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4 years ago

The following transactions were completed by the company.

Business

1 answer:

vlada-n [284]4 years ago

5 0

Question Completion:

The impact on accounting equation:

Answer:

Assets = Liabilities + Equity

a. Cash +$6,200 = Liabilities + Retained Earnings + $6,200

b. Accounts Receivable +$4,700 = Liabilities + Retained Earnings + $4,700

c. Cash -$1,750 = Liabilities + Retained Earnings -$1,750

d. Cash + $2,350; Accounts Receivable -$2,350 = Liabilities + Equity

e. Cash - $840 = Liabilities + Retained Earnings -$840

Explanation:

The accounting equation states that Assets = Liabilities + Equity. This equation means that every business transaction has effect on either side or both sides of the equation. For every transaction, the Assets are increased or decreased and Liabilities + Equity are increased or decreased. And sometimes, only one side is affected by a transaction. This means that the affected side is increased and decreased by one transaction. Case "d" is typical example.

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4 years ago

Suppose you plan to take summer courses. The cost of tuition and

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Answer:

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4 years ago

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Answer:

The correct answer is substitution bias.

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