Question and answer
The balance sheets rorts information on the firms assets, debt, and equity. whats included on these reported categories?
Question
Asked 3/24/2013 9:15:20 PM
Updated 92 days ago|11/30/2023 6:03:05 AM
2 Answers/Comments
This conversation has been flagged as incorrect.
f
Get an answer
Original conversation
User: explain the purpose of the income statement and balance sheets?

User: what determines a company's profitability?

User: The balance sheets rorts information on the firms assets, debt, and equity. whats included on these reported categories?

Weegy: The balance sheet, along with the income and cash flow statements, is an important tool for investors to gain insight into a company and its operations. [ The balance sheet is a snapshot at a single point in time of the company's accounts - covering its assets, liabilities and shareholders' equity. The purpose of the balance sheet is to give users an idea of the company's financial position along with displaying what the company owns and owes. It is important that all investors know how to use, analyze and read this document. A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. These three balance sheet segments give investors an idea as to what the company owns and owes, as well as the amount invested by the shareholders. The balance sheet must follow the following formula: Assets = Liabilities + Shareholders' Equity ]
Expert answered|arwen|Points 60|

Question
Asked 3/24/2013 9:15:20 PM
Updated 92 days ago|11/30/2023 6:03:05 AM
2 Answers/Comments
This conversation has been flagged as incorrect.
New answers
Rating
3
The income statement provides a snapshot of a company's profitability over a specific period, while the balance sheet presents its financial position at a given point in time, offering valuable insights into the financial health and performance of the business.

Added 92 days ago|11/30/2023 5:57:11 AM
This answer has been confirmed as correct and helpful.
3
A company's profitability is determined by the relationship between its total revenue and total expenses, reflecting the efficiency and effectiveness of its operations.

Added 92 days ago|11/30/2023 5:58:39 AM
This answer has been confirmed as correct and helpful.
3
1. Assets: Assets on a balance sheet include current assets (such as cash, accounts receivable, and inventory) and non-current assets (like property, plant, equipment, and intangible assets).
2. Debt: Debt is categorized as liabilities on the balance sheet and includes current liabilities (short-term obligations like accounts payable) and long-term liabilities (such as bonds or loans).
3. Equity: Equity represents the ownership interest and includes common stock, retained earnings, and additional paid-in capital.

Added 92 days ago|11/30/2023 6:02:56 AM
This answer has been confirmed as correct and helpful.
Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
An income statement is not a measure of cash flows because it is calculated on a _______ rather than a _______ basis. Answer a. annual; cash b. cash; accrual c. accrual; cash d. annual; accrual
Weegy: An Income Statement is not a measure of cash flows because it is calculated on an accrual rather than a cash bases. C. accrual; cash. (More)
Question
Expert Answered
Asked 3/24/2013 5:03:49 PM
0 Answers/Comments
The cash flow statement measures cash flows on Answer a. a normalized basis. b. an accrual basis. c. a cash-basis. d. an annual basis.
Weegy: The cash flow statement measures cash flows on a cash basis. (More)
Question
Expert Answered
Updated 5/8/2018 9:31:50 AM
0 Answers/Comments
The greater a firm’s sales, the greater need for financing because of greater _____ requirements. Answer a. operational b. asset c. employee d. marketing
Weegy: The greater a firm’s sales, the greater need for financing because of greater operational requirements. dictionary.reference.com/browse/operational+requirements (More)
Question
Expert Answered
Updated 237 days ago|7/8/2023 11:31:45 AM
0 Answers/Comments
How many scenarios should be prepared when preparing financial forecasting and budgeting? Answer a. 1 b. 2 c. 3 d. The number depends on the business.
Weegy: How many scenarios should be prepared when preparing financial forecasting and budgeting? The number depends on the business. (More)
Question
Expert Answered
Asked 3/24/2013 6:12:01 PM
0 Answers/Comments
A source of short-term funds for many small companies with inventories is Answer a. trade credit. b. mortgages. c. asset-based notes. d. long-term bank loans.
Question
Not Answered
Updated 2/2/2016 5:14:32 PM
1 Answer/Comment
A source of short-term funds for many small companies with inventories is trade credit.
Added 2/2/2016 5:14:32 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [2/2/2016 5:20:00 PM]
38,920,913
questions answered
GET
Answers.
GET THE APP.
weegy*
*
Get answers from Weegy and a team of really smart live experts.
Popular Conversations
Who was a political organizer that led the independence movement in ...
Weegy: Samuel Adams was a political organizer who the led the independence movement in Boston. User: What was the ...
2/24/2024 1:45:58 AM| 15 Answers
During the Civil War Southern leaders hoped that
Weegy: During the civil war southern leaders hoped that European countries would give their support. User: What ...
2/24/2024 2:15:42 AM| 6 Answers
whats the role of the suns gravity in the solar system
Weegy: 1 + 1 = 2 User: what does einstein's theory of relativity explain Weegy: Einstein's theory of relativity ...
2/24/2024 9:17:58 PM| 6 Answers
How did Ralph Waldo Emerson impact American society?
Weegy: Ralph Waldo Emerson impacted American society by: He led the transcendentalist movement. User: Who invented ...
2/24/2024 1:54:52 AM| 5 Answers
whats was a characteristic of yellow river
2/27/2024 12:15:36 PM| 4 Answers
Spanish explorers who used military force against indigenous peoples ...
Weegy: Spanish explorers who used military force against indigenous peoples while looking for wealth were called: ...
2/23/2024 7:19:10 PM| 4 Answers
GET
Answers.
GET THE APP.
weegy*
*
Get answers from Weegy and a team of really smart live experts.
S
L
Points 50 [Total 630] Ratings 0 Comments 50 Invitations 0 Online
S
Points 28 [Total 81] Ratings 0 Comments 28 Invitations 0 Offline
S
L
Points 4 [Total 3020] Ratings 0 Comments 4 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.