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3 years ago

Mary invested cash in her new business. which effect will this have?

Business

2 answers:

marishachu [46]3 years ago

7 0

The Correct Answer is D) Increase an asset; Increase owners equity

Explanation:

Cash is recorded as a 'Current Asset'. When Mary invested cash in her new business, her 'Current Assets' increased by the amount of cash she invested.

Assets = Liabilities + Equities

In order to balance the above equation, an increase in Assets would result in an increase in the equity with equal proportion.

For Example, Mary invested $1 Million in her new business. The assets and owners equity would increase by $1 Million each.

Licemer1 [7]3 years ago

6 0

Either A or C would be right, because it couldn't be a decrease of the equity.

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Which of the following forms of business organizations does not have the pass-through feature of income and losses? a. partnersh

Sauron [17]

Answer:

c. corporation

Explanation:

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A corporation is expected to file its income tax returns at the end of every financial year. The owners of a corporation or its shareholders are also expected to file their separate income tax returns. An element of double taxation arises the business is taxed, and the owners are also taxed separately. In the other form of business ownership, the business incomes pass as owner's income resulting in single taxation.

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3 years ago

Compare and contrast modern workplace, social, and environmental ethical dilemmas in the hospitality industry.

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2 years ago

Anderson Corp. began the period with $200 of supplies. During the period, $500 of supplies were purchased. At the end of the per

IgorLugansk [536]

Answer:Amount of supplies used =$400

Explanation:

Beginning balance of supplies $200

Supplies purchased $500

Ending supplies balance on hand $300

Amount of supplies used = Beginning balance of supplies + Supplies purchased - Ending supplies balance on hand

= $200 +$500 - $300

= $400 is amount of the adjusting entry to record the amount of supplies used in Anderson Corp.

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3 years ago

Your immediate supervisor is a nice person. He helps you solve your problems and gives valuable advice. You admire your supervis

ryzh [129]

Answer:

(E)

Explanation:

Referent power is effective in any form of business activity. It is something which inspires the employees and to see their managers as a role model. In the above example, my supervisor has referent power over me because I consider him my role model. Some supervisors have certain interpersonal skills which help them to become a role model and a good manager.

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3 years ago

Phips Co. purchases 100 percent of Sips Company on January 1, 20X2, when Phips' retained earnings balance is $320,000 and Sips'

Taya2010 [7]

Answer:

Phips' post-closing retained earnings balance on December 31, 20X2 = $577,000

Explanation:

Note: When 100% shares of a company is acquired it is treated as subsidiary and for its accounting equity method is used.

In that case all balances of subsidiary are added to balances of Parent company.

But if any dividend is received then such value is deducted from carrying value of investment, and any share in profit will be added to carrying value.

All the retained earnings balance is accumulated together of both companies.

Therefore closing balance shall be

Retained earnings balance of Sips at year end

= $120,000 + $20,000 - $8,000 = $132,000

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= $320,000 + 125,000 = $445,000

Total Retained Earnings at year end = $132,000 + $445,000 = $577,000

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3 years ago