All transactions b. affect assets, liabilities, and/or stockholders' equity, and d. must affect both assets and stockholders' equity.
<h3>What is the accounting equation?</h3>
The accounting equation shows that assets are equal to liabilities and equity.
The implication of the accounting equation is that every transaction has at least two effects on the elements of financial statements, given their linkages.
Thus, the correct options are Options B. and D.
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Answer:
Yes, because all three were equal partners in the said business and when the decision was to be made, a greater majority (Bill and Heidi) voted in favor of getting the loan.
Dutch also is thus, liable for the said loan. He ought to have opted out of the partnership if he was dead serious and he would have gotten a fair share of dividends from the said partnership and left the duo to work together
Answer:
30%
Explanation:
The computation of the profit margin is shown below:
Given that
Net income earned for the month of October = $3,000
And, the net sales for the month of October is $10,000
Based on the above information, the profit margin is
= Net income ÷ Net sales
= $3,000 ÷ $10,000
= 30%
By dividing the net income from the net sales we can get the profit margin and the same is to be considered
Answer:
a. Cash receipts from customers.
Statement of cash flows: Operating activity
b. Issuance of common stock for cash
Statement of cash flows: Financing activity
c. Payment of cash dividends
Statement of cash flows: Financing activity
d. Cash purchase of equipment
Statement of cash flows: Investing Activities
e. Cash payments to suppliers
Statement of cash flows: Operating activities
f. Sale of old machine for cash
Statement of cash flows: Investing Activities
