1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Kitty [74]
2 years ago
5

The business earns $700 of consulting revenue. How would these earnings affect the total equity of a business?a. Liabilities are

decreased, so total equity is increased.b. Revenues would be decreased, so equity would be decreased.c. Revenues would be decreased, so equity is increased.d. Revenues increase, so total equity is increased.
Business
2 answers:
Sliva [168]2 years ago
3 0

Answer:

d. Revenues increase, so total equity is increased.

Explanation:

Consulting Revenue of $700 will increase the total revenue of the business and total equity of the business as the revenue will increase the net profit which will ultimately be added to the equity balance. Increase in revenue will result in increase in equity and Increase in expenses will decrease the equity.

Anna11 [10]2 years ago
3 0

Answer:

The correct answer is letter "D": Revenues increase, so total equity is increased.

Explanation:

Equity represents ownership. Equity is one of the three principal asset classes. The other two are fixed income and cash. Equity is the value of a business or property after its debts and liabilities are paid. When talking about accounting, <em>increases in income raises the firm's equity</em>.

Thus, <em>if a company earns $700 after a service rendered, that income will increase the company's equity.</em>

You might be interested in
Lynn Bernerd, Inc., manufactures and sells reclining furniture. The company currently operates in the United States but wishes t
xeze [42]

Answer:

E) Trading company

Explanation:

In international trade, trading companies are basically wholesalers that work at an international level. They usually purchase products from different businesses and then resell them to local retail businesses or sometimes final consumers (less common). Trading companies generally enter a exclusive distribution agreement with the manufacturer per region or country that they operate in.

3 0
3 years ago
Malcolm is a professional writer. He has already published many best-sellers. One of his friends expressed interest in knowing m
maxonik [38]

Answer:

Malcolm is a professional writer. He has already published many best-sellers. One of his friends expressed interest in knowing more about his writing process, so Malcolm showed his friend a few of his first drafts. The friend observed that the drafts were nothing like the final book, and the writing seemed amateurish compared to Malcolm's published work. When asked about it, Malcolm said that it was the normal way of things. In this scenario, the following is the reason of this:

A) ​Malcolm would have revised his work many times before he was satisfied with it.

Explanation:

  • The option A is best reason because generally a writer doesn't break his or her flow while writing and that is what Malcolm would have done. After, he would have revised his work many times until he was satisfied.
  • The option B is not correct as it is not possible to change the book of a writer entirely by the publishing company.
  • The option C is also incorrect as the drafts were not long and cohesive because his friend found the draft amateurish but not perfect.
  • The option D is incorrect as it is not true that writers only create first draft and other people produce all other subsequent drafts.

4 0
3 years ago
During the month of May, a company performed $2,400 of cash services and $3,300 of services on account. The journal entry at the
Tanya [424]

Answer:

Debit : Cash  $2,400

Debit : Account Receivables $3,300

Credit : Revenue $5,700

Explanation:

Revenue is recognized when a firm transfers the control of goods or services not when paid.

So this journal must both recognize the Assets in Cash and Assets in Trade Receivables since control for the services has already been transferred.

The journal entry at the end of the month to record this transaction would be :

Debit : Cash  $2,400

Debit : Account Receivables $3,300

Credit : Revenue $5,700

3 0
2 years ago
What is the difference in having da juice, or having the sauce?
Goryan [66]
Juice is good but i don’t even care what the flavor of it so it was a nice touch it fr sauce poop
6 0
3 years ago
Which of the following statements is the most accurate? Sole proprietorships are well suited for people who want to own a busine
emmasim [6.3K]

Answer:

D. Sole proprietorships are taxed at the owner's personal tax rate

Explanation:

Sole Proprietorship can be defined as a simplest form of owning and starting any business. As the term suggests, this business is onwed by an individual only or shared by married couples.

Sole properietorship is easy to set up because the owner need not to register itself to state government, therefore, because of absence of governmental involvement, it is easy to set up or deconstruct sole proprietorship.

<u>From the given options, the statement which is most accurate about a sole proprietorship is option D. The owner of sole proprietorship pays personal taxes on the profits earned by his/her business.</u>

Therefore, option D is correct.

3 0
3 years ago
Other questions:
  • __________ includes an owner registration form with its products. It asks customers for their names, addresses, phone numbers, b
    7·1 answer
  • Read the sentences. i was so excited for school to end and for summer vacation to begin. my grandpa and i were going to begin bu
    14·2 answers
  • In Year 1, the actual budget deficit was $200 billion and the standardized deficit was $150 billion. In Year 2, the actual budge
    15·1 answer
  • The monetary base is equal to
    5·1 answer
  • Nathaniel is a manager at Mauve Inc He trains his team members to communicate effectively with customers in order to generate sa
    9·1 answer
  • A software engineer believes that if she can complete her current project on time she will get her much awaited promotion to the
    9·1 answer
  • An externality arises when a firm or person engages in an activity that affects the wellbeing of a third party, yet neither pays
    10·1 answer
  • What is large office​
    14·1 answer
  • Overzealous pursuit of wealth, pressure to exceed performance standards, and a culture that values profits more than ethical beh
    14·1 answer
  • Lily Products Company is considering an investment in one of two new product lines. The investment required for either product l
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!