Cash outflows result from increases in asset accounts and decreases in liability and equity accounts. True...
Cash outflows result from increases in asset accounts and decreases in liability and equity accounts.
True
False
Homework Answers
The main equation is:
Assets = Liabilities+Equity
Both sides must be balanced at all times, L.H.S=R.H.S, cash belongs in asset category, if cash goes down or there is outflow, either of the two things can be done to balance the equation. One can increase the other asset account or decrease the liability or equity account.
Hence the given statement is true.
Add Answer to:
Cash outflows result from increases in asset accounts and
decreases in liability and equity accounts.
True...
an account is a record of increases and decreases in a specific asset liability equity revenue...
an account is a record of increases and decreases in a specific asset liability equity revenue or expense item true or false
Collection of a $2800 Accounts Receivable increases an asset $2800; decreases a liability $2800. decreases a...
Collection of a $2800 Accounts Receivable increases an asset $2800; decreases a liability $2800. decreases a liability $2800; increases stockholders' equity $2800. increases an asset $2800; decreases an asset $2800. decreases an asset $2800; decreases a liability $2800. Save for Later 80
a transaction that decreases a liability and increases an asset must also affect one or more...
a transaction that decreases a liability and increases an asset must also affect one or more other accounts true or false
Collection of a $620 Accounts Receivable O increases an asset $620; decreases an asset $620. O...
Collection of a $620 Accounts Receivable O increases an asset $620; decreases an asset $620. O decreases an asset $620; decreases a liability $620. O increases an asset $620; decreases a liability $620. O decreases a liability $620; increases stockholders' equity $620.
Receipt of cash before a good is provided or service is performed 1- increases an asset...
Receipt of cash before a good is provided or service is
performed
1-
increases an asset and increases a revenue.
decreases a liability and increases Shareholders’ Equity.
decreases a revenue and increases Shareholders’ Equity.
increases an asset and increases a liability.
2-
Payment of a dividend
increases Expenses and decreases Cash.
decreases Cash and increases Shareholders’ Equity.
decreases Cash and decreases Retained Earnings.
increases Retained Earnings and increases Expenses.
3-
Accounting systems should record
all economic events.
events that result...
Collection of $440 accounts receivable olection of a $440 Accounts Receivable Increaseh an asset $440; decreases...
Collection of $440 accounts receivable
olection of a $440 Accounts Receivable Increaseh an asset $440; decreases an asset $440. O decreases an asset $440; decreases a liability $440. increases an asset $440; decreases a liability $440 decreases a liability $440; increases stockholders' equity $440 lick if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE 200.201,Jetomerksons.Inc. Au Rights erved. A Division of letnyǐleyASensJnc. F8 F9 F10 7 0
1. Is Accounts Receivable an example of a Asset, Liability, Debit or Credit? 2. Are Dividends...
1. Is Accounts Receivable an example of a Asset, Liability, Debit or Credit? 2. Are Dividends an example of a Asset Account, Liability Account, Equity Account, or Debit Account? 3. Are Notes Payable an example of a Equity Account, Debit Account, Asset Account or Liability Account? 4. True or False: An increase in the Cash balance for a business is entered as a debit to the account. 5. True or False: An increase to the Revenue account of a business...
4. Classify the following accounts either as an "asset, "liability" or "equity" A. Asset L. Liability...
4. Classify the following accounts either as an "asset, "liability" or "equity" A. Asset L. Liability E. Equity Owner's capital Unearned revenue Buildings Medical Equipment Cash Medical Supplies Accounts Payable Owner's withdrawals Prepaid Accounts Accounts receivable Accrued Liabilities Inventory · Revenues Short-term notes payable Expenses
decreases an asset $800; decreases a liability $800. has no effect on total assets. Question 4...
decreases an asset $800; decreases a liability $800. has no effect on total assets. Question 4 (1 point) Accounting systems should record all economic events. O events that result in a change in assets, liabilities, or shareholders' equity items. only events that involve cash. only events that include revenues, expenses, and cash. Question 5 (1 point) When a liability decreases the account is credited and the normal balance is a debit balance.
