You are watching: How does paying a liability in cash affect the accounting equation
Accounting provides information to supervisors to operate the business and also to other users to make decisions concerning the economic condition of the company.
On may 20, White Repair company extended an market of $108,000 for land that had actually been priced because that sale at $140,000. On may 30, White Repair service accepted the seller"s counteroffer that $115,000. On June 20, the land to be assessed at a value of $95,000 for building tax purposes. ~ above July 4, White Repair company was readily available $150,000 because that the floor by a national retail chain. In ~ what value must the soil be recorded in White fix Service"s records?
For audit purposes, the business entity have to be considered separate native its owners if the entity is
If total assets lessened by $88,000 during a duration of time and stockholders" equity increased by $71,000 during the same period, then the amount and also direction (increase or decrease) that the period"s readjust in complete liabilities is
Ramos Repair firm is payment a cash dividend. Exactly how does this transaction affect Ramos repair Company"s bookkeeping equation?
The gaue won statement the presents a an introduction of the revenues and expenses of a company for a specific duration of time, such together a month or year, is dubbed a(n)
Which that the following errors, each considered individually, would cause the psychological balance totals to it is in unequal?
A payment the $4,450 to a creditor was posted as a debit that $4,500 to account Payable and a credit of $450 come Cash.
See more: Dragon Vale How To Get Lots Of Gems In Dragonvale, : Dragonvale