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3 years ago

If a company purchases equipment costing $5,100 on credit, the effect on the accounting equation would be:

Business

1 answer:

alex41 [277]3 years ago

4 0

Answer:

assets increase $5,100 and liabilities increase $5,100

Explanation:

Assets are the items that a company owns which can provide future economic benefit.

Liabilities are future sacrifices of economic benefits that an entity is obliged to make to other entities as a result of past transactions or other past events, hence Liabilities are what a person or company owe other parties.

If a company purchases equipment costing $5,100 on credit, the assets of the company will increase by $5100 as a result of acquiring an equipment. Also, the liability will increase by $5100 as a result of debt owed.

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edna is the leading brain surgeon in the united states. she enters into a contract to perform a difficult brain operation on ben

wolverine [178]

An employement contract if Edna is unable to complete the procedure, another surgeon with the minimum degree of expertise required for the procedure must take over the contract.

This example’s procedure is risky and connected to a risky surgery that would be best handled by Edna. Since the contract was based on Edna’s experience, it cannot be transferred to someone with the lower level of expertise required for this activity.In this case, Edna, a renowned brain surgeon in the United States, signs a contract to operate delicately on Ben’s brain. Edna, who has a lot going on, wants to give Charles, a less experienced surgeon who would be doing his first procedure of this kind, this contract because she is so busy.Because the contract between Ben and Edna involves personal talent, Ben can object to and stop this assignment (brain surgery).Evidently, Edna’s position as the top brain surgeon in the USA can be attributed to her competence and professionalism. With this knowledge at his disposal, Ben decided to enter into a contract with Edna, a skilled brain surgeon.

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1 year ago

Investment companies or mutual funds that continue to sell and repurchase shares after their initial public offerings are referr

Furkat [3]

Answer:

Open end

Explanation:

Open end otherwise known as mutual fund are those investments offered through fund companies which sells shares directly to investors. In an open end fund investment, there is no limit to the number of shares that can be offered therein. The shares traded are unlimited which means that shares can be issued in as much can be backed up with funds.

The prices for open end funds are fixed once daily which shows the performance of the investment for that day hence the only price at which investment shares can be bought for that day.

5 0

3 years ago

The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2016, trial

dlinn [17]

Answer:

purchase of supplies 5,600

insurance expense 2,300 debit

prepaid insurance 2,300 credit

Explanation:

(1) What was the cost of supplies purchased during December?

invneotry identity:

beginning supplies + purchase = ending supplies + expense

the left side are the input. The supplies could come from previous prior or be pruchase.

The right side the outputit could be consumer or kept at stock

3,100 + p = 4,600 + 3,600

purchase = 4,600 + 3,600 - 3,100 = 5,100

(2) What was the adjusting entry recorded at the end of December for prepaid insurance?

beginning insurance 7,600

ending insurance (5,300)

adjustment: 2,300

there was insurance expired for the value of 2,300

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2 years ago

Robert must send an e-mail message to a client in Turkey. He is carefully selecting his words to ensure that his Turkish client,

Anastaziya [24]

Answer:

Message encoding.

Explanation:

Communication can be defined as the process of conveying information from one person or location to another. Communication can also be described as the transmission of messages through signs, pictorial representation, verbal means.

Encoding can be defined as the process in which an idea is transformed in a communicable message and then transmitted through various channels such as television, radio, internet.

Message encoding involves sending messages to the receiver in comprehensible words.

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2 years ago

Briefly describe a customer experience you have personally encountered where you were unsatisfactory when you purchased a good.

sattari [20]

Answer: Faulty Mother board ordered on AliExpress

Explanation:

A while back my Laptop developEd power issues wasn’t turning on, took it down to the technician who told me it had board issues as it wasn’t responsive. And the only solution was me getting a new mother board. Well i ended up ordering the board from Abroad on Aliexpress the board arrived damaged Was bent all efforts to get a refund or a replacement was proving difficult as the seller and AliExpress were hell bent on frustrating me. At the end was refunded but that was like over a month was one hell of an experience.

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3 years ago