Answer:
a. Michael’s personal assets are not recorded on the Apartment Exchange’s balance sheet. ECONOMIC ENTITY PRINCIPLE, the owner's personal assets are not part of his business assets and therefore should be reported separately.
b. The Apartment Exchange records furniture at its cost of $9,000, not its market value of $13,000. HISTORIC COST PRINCIPLE, assets must be recorded at their purchase price.
c. The Apartment Exchange reports its financial statements in U.S. dollars. MONETARY UNIT PRINCIPLE, businesses must record their transactions in a unit of currency (US dollar).
d. Michael expects the Apartment Exchange to remain in operation for the foreseeable future. GOING CONCERN PRINCIPLE, the business will remain in operation for the foreseeable future.
Answer:
$120,000
Explanation:
Particulars Amount
Beginning balance in accounts receivables A/C $100,000
Add: Credit sales <u>$20,000</u>
Ending balance in accounts receivables A/C <u>$120,000</u>
Answer:
17.68 minutes
Explanation:i
In order to calculate the average time passenger had to wait in line, we would first divide the average number of passengers check-in in with the passengers checked in from 9 am to 10 am (which was the highest number of check-ins of the day). Then we would multiply that number by 60 minutes. As shown below:
First,
= 56 average number of passengers checked-in / 190 passengers checked-in from 9 to 10 am
= 0.2947
Then
= 0.2947 x 60 minutes
= 17.68 minutes
Hence, 17.68 minutes did the average passenger wait in line.
Wendy's is like a peach skin girl with red freckles, and ponytails that go sideways, and with blue bowties on the ponytails. Pepsi is a circle with a red semi circle, white stripe that is narrow, and blue as the rest, inside the circle. Coca cola is Coca in cursive, with the c's end as a line under that word, then cola in cursive, but the c's top is a line above the word. Hope it helps!
= Total revenue − Total cost; or = (Unit price × Quantity sold) − (Fixed cost + Variable cost).
