kenzi is a 32-year old dentist with her own office. her assets and liabilities are listed below. what is the total value of her assets?
Answers
I would need a list of Kenzi's assets and liabilities in order to answer your question. Without that information, I cannot provide a total value of her assets. Please provide me with the necessary information so I can assist you better.
However, I can guide you through the process of calculating the total value of her assets:
Step 1: Identify all the assets Kenzi owns. These can include her dental office, dental equipment, cash, savings, investments, and personal property like her home and car.
Step 2: Assign a monetary value to each asset. This can be the current market value or the original purchase price, depending on the type of asset.
Step 3: Add up the values of all the assets to find the total value of Kenzi's assets.
Once you've completed these steps, you'll have the total value of Kenzi's assets.
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In this assignment, you'll use a word processor to create a newsletter based on the following scenario: Suppose that you are a secretary at a high school. You need to provide the students with information about upcoming events and a reminder about the cell-phone policy. The cell-phone policy states that all cell phones need to be turned off while on the school campus until dismissal time. After the dismissal bell, phones may be turned on and used. The events that should be in the newsletter include a dance, chess tournament, community garden, basketball game, and fundraiser.
Answers
A high school secretary is under obligation to convey the students regarding the rules and regulations as well as the upcoming events that are about to take place in a high-school through a newsletter.
What is a newsletter?A bulletin of information, which is circulated among the members of an organization and any such person who has substantial interest in such information, is regarded as a newsletter.
A newsletter is attached in the form of an image with this part for the purpose of reference.
Hence, a newsletter that is required to be circulated by the high-school secretary will be in the form of the image being attached.
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Abc currently has the following quotes: market maker bid ask size mm1 10. 00 10. 50 3 × 2 mm2 10. 20 10. 45 4 × 3 mm3 10. 25 10. 60 3 × 2 the inside bid good is for a) 300 shares. B) 200 shares. C) 400 shares. D) 100 shares
Answers
Insider offer is for 300 shares.
An insider's bid is the highest bid, or the most a person is willing to pay. In this situation, MM3 is willing to pay 10.25 for 300 shares.
In economics, supply is defined as the seller's willingness to sell/deliver various quantities of goods at various price levels within a certain time and under certain circumstances. Certain times indicate a certain period or time, and certain conditions indicate a state of ceteris paribus. In order to answer consumer needs, producers provide various goods and services.
The goods and services produced are then sold to consumers in the market according to a certain price level. Demand has to do with buying and using, while supply has to do with supply and sale. So, supply is the amount of goods and services available for sale at various price levels and situations.
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The federal reserve system was created as a result of the need for financial stability shown by what event?.
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The Federal Reserve System was created as a result of the need for financial stability shown by the Panic of 1907. The Federal Reserve System is the central banking organization of the United States, which was created by the United States Congress in 1913 to provide the country with a more stable and secure financial system.
The Federal Reserve System is responsible for regulating monetary policy, supervising banks, and ensuring the stability of the financial system. The Federal Reserve System consists of twelve regional Federal Reserve Banks, which are located in major cities throughout the United States, and the Board of Governors, which is headquartered in Washington, D.C. The Board of Governors, which is appointed by the President of the United States and confirmed by the Senate, oversees the activities of the Federal Reserve Banks and formulates monetary policy for the nation.
The Federal Reserve System was created in response to the Panic of 1907, which was a financial crisis that led to bank failures and a severe economic downturn. The crisis was caused by a number of factors, including a speculative boom in the stock market, a string of bank failures, and a shortage of currency. The Panic of 1907 highlighted the need for a more centralized banking system that could provide liquidity to the banking system in times of crisis and prevent bank failures from spreading throughout the economy.
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Investing. once a riskier action, has become more stable and inviting since many American companies are now moving to international locations.
Answers
Answer: Time
Explanation:
It’s right I just took the test.
what was the first fortune 500 company to be run by a black female ceo?
Answers
The first Fortune 500 company to be run by a Black female CEO was Ursula Burns, who served as CEO of Xerox from 2009 to 2016.
Burns started her career as an intern at Xerox in 1980 and worked her way up the company's ranks over the years. She was named CEO in 2009, making her both the first woman and the first Black person to lead the company.
Under Burns' leadership, Xerox underwent a significant transformation, shifting its focus from copiers and printers to software and services. Burns is widely regarded as a trailblazer for women and minorities in the corporate world and has been recognized with numerous honors and awards for her achievements.
