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
Vikki [24]
3 years ago
6

Alpha Company has assets of $620,000, liabilities of $260,000, and equity of $360,000. It buys office equipment on credit for $8

5,000. What would be the effects of this transaction on the accounting equation?
Business
1 answer:
Sliva [168]3 years ago
3 0

Answer: Increase in assets and increase in liabilities.

Explanation: As we know that accounting equation is denoted as :-

Assets = capital + liabilities

where,

. Assets are the resources owned by the firm for the generation of revenue.

. Capital means the funds procured by company in the form of contribution        by the owners or in the form of debt.

. Liabilities are the obligations on the company.

.

Purchase of office equipment on credit will result in increase in assets as office equipment is used for administration purposes and as it is purchased on credit it will also increase its liabilities.

You might be interested in
Percy works two part-time jobs to help pay for college classes. On Monday, he works 3 hours at the library and 2 hours at the co
shepuryov [24]

There are numerous types of part time jobs are available nowadays in order to earn money for the qualified workers. People can earn through part-time jobs without quieting their full-time opportunities.

<h3>How much does Percy earn each hour? </h3>

Correct option is C.

For the answer to the two questions above,

3x + 2y = 36.50.... (1)

2x + 5y = 50..... (2)

Then, Eliminating x from the two equations by subtraction:

First we multiply equation 1 by 2 and equation 2 by 1.

6x + 4y = 73

6x + 15y = 150

After that, Subtracting the two,

-11y = -77

y=-77/-11

y = 7

He earns $7 at the coffee cart.

Then, Substituting y into equation 1,

3x + 14 = 36.5

3(7)+14=36.5

x = $7.50

Therefore, he earns a greater wage of $7.50 at the library.

Learn more about part-time jobs, refer to the link:

brainly.com/question/919744

6 0
2 years ago
Concord Company purchased equipment for $25200 on December 1. It is estimated that annual depreciation on the equipment will be
Ray Of Light [21]

Answer:

Debit Depreciation Expense, $525;

Credit Accumulated Depreciation, $525.

Explanation:

Based on the information given in a situation where the financial statements are to be prepared on December 31, which means that the company should make the following adjusting entry:

Debit Depreciation Expense, $525

Credit Accumulated Depreciation, $525

Calculated as:

Debit depreciation expense $6,300/12

Debit depreciation expense=$525

7 0
3 years ago
Which of the following best describes why German firms were nationalized after World War II?
Akimi4 [234]

Answer:

<u>D. Happenstance.</u>

Explanation:

The fact that German firms were nationalized has often been regarded as mere happenstance; meaning it just occurred based on the circumstances they were in immediately after World War II.

It thus encompasses several factors such as the cost of operations, changes in government, etc, not just one factor.

3 0
3 years ago
Examples of company-wide applications, called legacy applications, include order processing systems, payroll systems, and compan
arlik [135]

The given statement "Examples of company-wide applications, called legacy applications, include order processing systems, payroll systems, and company communications networks" is False.

<h3>What is an enterprise application?</h3>
  • A big software system platform known as an enterprise application (EA) is intended to run in a corporate setting, such as a business or government. EAs are mission-critical, complicated, scalable, distributed, and based on components.
  • For instance, Salesforce is a platform for customer relationship management that links teams in sales, marketing, commerce, and customer service.
  • Microsoft Office 365 is a productivity cloud that includes Word and Excel as well as additional programs for device management, security, and other things.

Learn more about the enterprise application with the help of the given link:

brainly.com/question/15700448

#SPJ4

6 0
2 years ago
A perfectly competitive firm, with MC=q operates in a market character,zed by the following market demand and supply conditions:
PolarNik [594]

Answer:

Since a perfectly competitive firm must accept the price for its output as determined by the product’s market demand and supply, it cannot choose the price it charges. Rather, the perfectly competitive firm can choose to sell any quantity of output at exactly the same price. This implies that the firm faces a perfectly elastic demand curve for its product: buyers are willing to buy any number of units of output from the firm at the market price. When the perfectly competitive firm chooses what quantity to produce, then this quantity—along with the prices prevailing in the market for output and inputs—will determine the firm’s total revenue, total costs, and ultimately, level of profits.

6 0
3 years ago
Other questions:
  • In a financial statement audit performed following AICPA Professional Standards, how frequently must an auditor test operating e
    8·1 answer
  • A company that is organized by both product and function is using ________ organization.
    7·2 answers
  • Market positioning is done so that the target customers have an understanding of the product offered by the company in compariso
    5·1 answer
  • Which best describes the effect of outsourcing on the labor market in the United States
    7·1 answer
  • Assume all excavators delivered in 2018 are delivered at year end, calculateTGX’s 2018 revenue based on the transactions describ
    14·1 answer
  • Tom oversees the logistics department for a holiday resort in Virginia. He has created a plan to bring in customers directly fro
    9·2 answers
  • You just won a lottery prize of $95,000. While you plan to use some of the sum to pay off your student loans, you would like to
    8·2 answers
  • Accounts Receivable Analysis A company reports the following: Sales $1,182,600 Average accounts receivable (net) 43,800 Determin
    15·1 answer
  • Identify 3 advantage of sales promotion
    14·1 answer
  • Prepare an income statement for Jay Pembroke for the month of April 20xx using the account balances given below. Cash $13,561 Ac
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!