Answer:
Matching the financial statement items to financial statement categories:
Financial Statement Items Financial statement
a. Notes payable to banks Liability (L)
b. General and administrative Expense (E)
c. Accounts payable
Liability (L)
d. Dividends payable Liability (L)
e. Retained earnings Shareholders' equity (SE
f. Cash and cash equivalents Asset (A)
g. Accounts receivable Asset (A)
h. Provision for income taxes[1] Expense (E)
i. Cost of goods sold Expense (E)
Answer:
Current liabilities:
Notes payable $8,000
Non-current/long-term liabilities:
Notes payable $1,224,000
Explanation:
The actual amount of notes payable at 31st December is the difference between the short-term debt and the amount of cash realized from the issue of common stock whose proceeds are meant to be used in liquidating the short-term debt.
The actual amount of notes payable=$1,232,000-$1,224,000=$8,000
By issuing common stock of $1,224,000 to repay the short-term debt,the $1,224,000 is effectively converted to funding of long-term nature,hence classified as long-term liabilities
Answer:
Cash and equivalents $700 Debit*
Accounts Receivables $700 Credit*
Explanation: The cash represents a debit because we are receiving the cash from a sale already made and the credit is made accounts receivable, because the product was previously sold only that a payment term was given to the person who is currently fulfilling, then the account receivable becomes cash as part of the company's operating cycle.
Answer:
This is a part of my Economic Resources doc and I'm not sure about the second part of the question but I hope it helps!
Explanation:
Ｅｃｏｎｏｍｉｃ Ｒｅｓｏｕｒｃｅｓ
For a firm (producer) to make any product, it needs to use ECONOMIC RESOURCES. These are INPUTS to be used together or combined efficiently to produce goods/services.
Ｗｈａｔ ｙｏｕ ｎｅｅｄ ｔｏ ｋｎｏｗ：
What is a PRODUCER?
a person, franchise, brand or country etc. that makes, grows, or produces goods and services for sale to customers or consumers.
What is a RESOURCE?
a stock or supply of goods, materials, and products that can be bought by a person or organization in order to function effectively.
What is an ECONOMIC resource?
Natural supplies that can be used to make a product. It is important for the success of the company.
Ｃｌａｓｓｉｆｉｃａｔｉｏｎ ｏｆ Ｅｃｏｎｏｍｉｃ Ｒｅｓｏｕｒｃｅｓ：
Natural resources (LAND)
Natural resources are ones who are not man made and are there naturally. This could be land, light, water, electricity, etc.
Human resources (LABOUR)
Capital resources (CAPITAL)
Entrepreneurship (ENTERPRISE)
Answer:
Appropriate language, a cosmetologist can demonstrate this by always speaking in a tone and at a volume that is appropriate for the setting, and never using foul language no matter what.