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your friend omitted the first game of the year from the sample be- cause the first game is always a sellout and because neither team had a winning percentage yet. was this a good decision?
Answers
In my opinion, your friend's decision to exclude the first game of the year from the sample was not entirely good. It might have its advantages,
A good sample must be representative of the entire population to generate accurate results. Your friend's decision to exclude the first game of the year might result in an unrepresentative sample. It means the remaining sample might not be a true representation of the whole population since it is missing a vital component that could affect the results.Therefore,
It is imperative to consider the significance of the first game of the year before omitting it from the sample. If the game's exclusion would not significantly affect the population's statistics, then it might be good to exclude it. On the other hand, if the game is essential and its exclusion might affect the statistics, then it might not be a good decision.
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Your parts supplier gives you 0.5 of a year to pay for parts ordered today. or offers you a discount if you pay cash at purchase. You have just purchased $57,700 worth of parts from your supplier and the discount is at an annual rate of 8.8%. How much will you p today? O $41,500 O$45,759 O$55,368 $50,335 O $60,905
Answers
The main answer is $50,335. To explain further, let's break down the calculation:
If you choose to pay cash at purchase, you will receive a discount at an annual rate of 8.8%. This means you will effectively pay only 91.2% of the original price.
Discounted price = Original price × (1 - Discount rate)
Discounted price = $57,700 × (1 - 0.088)
Discounted price = $57,700 × 0.912
Discounted price = $52,624
Therefore, if you choose to pay cash at purchase, you will pay $52,624 for the parts.
However, if you choose the option to pay in 0.5 of a year, you will not receive any discount, and you will have to pay the full original price. Hence, you would pay $57,700.
Therefore, the lower amount is the cash purchase price, which is $50,335.
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the project manager controls most of the project activities and functions, including the assignment and control of project resources in the:
Answers
The project manager controls most of project activities and functions, including assignment and control of project resources in strong matrix.
What is a project manager?An expert who plans, organizes, and executes projects while abiding by limitations like budgets and deadlines is known as a project manager. Project managers lead large teams, set goals, communicate with stakeholders, and see a project through to completion. Project managers are highly sought after in practically every business. Despite the fact that project management may be a challenging profession, you'll never have to face such challenges alone. Using software or online resources designed specifically to expedite the process, you'll frequently collaborate with other team members. Depending on the project or business, the specific project management software will normally be able to track time and budgets, generate plans and reports, handle billing, and share calendars between different teams.
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In 500 words, describe how your family is conserving, reusing, and recycling resources. Also describe what more your family might do to protect the environment.
Answers
Reusing by using outfits or jeans that aren’t dirty and don’t deserve to be in the washer.Conserving by going to school.What you can do is turn off other peoples lights when they forget to.
Answer:
(Answers may vary.)
My family is conserving, reusing, and recycling resources in the following manners:
We keep a compost bin outside our house. We throw fruit peels and other natural wastes in the compost bin. These wastes decompose in the bin and turn into fertilizer eventually. We then use this as fertilizer for our garden, where we grow tomatoes, corn, cucumbers, watermelon, cantaloupes, and beans.
We use bicycles to travel wherever possible to prevent environmental pollution caused by the use of gasoline. We prefer to walk short distances. Walking helps our bodies exercise and helps save fuel too. When we take trips we usually take mass transit to save on gas. Our family carpools as often as possible to save on gas.
We believe in gifting memorable experiences to friends and family members on birthdays instead of articles such as toys or gadgets. Materials such as toys may deteriorate over time with repeated use, break, and add to wastes. However, experiences such as going hiking or visiting a museum remain with you for lifetime as pleasant memories.
We turn off the lights when not required or when nobody is present in a room. In the summertime, we keep the air conditioning at 79 degrees so that it is not overused. Whenever possible, we cool the house by opening the windows. We’ve planted trees around the house so that in the future, shade will be the primary source of cooling. In the winter, we keep the house cooler and dress warmly. Sometimes we have a wood fire to keep the house warm. We also turn computers and other appliances off when not in use.
We reuse the bottles containing fruit jams as containers. Whenever possible, we make our own jams and jellies. We also use the containers to hold small items such as nails, pushpins, and paper clips. We’ve converted some of these jars into piggybanks and also use them for crafts. My mother uses them as gifts sometimes by decorating them with ribbons and pretty fabric.
In order to protect the environment, we can additionally take below steps:
Plant trees in our neighborhood. Trees provide oxygen and improve the quality of the air. When the neighborhood has lots of trees, not only is the air quality improved, it provides shade to cool the homes. That way, air conditioning is not used as often.
