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Alexus [3.1K]
1 year ago
15

Pete jackson purchased office equipment costing $3,000 for his business and paid immediately. record this transaction in the acc

ounting equation by:_____.
Business
1 answer:
Hatshy [7]1 year ago
3 0

Pete Jackson purchased office equipment costing $3,000 for his business and paid immediately. record this transaction in the accounting equation by: decrease cash, increase equipment.

When using the accounting equation, recording the acquisition of kit for cash would come with a rise to the account and a decrease to the (Cash/Equipment/Supplies) account. What's the right definition of an asset? Business activities change the amounts within the accounting equation.

The purchase of an equipment would only result in a rise in an asset (Equipment) and a decrease in another asset (Cash) within the same amount which might result in the identical total amount of assets, liabilities and equity, and can not affect the fundamental accounting equation.

The formula is straightforward: A company's total assets are adequate to its liabilities plus its shareholders' equity. The accounting equation is also expressed as assets - liabilities = owner's equity.

learn more about Equipment: brainly.com/question/24194507

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kakasveta [241]

Answer:

Communicating value

Explanation:

Communicating value involves showing others what makes one's product or skills different and better than others that are available.

What value means to stakeholders in a situation needs to be defined.

Focus is then given to how the skill or product can meet these unique needs.

Also one needs to understand the most effective platform to use in communicating value.

In this instance Ethan wants to make his resume stand out from all the other resumes that the company receives in order to be selected for an interview

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5 0
3 years ago
Equipment costing $17,500 with an estimated salvage value of $1,180 and an estimated life of 4 years was purchased on October 31
svp [43]

Answer:

the depreciation expense recorded is $680

Explanation:

The computation of the depreciation expense under the straight-line method is shown below:

= (Purchase cost - residual value) ÷ (estimated life)

= ($17,500 - $1,180) ÷ ( 4 years)

= $4,080

Now the 2 months depreciation is i.e. from November to December

= $4,080 × 2 months ÷ 12 months

= $680

Hence, the depreciation expense recorded is $680

8 0
3 years ago
Beck Manufacturing reports the following information in T-account form for 2019. Raw Materials Inventory Begin. Inv. 10,000 Purc
sleet_krkn [62]
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3 years ago
Economic Order Quantity computes:
Mamont248 [21]

Answer:

D: Optimum Order size​

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Economies of scale suggest that a bigger order size is better because the business will save transport costs. However, ordering in large quantities increases the cost of holding stock. The economic order quantity strikes a balance between these two important factors.

7 0
3 years ago
Explain the role of an Equality Officer in industrial relations
oee [108]

Explanation:

that the company and employees are apply by all government equal rights laws

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