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
marusya05 [52]
4 years ago
9

In her work as an accountant, Sandra Garcia recognizes that for every transaction that affects an asset, an equal transaction mu

st also affect either a liability or owners' equity. Sandra is using ________ bookkeeping
A) double profit
B) double entry
C) bottom line
D) triple entry
E) dividend
Business
1 answer:
adell [148]4 years ago
5 0

Answer:

Correct option is (B)

Explanation:

In accounting, double entry book keeping is followed as every financial transaction has dual effect on the books of accounts. It starts with the accounting equation which stated:

Assets = Liabilities + Stockholder's Equity

If there is an increase in assets, there has to be a subsequent increase in either liability or stockholder's equity.

Every transaction is debited in one account and credited in some other account.

For example Depreciation for the year is $2,000. Depreciation expense account is debited by $2,000 and accumulated depreciation account is credited by $2,000.

Since Sandra recognizes that an effect on asset will have a simultaneous effect on either liability or equity, she is following double entry bookkeeping.

You might be interested in
The primary cost associated with the level production strategy is the cost ofA.holding inventory.B.hiring and firing workers.C.o
geniusboy [140]

Answer:

The primary cost associated with the level production strategy is the cost of

A.holding inventory.

5 0
2 years ago
Based on his investment advisor's guidance, Christopher sold two stocks during 2020. The capital gain on the sale of Magnificent
Mamont248 [21]

Answer:

The question is incomplete since we are not told if the capital gain is a short or long term gain. So I will answer the question in both possible scenarios.

Short term capital gains:

They are taxed as ordinary income, so the net gain = $35,000 - $7,000 = $28,000

Net gain after taxes = $28,000 x (1 - 53.31%) = $13,073.20

Long term capital gains:

They are taxed at a much lower rate that ranges from 0 to 20%. In this case, Christopher is probably taxed at 20%.

Net gain after taxes = $28,000 x (1 - 20%) = $22,400

Explanation:

6 0
3 years ago
Consumer​ surplus:
elena-14-01-66 [18.8K]

Consumer surplus is the difference between the maximum amount the consumer is willing to pay for the price of the good and the price that was actually paid by the consumer or commonly known as the current market price. The price that the consumer is willing to pay is determined by the demand curve in the market.

8 0
3 years ago
Read 2 more answers
A(n) ________ bank is an institution, such as Credit Suisse First Boston, that acts as an underwriter or agent for a firm engage
Orlov [11]

Answer:

Public bank

Explanation:

A public bank is a bank, or a financial institution where a state, municipality would be the owners also it is an entrerprise that are controlled by the government

So as per the given situation the given boston would be acted as an underwriter and engaged in the initial public offering so this represent the public bank

hence, the same would be relevant

8 0
3 years ago
In the market for beef, the price of a pound of beef falls Explain the effect of this event on the quantity of beef supplied and
Lera25 [3.4K]

Answer:

E. The quantity of beef supplied decreases and the supply of beef is unchanged.

Explanation:

In the market for beef, the price of a pound of beef falls. The effect is "the quantity of beef supplied decreases and the supply of beef is <u>unchanged</u>. The reason is that any price change of the product will not shift the demand or supply but changes the quantity supplied.

5 0
3 years ago
Other questions:
  • December 31. Adjusting for the salaries and benefits expense for the last three days of the accounting period would
    8·1 answer
  • Record transactions and prepare a partial income statement using a perpetual inventory system (LO6-2, 6-5) The following informa
    10·1 answer
  • What is trade in economics​
    6·2 answers
  • Suppose the price you are willing to pay for a new car is greater than the marginal cost of producing that new car. Under which
    6·1 answer
  • Katsu Corp. distributes property to its shareholders as part of a complete liquidation. The fair market value of the property is
    5·1 answer
  • Senay is considering attending a movie with a ticket price of $35. She estimates that the cost of driving to the movie and parki
    10·1 answer
  • Which of the following techniques can be used to narrow options for increased decision-making effectiveness? A. Applying differe
    9·1 answer
  • It is the list of material or ingredients for a project​
    9·1 answer
  • Kentucky Supply Co., which had no beginning balance in its Accounts Receivable and Allowance for Doubtful Accounts, earned $80,0
    13·1 answer
  • Hewo how are u today
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!