Use carpooling to travel long distances such as to work or the store to control the use of automobiles. Many cities encourage the use of carpooling by providing high-occupancy-vehicle (HOV) lanes.
Grow herbs and vegetables in the backyard to eat fresh and healthy food as well as save energy on transportation. Transportation of food is a major cost and can lead to environmental harm. By growing our own food, we do our part in saving on transportation pollution.
Use recyclable materials for containers. By supporting companies that use recycled materials for packaging, we use our dollar vote to support the environmental efforts of these companies.
Explanation: Edementum
Your new health insurance has a $4000 deductible. What does that mean?
Answers
Which of the following is not one of the simplifying assumptions made when applying the net present value method?a) All cash flows are immediately reinvested in another project that has a similar returnb) All cash flows can be predicted with certaintyc) All of these answer choices are correctd) All cash flows come at the end of each year
Answers
The correct answer is option b) All cash flows can be predicted with certainty.
The net present value (NPV) method is used to evaluate investments and financial projects. It calculates the present value of future cash flows at a discount rate that reflects the cost of capital. When using the NPV method, simplifying assumptions are made to simplify the calculation.
The simplifying assumptions made when applying the net present value method are that all cash flows occur at the end of each period, all cash flows are discounted at the same rate, all cash flows are expressed in terms of cash, all cash flows are relevant to the project being evaluated, all cash flows can be predicted with certainty, and all cash flows are immediately reinvested in another project that has a similar return.
These simplifying assumptions are made to simplify the calculation of the net present value of future cash flows at a discount rate that reflects the cost of capital.
Option b) All cash flows can be predicted with certainty is not one of the simplifying assumptions made when applying the net present value method. Therefore, the correct answer to the given question is option b).
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Why do some auto insurance customers want medical coverage for their
policies?
A. To help find the best hospital to care for people they injured in a
car accident
B. To keep from having to make a co-pay in case of a minor injury
after an accident
C. To avoid having to pay for hospital bills resulting from an accident
they cause
D. To prevent uninsured motorists from suing them for injuries they
cause
Answers
9514 1404 393
Answer:
C. To avoid having to pay for hospital bills resulting from an accident they cause
Explanation:
The purpose of any sort of insurance is to limit or eliminate the policy-holder's liability. Medical insurance in an auto policy pays for medical bills the policy-holder might otherwise be liable for as a consequence of an auto accident.
B. the Institute Human Resource Department, the Innovato D. the Innovator, the Innovator's work unit, and the Technology Management Office. the Institute Human Resource Department, the Innovator, and the Technology Management Office. Those individuals who covered under this Policy shall promptly report and fully disclose any innovation and/or reduction to practice of Innovations including potentially patentable Inventions and creative works on the appropriate form to the Technology Management Office. The Technology Management Office shall execute such declarations, assignments, or other documents as may be necessary in the course of evaluation or protection of Intellectual Property rights, to assure that title in such Intellectual Properties shall be held by the Institute or by such other parties designated by the Institute as may be appropriate under the circumstances. Such circumstances would include, but not be limited to, those situations when there are overriding Intellectual Property obligations of the Institute arising from gifts, grants, contracts, or other agreements with outside Institutes. A. The Technology Management Office B. The Innovator's work unit C. The Board of Directors D. The Human Resource Department shall have the express authority to take whatever steps in deems necessary in the handling, protection and marketing of all items of Intellectual Property assigned to the Institute. Exemptions from this Policy to assign may be authorized by A. the Vice Director for research B. the Director of the Institute C. the Director of the Technology Management Office D. the Vice Director for finance in those circumstances when the mission of the Institute is better served by such action, provided that overriding obligations to other parties are met and such exemptions are not inconsistent with other Institute policies. Educational Materials. A. The Technology Management Office B. The Institute C. The Innovator's work unit D. The Innovator(s) with the following exception shall hold the legal title to all Institute-sponsored Educational Materials. Materials produced under grants from the government or other agencies shall be subject to conditions of the contract or grant with respect to ownership, distribution, use and other residual rights. 5
Answers
The individuals/entities involved in the Policy for reporting and protecting intellectual property include: B. the Innovator, the Innovator's work unit, and the Technology Management Office.
