Answer:
Please see balance sheet below.
Explanation:
Wolfpack construction balance sheet.
Dec 31
Assets $
Cash 6,000
Land 18,000
Equipment 26,000
Total assets 50,000
Liabilities.
Accounts payable 3,000
Notes payable 20,000
Total liabilities 23,000
Equity
Common stock 11,000
Retained earnings 16,000
Total stockholders equity. 27,000
Total liabilities and stockholder's equity(23,000 + 27,000) 50,000
The answer is "<span>this could be an example of a ceiling effect".
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The term ceiling effect refers to an estimation restriction that happens when the most astounding conceivable score or near the most noteworthy score on a test or estimation instrument is come to, in this way diminishing the probability that the testing instrument has precisely estimated the proposed domain.
Answer:
Dr Loss on Impairment $15,520.00
Cr Maturity Debt Securities $15,520.00
Explanation:
Preparation of the journal entry to record the impairment.
Journal entry
Sep. 30
Dr Loss on Impairment $15,520.00
Cr Maturity Debt Securities $15,520.00
($38,500-$22,980=$15,520)
(To record the impairment)
Answer
D. It aids in meeting a future obligation
Explanation
I believe sinking fund is a way used by companies to pay off borrowed money by using a bond issue through payments made periodically before it matures. This means is used by companies to settle future loan repayment agreements that it made with lending agencies. Company uses sinking fund technique to entice investors because the fund convince stakeholders of the firm on issues of default payment