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bogdanovich [222]
3 years ago
11

When cash is received from a sale, the total amount of both assets and owner's equity is increased.

Business
1 answer:
marshall27 [118]3 years ago
5 0

Answer:

a. True

Explanation:

In case when the cash is received from the sale, so here the total assets is increased i.e. rise in current assets that is cash account and the stockholder equity is also increased as the revenue is also increased which ultimately increased the equity

The journal entry is

Cash Dr XXXXX

         To Sales revenue XXXXX

(Being cash is received is recorded)

hence, the given statement is true

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belka [17]

Answer:

The correct Ending Balance = $ 390300

Explanation:

Ending Balance of inventory = $ 412500

Less Office Supplies   = $22,200

The correct Ending Balance = $ 390300

Goods already cosigned are the consignor's inventory unless they are sold. They are not included in the consignee's inventory. So they will be included in the ending inventory.The office Supplies are not the inventory goods. They are daily expense goods and are not included in the inventory.

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Answer:

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3 years ago
terin, the chief human resources officer for a major financial services company, has met with each of her employees to set their
MArishka [77]

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If​ eHermes' supplier of​ self-driving vehicle chassis is able to reduce costs by having better data on both finished goods inve
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3 years ago
Goodwill is: Multiple Choice Amortized over the greater of its estimated life or 40 years. The excess of the fair value of a bus
Svet_ta [14]

Answer:

Goodwill is:

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This definition of Goodwill implies that it is usually acquired by the purchaser of another business, when it pays a price higher than the fair market value of the other company's net assets.  It is not a physical asset like property, plant, and equipment, but intangible.

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