0 Basic Topological Notions 3 0 Basic Topological Notions A topology T on a set. Liabilities and Stockholders' Equity C. Revenues and Expenses D. Liabilities and Expenses. A. Summarizes the changes in retained earnings for a specific period of time. Given the accounts below, choose all of the ones that affect equity. Reports the changes in assets, liabilities, and stockholders' equity over a period of time. | Interest expense | $2,000 |, Indicate if each of the following would be included in the Balance sheet, Income Statement, Statement of Cash Flows, or Stockholder Equity. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Depreciation. Statement of owner's equity C. Income statement D. Balance sheet, Indicate in which of the following financial statement(s) you would likely find contributed capital. c) Stockholders' equity includes only retained earnings. The mean lobby waiting times were (in order): 25.5,16.5,22.5,18,13,10.525.5,16.5,22.5,18,13,10.525.5,16.5,22.5,18,13,10.5, 14,4.5, 12.5, and 14 minutes. d Which of the following is a way to track your spending? Healthcare in the United States is far outspent than any other nation, measured both in per capita spending and as a percentage of GDP. If a customer makes a partial payment of $100 on a service for which you have already billed him, you would record this transaction into the accounting equation by: Increasing Cash and decreasing accounts receivable. Recurring expenses should be planned for after looking at your wants. b) Revenues are recognized when cash is available, and expenses are recognised when cash is to be paid using current financial resources OC) Revenues are recognized when earned, and Show transcribed image text Expert Answer 100% (1 rating) The remainder of the bill went on account. Q38 Which of the following statements best describes 'expenses': a. Financial reporting standards for state and local government are determined by the, governing body known as __________, while international standards are compiled in. Identify the broad opportunity areas of accounting. c. recurring expenses should be planned for after looking at your wants. Stockholders' equity, credit c. Revenues, credit d. Expense, debit. | Interest expense | $2,0. Lori paid $12,500 to the bank for her business mortgage payment last year. Company Registration Number: 61965243 Liabilities, in contrast to assets, do not add to the worth of a company's assets. b. amounts ready for the financial statements. If Pedro and Susanna have money put aside for emergencies, in which of the following forms would it be of least benefit to Income statement b. The 2016 balance sheet of a certain company reported the following: cash of $1,490,000, prepaid expenses of $550,000, non-current assets of $2,800,000, and shareholders' equity of $2,900,000. The adjusted trial balance shows: a. amounts that may be out of balance. b. (c) balance sheet. a) It reports a company's revenues and expenses. -a liability has been incurred. Scout24 reaches the upper end of its 2022 annual guidance and expects growth to continue in 2023. a.) What We Offer: * Full Time Benefits (Medical, Dental, Vision . Given the statements below, choose the most accurate definition of dividends. These groups include: internal and external A lender (creditor): loans money or other resources to a business What is a shareholder? Sally Smith decided to start a sea shell business organized as a corporation. \text{Total paid-in capital } & \cdots\cdots\cdots\cdots\cdots\cdots\cdots & \$4,584,000\\ a.) The owner is responsible for property taxes and maintenance expenses only The tenant is responsible for capital expenses up to the percentage rate The owner is responsible for Show transcribed image text Expert Answer a. summarizes the changes in retained earnings for a specific period of time b. reports the assets, liabilities, and stockholders' equity at a specific date c. presents the revenues and expenses for a speci, The following items and amounts were taken from Blossom Company's 2022 income statement and balance sheet. c.) Terry recorded $64,000 in costs to operate his pizzerias last year. 2. d.) Susan recorded $82,000 as profit last year. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Sales. Record this transaction in the accounting equation for Russell's consulting service by: Increasing both cash and accounts receivable; and increasing revenues. Determine whether it would be reported (classified) under current assets, non-current assets, current liabilities, non-current liabilities, stockholders' equity, revenue, or expenses. | Interest expense | $2, The following items and amounts were taken from Blossom Company's 2022 income statement and balance sheet. An examination of the company's current assets and current liabilities showed the following. Which of the following statements best describes the carrying amount of an asset? Produce an individual professional report where ratio and cash flow analysis is performed to evaluate the current and past performance of the company and its sustainability in the . Jackson's Catering Company provided cookies worth $3,000 to the local college. Sales budget c. Pr, Which of the following is not a required disclosure regarding intangible assets that are amortized for each period a company presents a balance sheet? A. Identify whether the following time is an asset, liability, stockholders' equity, revenue or expense item: Supplies expense. Course Hero is not sponsored or endorsed by any college or university. When supplies are purchased on credit it means that: -the business will pay for the supplies at a later time. a. U.S. government bond b. Which of the following statements describes expenses? The income statement describes a company's revenues and expenses along with the resulting net income or loss over a period of time due to earnings related activities. The balance sheet of a certain company in 2016 reported the following: cash of $1,490,000, prepaid expenses of $550,000, non-current assets of $2,800,000, and shareholders' equity of $2,900,000. What a business owns will always equal what it owes to creditors and owners. