Answer:
The correct answer to the following question is option A) Identifying - Recording - Communicating .
Explanation:
An accounting process can be defined as series of activities which begins with identifying a transaction and ends with books closed. This process is also called accounting cycle because this process is done every financial reporting period. Here the first step would be to identify a transaction, then getting source document of transaction ready, after that classifying the transaction , then recording it by making journal entries, which would then lead to preparation of ledger, trial balance and other financial statements etc.
If a person has a house worth $100,000, a mortgage of $90,000, savings of $5,000, a car valued at $10,000, a $7,000 car loan, an
Ludmilka [50]
Answer:
$15,000
Explanation:
A person's net worth is the difference between their total assets and total liabilities.
In this case,
<u>Assets are </u>
House $100,000
Savings $5,000
Car $10,000
<u>Total assets</u>= $115,000
<u>Liabilities</u>
mortgage of $90,000,
car loan $7,000
credit card debt $3,000
<u>Total liabilities</u>= $100,000
Net worth = Total assets - Total liabilities
=$115,000 - $100,000
=$15,000
Answer:
$2,068
Explanation:
As per given data
Cost of Cages = $206,790
Accumulated depreciation = $186,111
Selling Price = $18,611.10
Sale price of Asset is compared with the net book value of that asset to calculate the gain or loss arising from the sale of asset.
Net book value is the net value of the cost of asset and the accumulated depreciation of that asset.
Net Book Value = Cost of Cages - Accumulated depreciation
Net Book Value = $206,790 - $186,111 = $20,679
Selling Price = $18,611.10
Loss on Sale of asset = $20,679 - 18,611.10 = $2,067.9
Answer:
1 st - Save the workbook file to your hard drive - saving things first is always good.
2nd - Ask your network administrator to give you permission to access the folder - of course you need permission so you have to ask.
