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4 years ago

Cool Taste Company purchased $1,500 of supplies with cash. What effect does this transaction have on the accounting equation?

Business

1 answer:

Brrunno [24]4 years ago

5 0

Answer:

None

Explanation:

This transaction has a nil effect on the accounting equation.

The accounting equation is as given below;

Assets = Liabilities + Equity

The purchase of supplies with cash is a credit to cash and a debit to inventory. This represents a decrease in one asset and an increase in another of the same amount.

Hence no change happens to the equation.

The liabilities and equity account are not affected by the transaction.

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3 years ago

Does a local businesses will profit from providing monthly or weekly invoices to their consumers?

k0ka [10]

Answer:

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3 years ago

Diaz Company owns a machine that cost $125,500 and has accumulated depreciation of $91,800. Prepare the entry to record the disp

natta225 [31]

Answer:

Accumulated Depreciation $91,800

Loss on Disposal $33,700

Machine Account $125,500

Cash $35,000

Accumulated Depreciation $91,800

Profit on Disposal $1,300

Machine Account $125,500

Cash $68,000

Accumulated Depreciation $91,800

Profit on Disposal $34,300

Machine Account $125,500

Cash $80,000

Accumulated Depreciation $91,800

Profit on Disposal $46,300

Machine Account $125,500

Explanation:

The situations were missing which were as follow:

1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return.

2. Diaz sold the machine for $35,000 cash.

3. Diaz sold the machine for $68,000 cash.

4. Diaz sold the machine for $80,000 cash.

Journal Entries are made according to these.

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3 years ago

The inflation premium: A. increases the real return. B. is inversely related to the time to maturity. C. remains constant over t

krok68 [10]

Answer:

The answer is E. compensates investors for expected price increases.

Explanation:

Inflation premium arise from that, investors holding nominal assets

are exposed to unanticipated changes in inflation.

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4 years ago

What is the maximum fine for a willful or repeat OSHA violation? a. up to $12,600 per day b. up to 10% above $126,000 c. $70

crimeas [40]

Answer:

C) $70,000

Explanation:

The US Department of Labor has established a range of fines that can be imposed on an employer who willfully or repeatedly violates any OSHA requirement, standard, rule or order. This range of fines starts with a minimum of $5,000 and up to a maximum of $70,000.

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3 years ago