Consider Emily's balance statement:

Emily's supervisor asked her to revise the balance statement. What does she need to revise? Why?

A B
1 Assets FY 2014
2 Accounts Payable $2,000
3 Wages $75,000
4 Taxes Payable $10,000
5 Mortgage Payable $15,000
6 Total $102,000
7
8 Liabilities FY 2014
9 Cash $800
10 Inventories $36,000
11 Investments $25,000
12 Accounts Receivable $61,800
13 Total $122,800
14
15 Balance -$20,800

Answers

Answer 1

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 2

Answer:

Emily has mixed up the assets and liabilities. All the cells under “assets” are really liabilities and vice versa.

Explanation:


Related Questions

Leah has $300 in her checking account and her first bank credit card. She wants to purchase a couch for $250, and Christmas gifts for $200. What are her options? What should she do?

Answers

Answer:

see below

Explanation:

Leah can choose between the following two options.

Option 1:

Leah can withdraw $250 from her checking account and pay for the couch in cash. If she has a debit card on her checking account, she can use it to pay for the couch. The Christmas gift costs less than the couch. She can use a credit card to pay for the gift. Since credit card transactions are debts, she will incur a lower amount of debt.

Option 2:

Depending on her credit card limit, she can pay for the two items on credit. Once the credit statement is generated, she can use the money in her checking account to offset part of the credit card balance.

Answer:

Leah can withdraw $250 from her checking account and pay for the couch in cash. If she has a debit card on her checking account, she can use it to pay for the couch. The Christmas gift costs less than the couch. She can use a credit card to pay for the gift. Since credit card transactions are debts, she will incur a lower amount of debt.

Explanation:

Completed work for a client and sent a bill for 27000 to be paid within 30 days

Pass a journal entry for the above transaction​

Answers

Answer:

See below

Explanation:

This is an ordinary business activity that results in revenue for the company. Revenue for the business will increase by 27000. Revenue is an equity account; there will be a credit entry of 27,000.

The client will pay within 30 days. The account receivables ( assets account) will increase (debit)by 27000.

The journal entry will be

Account receivable  Dr.  27,000

Sales / services account     Cr. 27,000

which of the following is an internet job search "do"
a. post your resume without considering privacy
b. pay attention to all directions before responding to job postings
c. assume that email is informal, private , or temporary.
d. take a passive role during your online job search.​

Answers

I believe it's B.......

Answer:

B

Explanation:

coffee to
growing more
16)
16]
2 TGH are a public limited company which makes sports shoes (trainers). It makes
a variety of designs for the mass market. The mass market is for young people
who want fashionable sports shoes as well as those who play sport. The Directors
segment of customers who have a medical problem with their feet and need
recently decided to target a niche market which is for a particular market
b) Identify two examples of the different markets for TGH products.
c) Identify and explain two reasons why TGH sell to a niche market.
d) Identify and explain two advantages to TGH of segmenting the market
e) Do you think the Directors of TGH were right to target a niche market
or should they have stayed with just a mass market? Justify your answer.
specially designed shoes,
a) What is meant by a 'niche market'?
for sports shoes.
Revision checklist
In this chapter you have learned:
the role of marketing-identifying and satisfying customer needs as well as​

Answers

Answer:

Is this reading then answering questions or....

Explanation:

I dont get the question sry but I'll try to help

According to the article, how can you guarantee that your talk or speech will be interesting to your audience? Is this good advice? Why or why not? Justify your response.

Answers

Answer:

7 c's of communication

Explanation:

Talk or speech needs to be interesting for audience, to attain the desired goal of communication.

The public communication would be effective & interesting ; if it satisfies 7 c's of communication - Clear, Concise, Correct, Coherent, Complete, Courteous, Considerate.

Communication not satisfying one or many of above C's is likely to be ineffective &, or uninteresting for audience

Mark Simpson earns $980 biweekly as a security guard for Albany Med. His group medical insurance costs $7,000 a year. The company pays 90% of the cost of medical insurance. How much is deducted from Marks biweekly paycheck for medical coverage

Answers

Answer:

$26.923

Explanation:

Biweekly payment means payments every 14 days or 2 weeks. One year has 52 weeks. Mark is paid 26 times per year

if the company pays 90% of $7000, then Mark pays 10% of $7000

Mark pays = 10/100 x $7000

=0.1 x $7000

=$700

The amount of $700 is spread over 26 weeks.

