financial account If a company purchases equipment costing $4,700 on credit, the effecton the accounting equation would be:a. Assets increase $4,700 and liabilities decrease $4,700.b. Equity decrease $4,700 and liabilities increase $4,700.c. One asset increase $4,700 and another asset decrease $4,700.d. Assets increase $4,700 and liabilities increase $4,700.e. Equity increase $4,700 and is liabilities decrease $4,700.

The correct answer is:d. Assets increase $4,700 and liabilities increase $4,700. Explanation:When a…

Answered: If a company purchases equipment…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.4.2MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...

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If a company purchases equipment costing $6,100 on credit, the effect on the accounting equation would be: Multiple Choice Assets increase $6,100 and liabilities increase $6,100. Equity decreases $6,100 and liabilities increase $6,100. One asset increases $6,100 and another asset decreases $6,100. Assets increase $6,100 and liabilities decrease $6,100. Equity increases $6,100 and liabilities decrease $6,100.
If a company purchases equipment costing $4,500 on credit, the effect on the accounting equation would be: Multiple Choice One asset increases $4,500 and another asset decreases $4,500. Assets increase $4,500 and liabilities increase $4,500. Equity increases $4,500 and liabilities decrease $4,500. Equity decreases $4,500 and liabilities increase $4,500. Assets increase $4,500 and liabilities decrease $4,500.
Please provide answer the following requirements on this accounting question
Answer the following requirements
Provide correct answer general Accounting question
Find the following using the data bellow a. Accounts receivable B. Current assets C. Total assets D. Return on assets E. Common equity F. Quick ratio
A return on assets of 5.15% means that a company is earning: O a. a $5.15 return on every $100 of assets minus liabilities. O b. a $5.15 return on every $100 of total assets. O c. a $5.15 return on every $100 of current assets. O d. a $5.15 return on every $100 invested in long-term assets.
A return on assets of 5.15% means that a company is earning: a.a $5.15 return on every $100 invested in long-term assets. b.a $5.15 return on every $100 of total assets. c.a $5.15 return on every $100 of assets minus liabilities. d.a $5.15 return on every $100 of current assets.
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Refer to the following selected financial information from Texas Electronics. Compute the company's working capital for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Multiple Choice O $160,400. O $124,900. O $152,900. O $248,900. O $236,200. Year 2 $ 38,100 96,000 88,500 124,000 12,700 391,000 110,400 714,000 393,000 Year 1 $ 32,850 63,000 82,500 128,000 10,300 341,000 110,800 679,000 378,000

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