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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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Suppose Nippon Technology had the following results related to cash flows for 2020: Net Income of $8,400,000 Adjustments from Op
Flauer [41]

Answer:

$9,800,000

Explanation:

                Statement of Cash Flows (Indirect Method)

Particulars                                                                           Amount

Net income                                                                      $8,400,000

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Net cash flow from Operating Activities (I)                    $7,100,000

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Add: Net Cash Flow from Financing Activities (III)        <u>$4,000,000</u>

Net Cash Flow (I+II+III)                                                   <u>$9,800,000</u>

4 0
3 years ago
Imagine that an exchange student from China visits your class. While your teacher discusses how the United States has a limited
Marrrta [24]

The point best highlights about the US government limited power is that limited government protects individual freedoms. Thus the option (C) is correct.

<h3>What is Government?</h3>

Government refers to the group of individual governing the nation. The main role of the government is the protect of its territory from the outsiders. It functions in various sectors such as health, education, defense, infrastructure etc.

As per the above scenario, a Chinese students asks his teacher that why the American government has the limited power the best reason for the limited power is government protects the individual freedom by diving the power into many hands.

With the distribution of the power in the different branches has led to the enjoy the individual freedom. Thus the option (C) is correct.

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8 0
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