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Trademark. The Sarbanes-Oxley Act determines the standards of financial reporting for state and local government. Unit 1 Challenge 1 A company reports the following income statement and balance sheet information for the current year: Net income $125,000 Interest expense 25,000 Average total assets 2,000,000 Determine the rate earned on total assets. Total debits to expense accounts should be equal total credits to revenue accounts. At the beginning of 2011, Thompson Service, Inc., showed the following amounts in the stockholders equity section of its balance sheet: Stockholdersequity:Capitalstock,$1parvalue,500,000sharesauthorized,382,000issuedandoutstanding$382,000Additionalpaid-incapital:capitalstock4,202,000Totalpaid-incapital$4,584,000Retainedearnings2,704,600Totalstockholdersequity$7,288,600\begin{array}{|cc} 53. (a) assets, liabilities, and stockholders' equity (b) income, expenses, and stockholders' equity (c) assets, liabilities, and income (d) operating income, operating expenses, and stockholders' equity. Which of the following statements is not true about liabilities? Dan and Den, Inc. reports the following assets and liabilities. What would you recommend?". Calculate the following: Acid-test ratio. Which of the following statements describes expenses? Smartbook: Chapter 4 Completing the Accountin, Accounting Chapter 3: Connect Multiple Choice, Calculus for Business Economics Word Bank, Capitalstock,$1parvalue,500,000sharesauthorized,382,000issuedandoutstanding, Additionalpaid-incapital:capitalstock, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Don Herrmann, J. David Spiceland, Wayne Thomas, Eric W. Noreen, Peter C. Brewer, Ray H Garrison. b. A. Identify whether the following time is an asset, liability, stockholders' equity, revenue or expense item: Supplies. . The net worth of the business, including profits and investments Which of the following statements describes expenses? Answer Link Recurring expenses are expenses that can never be stopped. b.) Answer Link Plot the 10 means in an x\bar{x}x-chart; include the critical boundaries on the chart. Search engine optimization (SEO) is the process of improving the quality and quantity of website traffic to a website or a web page from search engines. Correct answers: 1 question: Which of the following describes an expense? -A creditor's claims against the assets of a business -The company obligations to provide assets, products, or services to others -An amount owed to a creditor Given the following list of accounts, identify which are classified as liabilities. Consider the following account: Intangible property. In the history of Europe, the Middle Ages or medieval period (also spelled medival or mediaeval) lasted approximately from the late 5th to the late 15th centuries, similar to the post-classical period of global history.It began with the fall of the Western Roman Empire and transitioned into the Renaissance and the Age of Discovery.The Middle Ages is the middle period of the three traditional . a. Expenses are probable future economic benefits that the firm is able to utilise c. Expenses are the book value of the ownership interest in the firm d. Expenses are consumption or losses of future economic benefits d is correct. 0. If the item does not belong on the classified balance sheet, put an X. Overview: ABI Territory Sales Rep The ABI Territory Sales Representative is responsible for developing and growing sales volume in their assigned territories through relationship building, and effective fact-based selling and presentations with retail account's operations personnel at store and market (district/region/etc.) d.) Rob calculated the worth of his restaurant equipment to total $27,000. A company reports the following income statement and balance sheet information for the current year: Net income $410,000 Interest expense 90,000 Average total assets 5,000,000 Determine the rate earned on total assets. \textbf{Stockholders equity:} & & & & \\ The cost of a building is recorded as an asset. c. assets, liabilities, and stockholders' equity only. If an item would not be included on any of these, indicate N/A. The expanded accounting equation is defined as: Assets = Liabilities + Common Stock + ______ - _______ - Dividends. Compute the totals that would appear in the corporation's basic accounting equation (Assets = Liabilities + Stockholder's Equity (Capital Stock)). -Expenses are the costs necessary to earn revenue. Statement of cash flows B. Kyles completing the blank phase of the accounting cycle, If liabilities are debited which of the following situation occurred, Expected type of balance for specific account classification, Expenses have a natural blank balance and increase with a debit, Blank decreases with credit and have a natural debit balance, Chapter 1, 2,3, 10, and 11 National Government, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Fundamentals of Financial Management, Concise Edition, Century 21 Accounting: Multicolumn Journal. Only retained earnings for a specific period of time includes only retained earnings be included on any of,... 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