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Sliva [168]
2 years ago
8

Land originally purchased for $28,390 is sold for $74,057 in cash. What is the effect of the sale on the accounting equation

Business
1 answer:
Elodia [21]2 years ago
8 0

There is no effect on the accounting equation.

<h3>What is accounting equation?</h3>

Accounting equation is the one which states that a company's total assets are equal to the sum of its liabilities and its shareholders' equity.

Assets = owner's equity + liability

The above means that land is not depreciated, therefore assets decrease (-land) but also increase (+cash).

The elements of accounting equation are :

  • Assets
  • Liabilities
  • Shareholders' equity.

Learn more about account equation here: brainly.com/question/24401217

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Umm... I can't find the choices... So, those are the choices I made up that are correct to your question.


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3 years ago
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Answer:

Infant industry.

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In this scenario, Company Z is a U.S. company that is the first in this country to produce a good that is already produced in many foreign countries and sold in the United States. Most likely, the argument it will voice in its attempt to be protected from foreign competition is the infant industry argument.

An infant industry can be defined as an industry that is still in its early stages of development and as such are not capable of competing with foreign companies.

<em>Hence, according to the infant industry theory the argument would be that infant industries should be offered some kind of protection from competitors in other industries either foreign or local until they mature and develop a good and reputable economies of scale. </em>

6 0
3 years ago
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Hope this helps. ThankYou.

3 0
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What are three ways that can ensure your message is clear and not misnunderstood?
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Your communication style matches theirs

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