Cash received from customers may result in a current liability True O False
Cash received from customers may result in a current liability True O False
Collection of a $2800 Accounts Receivable increases an asset $2800; decreases a liability $2800. decreases a liability $2800; increases stockholders' equity $2800. increases an asset $2800; decreases an asset $2800. decreases an asset $2800; decreases a liability $2800. Save for Later 80
Collection of a $620 Accounts Receivable O increases an asset $620; decreases an asset $620. O decreases an asset $620; decreases a liability $620. O increases an asset $620; decreases a liability $620. O decreases a liability $620; increases stockholders' equity $620.
Receipt of cash before a good is provided or service is
performed
1-
increases an asset and increases a revenue.
decreases a liability and increases Shareholders’ Equity.
decreases a revenue and increases Shareholders’ Equity.
increases an asset and increases a liability.
2-
Payment of a dividend
increases Expenses and decreases Cash.
decreases Cash and increases Shareholders’ Equity.
decreases Cash and decreases Retained Earnings.
increases Retained Earnings and increases Expenses.
3-
Accounting systems should record
all economic events.
events that result...
Collection of $440 accounts receivable
olection of a $440 Accounts Receivable Increaseh an asset $440; decreases an asset $440. O decreases an asset $440; decreases a liability $440. increases an asset $440; decreases a liability $440 decreases a liability $440; increases stockholders' equity $440 lick if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE 200.201,Jetomerksons.Inc. Au Rights erved. A Division of letnyǐleyASensJnc. F8 F9 F10 7 0
4. Classify the following accounts either as an "asset, "liability" or "equity" A. Asset L. Liability E. Equity Owner's capital Unearned revenue Buildings Medical Equipment Cash Medical Supplies Accounts Payable Owner's withdrawals Prepaid Accounts Accounts receivable Accrued Liabilities Inventory · Revenues Short-term notes payable Expenses
decreases an asset $800; decreases a liability $800. has no effect on total assets. Question 4 (1 point) Accounting systems should record all economic events. O events that result in a change in assets, liabilities, or shareholders' equity items. only events that involve cash. only events that include revenues, expenses, and cash. Question 5 (1 point) When a liability decreases the account is credited and the normal balance is a debit balance.
Cash received from customers may result in a current liability True O False
Most questions answered within 3 hours.
-
Suppose X∼Exp(λ) for some λ >0. Compute E(X) and Var(X).
asked 12 minutes ago -
Xanth Co. has 8.9% annual coupon bonds with face value of $1,000
and 7 years remaining...
asked 9 minutes ago -
The Bellevue University bookstore purchases sweatshirts with the
school name and logo from a vendor. The...
asked 12 minutes ago -
If you invest the $10,000 you receive at graduation in a mutual
fund which averages a...
asked 14 minutes ago -
Consider 15 mL of an aqueous solution containing 2.0 g of an
organic solute.If the distribution...
asked 14 minutes ago -
Define the following Marketing Psychology Principles of Human
Behavior: Priming, Reciprocity, Social Proof, Decoy Effect,
Scarcity,...
asked 30 minutes ago -
What does the graph of Range vs angle look like? Also what is
the slope of...
asked 33 minutes ago -
a
sample size of _ is needed So there a 99% confidence interval will
have a...
asked 39 minutes ago -
Strategy is an important part of project management and business
decisions. Define strategy and describe in...
asked 42 minutes ago -
Task 5.2 Numerical Analysis Using Nested Loops (13 pts)
Consider the following program:
void setup()
{...
asked 56 minutes ago -
If a lossless transformer has 1000 turns for a primary winding
and 100 turns for the...
asked 1 hour ago -
Write the net ionic equation for the precipitation reaction that
occurs when aqueous solutions of potassium...
asked 1 hour ago