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
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

You might be interested in
Proton Corp. is an automobile manufacturer known for producing efficient, durable, and low-priced cars. Recently, the company la
deff fn [24]

Answer: Option (A)

Explanation:

Product Line stretching is referred to as an expanding technique undertaken by the organization under which the new commodities and services are released in the similar product line but further the ongoing product dimension with some of the different or additional features. The product line stretching at times can also tend to be down market or up market.

6 0
3 years ago
If the beginning inventory for 2017 is overstated, the effects of this error on cost of goods sold for 2017, net income for 2017
Elis [28]
The answer overstatement, understatement and no effect. In addition, the incapability to record a purchase of commodities on account even still the goods are properly comprised the physical inventory results in an underestimation of liabilities and an overemphasis of owners’ equity
7 0
3 years ago
martina advises her tax client, breslin baked goods, to disclose a matter by attaching a special form to its corporate tax retur
Maslowich

In  Case whereby martina advises her tax client, breslin baked goods, to disclose a matter by attaching a special form to its corporate tax return. breslin refuses and threatens to replace martina with another cpa what Martina should do under the tax profession's ethics standards is a) Consider whether to withdraw from the engagement and reevaluate the relationship.

<h3>What is  Ethical standards?</h3>

Ethical standards can be described as the set of principles established by the founders of the organization  so as to be able to  communicate its underlying moral values.

In conclusion, from the case above, she can withdraw from the engagement and reevaluate the relationship.

Therefore option A is correct.

Learn more about ethics at:

brainly.com/question/24606527

#SPJ1

missing options:

Martina advises her tax client, Breslin Baked Goods, to disclose a matter by attaching a special form to its corporate tax return. Breslin refuses and threatens to replace Martina with another CPA. Which statement best describes what Martina should do under the tax profession's ethics standards in this situation?

a) Consider whether to withdraw from the engagement and reevaluate the relationship.

b) Terminate the engagement and report Breslin to the IRS Office of Professional Responsibility.

c) Draft a memo for the files indicating that Breslin is a difficult client.

d) File the return in the manner specified by the client (without the disclosure).

7 0
1 year ago
Pattison Corporation is a service company that measures its output by the number of customers served. The company has provided t
allsm [11]

Answer:

Pattison Corporation

Activity Variance for "Travel expenses" for May would have been closest to:

$1,500 Favorable

Explanation:

Data and Calculations:

                           Fixed Element         Variable Element per  

                              per Month              Customer Served

Revenue                                                        $5,500

Employee salaries

 and wages            $46,300                         $1,000

Travel expenses                                             $ 500

Other expenses    $32,500

The Travel Expenses Activity Variance = Actual cost minus budgeted cost

= $8,500 - $10,000

= $1,500 Favorable

Actual travel expenses = ($500 x 17)

= $8,500

Budgeted travel expenses =  ($500 x 20)

= $10,000

Pattison Corporation's activity variance for Travel Expenses for the month of May is the difference between the actual travel expenses and the budgeted travel expenses.  The budgeted expenses are based on budgeted number of customers served in May while the actual expenses are based on actual number of customers served in May.

6 0
3 years ago
XYZ corporation is an Indiana-based corporation and has 5 manufacturing plants. One of the corporation’s objectives is to have 1
iren2701 [21]

Answer:

No

Explanation:

Because the reason is that there are so many aspects that we should consider during risk management. So the information required comes from different sources, it can be competitor's financial statements to consider the difference on spending and efficiencies. Furthermore there are also some health and safety related issues, repair and maintenance costs analysis and other issues that the company risk manager would consider by relying on the information of manufacturing costs. So the recommendations for risk management is always reliance on wider sources of information.

8 0
3 years ago
Other questions:
  • Select the correct answer What is a cursor?
    13·2 answers
  • Suppose that a firm produces 10 units of output. Its Average Variable Cost (AVC) = $25, Average Fixed Cost (AFC) = $5, and Margi
    6·1 answer
  • 'As fewer people buy gym memberships, the demand for running shoes will decrease and the price of a pair of running shoes will i
    9·1 answer
  • Which of the following is true concerning temporary and permanent accounts?A. Cash is a temporary accountB. Permanent accounts r
    11·1 answer
  • Glenn sells a piece of equipment used in his business for $31,500 during 2019. The equipment was purchased on July 1, 2017, at a
    5·1 answer
  • R. J. Graziano Wholesale Corp. uses the LIFO method of inventory costing. In the current year, profit at R. J. Graziano is runni
    8·1 answer
  • What criteria must your employer-provided PPE meet?
    7·1 answer
  • ______ occurs when people are hired or promoted, or denied hiring or promotion, for reasons not relevant to the job
    14·1 answer
  • Riverbed Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Pre
    6·1 answer
  • Ken and Joe are out at a bar drinking. During the evening, Ken writes a note on a cocktail napkin agreeing to sell his car to Jo
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!