Answer:
b. Off-farm income is important to agricultural producers today.
c. Twenty percent of farmers produce 80% of the agricultural output in the food and fiber industry.
Explanation:
The food and fiber industry is divided into 4 main sectors:
suppliers of farm inputs (including services and materials)farmers themselves (producers)processing and manufacturing of farm and fiber productsmarketing and distribution (wholesalers and retailers)In the US, the food and fiber industry represents approximately 5.4% of GDP. It employs roughly around 21 million workers (including direct and indirect employment). The food and fiber industry is a net exporter, since it exports more than it imports. Currently, most farming value is concentrated on large farms, where smaller farms generally produce more livestock output while larger farms produce crops.
After WW2, there has been a tendency to substitute labor for capital, and to have more larger farms and less smaller ones.
Which of the following production functions exhibit constant returns to scale?I. Q=6−q^4II. Q=2K+LIII. Q=K^0.8 L^0.2
Answer:
Option 3
Explanation:
This is because the sum of the powers of both labour (L) and capital (K) equals 1
0.8 + 0.2 = 1
The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as
Answer: template method
Explanation:
The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as template method.
It should be noted that estimating time and cost are vital because it helps schedule work, develop needs of cash flow and show progress of a project.
The fact that one should not add or subtract money unless it occurs at the same point in time is an illustration of what concept
Answer:
B. Time value of money
Explanation:
A) Economy of scale
B) Time value of money
C) Pareto principle
D) Marginal return
Time value of money is a concept which illustrate that one should not add or subtract money unless it occurs at the same point in time.
Time value of money is also known as present discounted value. The time value of money illustrate that people will prefer to receive an amount of money today rather than receive the same amount of money at a later time (future).
This is because money tends to increase in value over a period of time though interest rate. For example, if a person receives $100 today and deposit the money in a savings account at 5% interest rate quarterly. The $100 of today will be worth more than than a $100 of next year because of the compounded interest rate.
Which one of the following statements on the remuneration of the factors of production is true?
[1] The remuneration for capital is profit, as the business aims to earn a profit on its financial investments.
[2] The remuneration for labour is rent, as workers are able to pay their rent with the money they earn.
[3] The remuneration for entrepreneurship is a salary, as entrepreneurs are also rewarded for their efforts.
[4] The remuneration for natural resources is rent, as natural resources consist of all gifts of nature.
Answer: The remuneration for natural resources is rent, as natural resources consist of all gifts of nature
Explanation:
Factors of production consists of the resources that are used to production to take place. They include land, labor, capital and the enterprise.
The remuneration for natural resources is rent, as natural resources consist of all gifts of nature.
The remuneration for labor is wages and salaries. The remuneration for capital is interest while the remuneration for entrepreneur is profit.
Responsibility for the financial statements and other information found in the annual report lies with
Answer:
Management
Explanation:
The Management of the company are appointed as stewards by the owners of the company (shareholders). They have a role in reporting the entity`s operations and ensuring that they provide a good return for the shareholders investments.
Explain the accounting function within a firm. What does this function do, and why is it important?
Answer and Explanation:
Accounting can defined as the process of keeping financial records of transactions of an organization, summarizing, analysing and reporting these financial transactions to interest entities who use these reports inaking financial decisions pertaining to the organization. In other words, the accounting function encompasses keeping accurate financial records with the aim of communicating and utilizing this financial information in making good financial decisions.
The accounting function is important because through accounting:
We are able to keep records of financial transactions on a day to day basis
We are able to know the financial position of our business and tell where something may be going wrong financially such as any fraudulent activities
We are able to make more informed decisions given the financial information at our disposal
A company's balance sheet shows: cash $39,000, accounts receivable $45,000, equipment $80,000, and equity $87,000. What is the amount of liabilities?A. $83,000.B. $251,000.C. $77,000.D. $151,000.E. $164,000.
Answer:
C. $77,000
Explanation:
Calculation for the amount of liabilities
Using this formula
Amount of liabilities=(Cash+Account receivable +Equipment) -Equity
Let plug in the formula
Amount of liabilities=($39,000+$45,000+$80,000)-$87,000
Amount of liabilities=$164,000-$87,000
Amount of liabilities=$77,000
Therefore the Amount of liabilities will be $77,000
Suppose that people’s expectations in 2013 are rational. If the Federal Reserve engages in a fourth round of quantitative easing, then the inflation rate will [Increase, Decrease, or remain the same] and the unemployment rate will [increase, decrease, or remain the same] in the short run.
