Answer:
Balance sheet
Explanation:
Balance sheet: In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:
Total assets = Total liabilities + stockholder equity
The debit and credit side of the balance sheet should always be equal and balanced.
Moreover, it always is prepared on the specified date.
It analyzes the financial profitability, position, performance of the business organization
Answer:
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Explanation:
Answer:
Ethics Hotlines
Explanation:
There are various ways in which employees can report bad behaviour at workplace, Ethics hotline is one such mechanism. It is used by most of the countries in US. It is a phone line that an employee can uses to report bad behaviour. The employees identity is kept secret to prevent retribution from angry peers. Inappropriate behaviour, sexual harassment and financial abused can be reported via ethics hotline.
Answer:
B The payment will not result in the employing firm being banned from doing municipal securities business with State B because it was made based on a personal relationship.
Explanation:
The rule of de minimis applies to persons making donations to candidates vying for elective positions. $250 de minimis is applicable to a person who will vote for a candidate in an election. If a person will not vote for the candidate, the de minimis is $150.
In this case, the MFP will not be voting for the candidate. She is allowed to donate only $150. Any excess will be refunded. However, since the MFP is making the donation on his personal capacity, the firm as a separate entity will not be penalized for what the MFP does with her money. It is likely that the firm does not even do contracts with the municipality. However, they are not based in the same area.
Answer with its Explanation:
Transaction 1: The purchase of equipment is increase in the fixed assets and as the amount paid is in cash, the decrease in cash asset will also be with the same amount. This means the net effect on assets will be zero.
Accounting Equation is given as under:
Fixed Assets + Current Asset = Equity + Liability
Equipment 318,770 - Cash $318,770 = Zero Net Effect
Transaction 2: The increase in the equity will increase the current asset as well here, which means:
Fixed Assets + Current Asset = Equity + Liability
Current Assets + $139,050 = Issued common stock + $139,050
Transaction 3: The purchase of inventory on account means that the current asset would be increased and the payables will increase with the same amount. The effect on the accounting equation is given as under:
Fixed Assets + Current Asset = Equity + Liability
Current Asset + $70,94 = Current liabilities + $70,940
