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love history [14]
3 years ago
6

Which step should Gemima fix to complete the task correctly?

Business
1 answer:
Arisa [49]3 years ago
6 0

she needs to fix step 4

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The price of gold is currently $1,200 per ounce. The forward price for delivery in one year is $1,400. An arbitrageur can borrow
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Land originally purchased for $28,390 is sold for $74,057 in cash. What is the effect of the sale on the accounting equation
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There is no effect on the accounting equation.

<h3>What is accounting equation?</h3>

Accounting equation is the one which states that a company's total assets are equal to the sum of its liabilities and its shareholders' equity.

Assets = owner's equity + liability

The above means that land is not depreciated, therefore assets decrease (-land) but also increase (+cash).

The elements of accounting equation are :

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  • Liabilities
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Learn more about account equation here: brainly.com/question/24401217

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4 years ago
define Goodwill......... should it be considered as an asset and State the reason why it is controversial in a business today​
Lana71 [14]

Answer:established reputation of a business regarded as a quantifiable asset and calculated as part of its value when it is sold.

Explanation:if Company A buys Company B for more than the fair value of Company B's assets and debts, the amount left over is listed on Company A's balance sheet as goodwill.

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