These changes occur as a result of the aggregate demand curve [increasing, decreasing, or remaining the same] and the aggregate supply curve [increasing, decreasing, or remaining the same]
Answer:
If the Federal Reserve engages in a fourth round of quantitative easing, then the inflation rate will [Increase, Decrease, or remain the same] and the unemployment rate will [increase, decrease, or remain the same] in the short run.
These changes occur as a result of the aggregate demand curve [increasing, decreasing, or remaining the same] and the aggregate supply curve [increasing, decreasing, or remaining the same].
Explanation:
The Federal Reserve's fourth round of Quantitative Easing (QE) is the central bank monetary policy which enables it to buy government bonds and other assets from the open market in order to inject more money or increase the money supply in the economy, thereby expanding economic activity by encouraging lending and investments. QE can cause inflation if demand grew faster than supply as it takes longer for the velocity of money – the speed at which capital zooms through the economy and turns over – that is, to permeate the economy.
According to J.C. Penney's "Statement of Business Ethics" all of the following are acceptable except:
A(n) ____ is a document used to solicit proposals from prospective suppliers.
a. RFQ
b. RFP
c. COW
d. SOW
Answer:
Request for proposal (RFP)
Explanation:
Request for proposal is a document released by a business that seeks proposals from suppliers. Usually suppliers are selected through a bid process.
Suppliers are required to procure a commodity, service, or an asset.
RFP is submitted early in the project cycle as it is important on getting a lot of materials for the project.
RFP is usually used when there is need for specialised skill or when the commodity is difficult to obtain
Answer:
b. RFP
Explanation:
Request for proposal (RFP) as the name suggest, is a document usually posted by organizations like government agencies or enterprises to get proposal requests from would be vendors. The request for proposal contains details about a project; solutions a customer wants and also spell out criteria upon which a supplier's bid/proposal would be assessed.
The document is used to compare responses from vendors objectively hence determines which supplier might be best qualified to handle a project.
Which of the following is included in the seven common questions asked to determine if there is 'just cause' for termination:
1. How much money is the employee paid?
2. Is there any evidence of quilt, even if the evidence is very small and inadmissible in Court?
3. Was the employee for-warned about the consequences of his/her actions?
4. How long was the employee employed with the employer?
5. Was the employee originally hired as an 'at will' employee?
Answer:
3. Was the employee for-warned about the consequences of his/her actions?
2. Is there any evidence of quilt, even if the evidence is very small and inadmissible in Court?
Explanation:
The above questions are used to determine if there is a 'just cause' for the termination of the contract of an employee by his or her employer.
Nonprobability sampling is an objective procedure in which the probability of selection for the population units can be determined.
A. True
B. False
Answer:
False
Explanation:
Nonprobability sampling is a type of sampling where there is zero chance of selection in the population unit. In this type of sampling, the probability of selection cannot be accurately determined.
In nonprobability sampling, the use of quota or convenience can be used as non-random criteria for unit selection.
Probability sampling involves random selection while nonprobability sampling does not involve random selection.
One common feature of agile projects is the "walk-around meeting".
A. True
B. False
Answer:
A
Explanation:
Agile means able to move around quickly
The "walk-around meeting" is a regular characteristic in agile projects, and this is accurate.
What is a characteristic?The distinctive qualities or traits of anything are its characteristics. Consider traits as the attributes that set one object or a person apart from another. One trait of the chameleon, for instance, is its capacity for camouflage.
Agile lets teams offer value to their clients more quickly and with fewer difficulties through an iterative approach to project management and software development. An agile team produces work in manageable, small-scale increments rather than staking all on a "big bang" launch.
Therefore, The "walk-around meeting" is a regular characteristic in agile projects, and this is accurate.
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Jobs grouped according to traditional business tasks such as marketing, manufacturing, and personnel are departmentalized by
Answer:
business function.
Explanation:
A business function is a term that describes a form of business activities or jobs division or grouping, which is solely and distinctly based or departmentalized according to traditional business tasks such as marketing, manufacturing, and human resources.
Therefore, going by the definition above, the correct answer to the question above is simply BUSINESS FUNCTION
Under Regulation Crowdfunding:
I The maximum investment amount is $100,000.
II The maximum investment amount is $500,000.
III The maximum offering amount is $1,000,000.
IV The maximum offering amount is $5,000,000.
