______________ and ______________ are two of the main pillars of finance. debits / credits revenues /...
______________ and ______________ are two of the main pillars of finance.
|
debits / credits |
||
|
revenues / expenses |
||
|
risk / reward |
||
|
taxes / interest |
Homework Answers
Option C is correct,
Risk/Reward
Explanation:
Risk and Reward are the main pillars of Finance as finance is about reducing unsystematic risk and investing in projects or assets with best Risk Reward Ratio.
Add Answer to:
______________ and ______________ are two of the main pillars of
finance.
debits / credits
revenues /...
In terms of debits and credits, which types of accounts will have the same (debit or...
In terms of debits and credits, which types of accounts will have the same (debit or credit) normal balance? a.Expenses, liabilities, and capital stock b.Assets, capital stock, and revenues c.Dividends, expenses, and assets d.Retained earnings, dividends, and liabilities
Record the General Fund collection ($10,805,500) In cash. bok Note: Enter debits before credits Int Transaction...
Record the General Fund collection ($10,805,500) In cash. bok Note: Enter debits before credits Int Transaction General Journal Credit ences 08 Debit 10,805,500 + 158,000 Cash Taxes Receivable (Prior year) Interest and Penalties Receivable Taxes Receivable-Current Due from State Government Revenues Control Appropriations Control 3,500 6,400,000 204,000 (8) The General Fund collected the following in cash: o prior year taxes, $158,000; o interest and penalties receivable on prior year taxes, $3,500; o current taxes, $6,400,000; • $204,000 previously recorded as...
CookBooks Inc.’s adjusted trial balance showed total debits and total credits of $10,000 each. The company’s...
CookBooks Inc.’s adjusted trial balance showed total debits and total credits of $10,000 each. The company’s revenues were $6,000, its expenses were $4,000, and it declared $500 in dividends during the year. What will the debits (and credits) equal on the post-closing trial balance?
Debits Credits > Credits by: Debits by: Cash Accounts receivable Inventory Prepaid expenses Long-term loans to...
Debits Credits > Credits by: Debits by: Cash Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings 110,000 $65,00e 8,000 30,000 80,000 220,000 5,000 32,000 9,000 16,000 170,000 50,000 $606,000 $606,000 The following additional information is available about last year's activities: a. Net income for the year was $?- b. The company sold equipment during the year for $15,000. The...
Which of the following statements is correct regarding the effect of debits and credits in accounts?...
Which of the following statements is correct regarding the effect of debits and credits in accounts? Assets are on the left side of the accounting equation, so to increase them, you would credit them. O Expenses reduce equity, so to increase an expense account you would debit it. O Owner Investments cause Owner, Capital to increase, so to increase the capital account, you would debit it. O Revenues increase equity, so to increase a revenue account, you would debit it.
The following is a partial year-end adjusted trial balance. Account Title Debits Credits Sales revenue 330,000...
The following is a partial year-end adjusted trial balance. Account Title Debits Credits Sales revenue 330,000 Loss on sale of investments 28,000 Interest revenue 5,500 Cost of goods sold 175,000 General and administrative expenses 43,000 Restructuring costs 53,000 Selling expenses 26,500 Income tax expense 0 Income tax expense has not yet been recorded. The income tax rate is 40%. a. Determine the operating income (loss). b. Determine the income (loss) before income taxes. c. Determine the net income (loss).
8. What proof of equality is prepared to determine if debits are equal to credits and...
8. What proof of equality is prepared to determine if debits are equal to credits and can ultimately be used to discover some errors: C a. Balance Sheet b. Trial Balance c. Income Statement d. Statement of Cash Flows 9. Which of the following accounts is an asset account? a. Drawing b. Accounts Payable C. Equipment d. Salaries Expense C 23524 10. Which of the following accounts is a liability account? C a. Drawing ㄷ b. Cash C c. Accounts...
Profit is measured as: Select one: O a. debits - credits. O b. income - expenses....
Profit is measured as: Select one: O a. debits - credits. O b. income - expenses. O c. assets - liabilities. O d. current assets - current liabilities.
3-20 Debits and Credits For the following transactions, indicate whether the accountant for Jacksonville Company should...
3-20 Debits and Credits For the following transactions, indicate whether the accountant for Jacksonville Company should debit or credit the account in parentheses (use dr. or cr.): 1. Jacksonville sold merchandise on credit (Accounts Receivable). 2. Jacksonville received interest on an investment (Interest Revenue). 3. Jacksonville declared dividends and paid them in cash (Retained Earnings). 4. Jacksonville paid wages to employees (Wages Expense). 5. Jacksonville sold merchandise for cash (Sales Revenue). 6. Jacksonville acquired a 4-year fire insurance policy (Prepaid...
