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
Alja [10]
3 years ago
13

Tom’s T.V.’s sold one of their premium products, a new 60" flat screen 3D T.V. to a customer who paid $2,000 in cash. How would

the receipt of payment from this sale impact the accounting equation?
Business
1 answer:
nikdorinn [45]3 years ago
5 0

Answer:

Impact of $2,000 sale on accounting equation is as follow:

Accounting Equation

 Asset             =        Equity           +      Liabilities

Cash+2000        Sales+2,000            No Effect

As cash an asset for the business, so the receipt will increase the balance of assets of the company. The revenue is ultimately adjusted to equity in the form of net income after deducting all the expenses. This transaction will result in increase of equity balance by the sale amount.

Explanation:

The Following journal Entry will support my answer:

Sales amount = 2,000

As this transaction is made on cash basis the following Journal entry will be recorded for this event.

                   Dr.          Cr.

Cash       $2,000

Sales                    $2,000

You might be interested in
What kind of policy can a company implement that can help diminish the activity of sending unsolicited email?
klemol [59]

Answer:

anti-spam policy

Explanation:

Spam emails are unsolicited emails that are usually sent to a large number of people. Therefore, if the company is trying to reduce unsolicited emails (spam) it should carry out an anti-spam policy.

The problem with spam is that it creates a negative image of the company, since current or potential clients can get annoyed by receiving so many unsolicited emails with advertisements or promotions. Instead of helping the company, spam email damages its.

8 0
3 years ago
Least-Squares Regression [LO5-11] [The following information applies to the questions displayed below.] Bargain Rental Car offer
ycow [4]

Answer:

I used an excel spreadsheet to calculate this:

the least squares regression line:

y = a + bx

y = $2,752 + 3.87x

where y = total cash wash costs and x = rental returns

fixed costs = $2,752 per month

variable cost = $3.87 per car washed            

Download pdf
5 0
3 years ago
Buttner Company borrows $88,500 on September 1, 2014, from Harrington State Bank by signing an $88,500, 12%, one-year note.
oksian1 [2.3K]

Answer:

C.) $3,540

Explanation:

The loan borrowed is the Principal = $88,500

Interest rate per year = 12% or 0.012 as a decimal

Interest accrued formula = Principal * rate * time

Note: time will be from Sep1 - Dec 31 = 4 months or \frac{4}{12}years

Interest accrued = 88,500 * 0.012 * \frac{4}{12}

Interest accrued = 3,540

Therefore, as of December 31st, 2014, $3,540 would be the interest accrued hence choice C is correct.

4 0
3 years ago
All of the following statements about data mining are true EXCEPT1. the process aspect means that data mining should be a one-st
Romashka [77]

All of the following statements about data mining are true EXCEPT

the process aspect means that data mining should be a one-step process to results.

<u>Explanation:</u>

When you are in a need to find the patterns in a data set which is very large, then the process called data mining can be used. The methods like machine learning, database and statistics are used in finding patterns. Data mining helps in getting some useful information from a large set of data.

Hence, with the method of data mining we can discover the patterns that exists in a given data set and that are not known already. It helps in obtaining some useful information that can be utilized in various business aspects. It does not involve single step in finding patterns in data set and the patterns that are discovered with this data mining will be true which is its noble aspect.

5 0
3 years ago
Principals that manage an llc owe its members __________.
Whitepunk [10]

Answer:

Principals that manage an llc owe its members the duty of care.

Explanation:

The duty of care is a legal responsability that the manager has to be careful when performing any action that can cause damage to the members of an LLC. When the manager is not reasonably careful and cause any harm, it be considered negligence and this can have serious legal implications.

5 0
3 years ago
Other questions:
  • What can be done when parties are faced with moral differences that seem to be intolerable?
    7·1 answer
  • Show Boat Dinner Theatres has paid annual dividends of $0.32, $0.52, and $0.60 a share over the past three years, respectively.
    6·1 answer
  • A company reports the following information for its first year of operations:
    7·1 answer
  • The first step in transferring journal entry amounts to ledger accounts involves
    15·1 answer
  • Tyrell Company issued callable bonds with a par value of $24,000. The call option requires Tyrell to pay a call premium of $500
    15·1 answer
  • McBride’s Dairy has 200 gallons of heavy cream and 600 gallons of skimmed milk and has incurred $1,000 of joint costs at the spl
    6·1 answer
  • The employees of an organization have heard rumors about rapidly dropping profits and impending layoffs. The grapevine is abuzz
    14·1 answer
  • Discounted-cash-flow analysis focuses primarily on:___.
    8·1 answer
  • The company's wacc is 10. 5%. what is the irr of the better project? (hint: the better project may or may not be the one with th
    7·1 answer
  • When calculating the present value of multiple cash flows using a spreadsheet, you must:________
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!