The owner’s stake in the company is defined as:
8. Question 8 The owner’s stake in the company is defined as: 1 / 1 point Assets Liabilities Equity Correct Correct. Equity represents the owner’s stake in the company.
What the company owes to others is defined as:
7. Question 7 What the company owes to others is defined as: 1 / 1 point Assets Liabilities Equity Correct Correct! Liabilities are what a company owes to others.
What the company owns or controls and expects to gain value from is defined as:
6. Question 6 What the company owns or controls and expects to gain value from is defined as: 1 / 1 point An Asset A Liability Equity Correct Correct! Assets are…
The accounting equation can be defined as:
5. Question 5 The accounting equation can be defined as: 1 / 1 point Assets = Liability + Equity Revenue – Expenses = Income Assets = Liability / Equity Correct Correct!…
Maria Garcia owns a software consulting firm. At the beginning of 2019, her firm had assets of $800,000 and liabilities of $185,000. Assuming that assets decreased by $52,000 and liabilities increased by $24,000 during 2020, use the accounting equation to calculate equity at the end of 2020.
4. Question 4 Maria Garcia owns a software consulting firm. At the beginning of 2019, her firm had assets of $800,000 and liabilities of $185,000. Assuming that assets decreased by…
Mike Anderson is the owner and operator of Anderson Consulting. At the end of 2019, the company’s assets totaled $500,000 and its liabilities totaled $175,000. Assuming that over the 2020 fiscal year,
3. Question 3 Mike Anderson is the owner and operator of Anderson Consulting. At the end of 2019, the company’s assets totaled $500,000 and its liabilities totaled $175,000. Assuming that…
Mary Smith is the owner and operator of Smith Construction. At the end of the company’s accounting period, December 31, 2020, Smith Construction has assets totaling $760,000 and liabilities totaling $240,000.
2. Question 2 Mary Smith is the owner and operator of Smith Construction. At the end of the company’s accounting period, December 31, 2020, Smith Construction has assets totaling $760,000…
What tasks would a bookkeeper do?
1. Question 1 What tasks would a bookkeeper do? 1 / 1 point Manage accounts receivable/payable, recording financial transactions, and implement HR policies Handle bank feeds and reconciles bank accounts, managing accounts…
