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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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Deposits in transit Select one: a. have been recorded on the company's books but not yet by the bank. b. have not been recorded
mojhsa [17]

Answer:

a. have been recorded on the company's books but not yet by the bank

Explanation:

The deposit in transit means the deposit is recorded in the book of the company accounts but the same is not recorded in the bank books of account unless when they are not deposited.

So while preparing the bank reconciliation statement, we added the deposit in transit and deduct the outstanding checks in the bank books of accounts    

7 0
4 years ago
Bhat and Cho do business as Data Security, a partnership. In most states, for the purposes of collecting judgments and having ac
AnnZ [28]

The fact that the business that Bhat and Cho do as Data Security, means that for the purpose of collecting judgements and having accounting performed, most states would treat the firm as an <u>independent entity.</u>

<h3>What is an independent entity?</h3><h3 />

An independent entity is one that does not get counted along with the assets of its owners or partners. In other words, it is independent of the affairs of its owners and is treated as having its own identity.

In this case, the Data Security partnership that Bhat and Cho have will be treated as a separate entity from them which makes it an independent entity.

This is purely for the purpose of collecting judgement and having proper accounting records kept. And even at that, not all states in the United States will require this.

In conclusion, this is an independent entity.

Find out more types of entities at brainly.com/question/9993254

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4 0
2 years ago
Selling goods in a foreign country includes non legal considerations for:
Ugo [173]

C. Local customer group's concerns

The other two options are legal considerations of operating in a foreign country. Tariffs are taxes which require payment to comply with law.

6 0
3 years ago
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Complete the following table by indicating whether or not each scenario is an example of price discrimination. A local boutique
padilas [110]

Answer:

Consider the following calculations

Explanation:

1. No price discrimination.The shop is not charging different price for different quantities.

2. Price discrimination as only last minute tickets can be purchased as a discounted price and are only for seats not to be sold at the performance day.

3 0
4 years ago
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shutvik [7]

Answer:

Jane's total cost is $60,000.

Explanation:

This is because of the phenomenon called Opportunity Cost.

Simply put, opportunity cost is the cost of the next best alternative use of resources when a choice is made at the detriment of another.

We can also define it by saying, Opportunity Cost is the forgone alternative.

So we know she spent $50,000 to start her business, but would have made 10% of $100,000 which is $10,000 which is the opportunity cost, she has incurred a total cost of $60,000.

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3 years ago
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