Homework Help Question & Answers

1.3 ______________ decreases economic benefits to the enterprise, resulting in a decrease in profit and thus...

1.3

______________ decreases economic benefits to the enterprise, resulting in a decrease in profit and thus equity.

A

Payment to settle the loan balance

B

Withdrawing cash from the bank for petty cash

C

Increasing the bank overdraft limit

D

Rent expense

0 0
Add a comment
Answer

This Homework Help Question: "1.3 ______________ decreases economic benefits to the enterprise, resulting in a decrease in profit and thus..." No answers yet.

Be the First!

Request Answer

Request answer!

We need 10 more requests to produce the answer to this homework help question. Share with your friends to get the answer faster!

0 /10 have requested the answer to this homework help question.

Request! (Login Required) Share with friends


Once 10 people have made a request, the answer to this question will be available in 1-2 days.
All students who have requested the answer will be notified once they are available.
Know the answer?
Add Answer to:
1.3 ______________ decreases economic benefits to the enterprise, resulting in a decrease in profit and thus...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coin

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
  • REQUIRED For each of the questions below write down only the letter of the most appropriate...

    REQUIRED For each of the questions below write down only the letter of the most appropriate answer e.g. 1.11 C. Note: Calculations must not be shown in your answer book. Which one of the following statements is false? The financial result of an enterprise is a measure of the profit or loss that the enterprise made over a certain period of time. Expenses decrease economic benefits to a business and thus decrease equity. Liabilities are the debts of an enterprise....

  • Answer ALL questions. WIE S (20 MARKS) QUESTION 1 MULTIPLE CHOICE REQUIRED For each of the...

    Answer ALL questions. WIE S (20 MARKS) QUESTION 1 MULTIPLE CHOICE REQUIRED For each of the questions below write down only the letter of the most appropriate answer e.g. 1.11 C. Note: Calculations must not be shown in your answer book. Which one of the following statements is false? The financial result of an enterprise is a measure of the profit or loss that the enterprise made over a certain period of time. Expenses decrease economic benefits to a business...

  • Accounting ii) QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March,...

    Accounting ii) QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March, 2020 as prepared by an Accounts Assistant indicated a net profit of GHS 148,080. Though the cash book on 31 March, 2020 showed a balance at bank to be GHS 13.460. Your attention is however drawn to the following: i) Cheques from customers totalling GHS 14,940 which were recorded in the cash book on March 25, 2020 were not credited by the bank until...

  • as soon as possible thx 0.058 Dupont Ltd uses a periodic inventory system has the following...

    as soon as possible thx 0.058 Dupont Ltd uses a periodic inventory system has the following Beginning Inventory Purchase Purchase Date July 1 10 20 Units 8,000 13,000 5,000 Unit Cost $11 12 13 if 9,000 units are on hand as at the end of July the cost of the ending inventory under First-In-First-Out (FIFO) method is Select one: a $ 100,000 b. $108,000 $113,000 d. $117.000 0.062 Montreal Furniture uses a periodic inventory system. During an accounting year many...

  • 1. Which of the following would not be classified as a current liability in the balance...

    1. Which of the following would not be classified as a current liability in the balance sheet? (a) accounts payable (b) accounts receivable (c) accruals (d) tax payable (e) bank overdraft 2. Which of the following items should be classed as capital expenditure? (a) (b) (c) (d) (e) software maintenance depreciation of equipment research expenses purchase of an automobile interest paid on a loan to purchase inventory 3. Afirm sells goods on credit. The effect will be to (a) (b)...

  • Return on assets equals: Profit margin × Inventory turnover.                      B) Gross profit ratio × Asset turnover. C) Gross profit ratio × Inventory turnover.                D) Profit margin...

    Return on assets equals: Profit margin × Inventory turnover.                      B) Gross profit ratio × Asset turnover. C) Gross profit ratio × Inventory turnover.                D) Profit margin × Asset turnover. 33.If your employer declares bankruptcy, this can have a major effect on your pension if you are in a Either plan                                                                             B) Defined Benefit Plan C) Neither Plan                                                                            D) Defined Contribution Plan 37If you put $200 into a savings account that pays annual compound interest of 8% per year and then...

  • Please explain in details. Thank you Calculate the missing cash at bank account balance from these...

    Please explain in details. Thank you Calculate the missing cash at bank account balance from these statement of financial position items. Equity $5 800; accounts receivable $890: accounts payable $450; inventory $360; loan to another business $1 400. Answers: A. $6 300 B. $4 900 C. $3 600 D. $5 400 The amount of rent expense reported on the income statement is 1 Answers: A. an increase in net income B. the amount of cash paid for rent in the...

  • TUTORIAL 3 Followings are Enterprise as at 31st December 2018. the trial balance for Cleaning A Balance (RM) Accoun...

    TUTORIAL 3 Followings are Enterprise as at 31st December 2018. the trial balance for Cleaning A Balance (RM) Accounts Capital Building 50,000 40,000 10,000 Debtors Bank loan 30,000 Cash 20,000 Supplies 21,000 Prepaid rental 18,000 Utilities 8.600 Salaries Drawings 48,000 4,500 98,000 ue Accumulated depreciation 2,000 10.000 Creditors Equipment 19,900 Additional information: . The rental is for 18 months starting from 1 January 2018 i. The utilities bil amounted to RM1,000 for December was only received on 4th January 2019...

  • 1) Using check marks, identify the financial statement(s) on which each of the following items /...

    1) Using check marks, identify the financial statement(s) on which each of the following items / accounts appear. Item Income Statement Shareholders’ Equity Balance Sheet Asset Liability Shareholder Equity Sales Revenue Unearned Revenue Notes Payable Retained Earnings Accounts Receivable Income Tax Expense Pre-paid Rent Land Cash Dividends 2)   Circle the one correct answer for each of the following two statements: At the end of Celebrity Imports’ first year of operations, assets are $750,000 and owners' equity is $680,000. a.       The...

  • Now record the single entry needed to show the decrease in cash as a result of the bank reconcili...

    now record the single entry needed to show the decrease in cash as a result of the bank reconciliation. chart of accounts y lecorO he adustment for the additions to Cash as a result of the bank reconciliation Date Accounts Debit Credit (z) Cash 1,200 Interest Revenue 1,200 Now record the single entry needed to show the decrease in Cash as a result of the bank reconciliation Date Accounts Debit Credit Choose from any list or enter any number in...

Free Homework App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.