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3 years ago

Slim purchases equipment with cash. The accounts affected are:____.

Business

1 answer:

Akimi4 [234]3 years ago

5 0

Answer:

Option B, Cash and equipment, is the right answer.

Explanation:

Option “B” is correct because the purchase of equipment shows that the Equipment account debit and cash account credit. Here the debit of equipment account shows that the equipment has been increased and the cash account credit means the cash has been decreased. Therefore, both accounts, cash, and equipment will be affected. The equipment account will be increased while the cash account will be decreased.

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Solve 2x + 0.03x = 255

Xelga [282]

Answer:

$\frac{25500}{3}$

8 0

4 years ago

Mia has an investment that is worth $12,000 after 4 years. If the initial investment was $8,000, what is the annual simple inter

Alexus [3.1K]

Answer: 12.5 %

Explanation:

Hi, to answer this question we have to apply the simple interest formula:

I = p x r x t

Where:

I = interest (investment after interests - principal; 12000-8000=4000)

P = Principal Amount (initial invest)

r = Interest Rate (decimal form)

t= time

Replacing with the values given

4,000= 8,000 (x) 4

Solving for x :

4,000= 32,000x

4,000/ 32,000 =x

x= 0.125

Since the interest rate is in decimal form, we have to multiply it by 100 to obtain the percentage.

0.125 x 100 = 12.5 %

Feel free to ask for more if needed or if you did not understand something.

6 0

3 years ago

A reversing entry is ________. Group of answer choices a journal entry used to close the temporary accounts after preparation of

quester [9]

Answer:

The correct answer is the third option: a special journal entry that eases the burden of accounting for transactions in the next period.

Explanation:

To begin with, a reversing entry is the name given to a special journal entry in the accounting areas that focus on the action of reversing selected entries made in the inmediately preceding period in order to correct common human mistakes. Therefore that this type of entry has the intention of easing the burden of accounting for transactions in the next period by just noticing that is being used in the journal.

3 0

3 years ago

How are most travel itineraries arranged?

bekas [8.4K]

Event by event so you know the schedule

4 0

3 years ago

1. The following are categories of accounts reported in the financial statements: A. Current Assets E. Long-Term Liabilities B.

kondaur [170]

Answer:

E, B, D, C, A, G, H, F

Explanation:

Bonds Payable - Long-term liabilities

Buildings - Fixed assets

Accrued Liabilities - Current liabilities

Intangibles - Intangible assets

Inventory - Current assets

Unearned Rent Revenues - Revenue; advanced paid rentals

Accumulated Depreciation - Expense

Retained Earnings - Stockholder's equity

3 0

3 years ago