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Tems11 [23]
3 years ago
6

Venus inc. paid $5,000 for account payable. how does this transaction affect the accounting equation of venus? select one:

Business
1 answer:
yuradex [85]3 years ago
7 0
The journal entry for this transaction is

Account payable (Dr) 5000
Cash. (Cr) 5000

So the answer is
a. assets decrease by $5,000 and liabilities decrease by $5,000.

Hope it helps!
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John's T-shirt business uses the demand function P= -Q + 38 and the supply
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The correct option is - B (16, 22)

Explanation:

<u>Given: </u>

Demand function = P = -Q +38

Supply function = P = Q – 6

<u>In order to find the equilibrium, the demand function must be equal to the supply function. </u>

Thus, putting the demand function equal to the supply function , we get,

Q – 6 = -Q + 38

Solving the above equations, Q = 22

Now, putting the value of Q in demand function in order to find out the value of P,

P = -22 + 38

P = 16

Thus, Option B is correct (16, 22)

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Lucia Ltd. reported net income of $135,000 for the year ended December 31, 2016. January 1 balances in accounts receivable and a
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Lucia's cash flows from operating activities would be:

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