1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
scoray [572]
3 years ago
8

Which of the following transactions would cause a decrease in both assets and stockholders' equity? A) Paying advertising for th

e current month. B) Purchasing office equipment on account. C) Paying insurance premium for the next two years. D) Providing services to customers on account.
Business
1 answer:
Rainbow [258]3 years ago
5 0

Answer:

A) Paying advertising for the current month

Explanation:

Stockholder equity is the remaining amount of assets available to shareholder after all the liabilities have been paid. Incurring an advertising budget for that month again is going to reduce their equity and also asset likewise because it is an expense.

You might be interested in
Can i return something to walmart without a receipt?
nevsk [136]

Answer:

Walmart's return policy

Normally, items purchased in our stores or on Walmart.com may be returned or exchanged within ninety (90) days of purchase with or without a receipt.

Explanation:

☺

7 0
2 years ago
Sep. 3 Purchased merchandise inventory on account from Shallin Wholesalers, $7,000. Terms 1/15, n/EOM, FOB shipping point.
myrzilka [38]

Answer:

Sep. 3

Dr Merchandise Inventory $7,000

Cr Accounts Payable—Shallin Wholesalers $7,000

Sep. 4

Dr Merchandise Inventory $55

Cr Cash $55

Sep. 4

Dr Merchandise Inventory $2,100

Cr Cash $2,100

Sep. 6

Dr Accounts Payable—Shallin Wholesalers $1,000

Cr Inventory $1,000

Sep. 8

Dr Accounts Receivable— Herenda Company $5,445

Cr Sales Revenue $5,445

Sep. 8

Dr Cost of Goods Sold $2,255

Cr Merchandise Inventory $2,255

Sep. 9

Dr Merchandise Inventory $10,000

Cr Accounts Payable—Tripp Wholesalers $10,000

Sep. 10

Dr Accounts Payable—Shallin Wholesalers $6,000

Cr Merchandise Inventory $60

Cr Cash $5,940

Sep. 12

Dr Cash $5,445

Accounts Receivable—Herenda Company $5,445

Sep. 13

Dr Accounts Payable—Tristan Wholesalers $100

Cr Merchandise Inventory $100

Sep. 15

Dr Accounts Receivable—Jesper Company $3,500

Cr Sales Revenue $3,500

Sep. 15

Dr Cost of Goods Sold $1,610

Cr Merchandise Inventory $1,610

Sep. 22

Dr Accounts Payable—Tristan Wholesalers $9,900

Cr Cash $9,900

Sep. 23

Dr Refunds Payable $800

Cr Accounts Receivable—Jesper Company $800

Sep. 23

Dr Merchandise Inventory $368

Cr Estimated Returns Inventory $368

Sep. 25

Dr Accounts Receivable—Smithson $1,995

Cr Sales Revenue $1,940

Cr Cash $55

Sep. 25

Dr Cost of Goods Sold $780

Cr Merchandise Inventory $780

Sep. 29

Dr Cash $1,995

Cr Accounts Receivable— Smithson $1,995

Sep. 30

Dr Cash $2,100

Cr Accounts Receivable—Jesper Company $2,100

Explanation:

Preparation of the journal entries

Sep. 3

Dr Merchandise Inventory $7,000

Cr Accounts Payable—Shallin Wholesalers $7,000

Sep. 4

Dr Merchandise Inventory $55

Cr Cash $55

Sep. 4

Dr Merchandise Inventory $2,100

Cr Cash $2,100

Sep. 6

Dr Accounts Payable—Shallin Wholesalers $1,000

Cr Inventory $1,000

Sep. 8

Dr Accounts Receivable— Herenda Company $5,445

Cr Sales Revenue $5,445

[$5,500-(1%*$5,500)]

Sep. 8

Dr Cost of Goods Sold $2,255

Cr Merchandise Inventory $2,255

Sep. 9

Dr Merchandise Inventory $10,000

Cr Accounts Payable—Tripp Wholesalers $10,000

Sep. 10

Dr Accounts Payable—Shallin Wholesalers $6,000

($7,000-$1,000)

