Answer:
How will this purchase impact the accounting equation of Perfect Printers at the time of the purchase?
An increase in the assets by $200,000 and a similar increase in liability by $200,000
Explanation:
The accounting equation is the foundation for the double enter system of account balancing. In this system, the amount of debits are entered on one side as the corresponding credit is entered on the other side. Then the total credits are added and compared to the sum of the debit. When the credit equals the debit, the accounts balance. The accounting equation can be expressed as;
A=L+E
where;
A=assets
L=liabilities
E=owner's equity
Lets enter the transaction as shown;
Account type Asset Liability
Printing machine $200,000
Cash $200,000
Total $200,000 $200,000
An increase in the assets by $200,000 and a similar increase in liability by $200,000
Answer:
Explanation: Stanley cleaning services unlike Fowler landscaping had to recorded a larger adjusting to their Allowance for doubtful accounts for year ending 2017 due to a higher percentage of bad debts recorded for the year that had to be written off
Answer:
Nominal = 8.8% yearly
Periodic = 2.2% quarterly
Effective = 9.09% compounded Quarterly
Explanation:
Bank issues the nominal Interest rate, so, 8.8% interest rate issued by the bank is the nominal.
Periodic interest rate is the interest rate for a specific period. It is calculated by dividing the annual rate with numbers of period in a year.
8.8% Interest rate is annual rate, to calculate the quarterly rate we divide it by 4.
Interest per quarter = 8.8% / 4 = 2.2%
Effective interest rate included the compounding effect.
Interest is compounded each Quarter
Effective Interest rate = ( 1 + r ) ^n = [ ( 1 + 8.8%/4 )^4 ] - 1 = 9.09%
Answer:
monitor role
Explanation:
According to my research on different managerial roles, I can say that based on the information provided within the question in this scenario Loretta is illustrating the monitor role in management. This role focuses on traveling and finding information related to the organization or industry that you are a part of in order to implement changes and innovation with new ideas.
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