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zubka84 [21]
3 years ago
5

What are the three primary sources of assets?The three primary sources of assets are(1) investments by owners (issue of stock),(

2) borrowing from creditors, and(3) earnings activities.
Business
1 answer:
ANEK [815]3 years ago
5 0

Answer:

True

Explanation:

The three main sources of assets for a business are:

  1. investments by owners (total paid in capital), refers to the money that the owners are willing to invest in the company and it should be used to finance operating activities.
  2. borrowing from creditors, refers to both long term and short liabilities that allow the company to increase their assets, e.g. merchandise or equipment purchased on credit, or a loan.
  3. earnings activities, refers to the company's retained earnings from previous years that is reinvested in new or existing projects.
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Clampett, Inc. converted to an S corporation on January 1, 2018. At that time, Clampett, Inc. had cash ($40,000), inventory (FMV
Lubov Fominskaja [6]

Answer

The answer and procedures of the exercise are attached in image below.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

7 0
3 years ago
Cost of Direct Materials Used in Production for a Manufacturing Company
strojnjashka [21]

Answer:

$855,000

Explanation:

The Raw Materials T - Account can be used to determine the cost of direct materials used in production using the missing balance technique as follows :

Raw Materials T - Account

Debit :

Beginning Balance                                               $279,000

Purchases                                                             $828,000

Total                                                                     $1,107,000

Credit :

Ending Balance                                                    $252,000

Transferred to Production (<em>Balancing figure</em>)     $855,000

Total                                                                     $1,107,000

3 0
3 years ago
responsibility for setting all audit standards to be followed on audit of public companies rests with the .
stira [4]

Responsibility for setting all audit standards to be followed in the audit of public companies rests with the NGOs.

<h3>Who is responsible for setting auditing standards?</h3>

Certified public accountants receive standards, guidelines, auditing, attestation, and quality control statements from the Auditing Standards Board (ASB) (CPAs). It is the senior technical committee of the AIPCA, and its job is to create generally accepted auditing standards (GAAS) for private companies.

The auditor has a duty to prepare and carry out the audit in order to get a reasonable assurance regarding the absence of a major misstatement, whether brought on by fraud or error.

In order to reduce audit risk, the Public Company Accounting Oversight Board (PCAOB), a nonprofit organization, regulates audits of publicly traded corporations. In order to address the accounting crises of the late 1990s, the PCAOB was founded concurrently with the Sarbanes-Oxley Act of 2002.

Learn more about The Audit here:

brainly.com/question/14652228

#SPJ4

7 0
2 years ago
Marketing researchers should collect information on consumers only for the purpose of
lubasha [3.4K]
Marketing researchers should collect information on consumers only for the purpose of conducting marketing research. It is not the researchers job to sell products to a group they are collecting data on. The researchers then pass this information on the company so they can develop a marketing plan for their product/service. 
3 0
3 years ago
Kathleen's company produces computer monitors and other peripheral devices for computers. About six months ago, Kathleen began t
harina [27]

Answer:

A. Productivity at the work site has increased.

Explanation:

According to my research, based on the information provided within the question it can be said that the productivity at the work site has increased. This is because the same amount of workers that were handling the stores output began to handle the new increased work site's output six months later. Therefore they are having better productivity in the same amount of time worked.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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