According to the provided text, the Policy requires individuals covered under it to report and disclose any innovations, patentable inventions, and creative works to the Technology Management Office. The Innovator and their work unit are responsible for promptly reporting such innovations. The Technology Management Office plays a crucial role in evaluating and protecting intellectual property rights. They execute necessary declarations, assignments, or documents to ensure that the title of intellectual properties is held by the Institute or designated parties.
The Board of Directors and the Institute Human Resource Department are not explicitly mentioned in this context, and their involvement is not specified. However, the Technology Management Office, the Innovator, and the Innovator's work unit are the designated entities responsible for handling, protecting, and marketing the assigned intellectual property.
Exemptions from assigning intellectual property may be authorized by the Vice Director for research, the Director of the Institute, the Director of the Technology Management Office, or the Vice Director for finance under specific circumstances that better serve the Institute's mission while fulfilling obligations to other parties.
Regarding the ownership of Institute-sponsored Educational Materials, the legal title is held by the Institute unless specified conditions from contracts or grants with the government or other agencies dictate otherwise.
In summary, the key individuals/entities involved in the Policy for reporting and protecting intellectual property are the Innovator, the Innovator's work unit, and the Technology Management Office.
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what is the best method of dealing with an ethical decision regarding the performance of an employee?
Answers
The best method of dealing with an ethical decision regarding the performance of an employee is to follow a well-defined process that allows for a fair and objective evaluation of the situation.
Here are some steps that can be taken:
Review the relevant policies and procedures: Before taking any action, it's important to review the company's policies and procedures related to ethical behavior, performance evaluations, and disciplinary actions.
This can provide guidance on how to handle the situation in a consistent and fair manner.
Gather information: It's important to gather all the relevant information related to the ethical decision, including any documentation or witness statements.
This can help to ensure that the decision is based on facts and not assumptions or biases.
Consult with others: Seek advice and guidance from other stakeholders, such as HR personnel, managers, or legal counsel.
This can provide a different perspective on the situation and help to ensure that the decision is fair and reasonable.
Consider the impact on stakeholders: Consider how the decision will impact the employee, the team, and the company as a whole. Ensure that the decision is consistent with the company's values and goals.
Take appropriate action: Based on the information gathered and consultation with others, take appropriate action that is fair, objective, and consistent with the company's policies and procedures.
Overall, dealing with ethical decisions regarding employee performance requires a fair, objective, and well-defined process that considers all relevant information and stakeholders.
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A credit score doesn’t factor in your income or the amount of money in your bank account. Knowing that, why do you think so many people believe a credit score is a good measure of financial health?.
Answers
A credit score doesn’t factor in your income or the amount of money in your bank account. Higher the score of the credit card, The better the borrower looks to the lender.
The creditworthiness of a client is shown by their credit score. The
better a debtor seems to potential lenders, the higher their score. A credit score is based on a person's credit history, including the number of available accounts, total amount of debt, history of repayment, and other elements. Credit scores are used by lenders to determine the likelihood that a borrower would make timely loan repayments.
Your financial life might be dramatically impacted by your credit score. It is very important in determining if a lender will provide you credit.
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Trudy’s monthly expenses are outlined in the chart below. Trudy’s job pays her $36,000 annually. Determine Trudy’s DTI (debt-to-income) ratio. Trudy's Debt and Income Income: $36,000 (annually) Rent: $695 (monthly) Car Payment $265 (monthly) Student Loan $200 (monthly) Credit Cards $160 (monthly) a. 28% b. 35% c. 37% d. 44%.
Answers
Trudy's Debt-to-income ratio is 44%.
Debt-to-income ratio is an example of a debt ratio. It measures the ability of income to cover debt.
Debt-to-income ratio = debt / income
Total Debt = monthly debt x 12
Monthly debt = rent + car payment + student loan + credit cards
$695 + $265 + $200 + $160 = $1320
Total Debt = $1320 x 12 = $15,840
Debt-to-income ratio = $1320 / $36,000 = 0.44 = 44%
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blue spruce co. uses the percentage-of-receivables basis to record bad debt expense and concludes that 2% of accounts receivable will become uncollectible. accounts receivable are $402,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,723.
Answers
The final answer is that Blue Spruce Co. should record $5,413 as bad debt expense for the year, adjusting the allowance for doubtful accounts to $8,136.