Each paycheck, Mark will be deducted

=$700/26

=$26.923 per check

Select the correct answer.
Kruger Trading Inc. buys goods on credit. In which two accounts will the company post this transaction after entering it into the journal?

Answers

Answer:

с. Purchases and Creditors

Multiple choices

A. Goods and Cash

В.Goods and Creditors

с. Purchases and Creditors

D.Purchases and Cash

Explanation:

The purchase account is used to record purchased goods. Accountants and bookkeepers usually do not operate a goods account. When goods are purchased, they increase the purchases account.

Purchased goods are either paid in cash or on credit. Cash purchases reduce cash held in the business and are recorded in the cash account. Credit purchases increase liabilities and are recorded in the creditor's accounts.

Select the correct answer.
Which technique of advertising shows that multiple consumers use a product to build consumer trust in the procduct

Answers

Answer:

D. Bandwagon advertising

Explanation:

Bandwagon advertising is a type of propaganda advertising technique that is employed to sway the emotions of the audience to get them to purchase a particular product or service simply because many other persons are using such. So, the audience, in a bid to join crowd, they will willingly purchase such product or services on the ground that it is tested and trusted by many users.

For example, a beverage company can make ads about one of their beverage products and tag it, "America's favorite tea". This will give the notion to the target audience that the tea is mostly accepted and used by many Americans, and as such will go ahead to purchase it.

Answer:

D. Bandwagon advertising

Explanation:

The test says the answer is correct got 100%

HELP


An example of soft skils that conveys ideas and influences change.

A.) Personal accountibility
B.) Hard skills
C.) Self-motivations
D.) Communication

Answers

I am pretty sure it is C

Under the Federal Insurance Contributions Act, where do the funds for Social
Security and Medicare come from?

Answers

Answer:

It is deducted from the workers

Explanation:

All employers are required to deduct social security and medicare taxes from their employees' paychecks. The deducted amounts are remitted to the government through the social security administration authority.

Therefore, the funds for Social  Security and Medicare come from the employees' paycheck. It is the workers who contribute these funds from their income.

Help Tony evaluate his applicants based on their mean and median credit scores.
a.
Jeff has the highest mean score, but Paula has the highest median score.
b.
Neil has the highest mean score, but Jeff has the highest median score.
c.
Neil has the highest mean score and the highest median score.
d.
Paula has the highest mean score, but Jeff has the highest median score.

Answers

Answer:

b

Explanation:

just took the quiz

Neil has the highest mean score, but Jeff has the highest median score.

What is the difference between a credit score and a credit rating?

Credit ratings are expressed as letter grades and used for businesses and governments. Credit scores are numbers used for individuals and some small businesses. An individual's credit score is based on information from the three major credit reporting agencies, and scores range from 300 to 850.

What is a credit report a credit report is a number representing your creditworthiness?

A credit score is a number between 300–850 that depicts a consumer's creditworthiness. The higher the score, the better a borrower looks to potential lenders. A credit score is based on credit history: number of open accounts, total levels of debt, repayment history, and other factors.

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Describe the difference between an idea and a business opportunity.

Answers

An idea isn’t really a proven concept, while a business opportunity is a proven concept you’ll likely make more money or whatever having a business opportunity.

Which option is an example of labor as a factor of production?
O A. A tree used to make paper
B. An artist painting a picture
O C. A government increasing taxes
O D. An industrial assembly line

Answers

Answer: B

Explanation: An artist painting a picture

An example of labor as a factor of production is  An artist painting a picture. Thus the correct option is B.

What is a factor of production?

The factors of production are referred to as elements or resources that are used in the process of production in order to strengthen the economy of the country. This factor includes land,  labor, capital, machinery, and so on.

An artist refers to an individual who has a keen interest in the artwork. He is a person who creates unique images by using creativity, innovation, colors, knowledge, and an artistic approach.

