The total assets of the company at the end of the year is $282,000
<h3>What is a total asset?</h3>
When all assets and liabilities are taken into account, a person's total assets indicate the value of all they own. Anything that a person or business owns, like a car or stock, is considered to be an asset. An asset is bought by people or businesses because they believe its value will rise in the future.
<h3>What is the formula for total assets?</h3>
Liabilities x Owner's Equity = Total Assets
Due to the fact that the company must employ debt (liabilities) and capital to purchase whatever it possesses, the equation must be balanced (Owner or stockholders equity).
<h3>What is total assets and how is it calculated?</h3>
By adding your obligations and equity, you may calculate your total assets. The simplest way to get total assets using this technique is to deduct the value of liabilities from the value of equity or assets because liabilities have a negative value.
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Answer:
The unredeemed gift cards should be reported as current liability on the balance sheet
Explanation:
Here in this question, we are interested in knowing how purchased but yet to be redeemed gift cards, having an extra year of validity should be recorded on the company’s present year-end financial statements.
The correct answer to this is that the yet to be redeemed gift card is to be recorded as a current liability on the present year balance sheet. When we talk of current liabilities, we are simply referring to those amounts in businesses which we are going to pay creditors within the year.
Although the gift card has been purchased, without redeeming yet still means there are some amount that is still yet to be paid out to the creditors. Now, since there is still a window of a whole full year before the creditors might no longer access the payment, then we can record the gift cards amount as current liabilities within the year which we are in since the payment is due to be paid within a whole full year.
Answer:D
Explanation: The federal Application for Student Aid (FAFSA) is an official US Government initiative organised to help intending students and students who are already in the higher institutions to get aid which helps them in their academic pursuits. The form can be filled online after creating an ld, the form can also be downloaded in a pdf format, filled and submitted via mail.
The form is filled by the student after registering and creating an Id.
Answer:
The correct answer is B
Explanation:
Mission statement is one of the statement which is described what a firm is, why the firm exists, the reason for being or existence. At the minimum, the mission statement defined as who the primary customers are, recognize the services and products which the firm produce and also define the geographical location in which the business operate.
So, the mission statement is the formal statement states the strategic plan describe the overall motive of the business.
In step 2 of comparison shopping one must:
Compare prices and features.
Explanation:
Comparison shopping is when an item is shopped for by comparing competitive prices and products for the same.
This is essential in the modern would where there is small difference in specifications of competing product that must be viewed to get the best option.
The first step of the process is to research and access what product and what specifications are needed by the buyer.
The second step is then the comparison of the prices and features.
The third step is the analysis and then the decision of buying.
