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
Fofino [41]
2 years ago
5

At the end of the current accounting period, Ringgold Co. recorded depreciation of $15,000 on its equipment. The effect of this

entry on the company's balance sheet is to decrease:___________.a. assets and increase liabilities.b. owners' equity and decrease assets.c. assets and increase owners' equity.d. owners' equity and increase liabilities.
Business
1 answer:
kolbaska11 [484]2 years ago
3 0

Answer:

B)owners' equity and decrease assets.

Explanation:

From the question, we are informed about Ringgold Co. Whereby At the end of the current accounting period, Ringgold Co. recorded depreciation of $15,000 on its equipment. In this case, The effect of this entry on the company's balance sheet is to decrease owners' equity and decrease assets. Depreciation can be regarded as type of expense that brings reduction in value of an asset. It can be regarded as scheduled and not estimated expense . Depreciation can be recorded on balance sheet, as well as cash flow statement.

You might be interested in
because research is blank______, it is important to figure out beforehand exactly what problem needs to be solved.
KonstantinChe [14]

Expensive and time consuming, it is important to figure out beforehand exactly what problem needs to be solved.

Research expense must be budgeted before it is incurred so that the cost is available to be borne by the company.

<h3>What is research?</h3>

Research is expense carried by the company to develop a new product if the research meet the criteria it is capitalize as intangible and it will be amortize over its useful life once the development is available for use otherwise it will expense out in profit and loss statement.

#SPJ12

Learn more about research brainly.com/question/27899054

7 0
2 years ago
Revenue is recorded when services have been performed or products have been delivered to customers. The accounting principle sup
VladimirAG [237]

Answer:

The revenue recognition principle

Explanation:

The revenue recognition principle states that revenue should be recorded when services have been performed or products have been delivered to customers and  not when cash is received for the service rendered

For example, if a supplier delivers 10,000 worth of goods to consumers in November and is paid for the goods in December. Revenue should be recognised in November and not December.

3 0
2 years ago
you work with a group of employee's who are in their early 20s. Which of the following methods of communication should you use t
Troyanec [42]
Please give the options in order for us to determine which is best.
5 0
3 years ago
Does any body know how to speed up the process of finding answers
Ivan

Answer:

Hi

Explanation:

it honestly depends try reloading or refreshing or poking on other sites that LOOK APPROPRIATE

5 0
2 years ago
Biloxi Gifts uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general jou
SpyIntel [72]

<u>Solution and Explanation:</u>

<u>The following journal entries are passed in the books of accounts.</u>

Purchase of merchandise on credit - no entry is to be passed

Contribution of automobile to the company:

Date           Details                      debit                 credit

12- nov     Automobiles          17000

                      TB Capital                                      17000

( To record contribution of automobile to the company)

Sale of merchandise on credit:

Not recorded in gernal journal

Return of merchandise sold:

Date           Details                                            debit                 credit

19- Nov       Sales return and allowances      175

                     accounts receivable - KM                                 175

3 0
3 years ago
Other questions:
  • The Information Security __________ is a managerial model provided by an industry working group, National Cyber Security Partner
    9·1 answer
  • Rent-a-Furniture Center is offering a living room set that retails for $799 for $25 per week for 1 year. What is the percent mar
    5·1 answer
  • Which of the following are not legitimate constraints on the dividends a firm will pay to​ shareholders?
    12·1 answer
  • If the number of dollars needed to buy a representative basket of goods falls, the price level
    15·1 answer
  • An entity may decide not to sell a long-lived asset (disposal group) classified as held for sale. It should therefore re-classif
    5·1 answer
  • Information related to Harwick Co. is presented below.1. On April 5, purchased merchandise from Botham Company for $38,700, term
    15·1 answer
  • Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Inc. (BLI). As part of their discussi
    15·1 answer
  • Noah's Ark is a successful child care center. It focuses on actively developing, finding, and communicating new knowledge to its
    7·1 answer
  • FINANCIAL LITERACY <br> WILL MARK BRAINLIEST PLS HELP ASAP!!
    12·1 answer
  • What are examples of Government and Public Administration careers? Check all that apply. O Lawyer O Security Guard O Farmworker
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!