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Ipatiy [6.2K]
3 years ago
13

Which transaction has no effect on owners equity

Business
2 answers:
BARSIC [14]3 years ago
6 0
The correct answer to your question is "Equipment purchase"
Alexxx [7]3 years ago
5 0
Is there a set of answers that's suppose to go with this questions? If so, could you put them please? 
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Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company
Charra [1.4K]

Answer:

Owners have limited liability.

Explanation:

A corporation is an entity , established by shareholders or individuals with the aim of making profit. It is a legal entity hence can enter into a contract, can also sue and be sued.

The legal process involved in the establishment of corporation is called incorporation. It contains the main reason why the corporation is in business, name and office address, types and number of shares to be issued.

Because the business is incorporated and also a legal entity, it means that the owners are protected personally should their be any litigation against the corporation. Moreover, the liability of the owners are limited to the investment in the corporation.

6 0
3 years ago
What is an example of a general safety hazard?
Ket [755]

Answer:

poorly maintained equipment

5 0
2 years ago
Read 2 more answers
If a person deposited $50 a month for 6 years earning 8%, this would involve what type of computation?
Elenna [48]
C. Future value of a series of deposits

It is not B, because although Future Value of a Single Amount (FV) is similar, it is only when you deposit a certain amount one time and let it grow in value. 
Your question says they deposit money more than once, so it is C.
5 0
3 years ago
Read 2 more answers
Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricat
Nataly [62]

Answer:

$2.90 per unit

Explanation:

The computation of the cost per equivalent unit of conversion is attached below:-

The formulas are shown below:-

Equivalent material = Direct material × Percentage completion

Equivalent conversion = Conversion × Percentage completion

The cost per equivalent unit come from

= Total cost ÷ number of equivalent units

hence, the cost per equivalent unit of conversion is $2.90 per unit

8 0
3 years ago
On December 31, 2017, Extreme Fitness has adjusted balances of $870,000 in Accounts Receivable and $69,000 in Allowance for Doub
kondaur [170]

Answer: The amount the company would report as its net accounts receivable at 31 December 2017 is $801,000.

Explanation: Net accounts receivable is the recoverable amount of receivable after considering the amount that is deemed to be uncollectible. It is accounts receivable balance minus the allowance for doubtful accounts.

In the instance of this question, the net accounts receivable was initially $801,000 ($870,000 - $69,000). Now that management approved a write-off of $17,000, the implication is that the write-off would hit allowance for doubtful account (since there is a buffer in that account instead of bad debt expense), and the necessary accounting entries to be recorded would be: <em>Debit Allowance for doubtful accounts $17,000; Credit Accounts Receivable $17,000. </em>With these entries, both accounts receivable and the allowance for doubtful accounts would be reduced by the same account. Consequently, the net accounts receivable remains the same but the individual balances in accounts receivable and allowance for doubtful account would now be $853,000 ($870,000 - $17,000) and $52,000 ($69,000 - $17,000).

5 0
3 years ago
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