Labor as a factor of production is considered physical labor involved in producing goods and services. Here the artist is physical labor that is creating painting considered as a factor of production.

Therefore, option B is appropriate.

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Write a three- to five-sentence paragraph that defines economics. Based on your definition, explain why it is difficult to consider economics an exact science. You may want to consider how economists approach economics to help you explain your answer.

Answers

Answer: See explanation

Explanation:

Economics is referred to as a social science that is concerned with how goods are produced, how they're distributed and how they're consumed. Economics is the social science that studies why human beings behave the way that they do.

It is difficult to consider Economics as a science because it lacks a hypotheses that's testable. Also, there is lack of consensus and the scientific method is not followed in Economics.

Q1. This organizational structure violates the unity of
command principles because of dual reporting
relationship.

A. Functional organization
B. Line type organization
C. Matrix organization
D. Network organization

Q2. It is a collection of independent, mostly single
function enterprises that collaborate on a good
or service.

A. Divisional organization
B. Functional organization
C. Matrix organization
D. Network organization​

Answers

Question:

Q1. This organizational structure violates the unity of command principles because of dual reporting relationship.

Q2. It is a collection of independent, mostly single function enterprises that collaborate on a good or service.

Answer:C. Matrix Organization A. Divisional Organization Explanation:

That's my opinion and I hope it helps ^_^

#CARRYONLEARNING #STUDYWELL

Services’ marketing is not as advanced as products marketing.
true or false

Answers

Answer:

false

Explanation:

A new business should be based on an entrepreneur's individual interests because the entrepreneur must...
A. have sufficient confidence to succeed.
B. be willing to take personal responsibility.
C. have enough determination to work alone.
D. dedicate as many hours as needed to the work.
Will mark brainliest!

Answers

Answer:

A.................

Explanation:

look at my pokemon

Answer:

D

Explanation: because i said so but it might not be right

The advantages of personal financial planning include:
a. Increased effectiveness in obtaining, using and protecting your financial resources
b. Increased control of your financial affairs by avoiding excessive debt and bankruptcy
c. Improved personal relationships resulting from better communicated financial decisions
d. All of these
e. None of these

Answers

Answer:

d. All of these

Explanation:

Personal financing is the process of organizing and managing an individual or household's income to achieve set financial goals. It involves managing personal finance activities such as income, expenditure, savings, and investments. The primary objective of personal finance is to assist individuals maximize their current incomes and make future plans. As a result, they can achieve both short term and long term goals.

Which of the following is a common behavior for an active listener?
a.
Look at your notes to make sure they are accurate
b.
Keep track of the number of times the speaker agrees with you
c.
Repeat the speaker’s argument back in new words
d.
Argue against the speaker’s points one at a time

Answers

Answer: Repeat the speaker's argument back in new words

Explanation: It shows that you understood and listened to their whole speech. Understandning is a big part in active listening

Answer:

c

Explanation:

what are some good jobs for an 15 or 16 year old ?

Answers

Answer:

dog walker,babysitting, fastfood restaurants

Answer:

Babysitter, Newspaper Delivery, Lawn Mowing, Lifeguard, Working Retail, Fast Food Server

Explanation:

he loves me, he gives me all his money, that gucci prada comfy, my suger daddy:)

Answers

Answer:

what did he sayyyyyyyyyy

dunn dunn dun dunn dun

explain fixed capital​

Answers

Answer:

see below

Explanation:

Fixed capital refers to the durable assets required to start and maintain business operations. They are long-term investments such as equipment,  plants and machinery that are used repeatedly over a long time to produce goods and services. The term fixed implies that these assets are not consumed or get diminished in the production process.

Fixed capital comprises tangible assets that are not meant for sale in the current period. They have a useful life of several years, necessitating depreciation techniques to be applied.


What are the two factors used to calculate productivity?
A. Goods produced and number of customers
B. Resources invested and goods lost
C. Goods produced and employees hired
D. Goods produced and resources invested

Answers

Goods produced and resources invested re the two factors used to calculate productivity.

How productivity is measured?

