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Natasha2012 [34]
3 years ago
13

Collins Landscape Company purchased various landscaping supplies on account to be used for landscape designs for their customers

. How will this business transaction affect the accounting equation
Business
1 answer:
hram777 [196]3 years ago
4 0

Answer:

Increase Assets (Supplies) and increase Liabilities (Accounts Payable).

Explanation:

In accounting the accounting equation is the basis for double entry recording of transactions. For every debit there must be an equal and credit.

Accounting equation= Liabilities+ Owners Equity

When Collins Landscape company made the purchase of landscaping supplies on account. That means the transaction was not payed for with cash, so there is an increase in accounts payable (a liability account)

We have an increase in landscaping supplies so Assets increases.

The journal entry will be a debit to Asset (supplies)to increase it, and a credit to account payable bro increase it.

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Celiac disease is triggered by consuming gluten, a protein. It can be found in wheat which is the primary source of flour in baking and cooking. Other food that contains gluten are barley, rye, triticale and oats. 

Since Celiac disease is a serious genetic autoimmune disease, it can be deadly when one consumes food that is rich in gluten. Thus, gluten free food are used to substitute food that contains gluten. 
 
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Assume that the United States has a comparative advantage in aircraft manufacture and India has a comparative advantage in produ
AlekseyPX

Answer:

1. Explain who in the United States would gain?

The government of the United States will gain from the<em> Import duties </em>that will be charged on the Indian textiles.

2. Who might lose from dismantling trade barriers between the United States and India?

<em>The USA will lose if trade barriers are dismantled.</em>

The United States will lose from dismantling trade barriers because the Indian textile will be massively imported in the country thereby crippling the growth of the local textile manufacturing companies in the United States. India has a comparative advantage over the USA in the manufacturing of textiles, which are in constant demand compared to that of the aircraft which are rarely demanded.

Explanation:

1. The government of the United States will gain from the<em> Import duties </em>that will be charged on the Indian textiles. The government will make huge revenues from the import duties since India will manufacture the textiles at the cheapest costs per unit and influx the USA with affordable and quality clothing.

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The United States will lose from dismantling trade barriers because the Indian textile will be massively imported in the country thereby crippling the growth of the local textile manufacturing companies in the United States. India has a comparative advantage over the USA in the manufacturing of textiles, which are in constant demand compared to that of the aircraft which are rarely demanded.

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Based on the above table, which services-providing industry gained the most jobs between 1996 and 2006?
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2) It is financed by more than one person which makes capital more available.

3) Decision making is faster company to limited liability companies

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1) Loss is shared among partners only.

2) Death of one partner might lead to the end of the business.

3) Disagreement between partners might end the business.

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