Answer:
c. 99.73%
Explanation:
Statistical Empirical Rule states the percentage of values that lie within a band around the mean in a normal distribution.
The rule also called as 68 - 95 - 99.7 rule depicts the proportion of under mentioned data covered within following range of standard deviation from mean:
- Mean <u>+</u> standard deviation = 68.27% data of the normal distribution
- Mean <u>+</u> (2 x standard deviation) = 95% data of the normal distribution
- Mean <u>+</u> (3 x standard deviation) = 99.73% data of the normal distribution
Credit represents money that is available to be borrowed. Meaning, you can buy things with the use of credit card with borrowed money. Your card company will pay for your purchases but when your card statement arrives, it will pay for the borrowed money. Debt, on the other hand, represents money that was borrowed and that has not yet been paid back. Credit is the ability to create debt.
Answer:
<u>BALANCE SHEET</u>
<em>ASSETS </em>
Cash 1410
Accounts Receivable 950
Prepaid insurance 110
Stock investments 1290
Inventory 1107
Equipment 2560
Accumulated Depreciation Equipment -670
Land 3240
TOTAL ASSETS 9997
<em>LIABILITIES</em>
Accounts Payable 884
Income tax payable 185
Mortgage payable 3640
Notes payable 201
Salaries and wages payable 272
TOTAL LIABILITIES 5182
NET EQUITY
Retained earnings (beginning) 1600
Common stock 1320
Dividends -375
<em>Net Income 2270
</em>
TOTAL NET EQUITY 4815
TOTAL LIABILITIES+TOTAL NET EQUITY 9997
<u>INCOME STATEMENT</u>
Sales revenue 5240
Cost of goods sold -1110
Gross Profit 4130
Salaries and wages expense -650
Insurance expense -260
EBITDA 3220
Depreciation expense -285
EBIT 2935
Interest expense -450
EBT 2485
Income Tax expense -215
<em>NET INCOME 2270</em>
Explanation:
According to the accounting equation the total of the assets should be equal to the sum between the liabilities and net equity. One of the components of the net equity is the net income that can be visualized in the final line of the income statement.
When Darla prepares her company's balance sheet, she should include accounts receivable in the list of current assets. Option D
<h3>What are
accounts receivable?</h3>
Generally, Accounts receivable, also known as AR or A/R, are claims for payment that are legally enforceable that are held by a firm for products delivered or services performed that consumers have requested but have not yet paid for. The abbreviation for accounts receivable is accounts receivable.
The money that consumers owe a firm for products or services that they have received but have not yet paid for is referred to as the company's accounts receivable.
For instance, the amount that is owed by consumers who buy things on credit is added to the accounts receivable when such customers make their purchases.
In conclusion, When Darla is putting out the balance sheet for her firm, she needs to make sure that the list of current assets includes accounts receivable. The D Option
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CQ
when darla prepares her company's balance sheet, she should include ___ in the list of current assets. a. land b. equipment c. leased property d. accounts receivable
