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Yuliya22 [10]
3 years ago
14

Michael Anderson is starting a computer programming business and has deposited an initial investment of $15,000 into the busines

s cash account. Identify how the accounting equation will be affected. a.increase in assets (Cash) and increase in owner's equity (Michael Anderson, Capital) b.increase in assets (Cash) and increase in liabilities (Accounts Payable) c.increase in assets (Cash) and increase in assets (Accounts Receivable) d.increase in assets (Accounts Receivable) and decrease in liabilities (Accounts Payable)
Business
1 answer:
Darina [25.2K]3 years ago
5 0

Answer:

a.increase in assets (Cash) and increase in owner's equity (Michael Anderson, Capital)

Explanation:

we solve this using the accounting equation

Assets = Liabilities + Equity

The cash would represent currency own by the company. That is the definition of assets. Something own by the company that either is cash or can be converted into cash in the future or help to provide an inflow of cash.

Now, as Asset increase by 15,000 the other side must also increase.

The company has no liability against the owner Thus this will be an equity account Which precisely, it represent the capital of the owners.

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What should you include in the opening of a direct claim letter? a. A justification of your request b. A clear statement of the
ololo11 [35]

Answer:

Hi

The answers are b) and c)

Explanation:

The letter of complaint is used to file a complaint or a claim about a product or service that has left us unsatisfied or does not correspond to the price as previously agreed. To make this type of letter you need to sort the ideas. This type of correspondence must be clear and concise. It should be clear to avoid useless preambles and explanations at all times and should go directly to the statement of the reason for the claim. Hints and allusions can only lead to confusion, as the recipient has to decipher what is so unclear in the complaint letter.

6 0
3 years ago
Clooney Corp. establishes a petty cash fund for $200 and issues a credit card to its office manager. By the end of the month, em
AURORKA [14]

Answer:

1.Dr Postage expense $47

Dr Delivery expense $72

Dr Supplies expense $37

Dr Entertainment expense $25

Cr Petty cash $181

2.

Dr Petty cash $181

Cr Cash $181

Explanation:

Preparation of the Journal entry to record all employee expenditures and the entry to replenish the petty cash fund.

1.Since we were told to record all employee expenditures this means that the employee expenditures Journal entry will be recorded as:

Dr Postage expense $47

Dr Delivery expense $72

Dr Supplies expense $37

Dr Entertainment expense $25

Cr Petty cash $181

($47+$72+$37+$25)

2. Since we were told to record the entry to replenish the petty cash fund, this means that the petty cash fund will be recorded as:

Dr Petty cash $181

($47+$72+$37+$25)

Cr Cash $181

8 0
4 years ago
Which of the following best describes the primary reason for implementing a new information system, from a
lisabon 2012 [21]

Answer:

i think it is c

Explanation:

sorry if wrong

7 0
3 years ago
A company issued 260 shares of $100 par value common stock for $31,000 cash. The total amount of paid-in capital in excess of pa
Lelu [443]

Answer:

The total amount of paid-in capital in excess of par is: $5,000.

Explanation:

When Common Stocks are classified as par value Stocks, any price paid in excess of the par value of the Stock is accounted for in the Share Premium account.

<u>Here is the Summary of the Transaction provided.</u>

Common Stocks : 260 shares × $100 = $26,000

Paid-in capital in excess of par : $31,000 - $26,000 = $5,000

5 0
3 years ago
You are trying to get a group of students interested in forming an organization to help fight fee increases at your college. Unf
Studentka2010 [4]

Answer:

The correct action is the option B: Don't talk about taking action. Instead, get to know your team members better.

Explanation:

To begin with, if the person is trying to create a group that is involved in the situation and works together then the best option to take at the beginning would be to get to know them better, so in that way the person would understand them and know what motivates each one the members in order to make them understand as well why would be benefitial for everybody to fight the fee increases and he can do that by explaining to everyone how those increases would impact in what motivates them the most. So that is why, is better to understand them and explain them later how to take action.

3 0
3 years ago
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