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pashok25 [27]
3 years ago
8

Consider Emily's balance statement:

Business
2 answers:
notsponge [240]3 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]3 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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A firm uses machine hours to allocate overhead cost. During the period, budgeted variable overhead is Rs. 10000 and budgeted
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Answer:

C

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A company had cash flows during the year as follows: $50,000 received from short-term borrowing, $10,000 paid to purchase treasu
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Answer:

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Explanation:

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Example 1 The total cost of 5 textbooks and 4 pens is $ 32.00; the total cost of 6 other books of the same text and 3 pens is $
Dafna11 [192]

Answer:

For example 1, each text book costs $4 and each pen costs $3.

For example 2, 18 $5 tickets were sold and 15 $2 tickets were sold.

Explanation:

Example 1:

let T = number of text books

let P = number of pens

5T + 4P = 32

6T + 3P = 33 (we can start by dividing this equation by 11)

5T + 4P = 32

2T + 1P = 11 (now lets multiply be -4)

5T + 4P = 32

-8T - 4P = -44 (now we add)

-3T = -12

T = -12 / 3 = 4

P = (2 X 4) + P = 11

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Example 2:

let C = cheap tickets

let E = expensive tickets

C + E = 33  ⇒   C = 33 - E (and now we can replace)

2C + 5E = 120

2(33 - E) + 5E = 120

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66 + 3E = 120

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E = 54 / 3 = 18

C = 33 - 18 = 15

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3 years ago
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The above statement is true.
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