Does every transaction affect both sides of the accounting equation? Explain your answer.
Question:
Does every transaction affect both sides of the accounting equation? Explain your answer.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
No only one side of the accounting equation changes The other side ...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
A business is an organization in which basic resources (inputs), such as materials and labor, are assembled and processed to provide goods or services (outputs) to customers. A business entity may...
-
Business Forms and the Accounting Equation A business is an organization in which basic resources (inputs), such as materials and labor, are assembled and processed to provide goods or services...
-
At the breakeven point, a company's sales revenue equals its expenses and there is zero profit. Breakeven analysis can be expanded to encompass the analysis of costs, volume and profit, so that a...
-
A 50 coaxial cable is connected to an 80 resistive load and a dc source with zero internal resistance. Calculate the voltage reflection coefficients at the source and at the load.
-
What role does diversification play in the Sharpe and Treynor measures?
-
Describe the components for developing and delivering good ET programs.
-
What are the three M's of financial reporting fraud?
-
Pamela Albright is the manager of the audit of Stanton Enterprises, a public company that manufactures formed steel subassemblies for other manufacturers. Albright is planning the 2011 audit and is...
-
Kate dies owning a passive activity with an adjusted basis of $100,000. Its fair market value at that date is $130,000. Suspended losses relating to the property were $45,000. a. The heir's adjusted...
-
Lydia Hartley, manager of UltraProducts New Zealand Division, is trying to set the production schedule for the last quarter of the year. The New Zealand Division had planned to sell 100,000 units...
-
Which of the following terms is used when assuming a business will continue to operate in the foreseeable future? A. Separate entity concept B. Monetary measurement concept C. Going concern...
-
Identify the financial statement on which each of the following accounts would appear: the income statement (IS), the retained earnings statement (RE), or the Balance Sheet (BS). A. Insurance Expense...
-
Show that the Cobb-Douglas production function can be rewritten as z = Z Cxayl-a
-
Sales (5,800 units) Cost of goods sold: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Cost of goods manufactured (6,700 units) Inventory, April 30 (900 units) Total...
-
List and discuss three industry-standard methods for evaluating your mutual fund manager's performance. Give one example for each method suggested. List and discuss three potential issues when trying...
-
Why is it important that methods used to review communication strategies to support workplace diversity be effective, be appropriate. Give an example of what can happen if communication methods are...
-
An insurer has liabilities at the end of the year that are normally distributed with mean of $500 million and standard deviation of $50 million. In contrast to question 3, assets are invested in a...
-
The local grocery store expects that customers will use credit cards to pay for a total of 5 0 , 0 0 0 sales transactions during the month of April. These transactions are expected to amount to $ 6 ,...
-
The statement of income of Kneale Transport Inc. for the year ended December 31, 2017, reported the following condensed information: Kneale's statement of financial position included the following...
-
(a) Find the equation of the tangent line to f(x) = x 3 at the point where x = 2. (b) Graph the tangent line and the function on the same axes. If the tangent line is used to estimate values of the...
-
Able Transport operates a tour bus that they lease with terms that involve a fixed fee each month plus a charge for each mile driven. Able Transport drove the tour bus 4,000 miles and paid a total of...
-
Markson and Sons leases a copy machine with terms that include a fixed fee each month plus a charge for each copy made. Markson made 9,000 copies and paid a total of $480 in January. In April, they...
-
Explain the components of the total cost equation and describe how each of the components can be used by management for decision-making.
-
Which represent a formula or equation for break-even in units? (check all that apply) Fixed Costs/Contribution Margin Ratio Fixed Cost / Contribution Margin per Unit 0 = Contribution Margin per Unit...
-
Chapter 3 Income Statements (P&Ls) Chapter 3 Income Statements (P&Ls) Use Richter's steak house p &l for April 2012. Add a column to the report for percentages of each category. Show profitability if...
-
2. Chapter 2 - Net Asset Acquisition (Ch 2 in class ex, text 45) Donner Corporation had the following account balances and fair values at December 31, 2023 when the net assets were acquired by...
Study smarter with the SolutionInn App