Productivity is measured from different factors in the organization like the profit generate from the sales, number of customer increases, the amount of money invested in the company, the goods that are consumed of sell within span of time and others.

Thus, option D is correct.

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Answer:

Goods produced and resources invested

Explanation:

Which of these is a financial service offered to business owners?
A.) Core Competencies
B.) Dividend payments
C.) Insurance
D.) Operational efficiencies

Answers

Answer:

C.) Insurance

Explanation:

Financial services include the services offered by banks, insurance companies, investment houses, real estate brokers, lenders, and finance companies. These services have a commercial aspect of either saving (pooling of resources), borrowing, or investing.

In this list, insurance is a financial service. Insurance is the purchase of protection or cover against risks. Insurance companies undertake to provide financial compensation in the event of loss arising from the risk insured against in exchange for premiums. Insurance companies pool resources together to compensate a member who has suffered a financial loss.

Is this good advice? “ if you are behind on your loans, but no in ‘ default’. Don’t even talk with your loan companies. Just go talk with your debt settlement


Yes or no

Answers

Answer
Yes!
I think it’s good advice.

If you are behind on your loans, but not in ‘ default’. Don’t even talk with your loan companies. Just go talk with your debt settlement. The advice can be recommended.

What is a loan?

The loan is referred to the amount which an individual borrows from any financial institution at a certain rate of interest which is payable at a later date in order to start any business or any other business work.

Annual percentage yield, or APY, is the abbreviation for the rate of return on an investment that is actually realized after taking into account the impact of investment returns.

Since the cost of borrowing overall is lower, accounts with higher APRs typically have lower rates than those with lower APYs.The difference between APR and APY is greater, and interest compounds more frequently as well, increasing.

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what is another name for needs (select all that apply)
fixed expense, varible expense essentail expense, and discretionary expense

Answers

Answer:

essential expense

Explanation:

Needs are the items we must have to survive or accomplish somethings. A need is that thing one cannot afford not to have or things we cannot do without. Food, shelter, and clothing are considered basic needs because, without them, one's survival is threatened.

Needs are, therefore, essential for survival. Any expenditure on needs is an essential expense.

what is judiciary and executive?

Answers

Judiciary is the judicial authorities of a country; judges collectively.
Executive is the person or branch of a government responsible for putting policies or laws into effect.

Select the correct answer.
Why are borrowing and lending money important in the United States?
A.
They ensure that people and businesses can buy what they need.
B.
They ensure that money is distributed equally and fairly to all.
C.
They ensure that the government's financial regulations are followed.
D.
They ensure that the nation can avoid an economic recession.

Answers

Answer:

A.

They ensure that people and businesses can buy what they need.

Explanation:

Borrowing involves requesting and receiving a huge sum of money in a lump sum. Households and firms borrow from lenders to finance business expansion or domestic consumption.

In the economy, borrowing is significant as it facilitates the acquisition of start-up capital, capital goods, and household developments. Without borrowing and lending, these investments and consumption would not be possible as they require large sums of money to initialize. If firms and households depended on savings for capital and consumption expenditure, the rate of economic growth would be very slow. It would take many years to achieve the substantial amount needed for expansion and development projects.

Answer:

A. They ensure that people and businesses can buy what they need.

Hope this helps!

Explanation:

What is it called when you are able to touch and feel a product?

Answers

Product assault, stop this it goes against their rights

Entrepreneurs affect the economic decisions a country makes by:

A. convincing societies to give up their most expensive wants
B. producing useful goods regardless of their demands or scarcity
C. earning consistent salaries that make the economy more stable
D. identifying new ways for people to fulfill their wants and needs

Answers

Answer:

D. identifying new ways for people to fulfill their wants and needs

Explanation:

Entrepreneurs start new businesses in society. They are quick to spot and identify needs and wants in the market. Entrepreneurs establish businesses to provide solutions to these needs and want at a profit.

Entrepreneurs use their creativity to come up with new and unique products that offer solutions to society's problems. They innovate better products and ways of offering services that are friendly and more cost-effective. Entrepreneurship goes hand-in-hand with creativity and innovation.

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