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2 years ago

Question 8 of 10

Business

1 answer:

kirill115 [55]2 years ago

6 0

Answer:

A. A balance sheet shows the total assets, liabilities, and owner's

equity at the end of the period

Explanation:

As we know that

The income statement recognized only the income earned and expenses incurred of an organization

While on the other hand the balance sheet shows the financial position, profitability of the company. It involves assets, liabilities and stockholder equity

So according to the given options, the option A is correct

hence, the rest of the options would be incorrect

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If a payment cap is applied and the required payment does not cover the interest expense, the unpaid interest is added to the lo

spin [16.1K]

The condition when a payment cap is applied and the required payment does not cover the interest expense, the unpaid interest is added to the loan thereby increasing the loan balance even though the required payment is being made, is known as a negative amortization.

<h3>What is negative amortization?</h3>

A condition where the amount owed by an individual keeps adding even after the repayments are done is known as negative amortization.

Such condition of a negative amortization arises as the amount being repaid does not fully or partly cover the interest amount.

Hence, the significance of negative amortization is aforementioned.

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1 year ago

Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions

liberstina [14]

Answer:

April 1 Invested $20,000 cash in her business.

Dr Cash 20,000

Cr Vera, Ernst, capital 20,000

1 Hired a secretary-receptionist at a salary of $700 per week payable monthly.

no journal entry required

2 Paid office rent for the month $1,500.

Dr Rent expense 1,500

Cr Cash 1,500

3 Purchased dental supplies on account from Dazzle Company $4,000.

Dr Supplies 4,000

Cr Accounts payable 4,000

10 Performed dental services and billed insurance companies $5,100.

Dr Accounts receivable 5,100

Cr Service revenue 5,100

11 Received $1,000 cash advance from Leah Mataruka for an implant.

Dr Cash 1,000

Cr Deferred revenue 1,000

20 Received $2,100 cash for services performed from Michael Santos.

Dr Cash 2,100

Cr Service revenue 2,100

30 Paid secretary-receptionist for the month $2,800.

Dr Wages expense 2,800

Cr Cash 2,800

30 Paid $2,600 to Dazzle for accounts payable due.

Dr Accounts payable 2,600

Cr Cash 2,600

6 0

3 years ago

The purpose of making closing entries is to: Select one: a. Reset the temporary accounts and update retained earnings. b. Enable

Irina18 [472]

Answer:

A. Reset the temporary accounts and update retained earnings.

Explanation:

This is a performed by an organisation in form of transferring data of financial values from temporary accounts and its is been moved to the permanent account. Amidst these, the temporary account is said to balanced in such a way to be zero; because when not done so, the remaining data from the temporary account will be moved to the permanent account.

Process involved in this includes: Closing summaries that belong to income accounts and move to income summary. Also all expense accounts to income summary.

4 0

2 years ago

According to the capital asset pricing model (CAPM), a capital budgeting project that has a beta equal to zero should be evaluat

lara [203]

Answer:

a. True

Explanation:

from the CAPM formula we can derive the statemeent as true.

$Ke= r_f + \beta (r_m-r_f)$

risk free = 0.05

market rate = 0.12

premium market = (market rate - risk free) 0.07

beta(non diversifiable risk) = 0

$Ke= 0.05 + 0 (0.07)$

Ke 0.05000

As the beta multiplies the difference between the market rate and risk-free rate a beta of zero will nulify the second part of the equation leaving only the risk-free rate. This means the portfolio is not expose to volatility

6 0

2 years ago

________ is largest employer in the country and the largest purchaser of goods and services in the world.

algol [13]

The largest employer in the country which can also be regarded as largest purchaser of goods as well as services is U.S. federal government.

U.S. federal government can be regarded as national government of the United States, which is composed of self-governing territories as well as several island.

She serve as one of the major force in the world market, and that is why many countries relied on their exports.

Therefore, U.S. federal government is right.

Learn more at:

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4 0

2 years ago