Corporate image is more about how a brand makes people feel, while reputation includes people’s perceptions of a company’s products, leadership, finances, social responsibility, and interactions with its costumers, employees, and community. Both corporate image and reputation can impact a company’s revenue and success.
Danger Mouse Inc. sells $1,300 worth of equipment to Matador Company. The effect of cash on the elements of the Matador Company's fundamental accounting equation is that the total assets remain unchanged.
How much are total assets?
- Current assets and non-current assets, often known as fixed assets, are divided up into total assets.
- Short-term assets known as current assets are utilised to cover current liabilities.
- Long-term assets known as fixed assets are employed by businesses to produce revenue and profits.
- This transaction results in a $1,300 drop in the cash balance and a $1,300 rise in fixed assets, leaving the total assets unchanged.
- The entry is as follows:
General Journal Debit Credit
Equipment $XX
Cash $XX
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I would try Amazon or Ebay.
Is this a school question?
An action which this company needs to take is debit Inventory and credit Cost of Goods Sold for $1,500.
<h3>What is journal entry?</h3>
A journal entry can be defined as a process which involves keeping the records of the financial transactions of a business such as sales, salaries, inventory, etc, that are made by a business organization.
In Financial accounting, the journal entry is generally used by both bookkeepers and accountants for effective and efficient record purposes. This ultimately implies that, it is very important that a journal comprises the following information;
- Date
- Reference number.
- Credit balance.
- Transaction description.
- Debit balance.
In this scenario, the proper journal entry to record this financial transaction consists of a debit Inventory and credit to Cost of Goods Sold for $1,500.
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Answer:
$29,400
Explanation:
The company will distribute dividends only to outstanding shares, since the number of outstanding shares is not specified, we should assume that all the 49,000 shares issued are outstanding shares. The company declared a 2% dividend, so we must multiply the current value of the stock times 2% = $30 x 2% = $0.60 per share.
The total amount distributed was 49,000 outstanding shares x $0.60 per share = $29,400