phmd49p7p4i3 phmd49p7p4i3

24-04-2018
Mathematics

contestada

Sergei has $23 000 in assets and $13 200 in liabilities. If Sergei used $3000 of his cash to pay off his bank loan, how would that impact his owner's equity? Use the balance sheet equation to illustrate your answer.

Respuesta :

04-05-2018

Balance sheet equation states:

Assets (A) = Liabilities (L) + Owners equity (E)

Before paying the loan,
E = 23000-13200 = $9,800

After paying the loan in cash,
E= 23000-13200-3000 = $6,800

Therefore, paying own's loan reduces owners equity by $3,000.

Answer Link

Otras preguntas

Find the Nonpermissible replacement for y in this expression y-7/y+9

Select the correct answer. In this excerpt from "A Modest Proposal" by Jonathan Swift, which important issue does the writer deal with using a satirical tone? S

You booked your airplane ticket and are ready to go on vacation. What is the first thing you will need to do on the day of your flight? Buscar la puerta de emba

The balance sheet of Sand Sportswear reports total equity of $500,000 and $650,000 at the beginning and end of the year, respectively. The return on equity for

Outline the steps that you would take to ensure a successful conversion from the existing call center system to the new EHR-compatible system. Defend your respo

What are the coordinates of the image of the point (2, –6) under a dilation with a center of (0, 0) and a scale factor of 1/2 ? A. (0, 0) B. (1, –3) C. (2, –6)

Alfonzo's Italian House has 17,000 shares of stock outstanding with a par value of $1 per share and a market price of $24.60 a share. The firm just announced a

10. In advertising, the phrase "ad speak" refers to O A. claims. B. rhetoric. C. logic. O D. exaggeration.

What is true about the number 3.872? Check all that apply. The 8 is in the tens place. The 7 is in the hundredths place. The 3 is in the ones place. This number

Which ordered pair is the solution to the system of equations? {x+2y=−8y=12x−2