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3 years ago

Difference between assets and liabilities.

Business

1 answer:

Alinara [238K]3 years ago

8 0

Answer:

see below

Explanation:

Assets are the things a person or a company owns. They are items precious to a business or an individual. Assets are things that can be assigned a monetary value. They are in the form of cash, properties, money market securities, machinery, plants and equipment, intellectual property rights, and many others.

Liabilities are money a business or person owes others. They are loans, debts, and obligations that need to be paid. Common liabilities include bank loans, unpaid utilities, and creditors such as suppliers.

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David Harbert recently started a business. During the first few days of operation, Mr. Harbert transferred cash from his persona

masya89 [10]

Answer:

Explanation:

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David Herbert as the Entrepreneur , Herbert Enterprises which prepare the report ,George , Herbert's brother an investor , First federal bank , a loan provider and City properties.

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3 years ago

Prepare adjusting entries for the following transactions.

kramer

Answer:

that is the correct amout because that is what it adds up to

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3 years ago

The delivery of services can be expressed as a __________ with mass produced, low-customer contact systems at one end, and highl

Leto [7]

Answer: Continuum

Explanation:

The question is given a description of the service delivery system, a kind of system which is targeted at meeting customers needs while profit is being made by the organization.

Continuum is a word used to describe a process with stages that vary slightly and lies between two eventualities.

The continuum in the question is used to describe the stages in the service delivery system, from the level of low customer contact that gradually progresses to a level of high customer contact.

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3 years ago

A financial instrument whose value is derived from the value of an underlying asset is called a.

lana66690 [7]

Answer:

This is called A derivative

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2 years ago

Classifying Cash Flows Identify whether each of the following would be reported as an operating, investing, or financing activit

Zielflug [23.3K]

Answer:

a. Financing activity

b. Operating activity

c. Operating activity

d. Financing activity

e. Operating activity

f. Investing activity

Explanation:

Basically there are three types of activities:

1. Operating activities: It includes those transactions which affect the working capital, and it records transactions of cash receipts and cash payments.

2. Investing activities: It records those activities which include purchase and sale of the fixed assets

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance. Example: equity, bonds payable, etc

Based on the above information about each activity, the reporting of each transaction is shown below:

a. Financing activity: As the transaction is related to the bond payable

b. Operating activity: As the transaction is related to the inventory

c. Operating activity: As the transaction is related to the sales

d. Financing activity: As the transaction is related to the common stock

e. Operating activity: As the transaction is related to the account payable

f. Investing activity: As the transaction is related to the equipment

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3 years ago