No, it is not considered the first page. The cover page is not really essential, but authors add it because of convention. All of the books ever written had a cover page. It is already a culture. However, the first page begins with the exact content of the topic of which a book is written about.
The net change in cash formula can be this easy:
Add the two cash inflows and subtract the cash outflows.
So In here we have;
Cash inflows from operations = $60,500
Cash inflows from financing = $25,000
Cash outflows from investing activities = $47,000
$60,500 + $25,000 - $47,000 = $38,500
The net change in cash was $38,500
Answer:
1.
Cash + Supplies = Accounts Payable + Pat Glen Capital - drawings + sales commission - Salaries Expense - Rent expense - automobile expense - supplies expense - misc expense
$25,000 + $1,850 = $1,850 - $1,200 + $25,000 - $4,000 + $41,500 - $5,000 - $3,600 - $3,050 - $900 - $1,600
Explanation:
Income Statement :
Sales Commission $41,500
Rent expense $3,050
Misc Expense $1,600
Supplies expense $900
Salaries Expense $5,000
automobile expense $3,600
Expense Total $14,150
Net income $27,350
Answer:
Must be offset by an equal increase in liabilities and stockholders' equity
Explanation:
Accounting Equation is stated as :
Asset = Equity + Liabilities
thus
<em>The Left Hand Side must always equal the Right Hand Side.</em>
therefore,
An increase in total assets: must be offset by an equal increase in liabilities and stockholders' equity.
