1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
coldgirl [10]
3 years ago
7

Following is an extract of account balances of Wilson Mowing Services as of December 31 of the first year of operation. Accounts

Receivable $7,000 Accounts Payable 4,000 Salaries Expense 6,000 Repairs Expense 500 Truck 8,000 Equipment 10,000 Notes Payable 8,100 Cash 7,300 Supplies Expense 1,400 Service Revenue 35,000 Gasoline Expense 3,800 Salaries Payable 300 What is the amount of total assets at the end of the year
Business
1 answer:
Nataly [62]3 years ago
8 0

Answer:

$32,300

Explanation:

With regards to the above, the amount of total assets is the addition of current assets + Fixed assets.

= Accounts receivables + Cash + Truck equipment

= $7,000 + $7,300+ $8,000 + $10,000

= $32,300

Therefore ,

Total assets = $32,300

You might be interested in
Who controls the supply for coffee shops and based on what factors
andrezito [222]

Answer:

Explanation:

Market prices control the supply for coffee shops, not only that but also it is also affected by other factors with things like: price of inputs, and how much it cost to make, and technology developments

3 0
3 years ago
Research has found that for many products, including soft drinks, coffee, and cosmetics, consumers are unable to distinguish amo
Leona [35]

The correct answer is routine problem solving. Routine problem solving is being defined as having to associate at least one arithmetic operations or even a ratio in regards to solving problems that are likely to be practical in nature or in the environment.

3 0
3 years ago
Read 2 more answers
When the Fed buys​ $100 worth of bonds from a primary​ dealer, reserves in the banking system A. increase by more than​ $100. B.
ruslelena [56]

Answer:

The correct answer is D.

Explanation:

The fed buys $100 worth of bonds from a primary dealer. The fed will pay the dealer for these bonds. This will cause an increase in the total reserves by $100. The money supply will increase by more than $100. The extent of increase in the money supply depends on the required reserve ratio. This is an example of an expansionary monetary policy.

4 0
2 years ago
Eurocurrency is the euro, the common currency of Europe. is a time deposit of money in an international bank located in a countr
Leona [35]

Answer:

is a time deposit of money in an international bank located in a country different from the country that issued the currency.

Explanation:

In economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.

Simply stated, money refers to any asset which can be used to purchase goods and services by customers.

This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.

Additionally, the rate at which an asset can be used to purchase any goods or services refers to its liquidity. Thus, liquidity is a quality or characteristics of money as a medium of exchange. Therefore, money is a generally accepted medium of exchange around the world.

The three (3) main functions of money all over the world are;

I. Medium of exchange.

II. Unit of account.

III. Store of value.

The European System of Central Banks (ESCB) which was established under the Treaty on European Union (TEU).

It comprises of the European Central Bank (ECB) and the national central banks of all the 27 European Union (EU) member states, irrespective of adopting the Euro (£) or not. This has helped the European Union (EU) member states to achieve tight corporations and memorandum of understanding (MOUs) such as TARGET2 (single payment system).

Eurocurrency is a time deposit of money in an international bank located in a country different from the country that issued the currency.

3 0
2 years ago
Marina and Nolan formed the MN Partnership. Marina contributed $20,000 of cash in exchange for her 50% interest in the partnersh
Natasha_Volkova [10]

Answer:

A) $25,000.

Explanation:

Marina's adjusted basis for her partnership interest at the end of the year = $20,000 (Marina's cash contribution) + $5,000 (Marina's share in the partnership's net taxable income) - $8,000 (distributions received by Marina) + $8,000 (Marina's share in the partnership's recourse liabilities) = $25,000

8 0
2 years ago
Other questions:
  • Blake eats two bags of potato chips each day. Blake's hourly wage increases from $9 to $15, and he decides to stop eating generi
    13·1 answer
  • Which method is the most efficient method to use to solve x^2+6x-7=0?
    5·2 answers
  • The Rogers Corporation has a gross profit of $746,000 and $305,000 in depreciation expense. The Evans Corporation also has $746,
    8·1 answer
  • Crafting a strategy to compete in one or more foreign markets can be considered complex because 34) A) factors that affect indus
    9·2 answers
  • Journalize the following five transactions for Nexium & Associates, Inc. Omit explanations.March 1 - Bills are sent to clien
    11·1 answer
  • Argus Finnian is a calculating, self-centred salesperson. He never engages in relationship marketing. He looks on any sales situ
    8·1 answer
  • the financial agency that sets monetary policy is , the financial agency that insures bank deposits is
    14·1 answer
  • What is the term for the time at which maximum levels of petroleum extraction are reached?
    9·1 answer
  • This tax is locally assessed, varies according to the worth of land and goods on it, and generally funds things like public scho
    8·1 answer
  • If the cost of debt is the lowest choice among financing options, would increasing our percentage of debt always reduce our cost
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!