Business, 06.12.2020 20:20 Luzperez09
On December 31, 2013, Elite Inc. has the following ledger balances:
cash: $5,000, accounts receivable: $25,000, stock: $10,000, bank balance: $15,000, wages payable: $10,000, salaries: $20,000, bank loan: $40,000, equity capital: $150,000, interest, payable: $5,000, building: $100,000, machinery: $80,000, purchases: $20,000, and sales: $70,000.
If the business prepares a trial balance, what is the amount at which it shows a balance of debits and credits?
Answers: 1
Business, 22.06.2019 09:50
phillips, inc. had the following financial data for the year ended december 31, 2019. cash $ 41,000 cash equivalents 75,000 long term investments 59,000 total current liabilities 149,000 what is the cash ratio as of december 31, 2019, for phillips, inc.? (round your answer to two decimal places.)
Answers: 3
Business, 22.06.2019 10:10
At the end of year 2, retained earnings for the baker company was $3,550. revenue earned by the company in year 2 was $3,800, expenses paid during the period were $2,000, and dividends paid during the period were $1,400. based on this information alone, retained earnings at the beginning of year 2 was:
Answers: 1
Business, 22.06.2019 11:00
Specialization—the division of labor—enhances productivity and efficiency by a) allowing workers to take advantage of existing differences in their abilities and skills. b) avoiding the time loss involved in shifting from one production task to another. c) allowing workers to develop skills by working on one, or a limited number, of tasks. d)all of the means identified in the other answers.
Answers: 2
On December 31, 2013, Elite Inc. has the following ledger balances:
cash: $5,000, accounts receivab...
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