Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
PLEASE ANSWER ASAP Provide the missing number in the following equation. Enter only the digits - no dollar signs, commas, decimal points, or pennies. Revenue
PLEASE ANSWER ASAP
Provide the missing number in the following equation. Enter only the digits - no dollar signs, commas, decimal points, or pennies. Revenue = 58624, Expenses = 45174, Profit = On September 1, a customer pays your company $900 for six months of services (September through February). By the end of the year, December 31, how much revenue will you have recorded? Enter your answer without $ signs, decimal points, commas or pennies - just the digits. A/ What is the effect of the following transaction on the basic accounting equation? Purchased a business licence from Service Ontario for $60 using a credit card. 1) Assets decrease, liabilities decrease. 2) No entry, no effect. 3) Assets decrease, owners' equity decreases. 4) Liabilities increase, owners' equity decreases. 5) Liabilities decrease, owners' equity increases. 06) Assets increase, assets decrease. 7) Assets increase, liabilities increase. 8) Assets increase, owners' equity increases. What is the effect of the following transaction on the basic accounting equation? Paid your credit card bill of $2,500. 1) Assets increase, assets decrease. 2) Assets increase, owners' equity increases. 3) Assets decrease, owners' equity decreases. 4) No entry, no effect. 5) Liabilities increase, owners' equity decreases. 6) Assets decrease, liabilities decrease. 7) Assets increase, liabilities increase. 8) Liabilities decrease, owners' equity increases. What is the effect of the following transaction on the basic accounting equation? Bought equipment for $4,000 using a credit card. 1) Assets increase, liabilities increase. 2) Assets increase, owners' equity increases. 3) Assets decrease, owners' equity decreases. 4) No entry, no effect. 5) Liabilities decrease, owners' equity increases. 06) Assets increase, assets decrease. 7) Liabilities increase, owners' equity decreases. 8) Assets decrease, liabilities decrease. What is the effect of the following transaction on the basic accounting equation! Took out a loan from the bank and received $12,000 cash. 1) No entry, no effect. 2) Liabilities decrease, owners' equity increases. 3) Assets increase, assets decrease. 4) Assets decrease, liabilities decrease. 5) Liabilities increase, owners' equity decreases. 6) Assets increase, owners' equity increases. 7) Assets increase, liabilities increase. 8) Assets decrease, owners' equity decreases. What is the effect of the following transaction on the basic accounting equation? Paid rent for last month, $4,000. 1) No entry, no effect. 2) Assets decrease, liabilities decrease. 3) Assets increase, assets decrease. 4) Assets increase, owners' equity increases. 5) Liabilities decrease, owners' equity increases. 6) Assets increase, liabilities increase. 7) Liabilities increase, owners' equity decreases. 8) Assets decrease, owners' equity decreasesStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started