All categories

3 years ago

11. What are assets?

Business

2 answers:

vampirchik [111]3 years ago

7 0

Financial accounting, an asset is any resource owned by a business or an economic entity. It is anything that can be owned or controlled to produce value and that is held by an economic entity and that could produce positive economic value.
I hope this helps

Brut [27]3 years ago

6 0

Answer:

I believe it's the last option.

Explanation:

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit. Assets are reported on a company's balance sheet and are bought or created to increase a firm's value or benefit the firm's operations.

You might be interested in

World trade has grown substantially in the last 60 years. for example, while world output grew at an annual rate of 3.8% per yea

kenny6666 [7]

Answer:

it will grow 20.16

Explanation:

6 0

2 years ago

Suppose People's bank offers to lend you $10,000 for 1 year on a loan contract that calls for you to make interest payments of $

vodka [1.7K]

Answer:

10.38%

Explanation:

The formula to compute the effective annual rate of the loan is shown below:

= (1 + nominal interest rate ÷ periods)^ number of period - 1

The nominal interest rate is shown below:

= $250 × 4 ÷ $10,000

= $1,000 ÷ $10,000

= 0.1

Now the effective annual rate is

= (1 + 0.1 ÷ 4)^4 - 1

= (1 + 0.025)^4 - 1

= 1.025^4 - 1

= 10.38%

Since the interest rate is measured on a quarterly basis, we know there are four quarters in a year and we do the same in the calculation part.

This is the answer but the same is not provided in the given options

4 0

3 years ago

Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of busines

Citrus2011 [14]

Answer:

See below

Explanation:

Given the above information, the adjusted cash balance should be;

Cash book balance

$67,209

Add:

Interest earned

$45

Less;

Bank fees

($30)

Adjusted cash book

$67,224

Bank balance

$63,949

Add:

Deposit in transit

$6,050

Less:

Outstanding checks

($2,675)

Adjusted bank balance

$67,324

7 0

2 years ago

Which one of the following is not a physical control? Group of answer choices Bank safety deposit boxes for important papers Ind

VashaNatasha [74]

Answer: Independent bank reconciliations.

Explanation:

A bank reconciliation is a process by which the records of a bank account are verified to be correct, by comparing the personal records with the records that appear on the bank statement. This process is usually done independently when a company wants to audit its accounts and reconcile its processes.

Because this is a review of bank accounts (savings, payroll, checking accounts), no physical control is needed to do it, but rather a monetary control.

<em>I hope this information can help you.</em>

7 0

2 years ago

You just got a job and plan to save for the college expenses for your kids. You have a son and a daughter. Your son is 4 years o

Dafna1 [17]

Answer:

$11,508.25

Explanation:

your son will start college in 14 years, and the present value of his college tuition = $40,000 x 3.4651 (PVIFA, 6%, 4 periods) = $138,604

your daughter will start college in 17 years, so you need in today's dollars $138,604

you will need to save enough money to cover both tuitions;

money required to cover your son's tuition = $138,604 / 21.015 (FVIFA, 6%, 14 periods) = $6,595.48

money required to cover your daughter's tuition = $138,604 / 28.213 (FVIFA, 6%, 14 periods) = $4,912.77

total annual savings = $11,508.25

5 0

2 years ago