The proprietors of two businesses, L.L. Sams Company and Melinda Garcia Career Services, have sought business loans from you. To decide whether to make the loans, you have requested their balance sheet to view.
L.L. Sams Company Balance Sheet August 31, 2004
Accounts Receivable 14,000
Merchandise Inventory 85,000
Store supplies 500
Furniture and fixtures 9,000
Total assets $211,500
Accounts Payable 12,000
Note Payable 18,000
Total Liabilities 30,000
L.L. Sams, capital 181,500
Total Liabilities And owner's equity $211,500
Melinda Garcia Career Services Balance Sheet August 31, 2004
Accounts Receivable 7,000
Office supplies 1,000
Office furniture 56,000
Accounts Payable $6,000
Note Payable 168,000
Total Liabilities 174,000
Melinda Garcia, capital 70,000
Total liabilities And owner's equity $244,000
I would appreciate the positive response and answer. Please explain I would like to understand this question. Many Thanks!!
Accounting is not my area. But the answer to this problem is obvious. Melinda is already up to her eyeballs in debt; she already owes 168,000+6000 on a business with total assets of 244,000. Further, the 168K far exceeds Melinda's personally invested capital of 70,000. Compare this to Sam.
Answer this Question
1 what do different jobs in the marketing career cluster have in common? making people feel better sales of goods and services** short hours and easy working conditions dependence on technology skills 2 what college degree would a sales manager most likely
Business and Labor Unit Test 1 Which of the following are benefits enjoyed by sole proprietorships? Select the two correct answers.(1 point) easy access to credit control of decision-making******** unlimited liability low regulatory burden*************
1. Which of the following would be considered a career in science? (1 point) architect drafter geneticist***** statistician 2. To pursue a career in math, science, or engineering, which of the following subjects should you study? Select all that apply. (3
why might an individual pursue a career in the education and training career cluster
What was the main reason the lord proprietors wanted a large number of people to settle in Carolina?
1.Which of the following is the term for day-to-day and long-term tasks you are assigned to complete? A.Career Research********* B.Job Responsibilities C.Job Title D.Training Materials 2. Why is career planning important? A.You will only have one career.
Introduction to Economics Unit Test Answers 1 A small business has one team that installs new swimming pools and four employees that clean and maintain pools. Which of the following is a service that is provided by this business to its customers? Answer:
PLEASE CHECK MY ANSWERS! 1. What previous work experience would a fire inspector be expected to have? A. police officer B. security guard C. fire fighter D. chemist ** 2. Which of the following is an example of a career in public safety? A. attorney B.
1. Which of the following gives an example of a consensus? (1 point) A. The new head of a company announces that there will no longer be any opportunities for employees to get overtime pay. B.A union representing the workers in a factory threatens to
1. Why do businesses seek an equilibrium price? A. It ensures that competitors cannot offer lower prices B. It attracts the largest possible number of consumers to the business •• C. It provides the highest possible prices that consumers will pay for
Which of the following is an example of an external source? I. Memos sent to the employees of a company, 2. Financial reports published by a company, 3. Company databases, and 4. Industry journals.
How would you categorize the obligations and services of state and local governments as compared to those of the federal government? State and local governments provide, useful services, while the federal government tends to provide unnecessary services.
Introduction to Graphic Design
Hello! Thanks for checking my question out! ____ A small fashion boutique, J. Lollies, has an outdated logo and corporate identity. Its business is booming, but visually, the company seems to be lagging behind. The company's marketing materials desperately
Which of the following are the top two job expectations of people who career plan Hours** Benefits Type of work** coworkers security Which of the following is an example of a job that would supply a good that would meet a need? limo driver** actor farmer
Please check my answers please. Thank you! 1. The U.S. economy is a free enterprise system. True* False 2. Work you do for pay is called a _____. service industry diverse workforce job* volunteer job 3. When there are many people seeking the same job, this
Which were impacts of the Vietnam War on American culture? Select all that apply. A. Government regulations were placed on television broadcasting to keep images of the war from reaching the public. B. A new movement sought to restore the proper role of
5. Which of the following is a criticism of cause-related marketing? a. Cause-related marketing is more of a strategy for selling than giving. b. Cause-related marketing is placing the burden of giving on the consumer instead of the company.** c.
Melinda’s science teacher gave her an unknown substance to identify based on its properties. After a few tests, Melinda listed her observation in a chart. A) nonmetal B) metal C) metalloid Is it A?
Roger Amster teaches an English course in which 40 students are enrolled. After yesterdays class, roger questioned the 5 students who always sit in the back of the classroom. Three of the 5 said “yes” when asked if they would like a tale of two cities
Think about what career you would like to pursue in the future. Draft a central idea about the topic. Write three to five sentences that could serve as an introduction to an essay about a career you would be interested in pursuing. Include one fact, two