Cr Merchandise Inventory $60

(1%*$6,000)

Cr Cash $5,940

($6,000-$60)

Sep. 12

Dr Cash $5,445

[$5,500-(1%*$5,500)]

Accounts Receivable—Herenda Company $5,445

Sep. 13

Dr Accounts Payable—Tristan Wholesalers $100

Cr Merchandise Inventory $100

Sep. 15

Dr Accounts Receivable—Jesper Company $3,500

Cr Sales Revenue $3,500

Sep. 15

Dr Cost of Goods Sold $1,610

Cr Merchandise Inventory $1,610

Sep. 22

Dr Accounts Payable—Tristan Wholesalers $9,900

Cr Cash $9,900

($10,000-$100)

Sep. 23

Dr Refunds Payable $800

Cr Accounts Receivable—Jesper Company $800

Sep. 23

Dr Merchandise Inventory $368

Cr Estimated Returns Inventory $368

Sep. 25

Dr Accounts Receivable—Smithson $1,995

($1,940+$55)

Cr Sales Revenue $1,940

[$2,000-(3%*$2,000)]

Cr Cash $55

Sep. 25

Dr Cost of Goods Sold $780

Cr Merchandise Inventory $780

Sep. 29

Dr Cash $1,995

($1,940+$55)

Cr Accounts Receivable— Smithson $1,995

Sep. 30

Dr Cash $2,100

Cr Accounts Receivable—Jesper Company $2,100

5 0
3 years ago
james has set the goal of achieving all "A"s during this year of school. Which term best describes this goal. A. long-term goal
lyudmila [28]

that answer should be A long term goal

5 0
3 years ago
Read 2 more answers
Gus decides to park his canmper in an empty overgrown lot and connects wires from his camper to an electric pole to obtain elect
anygoal [31]

Answer:

negligence

Explanation:

3 0
3 years ago
Read 2 more answers
Since the 1960s, which of the following has been a notable trend in the demographics of the multinational enterprise?
Irina-Kira [14]

Answer:

D. The growth of Mini - Multinationals

Explanation:

Mini-multinationals are companies or organisations that carry out their business in two or more countries but are still within the definition of small and medium sized organisations.

Initially before the advent of the computer and the accelerated advancement of globalisation only standardized multinationals based on large firms and corporations were able to carry out business across several countries. However, globalisation as well as the rapid advancement of information technology has made tools of business available such that even small or medium sized firms can become multinationals.

For instance, the availability of an e-market and fast delivery methods makes it possible for a local shoe seller to transact businesses across two or more countries. This is defined as a mini-multinational

8 0
3 years ago
Other questions:
  • According to Duffy-Deno (2003), when the price of broadband access capacity (the amount of information one can send over an Inte
    7·1 answer
  • basic commodities such as farm goods are bought and sold in which market structure? a. perfect competition b. monopoly c. oligop
    15·1 answer
  • Joe Bob is an employee of Rollo Corporation who receives a salary of $16,800 per month. How much Social Security tax will be wit
    10·1 answer
  • A revenue variance is the difference between what the total sales revenue should be, given the actual level of activity of the p
    10·2 answers
  • In general, term loans can be created more quickly than bond issues because they (1) tend to be negotiated directly with the len
    14·1 answer
  • When Lofonift Inc. introduced its flagship product, an MP3 player, it captured the MP3 player market by offering its product at
    6·1 answer
  • Suppose a firm’s total revenue is $100 when it sells 10 units, and $110 when it sells 11 units. The firm, therefore, is a(n):
    12·1 answer
  • Gary owns shares in a company called Archibald Industries Inc. The company's financial performance has been declining over the p
    5·2 answers
  • Need help with my career planning
    15·1 answer
  • Business executives often prefer to work with rate of return, so to overcome some of the IRR's limitations the modified IRR was
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!