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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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Blossom Chemicals Company acquires a delivery truck at a cost of $32,800 on January 1, 2022. The truck is expected to have a sal
kakasveta [241]

Answer:

$16400

$8200

Explanation:

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)  

Depreciation factor = 2/4 = 0.5

Depreciation expense in year 1 = 0.5 x $32,800 = $16,400

Book value at the beginning of year 2 =  $32,800 - $16,400 = $16400

Depreciation expense in year 2 = 0.5 x $16,400= $8200

4 0
3 years ago
A researcher conducts a survey of people who use anxiety medications, recruited through an advertisement in the local paper. the
Darya [45]
<span>The researcher has violated participant confidentiality and has made the validity of the study invalid. The people whose confidentiality was breached should be notified and they should have the right to revoke their information from the study. No one who believes they have participated with confidentiality should be subjected to having others know they were involved if they do not want that.</span><span />
3 0
3 years ago
An employee quits her job where she has a balance of $10,000 in her qualified plan. The balance was paid out directly to the emp
yawa3891 [41]

Answer:

$8,000, and she has to complete 60 days

Explanation:

Whenever money has to be taken out of the first plan, then it is the requirement of IRA to complete the rollover within 60 days, also the amount to be withheld is 20% this is in the case where the amount is directly paid o the concerned participant. Then the person concerned for such payment has to keep 20%

Here in the instance Total amount = $10,000

20% of such = $2,000

Thus, amount received from the administrator = 80% = $10,000 \times 80% = $8,000

3 0
3 years ago
Robin Brothers works for a winery that sells to restaurants through distributors. She knows the types of wine her company sells
qaws [65]

Answer:

A missioniairy salesperson

Explanation:

Missionary selling is a form of personal sales in which the salesperson provides information to an individual who will influence the purchase decision. This is an indirect sales technique; the goal is not to close a sale, but merely to get information into the hands of a key decision-maker. Robin is providing information to restaurants in order to "Help Them" to buy her company's wine.

3 0
4 years ago
Your co-worker, the operations manager of Blue Ocean Seafood Restaurants, has pointed out a slight decline in diners ordering an
cluponka [151]

Answer:

You agree that test marketing could be helpful, but you point out that it may also reveal your ideas to your competitors.

Explanation:

In the give scenario the existing famous cheesy butter biscuits sales are going down. In an effort to increase the revenue of the business the head of product development has a theory that people want lighter options today, and she has recommended test marketing a lower-fat version of the biscuits at select locations in eight major cities across the United States.

This is an innovative solution to the problem and the head of product development should be encouraged to drive the test marketing.

However marketing a lower-fat version of the biscuits at select locations in eight major cities will expose the strategy to competitors. It will be better to conduct the test in a more controlled environment away from competitors.

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