Business, 21.09.2020 18:01 juanitarodriguez

Selected transactions for Green Valley Lawn Care Company are listed below. Describe the effect of each transaction on assets, liabilities, and owner's equity. For example, the first answer is: Increase in assets and increase in owner's equity.

1. Made cash investment to start business. Increase in assets and increase in owner's equity
2. Paid monthly rent.
3. Purchased equipment on account. Increase in assets and increase in liabilities
4. Billed customers for services performed.
5. Withdrew cash for owner's personal use.
6. Received cash from customers billed in (4).
7. Incurred advertising expense on account.
8. Purchased additional equipment for cash. Increase in assets and decrease in assets
9. Received cash from customers when service was performed

Options:
a. Increase in assets and increase in owner's equity
b. Decrease in assets and decrease in owner's equity
c. Increase in assets and increase in liabilities
d. Increase in assets and decrease in assets
e. Increase in liabilities and decrease in owner's equity
f. Decrease in liabilities and increase in owner's equity
g. Increase in liabilities and increase in owner's equity
h. Decrease in liabilities and decrease in owner's equity
i. Increase in assets and decrease in owner's equity
j. Decrease in assets and increase in owner's equity
h. Decrease in assets and decrease in liabilities

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 01:00

How does the economy of cuba differ from the economy of north korea? in north korea, the government’s control of the economy has begun to loosen. in cuba, the government maintains a tight hold over the economy. in cuba, the government’s control of the economy has begun to loosen. in north korea, the government maintains a tight hold over the economy. in north korea, there is economic uncertainty in exchange for individual choice. in cuba, there is economic security in exchange for government control. in cuba, there is economic uncertainty in exchange for individual choice. in north korea, there is economic security in exchange for government control.\

Answers: 2

Answer

Business, 23.06.2019 07:40

In the short-run, marginal costs are equal to the change in variable costs as output changes. ( mc = change in variable cost / change in quantity) assume that capital is fixed in the short-run. (a) start with the equation for marginal cost and derive an equation that relates marginal cost of production to the cost and productivity of labor. (b) draw a standard looking short-run marginal cost curve and use the equation you derived to explain its shape.

Answers: 2

Answer

Business, 23.06.2019 11:00

Match each event to its effect on the equilibrium interest rate and the amount of investment in the loanable funds market. higher interest rate, greater investment higher interest rate, less investment lower interest rate, less investment lower interest rate, greater investment immediate consumer gratification is no longer preferred by people. an efficient new source of energy effectively increases the return on owning a factory. a wave of retirees stops working and begins drawing on retirement savings.

Answers: 3

Answer

Business, 23.06.2019 13:40

Nicholas makes $2,000 per month. he spends $300 on credit card payments and $350 on an auto loan. what is his debt-to-income ratio? 17.5 percent 22 percent 2.7 percent 32.5 percent

Answers: 1

Answer

You know the right answer?

Selected transactions for Green Valley Lawn Care Company are listed below. Describe the effect of e...

Questions