A. I and III.
B. I and IV.
C. II and III.
D. II and IV.
Answer: A. . I and III.
Explanation:
In Regulation Crowdfunding, eligible companies are allowed to offer and sell their securities by using crowdfunding. This is done by placing all the transactions online.
Under Regulation Crowdfunding:
I The maximum investment amount is $100,000.
III The maximum offering amount is $1,000,000.
If the midwest experiences a severe drought that damages the corn crops, we should expect the:_________.
A) Supply of corn will increase and the price of corn will fall
B) Supply of corn will decrease and the price of corn will rise
C) Demand curve for corn will decrease and the price of corn will fall
D) Demand curve for corn will increase and the price of corn will rise
Answer:
B) The Supply of corn will decrease and the price of corn will rise.
Explanation:
Option B is correct because the drought has damaged the corn crops. Therefore, this will affect the supply of corn in the market. Moreover, the damage of corn crops will shift the supply curve leftwards and this shift in the supply curve will push the prices upwards. Thus, the damage of corn crops will increase the prices due to a decrease in its supply.
Answer:
Its B
Explanation:
Connie works in the Human Resource department of a company and is
head of payroll. She needs some extra money and so she creates bank accounts in the name of employees who get fired or who leave the companyvoluntarily. Then she has those people stay on the payroll in order to have fraudulent payroll checks or bank transfers made to these people, but the checks or the transfer (direct deposit) goes to those bank accounts that Connie created in those names at the banks where she set them up (and she has her name on those account also - so she has access to the money). Unfortunately for the company this goes on for 5 years before the scheme is uncovered and Connie is caught.
Describe:
What type of fraud is this known as?
What do we call the employees that Connie was paying to accounts she controlled?
The fact that this took 5 years to catch indicates what?
Speculate as to what the company failed to do, in general.
Answer:
Explanation:
A This scenario describes a payroll fraud ; This is a form of fraud where an employee or an employer manipulates the payroll system in order to fraudulently receive an un earned wages.
B The employees that Connie was paying to their account that she controls are called Ghost employees. These are fictitious person put on a payroll for fraud purposes.
C The fact that it took the company 5 years to discover the fraudulent practice indicates a weak internal control environment
D
Some of the actions that the company failed to do are No proper authorization in place before employees are added to payrollNo segregation of duties as Connies appears to have been the person that add employees to payroll , approve and also disburse salaryThere has been no headcount of employees for a long timeThe entire payroll system has not been audited and reviewed for a long timeWhat are unit-level, batch-level, product-level, customer-level, and organization-sustaining activities?
Answer with Explanation:
Unit-level Activities includes the activities that are performed on production of every single unit. These includes the material cost, labor cost, etc. These unit level activities are largely used by companies like real estate companies who produce products in units because of orders they receives are in units.
Batch-level activities are the activities that are involved in performing of activities that is inter-related with production of batch irrespective of individual unit. The examples include the machine setup cost, batch delivery cost, batch inspection cost, etc. These batch level activities are used by Fast Moving Consumer Goods companies like Procter and Gamble, Nestle, Coke, Philips and Morris, etc.
The Product-level activities are the activities that are related to an individual product. These activities are largely used for differentiated products like Bugatti, Royal Royce, Ferrari, etc. These Product-level activities include all the activities which are concerned with making and designing of a product irrespective of batch and number of units produced.
Customer level activity are the activities that are related to an individual customer and are not concerned with the product offerings. Examples of these customer-level activities include IT support, Audit of companies, Consulting fees, sales calls, etc. Customer level activities are largely used by service companies like audit firms, IT firms, etc.
Organization-sustaining activities are the activities that are under taken to maintain the operations of the company for foreseeable future. The activities are based on ensuring continuity of future operations. These Organization-sustaining activities includes activities like insurance of building and produciton house, Preparing annual financial statements, fees related to accounting software, etc. Every company uses these organization sustaining activities.
