Podcast
Questions and Answers
What would be the impact of Tommy TUMler investing his assets as an in-kind investment on the company's balance sheet?
What would be the impact of Tommy TUMler investing his assets as an in-kind investment on the company's balance sheet?
- Debt capital would increase
- Equity would decrease
- Total liabilities would decrease
- Equity would increase (correct)
If Tommy TUMler chooses to invest his assets as an in-kind investment, what impact would it have on the total liabilities on the company's balance sheet?
If Tommy TUMler chooses to invest his assets as an in-kind investment, what impact would it have on the total liabilities on the company's balance sheet?
- Total liabilities would increase
- There would be no impact on total liabilities (correct)
- Fixed assets would decrease
- Total liabilities would decrease
How would the company's total assets be affected if Tommy TUMler makes an in-kind investment with his assets?
How would the company's total assets be affected if Tommy TUMler makes an in-kind investment with his assets?
- Total assets would remain the same
- Equity capital would decrease
- Total assets would increase (correct)
- Total assets would decrease
What is the primary impact of Tommy TUMler investing his assets as an in-kind investment on the company's balance sheet?
What is the primary impact of Tommy TUMler investing his assets as an in-kind investment on the company's balance sheet?
When was single-entry bookkeeping initiated?
When was single-entry bookkeeping initiated?
Who is considered the 'father' of double-entry bookkeeping?
Who is considered the 'father' of double-entry bookkeeping?
What does Pacioli say would indicate a mistake in the ledger?
What does Pacioli say would indicate a mistake in the ledger?
What does Pacioli declare a successful merchant needs?
What does Pacioli declare a successful merchant needs?
Which of the following best describes fixed assets?
Which of the following best describes fixed assets?
Which of the following is an example of a current asset?
Which of the following is an example of a current asset?
What is the time value of the machines and tools purchased by Tommy TUMler?
What is the time value of the machines and tools purchased by Tommy TUMler?
Which of the following would be considered a fixed asset?
Which of the following would be considered a fixed asset?
