Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help in these questions. thank you Which of the following would not represent a financing activity? Multiple Choice Borrowing money from a bank
I need help in these questions. thank you
Which of the following would not represent a financing activity? Multiple Choice Borrowing money from a bank to finance the purchase of new equipment. Paying dividends to shareholders. An investment of financial capital by the owners. Collecting cash from customers. The separate entity assumption means: Multiple Choice each seporate entity that has a claim on a company's assets must be shown in the financial statements. each separate owner's finances must be revealed in the financial statements. a company's financial statements refiect only the business activities of that company and not that of the sharehoiders each shareholders' activilies must be revealed in the finsncial statements. At the start of the first year of operations, a company's retained earnings on the Balance Sheet would be: Multiple Choice equal to shareholders' equity. equal to contributed capital. equal to zero. equal to the negative of lisbilities: If a company recelves $20,000 from a customer as settement of an account recelvable, and the company uses the money to pay $20,000 to a supplier as settiement of an account payabie then the net effect would be that Mutiple Choice assets would increase by $20,000 while liabities would deciease by $20.000 both assets and Labstes would decrease by 320.000. both assets and thareholders equity would decresse by $20.000. Inbisses would decrease by $20.000 while shareholders equity would increase by $20.000 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started