, the use of T-account has been relegated to the background. However, if entries are to be recorded using the T-account, all debits are posted to the left side while all credits are recorded on the right side of the account.
c. Increases asset and expense accounts, and decreases liability, common stock, and revenue accounts - It does not increase asset and expense accounts, rather it reduces them. The opposite applies to liability, common stock, and revenue accounts.
d. Is always an increase in an account - This is false.
Therefore, option e is correct because a credit entry reduces asset and expense accounts, and increases liability, common stock and revenue accounts.
Answer:
sole proprietorship
Explanation:
A sole proprietorship is the most common form of business organization. It's easy to form and offers complete control to the owner
Answer:
if anyone do something wrong