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Sladkaya [172]
3 years ago
6

Collection of a $1,000 Accounts Receivable A. decreases a liability $1,000; increases stockholders' equity $1,000. B. has no eff

ect on total assets. C. increases an asset $1,000; decreases stockholder's equity $1,000. D. increases an asset $1,000; decreases a liability $1,000.
Business
2 answers:
DerKrebs [107]3 years ago
8 0

Answer:

B. has no effect on total assets.

Explanation:

Both cash and accounts receivable are assets. When a sale is made on credit, the entries required are debit accounts receivable and credit revenue.

On receipt of cash, debit cash and credit accounts receivable.

Hence the collection of a $1,000 Accounts Receivable will have no effect on total assets as one asset was credited ( a reduction) while the other was debited(an increase) by the same amount.

adell [148]3 years ago
3 0

Answer:

B) has no effect on total assets.

Explanation:

When an account receivable is collected, the following journal entry should be made:

Dr Cash 1,000

    Cr Accounts receivable 1,000

Since both cash and accounts receivable are current assets, that transaction doesn't affect liabilities or equity, and doesn't change total assets either. Cash will increase while accounts receivable will decrease.

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Bob is working on a new report for the next quarterly meeting that he knows the CEO needs to determine next​ quarter's direction
Rzqust [24]

Answer:

information exchange

Explanation:

Information exchange refers to the action of passing information from one person to another. This can be done in person, using the phone, video calling or emails or other types of electronic messages.

In this case, Bob is anxious because Anna is not exchanging information with him promptly. Instead she is wasting both her and his time by chatting with other employees.

8 0
3 years ago
Inventory balances for the Jameson Company in October 2018 are as follows:
lbvjy [14]

Answer:

Total manufacturing costs added to production $186,000

Explanation:

The computation of the total manufacturing cost to be added is given below:

Raw materials,beginning $27,000  

Add: Purchases of direct materials $36,000  

Less: Raw materials,ending -$21,000  

Direct materials used $42,000

Direct labor             $60,000

Factory overhead costs $84,000

Total manufacturing costs added to production $186,000

8 0
2 years ago
Which type of budget indicates more expenses than income?
Fittoniya [83]

Answer:

a deficit budget

Explanation:

A budget is a plan detailing how an individual, a firm, or a government will spend its anticipated revenue. In short, a budget is a plan of expenditure. Budgets are usually prepared at the beginning of a period to guide the use of available resources.

An ideal situation is when the planned expenditure equal to the expected income. Such a plan is called a balanced budget. However, in some circumstances, the planned expenditure exceeds the projected income. That budget is a deficit budget.

3 0
2 years ago
At an auction sale, the buyer is the party making the offer, or bid. <br> a. True <br> b. False
lesantik [10]
A. true the buyer is the party making the offer
8 0
3 years ago
Read 2 more answers
You operate a car detailing business with a fixed amount of machinery​ (capital), but you have recently altered the number of wo
NemiM [27]

Answer:

1.5 cars

Explanation:

Three employees can produce a total of:

= 4 × 3

= 12 cars in an hour.

Five employees can produce a total of:

= 3 × 5

= 15 cars in an hour

So, the increase in total product of labor as I increase the labor from 3 to 5 employees:

= Total product when 5 employees are hired - Total products when 3 employees are hired

= 15 - 12

= 3 cars.

So, the marginal product of moving from 3 to 5 workers:

= 3 ÷ 2

= 1.5 cars

3 0
3 years ago
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