Answer:
It will affect the accounting equation in $7.000.
Explanation:
The Assets will increase in $8.000 because Address You now have the right to claim to a customer $8.000 and is recognized in the Receivables. At the same time, Address You has to diminish its inventories at $1.000, because it delivered the dress to the customer. Finally, on the other hand, the profits for selling the dress ($8.000 - $1.000) affect the equity, and now the Accounting equation is balanced.
Paying your phone bill late and maxing out your credit cards will hurt your credit... So it should be 1 and 3 :)
Answer:
$255,000
Explanation:
If a company acquires shares of another company the investment amount is shown in the balance sheet of the acquirer. When Plate acquired shares of Silver, it reported the investment of $225,000. The Silver reports a profit of $30,000 on January 2019. The amount reflected in the balance sheet of Plate will be $255,000. This is the sum of investment plus the profit reported by the Silver.
Answer:
The answer is:
- Dr Interest receivable 303
- Cr Interest revenue 303
Explanation:
The total interest Sheffield Company will charge during the four months is $1,212, equivalent to $303 per month. Since only one month has passed since the debt was made, Sheffield should record revenue for one month interest:
- Dr Interest receivable 303
- Cr Interest revenue 303
Answer:
See below
Explanation:
Balance per bank statement $2,979.94
Add: Interest earned $126.83
Less:
Check book balance $2,788.88
Add: Oustanding checks
($381.83 + $171.57)
