Homework Answers
Answer : Option A , Increase in Asset (Cash) and Increase in Owners Equity ( Michael Anderson , Capital) .
Explanation;
The accounting equation will be affected .There will be an increase in the Asset in the form of Cash and Increase Owners Equity that is of Michael Andorson .
Owners Equity is the amount that amount is invested by the owner in to the business, excluding from the withdrawal process and this amount is adding the net income or net loss .
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Calculator Michael Anderson is starting a computer programming business and has deposited an initial Investment of...
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alculatO Owner's withdrawals a. increase expenses b. decrease owner's equity c. decrease expenses Od. increase cash Google Translate C Log in to Clever CalcuiatO The accounting equation may be expressed as Oa. Assets + Liabilities = Owner's Equity Ob. Assets = Revenues-Liabilities Oc. Assets-Liabilities = Owner's Equity Od. Assets = Equities-Liabilities The objectivity concept requires that a. the Financial Accounting Standards Board be fair and unbiased in its deliberations over new accounting standards b. accounting principles meet the...
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ent/takeAssignmentMain.do nVöRer-assigiimerits&iakeass Calculator How does receiving a bill to be paid next month for received affect the accounting equation? a. assets decrease, owner's equity decreases Ob. liabilities increase; owner's equity increases c. liabilities increase, owner's equity decreases Od. assets increase; liabilities increase
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Calculator The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $194,100 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $560 Accounts receivable 10,340 Office expense 550 Cash 32,320 Supplies 1,670 Fees earned 78,730 Wages expense 33,380 Land...
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Oriole Enterprises had the following selected transactions. 1. Bo Oriole invested $6,400 cash in the business....
Oriole Enterprises had the following selected transactions.
1. Bo Oriole invested $6,400 cash in the business.
2. Purchased a 2-year insurance policy for $3,840.
3. Paid office rent of $1,344.
4. Performed consulting services and billed a client $8,320.
5. Bo Oriole withdrew $1,200 cash for personal use.
Prepare the debit-credit analysis for each transaction.
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Calculator Which of the following best describes one effect of recognizing expenses incurred by a business entity? Oa. Contributed capital will increase. Ob. Retained earnings will decrease. Oc. Assets will increase. Od. Liabilities will decrease.
Please help!!
alculatO Owner's withdrawals a. increase expenses b. decrease owner's equity c. decrease expenses Od. increase cash Google Translate C Log in to Clever CalcuiatO The accounting equation may be expressed as Oa. Assets + Liabilities = Owner's Equity Ob. Assets = Revenues-Liabilities Oc. Assets-Liabilities = Owner's Equity Od. Assets = Equities-Liabilities The objectivity concept requires that a. the Financial Accounting Standards Board be fair and unbiased in its deliberations over new accounting standards b. accounting principles meet the...
What’s the answer
ent/takeAssignmentMain.do nVöRer-assigiimerits&iakeass Calculator How does receiving a bill to be paid next month for received affect the accounting equation? a. assets decrease, owner's equity decreases Ob. liabilities increase; owner's equity increases c. liabilities increase, owner's equity decreases Od. assets increase; liabilities increase
Calculator The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $194,100 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $560 Accounts receivable 10,340 Office expense 550 Cash 32,320 Supplies 1,670 Fees earned 78,730 Wages expense 33,380 Land...
nt/takeAssignmentMain.dožinvoker-&takeAssignmentSessionLocator-assignment-take&inprog Calculator Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Based on the data for Harding Company, what is the amount of quick assets? Oa. $55,781 Ob. $120,357 Oc. $1,605,484 Od. $798,062 $27,541 64,576 6,249 16,440 44,175 81,104 102,070 76,269 39,341 22,565 661,177 2,017
Indicate the effect of the following transaction on the elements of the accounting equation. Purchased land by signing a nine-month, non-interest-bearing note payable. assets increase; liabilities increase assets decrease; liabilities decrease assets increase; owner's equity increase assets increase; owner's equity decrease Question 2 3 pts Received $12,000 cash for services provided to a customer. debit accounts receivable; credit fees earned debit cash; credit fees earned debit fees earned; credit cash debit cash; credit supplies expense Account used to record amounts...
The following entry was recorded in the books of Brighty Company. 3,000 Apr. 8 Accounts Payable-Marigold, Inc. Inventory Debit Memo No. 25. 3,000 What is the impact of this entry on the accounting equation? Oa. an increase in Assets and an increase in Equity Ob. a decrease in Assets and a decrease in Liabilities Oc. a decrease in Assets and a decrease in Equity d. an increase in Assets and an increase in Liabilities
UUUN Calculator Effect of Transactions on Accounting Equation Jay Pembroke started a business. During the first month (April 20-), the following transactions occurred. a. Invested cash in business, $19,500. b. Bought office supplies for $4,500: $2,100 in cash and $2,400 on account. c. Paid one-year insurance premium, $1,400. d. Earned revenues totaling $3,300: $1,400 in cash and $1,900 on account. e. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,050. f. Paid office...
When is a trial balance usually prepared? O A. before the financial statements are prepared OB. at the beginning of an accounting period OC. after the financial statements are prepared OD. after each entry is journalized The following transactions have been journalized and posted to the proper accounts. March is the first month of business operations. Mar. 1 The business received $7,000 cash and issued common stock to stockholders. Mar. 2 Paid the first month's rent of $600. Mar. 3...
Oriole Enterprises had the following selected transactions.
1. Bo Oriole invested $6,400 cash in the business.
2. Purchased a 2-year insurance policy for $3,840.
3. Paid office rent of $1,344.
4. Performed consulting services and billed a client $8,320.
5. Bo Oriole withdrew $1,200 cash for personal use.
Prepare the debit-credit analysis for each transaction.
Debit-Credit Analysis Effect on Amounts Effect on Accounting Equation : Debit Cash 1. Debits Increase Assets 6,400 Credits Increase Owner's Equity 4: Credit Owner's Capital...
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