Debits Plano Co. 12/31/2021 Partial Trial Balance Data Sales revenue Interest revenue Gain on sale of...
Debits Plano Co. 12/31/2021 Partial Trial Balance Data Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expense Interest expense General and administrative expenses Credits 700,000 60,000 110,000 3.33 points 500,000 150,000 40,000 100,000 (8 00:58:42 Plano had 50,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. Skipped Required: Prepare a single-step income statement with earnings per share disclosure. (Round EPS answer...
Record the General Fund collection ($10,805,500) In cash. bok Note: Enter debits before credits Int Transaction General Journal Credit ences 08 Debit 10,805,500 + 158,000 Cash Taxes Receivable (Prior year) Interest and Penalties Receivable Taxes Receivable-Current Due from State Government Revenues Control Appropriations Control 3,500 6,400,000 204,000 (8) The General Fund collected the following in cash: o prior year taxes, $158,000; o interest and penalties receivable on prior year taxes, $3,500; o current taxes, $6,400,000; • $204,000 previously recorded as...
Debits Credits > Credits by: Debits by: Cash Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings 110,000 $65,00e 8,000 30,000 80,000 220,000 5,000 32,000 9,000 16,000 170,000 50,000 $606,000 $606,000 The following additional information is available about last year's activities: a. Net income for the year was $?- b. The company sold equipment during the year for $15,000. The...
Which of the following statements is correct regarding the effect of debits and credits in accounts? Assets are on the left side of the accounting equation, so to increase them, you would credit them. O Expenses reduce equity, so to increase an expense account you would debit it. O Owner Investments cause Owner, Capital to increase, so to increase the capital account, you would debit it. O Revenues increase equity, so to increase a revenue account, you would debit it.
8. What proof of equality is prepared to determine if debits are equal to credits and can ultimately be used to discover some errors: C a. Balance Sheet b. Trial Balance c. Income Statement d. Statement of Cash Flows 9. Which of the following accounts is an asset account? a. Drawing b. Accounts Payable C. Equipment d. Salaries Expense C 23524 10. Which of the following accounts is a liability account? C a. Drawing ㄷ b. Cash C c. Accounts...
Profit is measured as: Select one: O a. debits - credits. O b. income - expenses. O c. assets - liabilities. O d. current assets - current liabilities.
3-20 Debits and Credits For the following transactions, indicate whether the accountant for Jacksonville Company should debit or credit the account in parentheses (use dr. or cr.): 1. Jacksonville sold merchandise on credit (Accounts Receivable). 2. Jacksonville received interest on an investment (Interest Revenue). 3. Jacksonville declared dividends and paid them in cash (Retained Earnings). 4. Jacksonville paid wages to employees (Wages Expense). 5. Jacksonville sold merchandise for cash (Sales Revenue). 6. Jacksonville acquired a 4-year fire insurance policy (Prepaid...
Debits Plano Co. 12/31/2021 Partial Trial Balance Data Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expense Interest expense General and administrative expenses Credits 700,000 60,000 110,000 3.33 points 500,000 150,000 40,000 100,000 (8 00:58:42 Plano had 50,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. Skipped Required: Prepare a single-step income statement with earnings per share disclosure. (Round EPS answer...
Most questions answered within 3 hours.
-
Suppose you just bought the new Windoze 8 and that you realize
that it really sucks....
asked 7 seconds from now -
The vapor pressure of water at 20°C is 17.54 torr. Calculate the
vapor pressure (in torr)...
asked 6 minutes ago -
Hi,
can someone please explain to me the time complexity of an
algorithm specially big O...
asked 6 minutes ago -
Python
Prompt the
user to enter a step size to step down by. Write a while
loop...
asked 5 minutes ago -
Demonstrate the power of the Containment Theory of Walter
Reckless with regard to the idea of...
asked 18 minutes ago -
Case 3: New Retail Strategy
September 2010: American retailers are cutting expenses to
maintain stable profits...
asked 28 minutes ago -
What do you expect to happen when acetylacetone reacts with a
base? Draw structures of the...
asked 27 minutes ago -
What is meant by biocultural evolution? what examples will
better describe how it might have influenced...
asked 1 hour ago -
How
do I locate proper sources that are peer reviewed articles for this
topic : placing...
asked 56 minutes ago -
A recent graduate decided to have $1 million ready for
retirement 30 years from now. The...
asked 55 minutes ago -
Schrute Farm Sales buys portable generators for $460 and sells
them for $720 He pays a...
asked 1 hour ago -
A 10,000 kg jet plane must reach a speed of 60 m / s for
takeoff....
asked 56 minutes ago