Answer:
see below
Explanation:
A balance sheet is prepared following the accounting principles of assets equal to liabilities plus equity. Assets are left side while equity and liabilities on the other.
Assets are valuable that a business owns. Liabilities refer to the debts or loans of the business. It is what the business owes others. Equity is the owner's contribution to the business.
In this balance sheet, Emily has confused assets and liabilities.
The column labeled as liabilities represents assets. She should change that. This column should be the topmost column. She has interchanged the labels for liabilities and assets. The difference between assets and liabilities should be equity.
Answer:
40° Fahrenheit
Explanation:
For an X-bar, the centre line is then average across all components. In this case, the average temperature across all 1150 bottles over 115 days will be 40° Fahrenheit as it is reported.
The most important difference of the two or between
businesses in the profit and nonprofit organizations is that in terms of nonprofit
organizations, the organization owners does not make money, while the profit
organizations—it makes money for the organizations’ owners.
Answer:
$5,160
Explanation:
Predetermined Overhead Rate on Capacity = Total Estimated Manufacturing Overhead / Estimated Capacity for the Year
Predetermined Overhead Rate on Capacity = $34,840 / 29,000 MH
Predetermined Overhead Rate on Capacity = $1.20 MH
Actual use of capacity = 24,700 hours
Unused hours = 29,000 hours - 24,700 hours
Unused hours = 4,300 hour
Cost of unused capacity = 4,300 hours * $1.20 MH
Cost of unused capacity = $5,160
The question is incomplete. The complete question is as follows,
At December 31, 2011 the accounting records of Gordon, Inc. contain the following items:
Accounts Payable 2500
Land 30000
Building 31250
Notes Payable ?
Retained earnings 125000
Accounts Receivable 18750
Cash ?
Equipment 40000
Capital Stock 12500
If the Notes Payable is $10,000, the December 31, 2011 cash balance is:
Answer:
Cash = $30000
Explanation:
The accounting equation states that the sum of total assets is always equal to the sum of total liabilities plus total equity. We can state the equation as follows,
Total Assets = Total Liabilities + Total Equity
So,
(30000 + 31250 + 18750 + 40000 + Cash) = (2500 + 10000) + (125000 + 12500)
120000 + Cash = 12500 + 137500
Cash = 150000 - 120000
Cash = $30000
