subject
Business, 16.04.2020 04:36 Gabilop

Companies prepare balance sheets in order to know their financial position at a specific point in time. This enables them to make a comparison to their position at previous points in time and gives them a basis for planning for the future. In order to evaluate your financial position, you can prepare a personal balance sheet. Assume that you have compiled the following information regarding your finances. (Hint: Some of the items might not be used in your personal balance sheet.) Amount owed on student loan balance (long-term) $4,900 Balance in checking account 1,400 Certificate of deposit (6-month) 3,900 Annual earnings from part-time job 11,000 Automobile 7,800 Balance on automobile loan (current portion) 1,400 Balance on automobile loan (long-term portion) 3,900 Home computer 890 Amount owed to you by younger brother 330 Balance in money market account 2,000 Annual tuition 6,100 Video and stereo equipment 1,320 Balance owed on credit card (current portion) 120 Balance owed on credit card (long-term portion) 1,610 a. Prepare a personal balance sheet using the format you have learned for a classified balance sheet for a company. For the equity account, use M. Y. Own, Capital. (List Current Assets in order of liquidity.)

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 12:00
Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?
Answers: 3
question
Business, 22.06.2019 21:10
Upon completion of the northwest-corner rule, which source-destination cell is guaranteed to be occupied? a. top-leftb. the cell with the lowest shipping costc. bottom-leftd. top-righte. bottom-right
Answers: 1
question
Business, 23.06.2019 00:30
Emerson has an associate degree based on the chart below how will his employment opportunities change from 2008 to 2018
Answers: 2
question
Business, 23.06.2019 01:00
Weekly sales at nancy's restaurant total $ 84,000. labor required is 420 hours at a cost of $21,000. raw materials used amount to $40,000. what is the partial measure of productivity for labor hours?
Answers: 1
You know the right answer?
Companies prepare balance sheets in order to know their financial position at a specific point in ti...
Questions
question
Mathematics, 14.12.2020 17:20
question
Law, 14.12.2020 17:20
question
Mathematics, 14.12.2020 17:30
question
Mathematics, 14.12.2020 17:30
Questions on the website: 13722365