During its first year of operations, Maria Rose invested $25,000 in Roseland Inc. in exchange for its common stock. The company earned $68,000 of revenues and incurred $32,000 of expenses. A cash dividend of $5,000 was paid to Maria. At the end of the year, the company owed $24,000 to its creditors. At the end of the year, the company's assets totaled:
Answer:
$80,000
Explanation:
During the first year of oeration Maria Rose invested $25,000 in Roseland incorporation
The company earned $68,000 in revenue
They incurred expenses of $32,000
A cash dividend of $5,000 was paid out to Maria
The company owed $24,00£ to its creditors
Assets = liabilities - equity
The first step is to calculate the equity
Equity= common stock - dividend + revenue-expenses incurred
= $25,000-$5,000+$68,000-$32,000
= $20,000+$36,000
= $56,000
Therefore the company's assets can be calculated as follows
= $24,000 + $56,000
= $80,000
Hence the total company's assets is $80,000
ABC Production ABC Production, a consumer products firm with a functional structure, is expanding from a single product line into several diverse product groups, with most sales within one country. What form of departmentalization should it eventually adopt to manage the new conditions most effectively
Answer:
Divisional product structure
Explanation:
Divisional product structure is also referred to as a product based structure. Employee are shared into divisions based on products they manufacture and sell within a particular geographic location.
The advantage of this structure is that employees work efficiently on the production and sale of one particular product.
This is ideal for ABC production that are expanding from a single product line into several diverse product groups, with most sales within one country.
Movie stars such as Salma Hayeck, Samuel L. Jackson, Dwayne Johnson, and Jennifer Lawrence are paid millions of dollars per movie, which can take as much as 6 months of full-time work for an actor. By contrast, doctors and nurses earn considerably less over the same time period. Why might this be? While the supply of (major film stars OR doctors and nurses) is small and relatively fixed in the short run, the demand for (the average doctor or nurse OR movies featuring these film stars) is quite large globally. By contrast, the marginal benefit of the services provided by (major film stars OR doctors and nurses) is relatively low, although the total benefit is quite high. This illustrates the diamond-water paradox. True or False
Answer:
False
The diamond-water paradox is illustrated by stating that the marginal benefit of the services provided by doctors and nurses is relatively lower than the marginal benefit of the services provided by major film stars. This implies that the supply of doctors and nurses is larger than the demand while the demand for major film stars is larger than the supply.
Explanation:
The marginal utility derived by film consumers from major film stars is higher than the marginal utility derived by patients from doctors and nurses. This is because consumers of the services of major film stars are willing to pay more for the services than consumers of the services of doctors and nurses. Though health is more crucial to life than films, but consumers place more utility value on films than they do on their health, especially after attaining the basic sound health. This actually explains the diamond water paradox, where consumers value diamond and are willing to pay more for diamond than they are willing to pay for life-sustaining water. In a layman's language, people are more willing to value the satisfaction they derive from one more additional film than they are to value the satisfaction they derive from additional healthcare. That means that people only care for the basic in healthcare. But, they can stake more to acquire more diamond.
A ______ policy focuses on the unintentional or purposeful release of information from a corporation without authorization.
Answer:
Data Loss Prevention (DLP)
Explanation:
Data Loss Prevention or DLP is the set of processes that aims to protect an organisation's information and prevents end users from transferring key information outside the network.
DLP also allows a system administrator monitor information that shared by employees.
When an employee transfers unauthorised information from the network DLP detects it and relevant action can be taken against the employee.
Causes of data loss are carelessness, misuse, and theft.
Use the information below to answer the following questions about the Canary Cruises Corporation. The Canary Cruises Corporation Income Statement Accounts for the year ending December 31, 2017 Account Balance Cost of goods sold $345,000 Interest expense $79,000 Taxes $57,100 Revenue $836,000 Selling, general, and administrative expenses $93,000 Depreciation $126,000 Refer to the Canary Cruises Corporation Income Statement Accounts. What is the net income for the Canary Cruises Corporation for 2017
Answer:
$135,900
Explanation:
The net income is computed as follows;
Revenue - Costs of goods sold - Selling and general expenses - depreciation - interest expense - taxes
Net income = $836,000 - $345,000 - $93,000 - $126,000 - $79,000 - $57,100
= $135,900
Answer:
Net income = $135,900
Explanation:
Canary Cruises Corporation
Income Statement
For the year ended December 31, 2017
Revenue $836,000
Cost of goods sold ($345,000)
Gross profit = $491,000
S&A expenses ($93,000)
Depreciation ($126,000)
EBIT = $272,000
Interest expense ($79,000)
Net income before taxes = $193,000
Taxes ($57,100)
Net income = $135,900
Do you think that MTV's future lies mostly in its international operations?
Answer:
Yes.
