Answer:
d. posting
Explanation:
There are various steps to prepare the financial statements. These are as follows:
1. Journalizing: It is a recording of business transaction with a narration in which the one account is debited and the other account is credited. It can be more transactions debited and credit that is depending upon the nature of the transaction.
2. Ledger posting: After recording the journal entries, the next step is to make the number of ledger i.e posting of the amount and the accounts to their respective ledger i.e sales ledger, purchase ledger, etc
3. Trial balance
4. Income statement
5. Statement of owners equity
6. Balance sheet
7. Cash flow statement
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hope this helps</span>
Answer: Sell their personal assets
Explanation: In the given case, James and Maria were the owners of a firm which has a partnership structure and not the company structure. As per the law, the owners and the firm in a partnership structure would not be considered as two separate legal entities.
In case of any default or liquidation , the personal assets of the owners of the firm could be taken into consideration for repayments of debt.
Hence Maria and Jamie can sell their assets to repay $37,500.
Answer:
c. Inferior
Explanation:
Based on the information provided it can be said that this behavior would indicate that to John, a bus ride is an inferior good. This term by definition is a good whose demand decreases when consumer's income rises. Since John received an increased salary with his promotion, he is now able to afford to be able to drive instead of taking the bus. Therefore his demand for taking the bus has drastically decreased.
Answer:
C) Sales Tax
Explanation:
The Government-wide Statement of Activities shows the revenues and expenses of the government and the general revenues indicate all the taxes, aid received from other governments and earnings from investments. According to that, the answer is that the option that is considered a source of general revenue in the Government-wide Statement of Activities is sales tax.
