Answer:
The answer is stated below:
Explanation:
The accounting equation is as follows:
Assets = Liabilities + Stockholders' Equity
Analyzing the transactions:
1. The service is provided to customer on account, which result in increase in assets and the stockholders' equity
So,
Assets = Liabilities + Stockholders' equity
+ $4,000 = $0 + +$4,000
2. The equipment is purchased by signing a note, which result in increase in liability and also increase in the assets.
So,
Assets = Liabilities + Stockholders' equity
+ $10,500 = +$10,500 + $0
3. Paid for the advertising, which result in decrease in cash as well as decrease in the equity of the company.
So,
Assets = Liabilities + Stockholders' equity
- $1,200 = $0 + -$1,200
Answer: d. Cash Budget
Explanation:
The Cash budget is used to project the company's expected position in terms of the cash it holds in the future. As such, the budget contains both cash receipts and cash disbursements.
Some of the disbursements include expenses and loan payments. The loan payments are where the interest expense will be found for the coming year.
In a limited partnership, limited partners do not have the same rights as general partners to participate in management. This statement is true.
<h3>
What is a limited partnership?</h3>
A limited partnership is a type of partnership that is made up of general partners and limited partners. The liability of limited partners is limited to the amount invested in the business while the general partners have unlimited liabilities.
The limited partner cannot partake in the daily running of the business unlike the general partner.
To learn more about limited partnership, please check: brainly.com/question/9244934
#SPJ1
