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pashok25 [27]
2 years ago
8

Consider Emily's balance statement:

Business
2 answers:
notsponge [240]2 years ago
8 0

Answer:

see below

Explanation:

A balance sheet is prepared following the accounting principles of assets equal to liabilities plus equity. Assets are left side while equity and liabilities on the other.

Assets are valuable that a business owns. Liabilities refer to the debts or loans of the business. It is what the business owes others. Equity is the owner's contribution to the business.

In this balance sheet,  Emily has confused assets and liabilities.

The column labeled as liabilities represents assets. She should change that. This column should be the topmost column.  She has interchanged the labels for liabilities and assets. The difference between assets and liabilities should be equity.

Nadya [2.5K]2 years ago
6 0

Answer:

Emily has mixed up the assets and liabilities. All the cells under “assets” are really liabilities and vice versa.

Explanation:

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Jo is duly notified that her mortgage with Fund All Savings has been transferred to Big Loan Co. and that she should henceforth
Likurg_2 [28]

Answer:

Option D; JO IS LIABLE TO BIG LOAN CO. SINCE SHE RECEIVED A NOTICE FROM THEM ABOUT THE ASSIGNMENT.

Explanation:

A mortgage is a loan provided by a mortgage lender or a bank that enables an individual to purchase a home.

Mortgage payments usually occur on a monthly basis and consist of four main parts: principal, interest, taxes and insurance.

A transfer of mortgage is the reassignment of an existing mortgage, usually on a home, from the current holder to another person or entity.

When mortgage is transferred, two notices will be sent: one from the current mortgage servicer and the other from the new servicer. All payments after the notification will be made to the new servicer.

Since Jo was notified about the reassignment from Fund All Savings to Big loan Co. but still continues to pay Fund All Savings and Big Loan Co. sues Jo for nonpayment. What is most likely to be the court's judgement is that JO IS LIABLE TO BIG LOAN Co. SINCE SHE RECEIVED A NOTICE FROM THEM ABOUT THE ASSIGNMENT.

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3 years ago
Why does a website or service need branding?
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To ease joey's work of breathing you have joey assume a position of comfort. you anticipate joey will want to:
cestrela7 [59]
The answer is sit up. It is anticipated that Joey wants to sit up. In addition to asthma, pathophysiology of asthma includes airway inflammation, bronchospasm and airway obstruction. The Tilade or nedocromil sodium is commonly used with children with mild asthma. Its primary therapeutic action is to decrease histamine release and Proventil is used as a frontline treatment for an asthma exacerbation in which its primary therapeutic action is to induce bronchodilation.  
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2 years ago
The comparative balance sheets and income statement for Bingky Barnes Inc. are as follows:
MatroZZZ [7]

Answer:

Bingky Barnes Inc.

Statement of Cash Flows for the year ended December 31, Current Year

(using the indirect method)

Operating activities:

Net income                          $11,900

Add non-cash expenses:

Depreciation                          5,400

Adjusted operating            $17,300

Changes in working capital:

Accounts receivable            -3,800

Merchandise inventory       -3,700

Accounts payable               +8,800

Accrued wages expense       -400

Net operating cash flow   $18,200

Investing activities:

Property & equipment   -$20,700

Financing activities:

Note payable, long-term    -6,300

Common stock and

additional paid-in capital +16,700

Net cash from financing  $10,400

Net cash flows                   $7,900

Explanation:

a) Data and Calculations:

Comparative balance sheets and income statement

                                                   Current Year     Prior Year    Change

Balance sheet at December 31

Cash                                                  $37,300       $29,400       +7,900

Accounts receivable                          32,700          28,900       +3,800

Merchandise inventory                     42,000          38,300        +3,700

Property and equipment                  121,500        100,800      +20,700

Less: Accumulated depreciation    (30,700)        (25,300)

Total assets                                 $202,800        $172,100

Accounts payable                          $36,700        $27,900        +8,800

Accrued wages expense                   1,400             1,800            -400

Note payable, long-term                 44,500         50,800         -6,300

Common stock and

 additional paid-in capital              89,600         72,900       +16,700

Retained earnings                          30,600          18,700      

Total liabilities and equity         $202,800      $172,100

Income statement for current year

Sales                                         $123,000

Cost of goods sold                      73,000

Other expenses                           38,100

Net income                                 $11,900

Additional Data:

a. Equipment bought for cash, $20,700

b. Long-term notes payable was paid off for $4,800?

c. Issued new shares of stock for $16,400 cash.

d. No dividends were declared or paid.

e. Other expenses:

Depreciation, $5,400

Wages            20,100

Taxes,               6,100

Other,              6,500

f. Assume that expenses were fully paid in cash, when there are no liabilities account related to them. For example, tax expenses are paid in cash since there is no taxes payable.

Wages Payable

Beginning balance             $1,800

Wages expense $20,100

Ending balance      1,400

Cash paid                           19,700

7 0
3 years ago
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Answer:

A) abstract reasoning

Explanation:

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