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arsen [322]
3 years ago
6

On January 1, Brad Inc. sold $30,000 in products to a customer on account. Then on January 10, Brad collected the cash on that a

ccount. What is the impact on Brad's accounting equation from the collection of cash on January 10?
Assets increase and liabilities decrease.
Assets decrease and liabilities decrease.
No net effect on the accounting equation.
Assets increase and stockholders' equity increases.
Business
1 answer:
ozzi3 years ago
3 0

Answer:

No net effect on the accounting equation.

Explanation:

Given that,

On January 1, Products sold to a customer on account = $30,000

On January 10, Cash collected from a customer = $30,000

Accounting equation is as follows:

Assets = Liabilities + Stockholder's equity

On January 10,

The cash of $30,000 is received from the customer which increases the assets by $30,000 and reduces the accounts receivable by $30,000 which is also a part of assets. Therefore, there is no change or impact on the accounting equation.

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The _____ measures the dollar value at current market prices of all final goods and services produced annually by factors of pro
vlabodo [156]

Answer:

A) gross national product (GNP)

Explanation:

The gross domestic product (GDP) measures the market value of the total production of final goods and services produced within a country during a year.

The GNP is different because it measures the market value of the total production of goods and services produced by the people or businesses of a country within a year. For example, sales of Apple products in Europe do not increase the GDP, but they increase the GNP.

8 0
3 years ago
JG Asset Services is recommending that you invest $1,500 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compou
skelet666 [1.2K]

Answer:

So after 5 year total amount will be $1781.529

So option (a) is correct option

Explanation:

We have given that JG Asset is recommending that you invest $1500 for 5 years at rate of 3.5%

So principle amount P = $1500

Rate of interest r = 3.5 %

Time n = 5 years

We know that when total amount is given by

A=P(1+\frac{5.5}{100})^n, here r is rate of interest and n is time period

So amount after 5 years will be

A=1500(1+\frac{3.5}{100})^5=$1781.52

So after 5 year total amount will be $1781.529

So option (a) is correct option

5 0
3 years ago
Which statements indicate that Rick’s company is a limited liability company? Rick Douglas is a bright and passionate lighting d
uranmaximum [27]

The statements are:

Because Dazzle is not a separate tax entity, all the owners declare revenue earned through the company on their personal federal tax returns.

The $5 million dollar villa is protected from business liabilities unless the liability is incurred through wrongful acts.

4 0
3 years ago
if china’s economy maintains a 7% annual growth rate over the next 20 years, about how large will its economy be in 20 years if
grin007 [14]

Answer:

If an economy grows at 7% per year, it will take 70 / 7 = 10 years for the size of that economy to double, and so on.

3 0
2 years ago
Consider the market for mobile applications, smartphones, and conventional phones. Each pair are they complements or substitutes
madam [21]

Explanation:

Complements and Substitutes are basically the goods or services. Complements are the goods which are used with one another, and with the increase of price of one good, the demand of other good falls. On the other hand, substitutes are the goods which are used in place of other goods and with the increase in the price of one good, the demand of other product increases.

In this question, Mobile Applications and Smart Phones are Complements, and Smart Phones and Conventional Phones are Substitutes, and Mobile Applications and Conventional Phones are substitutes.

5 0
3 years ago
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