When an owner deposits cash in an account in the name of the business, it is an increase to: a. cash and accounts
What does deposit of owner mean for the business?
First and foremost, by depositing the cash in the name of the business, the firm's cash balance would increase by the amount deposited, however the cash deposit coming from the owner also indicates that the owner is investing additional cash in the business, which means that equity is also affected by $1000 cash deposit in business name
In essence, the effects are that the cash would increase, so also the equity balance of the business, hence, the first option is correct.
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The correct answer is B: be expanded.
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Answer:
The answer is
Dr: Notes Receivable $4,800
Dr: Interest Receivable $120
Cr: Sales $4,920
Explanation:
The yearly interest rate is 10%
So the interest rate for 90 days(assume 360 days make a year?
90/360 x 10%
2.5% is the interest rate for 90 days.
The interest payment for 90 days will be;
2.5% x $4,800
= $120
The entry will now be:
Dr: Notes Receivable $4,800
Dr: Interest Receivable $120
Cr: Sales $4,920
Answer:
The answer is B she's an introvert, a person who's more reserved in nature than other people.