Answered: Equity | bartleby

Name: 20)Which of the following term related to the value left over after li
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: 20)Which of the following term related to the value left over after liabilities have been removed and the portion of the company that is owned by the investors and owners of the business?a.Accrued expenseb.Account receivablec.Equityd.Account payable

Business

Accounting

Equity

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 20MC: Which of the following is a measurement of earnings that represents the profit before interest,...

See similar textbooks

Similar questions

Which of the following terms is used when assuming a business will continue to operate in the foreseeable future? A. separate entity concept B. monetary measurement concept C. going concern assumption D. time period assumption
FINANCIAL STATEMENT ACCOUNTS Label each of the following accounts as an asset (A), liability (L), owners equity (OE), revenue (R), or expense (E). Indicate the financial statement on which the account belongsincome statement (IS), statement of owners equity (SOE), or balance sheet (BS)in a format similar to the following.
A debit balance in the Retained Earnings accounts is reported as a (an) a. assetb. contra-liabilityc. liabilityd. contra-equity
Which of the following groups of accounts increase with a credit? Oa. assets, common stock, revenues Ob. common stock, revenues, expenses Oc. liabilities, common stock, revenues
39. Which refers to the remaining amount of the assets after paying all the company’s liabilities? A. revenues B. owner’s equity C. expenses D. net profits
Give typing answer with explanation and conclusion 1. ________ are items owed to a creditor. ________ are items owned by a company. ________ represents owners' claims to company resources. Expenses; Revenues; Net income Expenses; Revenues; Stockholders�� equity Liabilities; Assets; Stockholders' equity Liabilities; Assets; Net income
Identify the asset from the following list of accounts:a. Notes Payableb. Common Stockc. Retained Earningsd. Inventory
The accounting equation is expressed as ________.A. Assets + Liabilities = Owner’s EquityB. Assets – Noncurrent Assets = LiabilitiesC. Assets = Liabilities + Investments by OwnersD. Assets = Liabilities + Owner’s Equity
For each ofthe following accounts, identify whether that item is an asset, liability, or equity account.a. Bonds payableb. Equipmentc. Accounts payabled. Salaries payablee. Common stockf. Retained earningsg. Cashh. Accounts receivablei. Sales revenuej. Inventory
(24) Which account would be reported on the income statement? A. Interest Expense B. Notes Payable C. Interest Payable D. Wages Payable
Which of the following terms is used when assuming a business will continue to operate in theforeseeable future?A. separate entity conceptB. monetary measurement conceptC. going concern assumptionD. time period assumption
Owner's equity Select one: a. The resulting amount when total liabilities are subtracted from total assets b. When total liabilities are added to total assets c. None of Them d. The resulting amount when total revenue are subtracted from total cost of sales