The economic activities of a business owner should be separated from the activities of the business is an example of Economic Entity accounting assumption.
What is Economic Entity?
One of the presumptions made by widely accepted accounting rules is that an economic entity exists. An enterprise can be almost any kind of social structure or unit. Hospitals, businesses, towns, and government organizations are some examples of monetary entities.One of the presumptions made by widely accepted accounting rules is that an economic entity exists.
Therefore,
The requirement that the economic activities of a business owner should be separated from the activities of the business is an example of Economic Entity accounting assumption.
To learn more about economic entity from the given link:
https://brainly.com/question/14618665
#SPJ4
On december 1, 2022, escobar consulting, which uses a calendar year as its fiscal year, signs a $4,000, 12%, four-month note payable. Journalize the entry to record the payment of the note and entire interest on april 1, 2023.
$4000 in Payable Debit Notes Debt Interest Charge: 120 Credit Cash $4,160 Debit Interest Due 40
(4,000 x 12%) x 4/12 = $160 is the total amount of interest costs.
The monthly interest expense is therefore (160/4) = $40.
In light of this, the interest expenditure for December 2016 should be reported as $40 in interest payable (current liability), which would be paid today.
Thus, the journal entry is:
Notes due on account.
Dr$4000
Interest due is Dr. $40 in Interest expense is Dr. 120
$4160 to be cashed.
The ability to withdraw money from a current bank account without having a credit balance is known as cash credit, but it is only available up to the borrowing limit, which is set by the commercial bank. With this facility, interest is calculated daily closing balance rather than the bank-provided borrowing limit.
Learn more about Credit Cash here
https://brainly.com/question/17439772
#SPJ4
If consumers view cappuccinos and lattés as substitutes, what would happen to the equilibrium price and quantity of lattés if the price of cappuccinos rises?.
If consumers view cappuccinos and lattés as substitutes, Both the equilibrium price and quantity would decrease.
The demand for cappuccinos will decrease and the equilibrium price of cappuccinos as well as the equilibrium quantity will decrease and people will drink less cappuccinos. From the demand and supply of the lattés market, we see that the new equilibrium price of the coffee decrease due to an increase in the supply of lattés . Since lattés and cappuccinos are substitute goods, the decrease in the price of lattés will make it more lucrative for the consumers to buy lattés such that the consumers will substitute cappuccinos for buying more units of lattés. This will reduce the demand for cappuccinos , causing the demand curve of tea will shift to the left. The supply of cappuccinos remaining the same, a decrease in demand for cappuccinos will lead to a decrease in equilibrium quantity and price of cappuccinos.
Learn more about Equilibrium.
https://brainly.com/question/517289
#SPJ4
if retained earnings beginning is 100000 and dividends are 20000 and retained earnings ending is 10000 what is net income
The net income from the following data will be considered a loss of 70000.
What are retained earnings?Retained earnings can be defined as the part amount which is available for the business that they could reinvest again in the form of purchasing assets or adding a new product line. The retained earnings are also not distributed among the shareholders.
According to the question:
retained earnings beginning is, 100000
dividends are 20000
retained earnings ending is, 10000
Net income = retained earnings + dividend - beginning retained earning
=100000 + 20000 - 100000
= - 70000
Therefore, one can say that the company has incurred a loss of 70000.
Learn more about retained earnings, here:
https://brainly.com/question/14529006
#SPJ4
the three main dimensions of information systems are management, organizations, and information technology.
The given statement is true in this question that is "management, organizations and information technology are three major dimensions of information systems"
Information systems support business operations. People, firms and technology are their main elements that together make an information system.
Each dimension of information systems is briefly explained below:
Management: Management dimension of information systems includes management and leadership behavior. It provides tools and techniques to managers for allocating, coordinating and monitoring work, creating new products and services, making strategic decisions, producing financial statements and forecasts, Organizations: Since information systems are used in organizations, they have culture, business procedures, functional specialties, political interest groups, and hierarchy of organizations embedded in them. Any changes in organizations’ settings ultimately require changes in the information systems. Information systems impact objectives, structure and products of an organization to a great extent. Organizations make decisions based on the information delivered by information systems. Information Technology: Information technology dimension of an information system includes hardware, software, telecommunications/networking technology and data management technology. The dimension provides the foundation on which information systems are built. Without information technology, information systems cannot be created and offer services.The complete question is given below:
"The three main dimensions of information systems are management, organizations, and information technology.