I think that "MTV's future lies mostly in its international operations." This is where the market is for cable TV. The domestic market is already saturated. For an organization of its kind, the best it can do is to expand beyond the domestic market, which it has already done. For example, its African channel is booming. It is also a way to project American culture to the world to help create cross-cultural understanding, while also importing some outside culture to the US in a globalized world.
Explanation:
As a giant American multinational cable channel, MTV focuses on original reality programming which targets teenagers and young adults. This defines its vision and mission. This implies that the company has already identified its purpose. There are teenagers and young adults over the world. This is why its outreach should not be restricted to the domestic US market alone.
Yes, I believe MTV's future lies mostly in its international operations. This is because the domestic market is almost saturated.
MTV, which is one of the foremost music television channels, can expand and grow its marketing operations by establishing and drawing international markets.
This is because making their output and contents align with the international markets such as Europe, Africa, Asia, and Latin America would generate more income.
Not only that, most international markets like Africa and Asia are still developing in terms of music and exposure to American content. Thus MTV has more space to develop.
Again, MTV can promote and develop the other continents' arts and culture in the American markets.
Hence, in this case, it is concluded that MTV's future lies mostly in its international operations.
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The following information is available for Bandera Manufacturing Company for the month ending January 31:
Cost of goods manufactured $131,860
Selling expenses 44,050
Administrative expenses 23,290
Sales 280,560
Finished goods inventory, January 1 31,700
Finished goods inventory, January 31 28,900
For the month ended January 31, determine Bandera's
(a) cost of goods sold,
(b) gross profit, and
(c) net income
(a) Bandera Manufacturing Company Cost of Goods Sold January 31
(b) Bandera Manufacturing Company Gross Profit January 31
(c) Bandera Manufacturing Company Net Income January 31
Operating expenses:
Total operating expenses
The following events took place for Digital Vibe Manufacturing Company during January, the first month of its operations as a producer of digital video monitors:
a. Purchased $48,300 of materials
b. Used $37,200 of direct materials production.
c. Incurred $55,500 of direct labor wages.
d. Incurred $78,200 of factory overhead. process to finished goods.
e. Transferred $129,900 of work
f. Sold goods for $232,300.
g. Sold goods with a cost of $103,400.
h. Incurred $59,400 of selling expenses .
Incurred $26,100 of administrative expense.
Using the information given, complete the following:
a. Prepare the January income statement for Digital Vibe Manufacturing Company. Digital Vibe Manufacturing Company Income Statement For the Month Ended January 31 Operating expenses: Total operating expenses
b. Determine the Materials Inventory, Work in Process Inventory, and Finished Goods Inventory balances at the end of the first month of operations. Digital Vibe Manufacturing Company Inventory Balances For the Month Ended January 31 Inventory balances on January 31: Materials Work in process Finished goods
Answer:
Bandera Manufacturing Company
a) Cost of goods sold:
Finished goods inventory, January 1 31,700
Cost of goods manufacturing 131,860
Finished goods inventory, January 31 28,900
Cost of goods sold $134,660
b) Gross profit
Sales $280,560
Cost of goods sold 134,660
Gross profit $145,900
c) Net Income
Gross profit $145,900
Selling expenses 44,050
Administrative expenses 23,290
Net Income $78,560
Digital Vibe Manufacturing Company
Digital Vibe Manufacturing Company:
Sales Revenue $232,300
Cost of goods sold 103,400
Gross profit 128,900
Selling expenses 59,400
Administrative exp. 26,100
Net Income $43,400
a. Income Statement for the month ended January 31:
Operating expenses:
Selling expenses 59,400
Administrative exp. 26,100
Total operating expenses 85,500
b. Digital Vibe Manufacturing Company
Inventory Balances For the Month Ended January 31
Inventory balances on January 31:
Raw materials 11,100
Work in process 41,000
Finished goods 26,500
Explanation:
a) Data and Calculations:
Digital Vibe Manufacturing Company
Purchases $48,300
less Inventory 11,100
Cost of materials used 37,200
Direct labor 55,500
Factory overhead 78,200
Cost of manuf. 170,900
Transferred to
finished goods 129,900
WIP inventory 41,000
Transferred to
finished goods 129,900
Cost of goods sold 103,400
Inventory of finished 26,500
Selling expenses 59,400
Administrative exp. 26,100
What monthly rate of interest will yield an annual effective rate of interest of 14%?
Answer: 1.1%
Explanation:
The effective annual interest rate is simply defined as the real return that is given on a savings account or any other form of investment that is interest paying which takes into consideration the effects of time compounding.
