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adelina 88 [10]
3 years ago
10

What would be the effect on the accounts if the business purchased equipment on account?

Business
1 answer:
Serjik [45]3 years ago
3 0

Answer:

A. An asset would be debited and a Liability credited.

Explanation:

Purchasing on account means buying on credit. The debts of the business increase. As a result,  liabilities increase.

Equipment is a business asset. Purchasing equipment increases assets.

In the double-entry accounting system, An increase in an asset is recorded by debiting the asset account. An increase in liabilities is captured by crediting the liabilities account.

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In the United States today what gives money its value
VMariaS [17]

Answer:

It can give money value today but it reallys depends because if you are trying to say money give us value to help us pay for medicare then yes. In order for us to afford medicare. You need the Goverments support especally if you an need for support or you have someone is need.

Explanation:

4 0
3 years ago
The admissions director at big city university proposed using the iq scores of current students as a marketing tool. the univers
Vika [28.1K]

The complete question is as follows:

The admission directory of Big City University has a novel idea. He proposed using the IQ scores of current students as a marketing tool. The university agrees to provide him with enough money to administer IQ tests to 50 students. So the director gives the IQ test to an SRS of 50 of the university’s 5000 freshman. The mean IQ score for the sample is xbar=112. The IQ test he administered is known to have a σ of 15. What is the 95% Confidence Interval about the mean? What can the director say about the mean score of the population of all 5000 freshman?

Answer: The 95% confidence interval about the mean is Confidence interval = 107.84 \leq \mu \leq 116.16.

The director can say that he is 95% confident that the mean IQ score of the 5000 freshmen lies between 107.84 and 116.16.

We follow these steps to arrive at the answer:

Since the population standard deviation of the IQ test is known, we can use the Z scores to find the confidence interval.

The formula for the confidence interval about the mean is:

Confidence interval = \overline{X}\pm Z*\frac{\sigma}{\sqrt{n}}

In the equation above, X bar is known as the point estimate and the second term is known as Margin of Error.

The Critical Value of Z at the 95% confidence level is 1.96.

Substituting the values in the question in the equation above we have,

Confidence interval = \112\pm 1.96*\frac{15}{\sqrt{50}}

Confidence interval = \112\pm 4.157787873}

Confidence interval = 107.8422121 \leq \mu \leq 116.1577879

5 0
3 years ago
Suppose you are the Purchasing Manager for a large chain of restaurants in the United States, and you need to make your semiannu
Leto [7]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

4 0
3 years ago
Since the 1980s, many "developing" countries have liberalized trade and investment, often because they have had to accept IMF St
kolezko [41]

Answer:Please Refer to the explanation section

Explanation:

The question has insufficient information, we are supposed to be studying the diagram to determine outlier countries with poorest international shipping logistics. i have consulted the International Shipping Logistic performance  index 2018 to find poorest countries in terms of international shipping logistics. according to the world bank countries like Zimbabwe, Lesotho , Syrian Arab Leon , Sierra Leon and Niger are some of the poorest countries when incomes to international shipping

Challenges Faced by these countries.

  • Challenge of being land locked.

Countries like Zimbabwe , Niger and Lesotho face great challenges in international shipping logistics because they are land locked. any Political instabilities in the neighbouring countries affect they logistics businesses directly because the need entry to other countries to transport goods

  • Political Instability

Countries like Syrian Arab Republic, Somalia and Sierra Leon suffer from Political instability which makes it difficult for the to trade with other countries.

3 0
4 years ago
foster company bought equipment on january 3 of this year for $10,000. at the time of purchase, the equipment was estimated to h
notka56 [123]

The foster company bought equipment on January 3 of this year for $10,000. at the time of purchase, the equipment was estimated to have a useful life of nine years and a trade-in value of $1,000 at the end of nine years. using the straight-line method, the amount of one year's depreciation of $1,000.

When the vendor account is paid in cash, the capital of the company increases. A transaction can affect up to two elements of the accounting equation. When receivables are collected in cash, the company's total assets increase. Purchases of commercial equipment are recorded as purchase prices.

Learn more about equipment at

brainly.com/question/25806993

#SPJ4

6 0
2 years ago
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