Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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equity in the business must have:??
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- Please need answer the accounting questionarrow_forwardAssuming a business entity has a total asset of 25,000,000 its total liabilities is 1/3 of the said amount. How much is the equity? 16,000,000,00 16,666,666.67 13,333,333.33 13,000,000.00arrow_forwardAccounts payable increase by $500; revenues increase by $500. a. If the assets of a company increase by $100,000 during the year and its liabilities increase by $35,000 during the same year, then the change in equity of the company during the year must have been a(n): b. Increase of $135,000. c. Decrease of $135,000. d. Decrease of $65,000. e. Increase of $65,000.arrow_forward
- A company with $70,000 in current assets and $50,000 in current liabilities pays a $1,000 current liability. As a result of this transaction, the current ratio and working capital will a. increase and remain the same, respectively b. remain the same and decrease, respectively c. both decrease d. both increasearrow_forwardThe balance sheet of ATLF, Inc. reports total assets of $950,000 and $1,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $100,000 and $800,000, respectively. What is ATLF's profit margin? Select one: a. 8% b. 15% c. 10% d. 80% e. 12.5%arrow_forwardAmir Company’s net income and net sales are $18,000 and $1,100,000, respectively,and average total assets are $100,000. What is Amir’s return on assets?a. 20.0%b. 18.0%c. 3.7%d. 7.0%arrow_forward
- Please provide answer the following requirements on this accounting questionarrow_forwardThe balance sheet of ATLF, Inc. reports total assets of $1,950,000 and $2,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $150,000 and $1,000,000, respectively. What is ATLF's profit margin? Select one: a. 10% Ob. 8% O c. 7.5% O d. 15% e. 12%arrow_forwardIf a company has an increase in total revenues of $10,000, which of the following is possible? a. Total assets increase by $10,000.b. Total liabilities increase by $10,000.c. Total stockholders’ equity decreases by $10,000.d. Either b. or c. is correct.arrow_forward
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