Homework Answers
Answer :
Correct answer is ,
option b = Asset and equity by R$ 390,000
Reason :
For the given transaction ,
On rendering of services worth R $ 390,000, revenue will increase with this total amount, which will increase retained earning balance in equity portion.
On the other hand,
Partial amount collected R $ 130,000 will increase cash with the same amount on asset side .
And the balance amount $ 260,000 will increase the account receivable balance on the asset side with this amount.
As cash and account receivable both are asset. Total increase in asset will be $ 390,000.
Thus option but is correct.
Performing services for R$ 390,000 will increase asset and equity by R$ 390,000.
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