Answer:
ABC Daycare
Effect of Performing Plumbing Services on account on the Accounting Equation:
Assets (Accounts receivable) will increase by $565 and Equity (Retained Earnings) will equally increase by $565
Explanation:
a) Data and Analysis:
Accounts receivable $565 Service Revenue $565
The accounting equation that equals assets to liabilities and equity is always true at all times and with every correctly posted transaction. It implies that assets are financed through the contributions made by either the owners (equity) or the creditors (debts), or a combination of the two. This equation forms the basis for the double-entry system of financial accounting.
Answer: Account manager
Explanation: The account manager is that salesman of a company who is responsible for managing sales and relationship with particular customers of the company. The account manager is assigned accounts of customers of which he has to maintain relationships with.
The main focus of account manager is to manage sales with customers and identify new business opportunities if any.
Thus, Account manager is the right answer for the given case.
Answer:
A) licensing
Explanation:
Based on the information provided within the question it can be said in this scenario the alternative that is being illustrated is known as licensing. This term refers to an agreement in which one business gives permission to another to be able to use the first company's patented product. Which in this scenario is a multi-screen table.
<span>Under agency law, Michelle can work as Kim's agent in the purchase of the contract. Kim would be the principle under the contract, Michelle would be the agent, and the gallery would be the 3rd party. Kim needs to authorize Michelle to complete a contract on his behalf and he will in turn be bound, just as the gallery will be bound.</span>
Answer:
C.Accounting Identity is: Assets equivalentLiabilities + Owners' Equity.
Explanation:
In accounting identity all variables must balance, if they do not balance according to the equation then there must be an error in formulation, measurement or calculation.
The basic assumption in accounting identity is that the balance sheet must balance. That is assets must be equal to a sum of liabilities and owner's equity.
Asset= Liabilities+ Owners Equity.
This relationship is based on the convention of double entry, for every debit there is an equal credit.