TrueFalse"
You can learn more about dimensions of information system at
https://brainly.com/question/14672613
#SPJ4
vision tech’s stock price is currently trading at $17 per share. the consensus among analysts is that the intrinsic value of vision tech’s stock is $27 per share. is vision tech more or less likely to receive a hostile takeover bid?
Vision tech’s stock price is currently trading at $17 per share. the consensus among analysts is that the intrinsic value of vision tech’s stock is $27 per share. vision tech more or less likely to receive a hostile takeover bid is Less Likely.
To figure out how treasured the shares are for traders, take the closing up-to-date value of the employer share and multiply it via brilliant stocks. any other approach to calculate the charge of the percentage is the price-to-earnings ratio. The modern-day price is the most current promoting fee of an inventory, foreign money, commodity, or precious steel this is traded on an alternate and is the maximum dependable indicator of that safety's present cost.
The maximum commonplace way to price an inventory is to compute the company's charge-to-earnings PE ratio. The PE ratio equals the organization's stock rate divided with the aid of its most recently suggested income according to percentage EPS. A low P/E ratio means that an investor shopping for the inventory is receiving an appealing quantity of value. earlier than you may use it, you have to learn what the P/E ratio is. it is smooth to calculate as long as you already know a given employer's inventory rate and earnings according to percentage EPS.
Learn more about Stock prices here:-https://brainly.com/question/26128641
#SPJ4
there are times when marketers forget that marketing is not just a department, and they fail to market the dashboard to .
There are times when marketers forget that marketing is not just a department, and they fail to market the dashboard to Key stakeholders
What is key stakeholder?
The most important stakeholders in a given business are those who make up a company's key stakeholders. Any professional who is impacted by the operations, initiatives, and successes of an organization is a stakeholder. Different stakeholders have different types of and levels of interest in a company.
One of a company's most crucial stakeholders is a key stakeholder. Due to the fact that they are most impacted by a company's operations, key stakeholders are very interested in that company's success. Similar to this, a company's primary stakeholders frequently determine its success and growth.
Learn more about key stakeholders
https://brainly.com/question/16819581
#SPJ4
are the leading cause of fatalities in the construction industry as 349 total deaths related to it were repoerted in 2014
Falls are the leading cause of fatalities in the construction industry as 349 total deaths related to it were reported in 2014.
Construction is a general term that describes the art and science of designing objects, systems, or organizations, and is derived from the Latin construction and the Old French construction. To build is a verb: the act of constructing, the noun is construction: how something is constructed, the nature of its construction.
What is the definition of construction?
It is the process of making something, the act of building it, or the way something is put together. A construction example is creating and decorating a new ice cream parlor in a former shoe store.
What is a building construction?
Building construction includes various stages such as planning, design, ground preparation, foundation plinth construction, column, beam and panel construction, plastering and finishing works.
Learn more about construction here:- https://brainly.com/question/25795065
#SPJ4
Suppose the government taxes the wealthy at a higher rate than it taxes the poor and then develops programs to redistribute the tax revenue from the wealthy to the poor. This redistribution of wealth.
This redistribution of wealth: Is more equal but less efficient for society.
By "taxing the wealthy, you decrease their incentives to work, which are already more sensitive than their lower income counterparts due to the large negative income effect."
This reduces efficiency in the economy but increases equality by reducing the wages of the wealthy and giving the money to those with lower incomes.
This is known as The Robin Hood effect. "The Robin Hood effect is the redistribution of wealth from the rich to the poor. The Robin Hood effect can be caused by a large variety of government interventions or normal economic activity."