To calculate the bad debt expense, first find 2% of the accounts receivable ($402,000 * 0.02), which equals $8,040. Next, compare this amount with the existing credit balance in the allowance for doubtful accounts ($2,723). The difference between these two amounts is the bad debt expense to be recorded, which is $8,040 - $2,723 = $5,317. After recording this bad debt expense, the allowance for doubtful accounts will be adjusted to $8,040, ensuring an accurate representation of the anticipated uncollectible receivables. This process follows the **percentage-of-receivables basis** method, and it helps companies like Blue Spruce Co. to estimate and manage potential losses from **accounts receivable**.
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The most dramatic increase in revenue is most likely to occur in the ____ phase of the prdouct life cycle/
Answers
The most dramatic increase in revenue is most likely to occur in the growth phase of the product life cycle. The product life cycle represents the stages a product goes through from its introduction to the market until its eventual decline. These stages typically include introduction, growth, maturity, and decline.
During the growth phase, a product experiences rapid market acceptance and an increasing customer demand. This phase is characterized by a surge in sales volume and a substantial increase in revenue. Customers become more aware of the product, and its reputation and market presence grow. As a result, the product captures a larger market share and attracts new customers.
Several factors contribute to the significant revenue growth in the growth phase. Firstly, the product's unique features and benefits may differentiate it from competitors, making it appealing to a wide range of customers. Additionally, effective marketing campaigns and positive word-of-mouth can drive increased demand and customer adoption. The company may also benefit from economies of scale, leading to improved cost efficiency and profitability.
However, it's important to note that the duration of the growth phase varies depending on the product and market dynamics. Eventually, the product reaches the maturity phase, where revenue growth stabilizes, and competition intensifies. Therefore, it is crucial for businesses to capitalize on the growth phase by leveraging their market position, investing in research and development, and exploring opportunities for expansion.
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What are liquid assets? What are non-liquid assets? What are some examples of each?
Answers
Explanation:
A liquid asset allows any individual or a company to access cash at any time they want. ex:Cash or currency, Bank accounts, Accounts receivable
Non liquid assets are assets that cannot be sold or converted into cash easily without a significant loss of investment. Some examples of such assets include houses, cars, land, televisions and jewelry.
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Accounting is the system of analyzing, classifying, recording, summarizing, and interpreting a business' __________.
Answers
Accounting is the system of analyzing, classifying, recording, summarizing, and interpreting a business financial events.
What is accounting?Accounting is a process of keeping a financial record or preparing the financial record. It includes analysis, verification, and reporting of records of the transaction.
Accounting is the activity in the financial department of a company or business that keeps the daily finance accounts.
Hence, accounting is the system of analyzing, classifying, recording, summarizing, and interpreting a business financial events.
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Over the years, Procter & Gamble has pursued programs in all of the following areas EXCEPT ................
A) strip mining in Eastern Kentucky
B) employment opportunities for women and minorities
C) environment-protection technology
D) involvement in civic activities and the political process
Answers
choice c. Procter & Gamble has established itself as a pioneer in corporate social responsibility by creating and deploying technology that safeguards the environment and encouraging staff members to take part in community activities.
The ideal social audit includes a cost breakdown for all socially responsible actions.Fast-moving consumer items are manufactured and marketed by the Procter & Gamble Company (P&G). Conditioners, shampoo, razors for men and women, toothbrushes, toothpaste, dishwashing liquids, detergents, surface cleaners, and air fresheners are among the company's offerings. P&G is organised into five sector business units, or SBUs, depending on industries: Baby, Feminine and Family Care, Beauty, Health Care, Grooming, and Fabric and Home Care. Through these SBUs, we handle our ten product categories.
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What words come to mind, both positive and negative, when you think about budgeting?
Answers
Answer:
Positive:
-Managing money
-Saves money for other things
Negative:
-May be hard to budget if you need a lot
Hope this helps! These are just what come to mind in my opinion.
Internal recruitment may be practiced in companies today. TRUE OR FALSE
Answers
There are three different types of slings. What determines which type you use? Select all that apply.
Select the 2 answer options that apply.
What’s available at your worksite
The type of load
Environmental factors
The type of crane
Answers
Answer:the type of load
environmental factors
Explanation:
Answer:
The type of load
Environmental factors
Explanation: Took the test and got it right.
