The effect of the transaction by Atkins Company of collecting payment for an amount owed by a customer is One asset would increase $1,750 and a different asset would decrease $1,750, causing no effect.
<h3>How does an increase and decrease in assets affect the accounting equation?</h3>
The fact that a customer owed Atkins Company means that the customer was an accounts receivable which is an asset account.
The cash that Atkins Company collected is also an asset. So, the transaction simply led to one asset(accounts receivable) being reduced and the other asset(cash) being increased. The amount is the same so there would be no effect.
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Answer and Explanation:
The computation is given below:
For Bank A,
Effective annual rate is
= (1 + 0.10 ÷ 12)^12 - 1
= 10.47%
For Bank B,
Effective annual rate is
= (1 + 0.11 ÷ 4)^4 - 1
= 11.46%
And,
For Bank C,
Effective annual rate = 12%
Therefore, Bank A is best to borrow at lowest effective annual rate
Answer:
Wyatt
Explanation:
High outcome interpendence is a concept that encourages cooperation between members on a team. It shows that if a team wins all members will benefit, and if the team fails all members will be adversely affected.
In this scenario Wyatt who is a slacker in the team of Nick will stand to gain more.
In a high outcome interpendence scenario Nick will be forced to improve on the performance of Wyatt in order to meet team objectives.
The other average workers will only gain a little from increased cooperation.
Answer and Explanation:
The preparation of the sales section of the income statement is presented below:
<u>Income Statement
</u>
<u>For the year ended </u>
Sales
Sales revenue $903,400
Less:
Sales Discount $15,400
Sales return & allowances $22,000
Net Sales $866,000
hence the net sales is $866,000
The freight out would not be considered. Hence, ignored it
Answer:
B. the demand for a product and its price has a direct relationship
Explanation:
demand comes from the price which ultimately effects the proportions with the consumers purchasing the product. if the product is good enough with a fair price to come with it, the demand will increase, or if a product becomes more scarce the demand for it will increase along with the price raising.