To learn more about redistribution of wealth click below
brainly.com/question/13451597
#SPJ4
on september 30, world co. borrowed $1,000,000 on a 9% note payable. world paid the first of four quarterly payments of $264,200 when due on december 30. in its income statement for the year, what amount should world report as interest expense? a. $0 b. $14,200 c. $22,500 d. $30,000
$22,500 should world reported as interest expense. Thus, option C is correct.
What is interest?Interest can be defined as the amount that is being paid on the loan or the sum that is being borrowed. It can be in a fixed amount or in a recurring rate.
The requirement is to determine the amount of interest expense that should be accrued.
borrowed = $1,000,000
note payable = 9%
Time period = four quarterly
Interest expense is calculated as
= $1,000,000 x 9% x 3/12 months
= $22,500.
The world should declare $22,500 as interest expense. Therefore, option C is the correct option.
Learn more about interest, here:
https://brainly.com/question/13324776
#SPJ4
Chapter Two Mini-Case Discussion (from textbook):
Is a Franchise Right for Me?
Based on the projected occupancy, average rate, and the fees associated with the franchise, should Tom become a franchisee, or should he
pursue other options? Explain your decision?
Tom can become a franchisee.
At 60% occupancy, his projected daily rate is 55$, resulting in a monthly income of 148500$. Deducting the royalty fee and license fee of 5% of profits and the program cost of 4% of income from the sum of 13365$, we receive 135135$. He has monthly earnings of $90135 after further lowering the licensing costs of $45000. Even if he decides to pay 10% or more in extra charges for a full-service hotel, he will still make a significant profit because the return on his investment will be high.
To learn more about franchises: brainly.com/question/16826168
#SPJ4
a part of presentation and disclosure is the assertion that disclosures must be , , and understandable or transparent to financial statement users. (enter only one word per blank.)
A part of presentation and disclosure is the assertion that disclosures must be Reliable, Understandable or Transparent to financial statement users.
What is Financial Statement ?
Financial statements are written documents that communicate an entity's business activity and financial performance.As a snapshot in time, the balance sheet provides an overview of assets, liabilities, and shareholders' equity.The income statement is primarily concerned with a company's revenues and expenses for a specific time period. After subtracting expenses from revenues, the statement provides a company's profit amount known as net income.The cash flow statement (CFS) evaluates a company's ability to generate cash to meet debt commitments, cover operating expenses, and fund investments.The statement of changes in equity documents how profits are retained within a business for future growth or given to third parties.To learn more about Financial Statement from link mention below
https://brainly.com/question/26240841
#SPJ4
Word count - 108 words
mandated reporting laws for child abuse and neglect are the same for public and private organizations
Both governmental and private entities must report child abuse and neglect in accordance with the law. Failure to report suspected abuse by a mandatory reporter might result in up to 6 months in jail and/or a $1,000 fine.
Mandatory reporting refers to the Reporting Party's duty to file reports on behalf of the Client, who serves as its counterparty, in accordance with the Mandatory Reporting Provisions.
Mandatory reporting is the legal requirement for certain kinds of persons to notify the appropriate authorities when they suspect child abuse or neglect.
Mandatory reporting is intended to safeguard kids from child abuse and neglect as a matter of public policy. A society without a mandated reporting system, according to Mathews and Bross (2008), will be much less able to safeguard children and support families since many instances of child abuse and neglect will go unreported.
Learn more about mandated reporting here
https://brainly.com/question/4440627
#SPJ4
Which forms of investment generally pay a higher rate of return than traditional banks? A. Mutual funds, savings accounts, and money market accounts B. High-yield bonds, certificates of deposit, and money market accounts C. Bonds, stocks, and certificates of deposit D. Stocks, bonds, and mutual funds
B. High-yield bonds, certificates of deposit, and money market accounts,
These forms of investment generally pay a higher rate of return than traditional banks
Funding is the determination of an asset to acquire an boom in fee over a time period. Investment calls for a sacrifice of some present asset, which include time, cash, or effort. In finance, the reason of investing is to generate a go back from the invested asset.
An investment is an asset or item obtained with the aim of producing income or appreciation. Appreciation refers to the growth inside the cost of an asset over the years. When a character purchases an excellent as an investment, the motive isn't always to devour the coolest however as an alternative to apply it in the destiny to create wealth.