Based on the scenario in the question, the monthly rate of interest will yield an annual effective rate of interest of 14% will be:
= [(1.14)^1/12] - 1
= 1.01098 - 1
= 0.01098
= 1.1% approximately
Explain how aggregate demand changes when the government increases taxes by $100 billion. Aggregate demand ______.
Answer: D. decreases by less than $100 billion because the tax multiplier is negative
Explanation:
If the Government were to increase taxes then it would reduce the amount of money for spending (disposable income) that people have to be able to buy goods and services.
As a result they will buy less goods and services but this would be less than the $100 billion tax imposed on them because the effect of the tax multiplier is negative.
Tax Multiplier = -Marginal Propensity to Consume / (1 - MPC)
Simplex Company has the following estimated costs for next year:Direct Materials $15,000Direct Labor $55,000Sales Commissions $75,000Salary of Production Manager $35,000Indirect Materials $5,000Advertising Expense $11,000Rent on Factory Equipment $16,000Simplex estimates that 10,000 direct labor and 16,000 machine-hours will be worked during the year. If overhead is applied on the basis of machine-hours, the overhead rate per hour will be:
Answer:
$3.5 per machine hour.
Explanation:
Per the above, we will need to calculate first Estimated manufacturing overhead , which is given as;
Estimated manufacturing overhead = Salary of production supervisor + Indirect materials + Rent on factory equipment
= $35,000 + $5,000 + $16,000
= $56,000
Predetermined overhead rate
= Estimated manufacturing overhead / Estimated machine hours
= $56,000 / 16,000 hours
= $3.50 per machine hour
If the marginal propensity to consume is equal to 0.85, then a $500 increase in disposable income leads to a:
The question is incomplete. The complete question is stated below.
If the marginal propensity to consume is equal to 0.85, then a $500 increase in disposable income leads to a:
a. $400 increase in consumption spending
b. $75 increase in consumption spending
c. $425 increase in personal saving
d. $75 increase in personal saving
Answer:
If a $500 increase causes an increase of $425 in consumer spending, the rest of $75 is the increase in personal saving. Thus, option D is the correct answer.
Explanation:
The marginal propensity to consume or MPC is the percentage of the additional income that will be used for consumption spending. It is a concept that is used to calculate how much of an increase in income will be used in consumption and saving. The formula to calculate MPC is,
MPC = Change in consumer spending / Change in income
0.85 = Change in consumer spending / 500
500 * 0.85 = Change in consumer spending
Change in consumer spending = $425
If a $500 increase causes an increase of $425 in consumer spending, the rest of $75 is the increase in personal saving.
Consider the following transactions for Thomas Company and their effect on the accounting equation. Click on each transaction for transaction details. Determine the new balance for each component of the accounting equation resulting from the transaction. (You will not need to enter the amount of each transaction, only the balance after the transaction.) If an amount box does not require an entry, leave it blank.
Transaction
Assets =
Liabilities +
Stockholders' Equity
Beginning $0 $0 $0
1. Investment in the business
2. Borrow cash
3. Purchase equipment
4. Revenues earned
5. Expenses incurred
6. Dividends
Answer:
the numbers are missing, so I looked for a similar question:
Investment in the business $17,010 Borrow cash $7,620 Purchase equipment $8,300 Revenues earned $298,600 Expenses incurred $210,900 Dividends $15,000since there is not enough room here, I used an excel spreadsheet. I assumed all sales were on cash and all expenses were also paid using cash.
Answer:so here is it explained fully.
|Assests=||Liabilities +||StockH.Eq.|
Investment n Bus.: |$17160=||$0.00+||$17,160||
Borrow Cash: |$24,900=||$7,740+||$17,160||
Purchase Equipment:|$24,900=||$7,740+||$17,160||
Revenues Earned: |$323,300=||$7,740+||$315,560||
Expenses Incurred:|$111,600=||$7,740+||$103,860||
Dividends:|$96,200=||$7,740+||$88,460||
Explanation:image explains how I got those numbers and shows that I have the correct on my worksheet.
You are basically subtracting and adding the transaction from either the assets or stockholders’ equity. !THESE ANSWERS ARE CORRECT FOR ONLY CERTAIN NUMBERS GIVEN TO YOUR SPECIFIC TRANSACTIONS!
check image below if you have different number on your work sheet to figure out how to get the correct answer with the numbers you received on your work sheet.