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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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In the short run, the quantity of output that firms supply can deviate from the natural level of output if the ___________ level
Zielflug [23.3K]

Answer:

1.  Actual Price

2.  Misperceptions theory.

Explanation:

In the short run, the quantity of output that firms supply can deviate from the natural level of output if the ACTUAL PRICE level in the economy deviates from the expected price level. Several theories explain how this might happen.

For example, the MISPERCEPTIONS THEORY asserts that output prices adjust more quickly to changes in the price level than wages do, in part because of long-term wage contracts. Suppose a firm signs a contract agreeing to pay its workers $15 per hour for the next year, based on an expected price level of 100 Year.

The above explanations is the reason why the aggregate supply curve slopes upward in the short run

4 0
3 years ago
An economy has experienced a rightward shift of its long-run aggregate supply curve and is now producing on that new long-run ag
slavikrds [6]

Answer:

The answer is letter D.

Explanation:

It is reasonable to expect that the cyclical unemployment rate has been unaffected.

4 0
3 years ago
Many companies use the Internet to allow consumers to design customized products; for example, Nike allows customers to order sh
Alja [10]

Answer:

The correct answer is A. micro-marketing.

Explanation:

In micro marketing strategy marketers give their advertising ans selling efforts on a small group of tightly targeted consumers.

For example, the market can be grouped into small groups based on a commitment to a product class or readiness to purchase a given brand.This grouping can be based on following aspect of customers

1). Locayion

2). Relationships

3). Job Title

4). Industry

5). Size

5). Customer Needs

6). Brand Loyalty

7). Customer Recovery

8). Price Sensitivity

Nike allows customers to order shoes with custom color combinations is a type of need based micro-marketing.

4 0
3 years ago
Whether a business makes a profit or loss is determined by the difference between the total amount of money a business takes in,
elena55 [62]

Answer:

Revenue/Income; Expenses

Explanation:

Profit or Loss is determined as the difference between the revenue made by a business (also known as its income), and the expenses spent in the process of generating that revenue.

Profit/Loss = Revenue - Expenses

If the difference is positive, the outcome is a profit. If the difference is negative, the outcome is a loss.

5 0
3 years ago
Budgeting material purchases budget. The Howell Company has prepared a sales budget of 42,000 finished units for a 3- month peri
tangare [24]

Answer:

The number of Gallon materials Howell company should buy is 166000 Gallons

Explanation:

Finished goods

opening inventory               11000

produced                                            

closing inventory                13000

finished goods sold            42000

using the bottom up approach to get goods produced

sold goods + closing goods - opening goods = produced =44000 goods

Direct material ( Gallons)

opening materials                  66000

purchased                             166000              

available for use                   232000

used in production                 176000

closing gallons                       56000

We use the bottom up approach to get the materials to be purchased

closing stock plus used in production to get available for use then subtract opening material to get purchased = 166000

4 0
3 years ago
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