Learn more about investment https://brainly.com/question/11514232
#SPJ9
b. what is the slope of the budget line from trading with friday (coconuts for fish)? 15 numeric responseedit unavailable. 15 incorrect. c. what is the slope of the budget line from trading with kwame (coconuts for fish)? 60
The problem can be solved by reducing inventory expenses, but only if stockout costs are kept to a minimum.
What is the reduction in inventory costs? What are some ways inventory management cuts costs?Inventory reduction is key to lowering the cost of inventory. Your expenditures will be lower the less you own. And the most expensive inventory you can have is outmoded stock. If you already have a lot of out-of-date inventory, you can try grouping products to sell more of them or reducing their prices individually.
By applying the economic order quantity (EOQ) formula to your company, inventory management software can reduce your storage expenses. In order to avoid paying for storage beyond what is absolutely necessary, this formula takes storage costs into consideration and helps you decide when to acquire extra products.
To learn more about Inventory cost reduction visit:
https://brainly.com/question/13771519
#SPJ4
you are a member of the management team at goliath financial. recently, a staff programmer, eric dynamic, applied for a more senior position with the company but the position was given to someone else
The first direction of motion must be to attempt to recover the erased documents from backups, model manipulates systems, and so forth. The worker ought to be pursued legally. Mr. Dynamic erased documents that could have been essential to the organization and may have positioned different human beings' cash at stake as Goliath Financials is an economic organization.
Version control systems like git should be available in handy to test what code modifications were made with the aid of Mr. Dynamic for the duration of the previous few days. The absence of code evaluations and safety opinions allowed it to take place.No, the departing staff should not be allowed to make software installs. A disgruntled worker can motivate records breaches and may reason a leak of crucial data.
Consequently, the IT department should hold a near take a look at at the departing staff. An unpleased employee is much more likely to reason damage subsequently powerful control and independent appraisal structures ought to be there. Code reviews code ought to be reviewed with the aid of friends before its miles are allowed to be driven to the code base. enterprise guidelines should be modified. strong screening of new hires, and in-intensity interviews. handiest hire accurate people, first of all.
Learn more about The management team here:-https://brainly.com/question/14069240
#SPJ4
contextual elements have required us to develop more sophisticated technologies at this particular stage of development.
We've had to create more complex technologies at this level of development because of contextual factors.
What are the qualities of the context?
We define contextual features generally as elements of the workplace that may have an impact on an employee's creativity but are not a part of the person. Therefore, work environment features, interpersonal interactions with coworkers, and relationships with supervisors would all be regarded as contextual elements.
What does the context mean?
elements that represent a certain context, traits particular to a specific group, community, civilization, and individual.
To know more about contextual elements
https://brainly.com/question/27881456
#SPJ4
A company wishes to determine the eoq for an item that has an annual demand of 2,000 units, a cost per order of $75, and annual carrying cost of 7. 50 per unit. What is the eoq?.
The EOQ = 200.00
Demand = 2000 units, ordering cost = $75, holding/carrying cost = 7.50 per unit
EOQ= 2x Demand x ordering cost x holding cost
EOQ = 2x 2000 x 75 x 7.50
EOQ = 200.00
In the given question, we will calculate the EOQ by multiplying 2 with the demand, ordering cost or cost per order, and carrying cost.EOQ, or Economic Order Quantity, is the term. It is a measurement that is applied to supply, logistics, and operations management. In its simplest form, EOQ is a tool used to calculate the volume and frequency of orders necessary to meet a specific level of demand while lowering the cost per order.By setting the first-order derivative to zero, the Economic Order Quantity formula is determined by minimizing the overall cost per order. The cost of retaining inventory and the cost of ordering that inventory is the two halves of the formula that make up the overall cost per order.Learn more about Economic Order Quantity here:
https://brainly.com/question/24276677
#SPJ4
the way in which a country's resources are utilized to produce goods and services and the way those goods and services are distributed among those who desire to have them depends upon the multiple choice stage of development of those resources. economic system under which the country operates. number of documented economically disadvantaged persons in the nation. availability of tangible versus intangible resources.
