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Tpy6a [65]
3 years ago
6

Ocean Breeze Co. paid $500 cash for expenses related to advertising for the period. Which of the following shows how this event

will affect the company’s accounting equation? The letters ""NA"" indicate that the component of the equation is not affected.
Business
1 answer:
Simora [160]3 years ago
3 0

Answer:

($500) = NA + NA + ($500)

Explanation:

In this question, the following accounting equation is used

Assets = Liability + common stock + retained earnings

As in the transaction, it is given that $500 cash is paid for advertising expense, so this event would be affecting the accounting equation for asset and the retained earning account i.e

($500) = NA + NA + ($500)

As cash is paid which reduces the asset balance plus the retained earning balance is also get reduced by $500

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Answer:

d. $1,000

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP = Consumption spending by households on durable and non durable goods and services + Investment spending by businesses + Government Spending + Net Export

Consumption spending = $200 + $200 + $100 = $500

Investment spending = $200 + $(500 - 400) = $300

Government spending = $200 + $100 = $300

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Net export = Export- Import = $400 - $500 = $-100

GDP = $500 + $300 + $300 - $100 = $1000

I hope my answer helps you

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