Hargrave professional group performs legal services on account. The effect of this transaction on the balance sheet equation for Hargrave is Increase in assets.
<h3>What is Asset?</h3>
An asset is considered a resource of the business which has an economic value in the future of the business and helps business activities to take place smoothly.
Hargrave professional group performs legal services on account which reflects the Buying and sales of goods and services on credit. So this refers to the incoming cash in the business which indicates the effect of this transaction on the balance sheet equation for Hargrave is an Increase in assets.
Learn more about Asset, here:
brainly.com/question/14404094
#SPJ4
ans)
Total Assets (given) - Total Liabilities (given) = Total Stockholders' Equity (plug)
221066899 - 121082334 = 99984565
New stock issued = 75000 X 37.61 = 2820750
Total Stockholders' Equity (above) - New stock issued (above) = Old Stock
99984565 - 2820750 = 97163815
Total Assets / Total Stockholders' Equity = Leverage
221066899 / 99984565 = 2.21 or 2.7
Since this gives us the desired leverage figure, we can be confident of TA, TSE, and TL
True statements are:
1. Total liabilities = 121082334
2. Baldwin will issue stock totalling $2820750
3.Total Assets will rise to $221066899
Hope this helps you
Answer and Explanation:
The journal entry is given below;
a. Machine or equipment $6,500
To Accumulated depreciation ($6,500 × 3 ÷ 5) $3,900
To Retained earnings $2,600
(being the correction of the error is recorded)
b. Prepaid insurance Dr ($800 ÷ 4 × 2 ) $400
To Retained earnings $400
(being the correction of the error is recorded)
These two entries should be recorded to correct the given errors
Answer:
a. the creative tension between the two forces managers to develop more successful strategy.
Explanation:
It is correct to say that short-term and long-term strategies must be designed individually as the creative tension between the two forces managers to develop more successful strategies.
It is essential that in strategic planning the short-term and long-term action plans are well specified, so that the strategic development understands the organizational whole and the strategies are aligned, since the short-term actions will consequently impact those of long term.