The way in which a country's resources are utilized to produce goods and services and the way they are distributed among those who desire to have them depends upon economic system under which the country operates.
In an economic system, production and consumption of activities determines how resources should allocated among all of its consumers. If only we had more resources we could produce more goods and services and satisfy more of our wants.
So in a country, the resources must be utilized properly in order to produce goods and services and fulfill the wants. As, if the recourses are not utilized properly, this will thus lead to scarcity.
Thus, the utilization and distribution depends upon economic system under which the country operates.
Hence, option B is correct.
To learn more about economic system here:
https://brainly.com/question/26270383
#SPJ4
the ability to see a market need and to organize inputs to meet that need is what type of market resource?
The ability to see a market need and to organize inputs to meet that need is what type of market resource: entrepreneurial ability
The type of market resource that is considered a very important ability is the entrepreneurial ability, because this is necessary to understand what are the needs of the market so that they can be satisfied in the best possible way through the offering of the right products and services, this type of ability is common of an entrepreneur.
What is an entrepreneur?An entrepreneur is a person who has the ability to start his or her own business which offers products or services solutions to market needs.
Learn more about entrepreneur at: brainly.com/question/353543
#SPJ4
companies today are finding that to survive, they must compete in international markets and fend off foreign competitors' attempts to gain ground in the united states. what would help businesses in the united states meet these challenges?
The factor that would help the businesses in the united states meet these challenges is They must prepare employees for global assignments.
What is Global assignments?Global assignments is known to be a term that is often used if an employers is said to be assigning their employees to do or carry out any given projects that can be globally implemented.
Note that a Global assignments are known to be task that often take place a lot in multinational firms and may involve a said employees do trying to relocate from their current state or country to a place that is different such as a different country where the assignment is known to be assigned.
Hence, The factor that would help the businesses in the united states meet these challenges is They must prepare employees for global assignments.
Learn more about global assignments from
https://brainly.com/question/3686851
#SPJ1
See question below
Companies are finding that to survive they must contend in international markets as well as fend off foreign competitors' attempts to gain ground in the United States. What would help businesses in the United States meet these challenges? O They must eliminate reshoring-reestablishing operations in North America. O They must reduce the workforce with a "grenade" approach-by eliminating an entire group of employees. O They must prepare employees for global assignments. O They must hire only from a domestic labor pool. O They must focus on developing domestic markets rather than on developing global markets.
in addition to rights, consumers also have blank, such as, reporting the problem immediately and including important details and copies of receipts.
Responsibility as a consumer such as, reporting the problem immediately and including important details and copies of receipts.
The process of defending the general public against unethical business activities is known as consumer protection. Legal provisions for consumer protection are frequently made.
This means the consumer has a legal right to information about the items' quality, quantity, potency, purity, standard, and price in order to avoid unfair business practices. Before choosing or making a decision, the consumer should insist on acquiring all the facts about the good or service.
Learn more about consumers here:
https://brainly.com/question/13420317
#SPJ4
spiceland , d., thomas, w., and hermann, d. (2021). financial accounting, 5th ed. mcgraw-hill education used
Spiceland , d., Thomas, w., and Herrmann, d. (2021). financial accounting, 5th ed. MCgraw-hill education used
The process of recording, compiling, and reporting a company's financial transactions is known as financial accounting. These four statements are the cash flow statement, the statement of retained earnings, the balance sheet, and the income statement.
What role does financial accounting play in general?
The fundamental duties of financial accounting include keeping track of and summarizing a business's financial activity and transactions. Creating formal financial reports each quarter's end. informing pertinent stakeholders of the company's financial situation.
Thomas, W., Spiceland, D., and Hermann, D. (2021). Fifth edition books on financial accounting are available from McGraw-Hill.
To know more about financial accounting
https://brainly.com/question/14546386
#SPJ4
according to the textbook, the keys to successful supply chain management include trust, cooperation, collaboration and honest, accurate communications between supply chain partners.