Please indicate what engaging in CSR means to the company. (select all that apply) Being charitable Helping society Improving consumers' perceptions about the company Valuing society over shareholders' interests
Answers
As a question answering bot, it is essential to be factually accurate, professional, and friendly when answering questions. It is important to be concise and avoid providing extraneous amounts of detail. It is important to focus on the question and not to ignore any typos or irrelevant parts of the question. It is unnecessary to repeat the question in your answer.Please indicate what engaging in CSR means to the company. The following terms apply to engaging in CSR:Being charitableHelping societyImproving consumers' perceptions about the companyValuing society over shareholders' interestsCorporate social responsibility (CSR) refers to the company's commitment to the community and the environment, which goes beyond the business objectives and legal requirements. When a corporation engages in CSR, it has a positive impact on society and the environment. Companies engage in CSR by donating to charities, implementing environmentally friendly policies, and other similar activities. By participating in CSR activities, companies benefit society while also improving their reputation and brand image.
How does labor relate to the scarcity problem
Answers
Answer:
The scarcity of labor is having several effects on businesses. Companies are forced to raise wages to attract workers, which increases the cost of doing business. The lack of workers is also causing delays and disruptions in the supply chain.
In 2013, the Oakland A's were one of the hottest teams in baseball. They were regularly drawing "sellout" crowds, with many more fans wanting tickets. However, the A's did not sell all of the 56,000 seats. The A's removed or put tarps over roughly 20,000 seats in most of the third deck and the outfield stands. The A's management said that the reason was to create a more intimate feeling for the fans. What's another explanation? The A's removed or put tarps over roughly 20,000 seats to
Answers
Answer:
The other reason was to limit the number of special seats to charge a higher price for them.
Explanation:
Oakland A's knows that it has a large number of dedicated fans and that they are thirsty for tickets to watch the games, as these tickets are in high demand. In this case, when Oakland A's puts tarps or removes only on 20,000 seats and claims that it is to promote a more intimate experience for fans, it is because it knows that fans will want to occupy these special places, no matter what price they need to pay. In this case, we can say that a probable reason for the existence of these 20,000 unavailable seats is to increase the profit from ticket sales, by charging a higher price for the available seats.
retailers are a key component in a supply chain that links manufacturers to consumers. T/F
Answers
True. Retailers play a crucial role in the supply chain by providing a link between manufacturers and consumers. They purchase goods from manufacturers and sell them to consumers, acting as a distribution channel for the products.
Retailers are responsible for managing inventory, ensuring timely delivery, and providing customer service, which are all important factors in the overall success of the supply chain. Without retailers, manufacturers would struggle to reach consumers and the supply chain would be incomplete.
Retailers play a crucial role in the distribution of goods from manufacturers to end customers, as they often purchase products from manufacturers or wholesalers and then sell them to consumers. This process ensures that goods are efficiently distributed and readily available for customers to purchase, ultimately contributing to a smoothly functioning supply chain.
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Projected benefit obligation $2,716,000 plan assets at fair value 2,061,000 accumulated oci (psc) 1,068,000 what is the amount for pension liability?
Answers
To calculate the amount of the pension liability, we need to consider the formula: Pension Liability = Projected Benefit Obligation (PBO) - Plan Assets at Fair Value + Accumulated Other Comprehensive Income (AOCI) - Prior Service Cost (PSC).
Given the following information:
Projected Benefit Obligation (PBO) = $2,716,000
Plan Assets at Fair Value = $2,061,000
Accumulated Other Comprehensive Income (AOCI) = $1,068,000
We can substitute these values into the formula:
Pension Liability = $2,716,000 - $2,061,000 + $1,068,000 - 0 (assuming PSC is zero)
Pension Liability = $655,000 + $1,068,000
Pension Liability = $1,723,000
Therefore, the amount for the pension liability is $1,723,000.
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on february1, shirin, inc. paid $30,000 rent on their home office for the months of february, march, and april. using the following abbreviations to fill in the blanks, indicate whether this transaction would: increase (i), decrease (d), not change (nc) the total of each of the elements of the accounting equation.
Answers
The expense is equally spread over three months, the direct impact on owner's equity in the transaction is not considered. The correct option is (d), not change (nc) the total of each of the elements of the accounting equation.
On February 1, Shirin, Inc. paid $30,000 rent for their home office for February, March, and April. This transaction would affect the accounting equation elements as follows:
1. Assets (A): Decrease (D) - The cash balance will decrease by $30,000 after paying rent.
2. Liabilities (L): No Change (NC) - Paying rent doesn't affect any liabilities of the company.
3. Owner's Equity (OE): No Change (NC) - This expense reduces the company's net income, which will ultimately affect owner's equity. However, since the expense is equally spread over three months, the direct impact on owner's equity in the transaction is not considered.
Option is d : A - D; L - NC; OE - NC
The correct option is (d), not change (nc) the total of each of the elements of the accounting equation.
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