Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 Sep Bills are sent to clients for services provided in August equalling $800 9 Sep Barlue Furnishings delivers $1060 of office furniture and $160

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
1 Sep Bills are sent to clients for services provided in August equalling $800 9 Sep Barlue Furnishings delivers $1060 of office furniture and $160 of office supplies to Bravada, leaving an invoice for $1220 15 Sep Payment is made to Barlue for the office furniture and supplies delivered on 9 September 23 Sep A $430 bill for advertising for the month of September is received. It will be paid on its due date in October 30 Sep Salaries of $850 are paid to employees The journal entry to record the transaction on 9 September will include a credit of $1220 to: O accounts payable O cash O furniture and supplies delivery expense Question 14 1 pts Stricker Company sold equipment for $4000. This resulted in a $1500 loss. What is the impact of this sale on the balance sheet? O Increases total assets O Increase total assets and decrease total equity O Has no effect on total assets O Reduces total assets Question 15 1 pts On 1 July 2020, XYZ sold a piece of equipment for $30 000 which it had used for several years. The equipment had cost $45 000 and its accumulated depreciation amounted to $20 000 at the time of the sale. What are the net effects on the accounting equation of selling the equipment? Assets and equity decrease $5000 Assets and equity increase $30 000 Assets and equity increase $5000 Assets decrease and equity increases $5000 Question 17 1 pts In the decision-making process, an example of a quantitative sales related performance measure would most likely be: number of units produced O sales staff satisfaction O number of customer complaints O product reliability

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit And Assurance Q And A 2016

Authors: ACA Simplified

1st Edition

1523200464, 978-1523200467

More Books

Students also viewed these Accounting questions

Question

3. Define the roles individuals play in a group

Answered: 1 week ago