2 years ago

What happens to the balance sheet when a company makes sales of $500, of which $300 is paid in cash and $200 is sold on credit

Business

1 answer:

postnew [5]2 years ago

7 0

Based on the information given what happens to the balance sheet is:

Debit Cash $300 ; Debit Accounts receivables $200 ;Credit Retained earnings $500.

The appropriate journal entry is:

Debit Cash $300

Debit Accounts receivables $200

Credit Retained earnings $500

(To record retained earnings)

Inconclusion what happens to the balance sheet is: Debit Cash $300 ; Debit Accounts receivables $200 ;Credit Retained earnings $500.

Learn more about balance sheet here:brainly.com/question/1113933

You might be interested in

On January 1, 2016, Miller Corporation had retained earnings of $8,000,000. During 2016, Miller reported net income of $1,500,00

Papessa [141]

Answer:

Miller's retained earnings on December 31, 2016 is $9,000,000.

Explanation:

Miller's retained earnings on 31 December 2016 = retained earnings on January 1, 2016 + net income - declared dividends

= $8,000,000 + $1,500,000 - $500,000

= $ 9,000,000

Therefore, Miller's retained earnings on December 31, 2016 is $9,000,000.

4 0

2 years ago

Steve has been given the charge of managing unskilled labor in the production units of his company. These workers are primarily

AURORKA [14]

Answer:

c. Reward power

Explanation:

Reward power is the power to influence employees or to impress employees by giving them some reward for doing certain things. The reward is clear and vague .

so correct option is c. Reward power

4 0

2 years ago

Regina is looking to start a knitting business and completes a target market profile to include in her business plan. Identify w

mojhsa [17]

In order to get the item and recategorizing it Regina needs to have in mind the Demographics it means facts about the economic status of the people, Geographics which means where customers live, Psychographics which means to determine the people's attitudes and beliefs and the Buying Patterns which means how they use their money. With that in mind you can see which item is not related<span>
</span>

6 0

2 years ago

(Table: Optimal Choice of Milk and Honey) Look at the table Optimal Choice of Milk and Honey. The price of milk is $2 per gallon

raketka [301]

Since you provide no table, me nor anyone else would not be able to find out his total utility

But if he spends all his income on honey, the most he can buy is :

$16 / 4$ = 4 Jars

That leave either option 1 or option 4 as the answer

4 0

2 years ago

A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way t

vfiekz [6]

Answer: A) Prototype

Explanation:

The first model shown to entrepenuers are called prototypes

proto- before

6 0

3 years ago