1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
poizon [28]
3 years ago
11

Tonelli Trucking buys a $65,000 truck on credit. Which financial statement will be affected by this transaction?

Business
1 answer:
Arlecino [84]3 years ago
6 0

Answer:

A : balance sheet only

Explanation:

In the given question, the truck was purchased on credit and the truck is a fixed asset that comes under the balance sheet only because in the income statement, the expenses and revenues are recorded whereas retained earnings records profit which is left to the company.  

So, it affects the balance sheet only. As balance sheet records all types of assets and all types of liabilities plus shareholder equity.

You might be interested in
The Northern Division of Southwest Clothing Inc. forecasts (has budgeted) the following income statement for the upcoming year:
Alex

Answer:

Operating loss will decrease by $20,000

Explanation:

Operating loss from normal business activities and if the division is not shut down = $150,000.

Operating loss if division is shut down by the management = $130,000 ($480,000 - $350,000) because the management has determined that $350,000 of the $480,000 Fixed Costs shown would be eliminated if that happens.

So, if the Northern Division is shutdown, the Operating loss will decrease by $20,000 (From $150,000 to $130,000)

5 0
3 years ago
Customers paying with credit consider the purchase a kind of
Anna35 [415]

Answer:

The answer is investment

Explanation:

4 0
3 years ago
Which fact supports the idea that renting is a good
kipiarov [429]

The fact that support the idea that renting is a good is Landlords take care of most maintenance.

<h3>What is renting?</h3>

Renting refers to an agreement where a payment is made for the temporary use of a good, service or property owned by another.

It is obtaining a owner's property, in return for regular payments.

Hence, the fact that support the idea that renting is a good is Landlords take care of most maintenance.

Learn more about renting here : brainly.com/question/13393299

#SPJ1

3 0
2 years ago
The partnership of Brandon and Ryan is being liquidated. All gains and losses are shared in a 3:1 ratio, respectively. Before li
Travka [436]
The answers are the following:
a. 
Brandon:
$7,000 + [($10,000/4)×3¿= $8,500
Ryan:
$7,000 + [($10,000/4)×1¿= $7,500

b.
Brandon $7,000
Ryan <span>$7,000</span>
6 0
3 years ago
Labeling researchers focus on "extra legal" variables to explain differences in arrest and prosecution rates as well as entencin
Elena L [17]
True

<span>Labeling theory is a sociological and criminological theory stating that a strong, negative reaction from society to an individual's crime or misbehavior can drive that individual to be more deviant by affecting (negatively) his/her self concept and by preventing him/her from gaining access to conventional opportunities.
</span>
Extralegal factors are those that are not covered or regulated by law. Examples of these factors or variables include gender, age, social class, race and economic status. Consciously or not, these variables can be taken as "biases" that may affect prosecution and arrest of certain individuals. 
3 0
3 years ago
Other questions:
  • Which act outlaws injunctions for nonviolent labor union activities and makes yellow-dog contracts unenforceable?
    5·1 answer
  • Poppy co. uses a periodic inventory system. beginning inventory on january 1 was understated by
    15·1 answer
  • A(n) is a long-term contract under which a borrower agrees to make payments of interest and principal on specific dates. There a
    10·1 answer
  • Albend Holmes wants to deposit $4,500 in a bank account that pays 8.25 percent annually. How many years will it take for his inv
    7·1 answer
  • A certain country taxes the first $20,000 of an individual's income at a rate of 15%, and all income over $20,000 is taxed at 20
    8·1 answer
  • A company that creates education products is planning to create a suite of books to help customers prepare for high-stakes tests
    15·1 answer
  • Everything that consumers evaluate when deciding whether to buy a good or service is called the
    15·1 answer
  • Helppppp <br><br> With question 8 only please
    13·1 answer
  • The CEO of TruTone Manufacturing tells her executive management team that the company must become more agile to stay competitive
    5·1 answer
  • Which of these facts about a region are most helpful in understanding the region's economy?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!