According to the textbook, the keys to successful supply chain management include trust, cooperation, collaboration, and honest, accurate communications between supply chain partners. True
Management is the administration of an organization, whether or not it's miles an enterprise, a non-profit organization, or a government frame. It is the art and technology of managing sources of the enterprise.
Business management is the coordination and corporation of commercial enterprise activities. enterprise managers oversee operations and help personnel reach their top productivity tiers. A commercial enterprise supervisor can also supervise or educate new employees, and assist a commercial enterprise to attain its operational and monetary goals.
Management ranges are the divisions among levels of authority and obligation in an agency. The typical control degrees are top-level management, mid-stage management, and primary-line management. Those stages determine the responsibilities of various manager positions, which include who they report to and who reports to them.
Learn more about management here https://brainly.com/question/25453419
#SPJ4
mchenry, a new york resident, files a suit in a new york state court against oneworld inc., a company based in california. oneworld’s only contact with mchenry is the company’s app, which mchenry downloaded while traveling across the united states. according to the sliding-scale analysis, the factor most likely to confer jurisdiction on the new york court is
The factor that would be able to confer jurisdiction on McHenry would be the degree of interactivity via the app between McHenry and OneWorld.
What is meant by jurisdiction?This is the term that has to do with the right that the right and the power that is needed in order to interpret the constitution of a particular place. The issue is based on the fact that the lawsuit that McHenry filed is in order to fight the company that is called one world.
The sliding scale analysis can be defined as the analysis that is used to determine the exercise of jurisdiction when a person is outside a particular state, This would be based on the internet contract.
Hence we can say that The factor that would be able to confer jurisdiction on McHenry would be the degree of interactivity via the app between McHenry and OneWorld.
Read more on jurisdiction here: https://brainly.com/question/10377896
#SPJ1
the most a person (age 21) can be fined for a first conviction of driving while under the influence of intoxicating liquor with no injury involved is: $3,000 $1,000 $2,000 $5,000 submit answer
The most a person (age 21) can be fined for a first conviction of driving while under the influence of intoxicating liquor with no injury involved is: $2000.
What does it mean to drive under the influence?This is the term that is used to describe the fact that the driver that was found behind the wheel on a road had taken a considerate amount of alcohol or other substances to the point of intoxication.
This is a serious issue because it can lead to the death of other persons when they drive recklessly. Hence we can say that The most a person (age 21) can be fined for a first conviction of driving while under the influence of intoxicating liquor with no injury involved is: $2000.
Read more on DUI here
https://brainly.com/question/988799
#SPJ1
Reporting revenues only when cash is received and expenses only when cash is paid is called the.
Reporting revenues only when cash is received and expenses, only when cash is paid, is called the With this method, revenue is recognized in the income statement only when the money is received. Fees are charged only when paid in cash. The cash method is typically used for financing small businesses and individuals.
In the cash method, income is recorded when money comes in, and expenses are recorded when it is paid. This is often considered the easiest method. Accrual accounting recognizes revenue when the sale occurs, regardless of whether cash is received. (In cash-basis accounting, income is not reflected on the income statement until the money is received.)
Learn more about revenue at
https://brainly.com/question/16232387
#SPJ4
Directions and Analysis
Task 1: Researching Emerging Technologies
Conduct online research and choose three emerging technologies that have the potential to
affect businesses positively.
Task 2: You have already identified three emerging technologies that have the potential to affect businesses. In this task, you will conduct research to learn about the uses and potential benefits of these technologies
Task 3: Conduct online research to learn about the lifestyle of emerging technologies. Provide a brief explanation of the generalized lifecycle of emerging technologies. Also, comment on the phase where the technology you have chosen lies.
Answer:
steadfast hearts steadfast hearts steadfast hearts steadfast hearts steadfast hearts steadfast hearts steadfast hearts steadfast hearts steadfast hearts steadfast hearts steadfast hearts steadfast hearts steadfast hearts
most executives believe that they and their firms behave in an ethical manner and that it is in their best interests to do so. how can a firm’s ethical conduct increase its long-term profitability? chegg
Most executives believe that they and their firms behave in an ethical manner and that it is in their best interests to do so. How can a firm's ethical conduct increase its long-term profitability is expenses and the need to pay fines.
