Question

1 points

Question 7

1. Wyatt Products owned land originally costing $19,000. A real estate agent appraised the land and stated that it is now worth $22,000. Wyatt Products should

2. Question 10 Green Technologies is a sole proprietorship owned by Rebecca Day. Rebecca acquired $4,000 worth of equipment for use in her store. She will pay for the equipment in 30 days. The effect of this transaction on Green Technologies would be to increase the equipment account by $4,000 and increase the capital account by $4,000. This would not change any account because this transaction does not affect Professional Printing. increase the equipment account by $4,000 and increase the accounts payable account by $4,000. This would not change any account because the equipment has not been paid for. increase the equipment account by $4,000 and decrease the accounts payable account by $4,000.		There is no effect from this transaction on the accounts of Wyatt Products.
   		increase the land account by $3,000 and increase the cash account by $3,000.
   		increase the land account by $3,000 and increase the paid-in capital in excess of par account by $3,000.
   		increase the land account by $3,000 and increase the capital stock account by $3,000.
   		increase the land account and the unearned revenue account.

Answer 1

1) Solution: There is no effect from this transaction on the accounts of Wyatt Products

Explanation: The accounts of Wyatt Products would not be impacted by the appraisal of land by the real estate agent

2) Solution: increase the equipment account by $4,000 and increase the accounts payable account by $4,000.

Explanation: As the equipment is purchased thus there is an increase in the equipment account and the accounts payable