Question

if a company receives 13,300 from a client for services provided the effect on the accounting equation would be

Answer 1

Based on the fact that the company received 13,300 currency units from a client, the effect on the accounting equation would be increase in assets and increase in equity.

What is the change in the accounting equation?

The accounting equation is:

Assets = Equity + Liabilities

The 13,300 currency units would count as cash which is an asset so assets will increase by the amount of $13,300.

The same $13,300 will also count as revenue as the company receives it for services rendered so the revenue will increase. Revenue is an equity account so Equity will increase.

Find out more on the accounting equation at brainly.com/question/24401217

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