A profitability ratio is a degree of profitability, that's a manner to degree an organization's overall performance. Profitability is surely the capability to make a profit, and a profit is what is left over from earnings earned after you have deducted all prices and charges related to incomes income.
The maximum usually used profitability indicators are net earnings margin, EBITDA margin, EBIT margin, go back on equity go back on invested capital (ROI), go back on fairness and return on capital hired.
Profitability analysis can count on sales and profit potential precise to components of the marketplace along with client age corporations, geographic regions, or product kinds. Profitability analysis can help key employees in an employer to: discover the most and least worthwhile clients.
Learn more about profitability here https://brainly.com/question/23103804
#SPJ4
lita lopez started biz consulting, a new business, and completed the following transactions during its first year of operations. lita lopez invested $67,000 cash and equipment valued at $31,000 in the company in exchange for its common stock. the company purchased a building for $46,000 cash. the company purchased equipment for $5,900 cash. the company purchased $3,300 of supplies and $1,600 of equipment on credit. the company paid $860 cash for advertising expenses. the company completed a financial plan for a client and billed that client $4,100 for the service. the company designed a financial plan for another client and immediately collected a $8,800 cash fee. the company paid $1,500 cash in dividends to the owner (sole shareholder). the company received $3,100 cash as partial payment from the client described in transaction f. the company made a partial payment of $800 cash on the equipment purchased in transaction d. the company paid $2,000 cash for the secretary’s wages for this period. required: 1. enter the amount of each transaction on individual items of the accounting equation. 2. determine the company's net income.
1. Entering the amounts of the transactions on individual items of the accounting equation is as follows:
Accounting Equation:Transaction Assets = Liabilities + Equity
1. Cash $67,000 $67,000
1. Equipment 31,000 31,000
2. Building 46,000
2. Cash -46,000
3. Equipment 5,900
3. Cash -5,900
4. Supplies 3,300 $3,300
4. Equipment 1,600 1,600
5. Advertising - 860 -860
6. Service Rev 4,100 4,100
7. Service Rev. 8,800 8,800
8. Dividends -1,500 -1,500
9. Cash 3,100
9. Receivable -3,100
10. Cash -800 -800
11. Wages -2,000 -2,000
2. The company's net income is $10,040.
Transaction Analysis:1. Cash $67,000 Equipment $31,000 Common Stock $98,000
2. Building $46,000 Cash $46,000
3. Equipment $5,900 Cash $5,900
4. Supplies $3,300 Equipment $1,600 Accounts Payable $4,900
5. Advertising $860 Cash $860
6. Accounts Receivable $4,100 Service Revenue $4,100
7. Cash $8,800 Service Revenue $8,800
8. Dividends $1,500 Cash1,500
9. Cash $3,100 Accounts Receivable $3,100
10. Accounts Payable 800 Cash $800
11. Wages Expense $2,000 Cash $2,000
Income Statement:Total revenue = $12,900
Advertising expense 860
Wages 2,000
Total expenses = $,2860
Net income = $10,040
Thus, the accounting equation shows that the equation remains in balance with each transaction, implying that the two sides are always equal.
Learn more about the accounting equation at https://brainly.com/question/27891900
#SPJ1
a business person from the united states was introduced to the president of a company in another country
A businessperson from the United States was introduced to the president of a company in another country, and the businessperson immediately began treating the president as his equal. The president might be particularly offended if he is from Japan.
What is a U.S. Embassy?The base of operations for American diplomats stationed abroad is an embassy. It is often led by an ambassador, who serves as the president of the United States representative to the host nation. The capital city is often where an embassy is located. It might have consulate branches in other cities. Both foreign embassies and consulates in the United States as well as American embassies and consulates overseas have a special status. The security of American diplomats and the vicinity of an embassy is the responsibility of the host government, but the embassy itself belongs to the nation it represents. No one from the host nation may visit an embassy without authorization.
To learn more about U.S. Embassy, visit:
https://brainly.com/question/10257451
#SPJ4