Services are provided for customers who are sent bills for the amount they owe. For this...
Services are provided for customers who are sent bills for the amount they owe. For this transaction, identify the effect on the accounting equation.
a.Liabilities increase and stockholders' equity decreases.
b.Assets increase and liabilities increase.
c.Liabilities decrease and assets decrease.
d.Assets increase and stockholders' equity increases.
Homework Answers
Accounting equation
| Assets | = | Liabilities | + | Stockholder's equity |
| Increase | NA | Increase | ||
So answer is d) Assets increase and stockholders' equity increases.
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Services are provided for customers who are sent bills for the
amount they owe. For this...
Services are provided for customers who are sent bills for the amount they owe. For this...
Services are provided for customers who are sent bills for the amount they owe. For this transaction, identify the effect on the accounting equation Lamni A bill is received for electric service; the charge for the electricity is recorded, but payment will be made later. For this transaction, identify the effect on the accounting equation.
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what effects on a retail stores accounting equation occur when
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Services are provided for customers who are sent bills for the amount they owe. For this transaction, identify the effect on the accounting equation Lamni A bill is received for electric service; the charge for the electricity is recorded, but payment will be made later. For this transaction, identify the effect on the accounting equation.
what effects on a retail stores accounting equation occur when
merchandise return by customers who is recorded
What effects on a retail store's accounting equation occur when merchandise returned by customers is recorded? A. Assets and stockholders equity decrease. OB. Assets and stockholders' equity increase. O C. Assets decrease and liabilities increase. O D. Stockholders' equity decreases and liabilities increase.
The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $46,000. b. Receive cash of $38,000 from customers in (a) above. c. Purchase bike equipment by signing a note with the bank for $31,000. d. Pay utilities of $4,600 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.) Assets...
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Bob's Cleaning Services performs services for its customers during March. Payments for the March services are received in June. How does the transaction for the collection of cash from customers WA affect the accounting equation of Bob's Cleaning Services? A. assets increase and revenues increase B. assets increase and equity decreases C. total assets remain the same D. liabilities increase and assets increase
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