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Liula [17]
3 years ago
12

Presented below are three economic events. In each column, indicate whether the event increased, decreased, or had no effect on

assets, liabilities, and stockholders’ equity.
Assets Liabilities Stockholders’ Equity
(a) Purchased supplies on account. Entry field with incorrect answer DecreasedNo EffectIncreased Entry field with correct answer IncreasedNo EffectDecreased Entry field with incorrect answer DecreasedIncreasedNo Effect
(b) Received cash for providing a service. Entry field with correct answer IncreasedNo EffectDecreased Entry field with correct answer IncreasedNo EffectDecreased Entry field with incorrect answer No EffectIncreasedDecreased
(c) Expenses paid in cash. Entry field with incorrect answer IncreasedDecreasedNo Effect Entry field with incorrect answer DecreasedNo EffectIncreased Entry field with correct answer IncreasedDecreasedNo Effect
Business
1 answer:
Alex17521 [72]3 years ago
5 0

Answer:

(a) Purchased supplies on account.

Increase assets and liabilities

(b) Received cash for providing a service.

Increase assets and equity

(c) Expenses paid in cash.

Decrease assets and equity

Explanation:

(a) The company acquire an assets but to do so; it take a liability. In the future it will be forced to pay the credit given today

(b) The company receive an assets(cash) by prvoviding services which is the main activity. The equity represebt both, the owner investment and the earning of the business. In this case this is an earning so it increase equity

(c) The rgannizatioon used an asset to afford their obligation. This is a negative result thus; equity decrease

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Answer: Top managers.

Explanation: Top managers examples are board of directors, president, vice-president, and CEO. These managers are duly responsible for controlling and overseeing the entire organization. They set and develop goals, strategic plans, company policies, and make decisions on the direction of the business. These top managers are responsible for controlling and overseeing the entire organization with the aim of achieving organization goals.

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3 years ago
Which phrase best describes a country's monetary base?
vampirchik [111]

Answer: all money in circulation throughout the economy

Explanation: apex

3 0
3 years ago
On March 10, 2019, Dearden, Inc., purchased 11,200 shares of Jaffa stock for $47 per share as a long-term passive investment. De
olasank [31]

Answer:

Dearden, Inc.

Journal Entries to record the transactions:

March 10, 2019:

Debit Investment in Jaffa $526,400

Credit Cash $526,400

To record the purchase of 11,200 shares at $47 per share.

December 31, 2019:

Debit Loss on Investment $22,400

Credit Investment in Jaffa $22,400

To record the loss on investment from $47 to $45 per share.

December 31, 2020:

Debit Investment in Jaffa $33,600

Credit Gain on Investment $33,600

To record the gain on investment from $45 to $48 per share.

December 31, 2021:

Debit Loss on Investment $44,800

Credit Investment in Jaffa $44,800

To record the loss on investment from $48 to $44 per share.

September 12, 2022:

Debit Loss on Investment $22,400

Credit Investment in Jaffa $22,400

To record the loss on investment from $44 to $42 per share.

Debit Cash Account $470,400

Credit Investment in Jaffa $470,400

To record the sale of the investment in Jaffa at $42 per share.

Explanation:

For Dearden, Inc. journal entries are recorded on the acquisition date to record the purchase of the investment in Jaffa.  Records are also made every December 31 to record the movements in the share price of the investment.  Finally, on the date of disposal, records are also made to record the sale of the investment.

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3 years ago
Describe where you are in life right now. What makes you most excited about where you are now? What questions do you have, and w
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You say: “I'm excited to see there's a lot of opportunity to use advanced computer skills in this position. Being able to build my skills and continue to develop in a growing company is important to me, and there seems to be long-term opportunities here.”
5 0
3 years ago
Read 2 more answers
The current USD/euro exchange rate is 1.4000 dollar per euro. The six month forward exchange rate is 1.3950. The six month USD i
Zigmanuir [339]

Answer:

the six month euro interest rate is 1.36%

Explanation:

Spot exchange rate: 1.4 USD/ EUR

6 month forward rate: 1.3950 USD/EUR

Domestic interest rate: 1% pa

Foreign interest rate: the six month euro interest rate?

We have the formula:

Forward rates =  Spot rate * (1+domestic interest rate)/(1+foreign interest rate)

⇔ 1.3950 = 1.4 *(1+1%)/(1+foreign interest rate)

⇔ 1+foreign interest rate = 1.4 *(1+1%)/1.3950

⇔foreign interest rate = 1.01362 - 1 = 0.01362

⇒ the six month euro interest rate is 1.36%

7 0
3 years ago
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