carlossalgueroc6678 carlossalgueroc6678
  • 04-09-2020
  • Business
contestada

Price Company provides cleaning services to customers for $10,000 cash. What are the effects of this transaction on the accounting equation? (Select all that apply.)

Respuesta :

Parrain
Parrain Parrain
  • 05-09-2020

Answer:

  • Increase assets
  • Increase retained earnings

Explanation:

Price Company is a service provider so when the cash is paid to them for offering the cleaning service, it will count as revenue which will serve to increase equity holdings.

The cash account will also increase by a sum of $10,000 and as cash is an asset, the assets will increase.

Answer Link

Otras preguntas

how to get roots from quadratic formula
Joe receives an average of 780 emails in his personal account and 760 emails in his work account each month. After changing his addresses, the number of emails
Find the volume of the cylinder below (using 3.14 for p). - Include the equation you are using. - Show all work to get your answer. - Round your answer to th
in what year did china launch their first manned satellite
32° 15' 66" is the same as Round to the nearest hundredth of a degree.
Explain how opioid medications work in the brain, How are they different from na ural endorphins in the brain?
Can anyone plz answer the question?? It's in the photo. Thanks!
Please help me solve this. Also please provide working out.
What are some sensory words included in this paragraph that help you imagine the scene? Cinder cone volcanoes are relatively small with steep sides and a bowl-s
Which energy conversion correctly describes what happens when you are dancing