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If total assets equal $345,000 and total stockholders' equity equal $120,000, then total liabilities must equal - Answer $225,000 Stockholders' equity is increased by ____(1)____ and decreased by ____(2)____ - Answer (1) revenues ... (2) expenses. The collection of a $1,000 Accounts Receivable - Answer increases an asset $1,000 ... and decreases an asset $1,000.

Short-term Investment - Answer Are securities held by a company that are readily marketable and intended to be converted into cash within the next year or operatin cycle, whichever is longer Readily Marketable - Answer An investment is readily marketable when it can be sold easily whenever the need for cash arises Management's Intent to Convert - Answer Management intends to sell the investment within the next year or operating cycle, whichever is longer

2% of $20,000 - Answer A company receiving payments of a $20,000 accounts receivable within 10 days with terms of 2/10, n/30, would record a sales discount of: Depreciation expense for the year is $72,000 - Answer Equipment purchased at the beginning of the year for $200,000 with a residual value of $20,000 is being depreciated over a 5 year period of using the double-declining balance method. Which of the following statements is correct concerning the financial statement at the end of the ...

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? - Answer $296,000 A corporation uses the indirect method for preparing the Statement of Cash Flows. A fixed asset has been sold for $25,000 representing a gain of $4,500. The value in the operating activities section regarding this event would be - Answer ($4,500)

ong term investments - Answer are expected to be held for more than one year or the operating cycle. Examples: notes receivable and investments in stocks and bonds expected to be held for more than the longer of one year or the operating cycle. plant assets - Answer are tangible long-lived assets used to produce or sell products and services. Examples: equipment, machinery, buildings, and land that are used to sell products and services. Also called property, plant, and equipment (PP&E) ...

Who is Alpha Kappa Alpha Sorority's chief officer? What is her role? (3 roles) - Answer Supreme Basileus 1.She presides all meetings of the Boule and Directorate. 2. She appoints the chairmen and members of all committees of the sorority, and fill any vacancies except as otherwise provided for in the Bylaws. 3. She supervises over employed personnel and over the Boule. When would you be eligible to run for this office? (3 reasons) - Answer After serving at least one term as a Basileus of...

an adjusted trial balance - Answer is a list of all accounts and their balances after adjusting entries intangible assets - Answer patents, copyrights, franchises, and trademarks corporation - Answer the form of business organization that is legally separate from its owners

Which of the following elements of the balanced scorecard shows the expected cause- and-effect relationships among strategic objectives? - Answer Strategy Maps Alexander and Kristin are executive managers at Safety First Fall Safety Equipment Co. They decide to discontinue gathering data and calculating performance metrics within their organization because the company's balanced scorecard performance metrics have produced several quarters in a row of good news. They assume the positive res...