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dolphi86 [110]
3 years ago
12

Tidy Service Company performed cleaning services during December 2019, but had not collected any cash from its customers as of D

ecember 31, 2019. What impact did performing these services have on the accounting equation
Business
1 answer:
vredina [299]3 years ago
5 0

Answer:

The service increased assets and increased stockholders' equity

Explanation:

Based on the information given the impact that

did performing these services have on the accounting equation will be THE SERVICE INCREASED ASSETS AND INCREASED STOCKHOLDERS' EQUITY reason been that

when Performing the services will help to generate revenue,

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Metro Facilities, Inc., contracts to sell a parking garage to Nouveau Property Company. The contract provides that if Metro does
Inga [223]

Answer:

D) a penalty clause

Explanation:

Penalty clauses are usually not enforced by the courts since they generate an excessive charge against the other party for defaulting or breaching a contract. Generally penalty clauses are considered excessive since they aren't proportional to the damages incurred.  

6 0
3 years ago
The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balance
Anastasy [175]

Answer:

Balance sheet:

Accounts Payable -Liability

Property, Plant. and Equipment -Asset

Long-Term Debt-Liability

Retained Earnings-equity account

Prepaid Expense -Asset

Common Stock -equity account

Accounts Receivable-Asset

Income statement:

Cost of Goods Sold-expense

Research and Development-expense

Explanation:

Property, plant and equipment , accounts receivable and prepaid expenses would appear on the asset side of the balance sheet.

Long-term debt and accounts payable are both liabilities since they are obligations owed to third parties while retained earnings and common stock are both equity account

Lastly,cost of goods sold and research and development cost are expenses in the income statement

3 0
3 years ago
Parks Corporation is considering an investment proposal in which a working capital investment of $10,000 would be required. The
Virty [35]

Answer:

$4,355.26  

Explanation:

The net present value is the present value of future cash flows expected from the project minus the initial investment outlay

initial investment outlay=working capital investment = -$10,000

Years 1-5 cash inflow=$2,000

Year 6 cash inflow=normal cash inflows+release of working capital

Year 6 cash inflow=$2,000+$10,000=$12,000

the present value of a future cash flow=cash flow/(1+r)^n

n is 1 for year cash inflow 2 for year 2 cash inflow, 3 for year 3 cash inflow and so on

NPV=-$10,000+$2,000/(1+10%)^1+$2,000/(1+10%)^2+$2,000/(1+10%)^3+$2,000/(1+10%)^4+$2,000/(1+10%)^5+$12,000/(1+10%)^6

NPV=$4,355.26  

5 0
2 years ago
Why do you think researchers sometimes find a positive relationship between the unemployment rate and college enrollment rates?
horsena [70]

Answer:

dhdfhdsfgdhgfdhgdfhghghghcows

Explanation:

4 0
3 years ago
In computing depreciation, salvage value isa. the fair market value of a plant asset on the date of acquisition.b. subtracted fr
kirill115 [55]

Answer:

c. an estimate of a plant asset's value at the end of its useful life

Explanation:

The salvage value or the residual value is the estimated value of the fixed asset which can be received at the end of its useful life. So, neither it is a fair market value of a plant asset , nor it is deducted from the accumulated depreciation.

The treatment of the residual value under the straight-line method or any other method is shown below:

The depreciation expense under the straight-line method is shown below:

= (Original cost - residual value) ÷ estimated life in years

The residual value should always be deducted from the original cost of fixed asset

5 0
3 years ago
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