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
Phoenix [80]
3 years ago
12

During the year, Bassett Company paid a total of $58,000 for inventory. In one transaction, Bassett sold inventory that had cost

the company $1,400 for $4,300 on accounts receivable. How much did total assets increase (decrease) as a result of this one transaction?
Business
1 answer:
a_sh-v [17]3 years ago
6 0

Answer:

$2,900 Increase

Explanation:

Considering the transaction

  • Bassett sold inventory that had cost the company $1,400 for $4,300 on accounts receivable - Here, inventory reduces by $1,400 while accounts receivable increase by $4,300. This leaves a net impact of $2,900 (4300-1400) on total assets.

Hence the results of this one transaction is an increase of total assets by $2,900.

You might be interested in
In March, Stinson Company completes Jobs 10 and 11.
mario62 [17]

Answer:

The journal entries are as follows:

(i) On March 31,

Finished Goods A/c Dr. $56,400

           To Work in Process        $56,400

(To record the completion of the two jobs)

(ii) On March 31,

Cash A/c Dr. $38,000

  To sales                    $38,000

(To record the sale Job 10)

(iii) On March 31,

Cost of goods sold A/c Dr. $21,400

            To finished goods                 $21,400

(To record the cost of the job sold)

8 0
2 years ago
Necesito un susario de la uanl de aspirante con admisión rechazada
max2010maxim [7]

Answer:

ta bueno pue

Explanation:

6 0
3 years ago
The point when the company makes exactly enough money to pay for itself, without making extra as a profit, is the ____________ p
-BARSIC- [3]
The point when the company makes exactly enough money to pay for itself, without making extra as a profit is the C. Break even point

hope this helps
7 0
3 years ago
Read 2 more answers
The primary responsibility of the board of directors is to __________. Select one: A. oversee the affairs of the organization B.
Paladinen [302]

The primary responsibility of the board of directors is to (D) make daily operational decisions.(The main responsibility of a Board of Director is to make day-to-day management decisions. )

Explanation:

The main responsibility of a Board of Director is to make day-to-day management decisions. The primary purpose of the board of directors is to safeguard the shareholders interest by maintaining detached, impartial oversight on management.

Some of the duties of Board Members are:

  • To develop  the Organization's Mission and Purpose.
  • Another important duty is to Monitor and Manage Financial Resources.
  • To Recruit New Board Members.
  • To Spread positive word of mouth about t the Organization.

So we can Say that The primary responsibility of the board of directors is to (D) make daily operational decisions

4 0
3 years ago
What is the change due if a $5 bill is tendered for a charge of $4.21?
never [62]
What is the change due if a $5 bill is tendered for a charge of $4.21?

A.0.79

3 0
3 years ago
Other questions:
  • Which of the following is NOT one of the characteristics of reward and incentive systems? They represent an effective control me
    11·1 answer
  • A pattern of relationships and accountability between a superior and his or her subordinates is established by the process of:
    11·1 answer
  • The following information was reported in the December 31, 2012, financial statements of Southeast Airlines, Inc. (listed alphab
    15·1 answer
  • 4. The Mexican peso has weakened considerably relative to the dollar, and you are trying to decide whether this is a good time t
    8·1 answer
  • He balance shown in the August bank statement of Colt Company was $22,400. After examining the August bank statement and items i
    10·1 answer
  • Depreciation on the company's equipment for the year is computed to be $18,000. The prepaid insurance account had a $6,000 debit
    14·1 answer
  • Suppose that five years ago you borrowed $300,000 using a 30-year fixed-rate mortgage with an annual interest rate of 10% with m
    10·1 answer
  • Cash equivalents are securities that a.have maturity dates of 3 months or less. b.have maturity dates of at least 6 months. c.ma
    14·1 answer
  • When Alice started working, she has decided to deposit $250 a pay check into a savings account that earns an interest of 1% per
    5·1 answer
  • When workers perceive they are being treated fairly on the job, they are most likely to.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!