Alpha Company has assets of $638,000, liabilities of $269,000, and equity of $369,000. It buys office equipment on credit for $94,000. What would bethe effects of this transaction on the accounting equation?Multiple ChoiceAssets increase by $94,000 and expenses increase by $94,000.Assets increase by $94,000 and expenses decrease by $94,000.Liabilities increase by $94,000 and expenses decrease by $94,000.Assets decrease by $94,000 and expenses decrease by $94,000.Assets increase by $94,000 and liabilities increase by $94,000.< Prev5 of 30Next >MarRook Air

Every transaction contains a cause and effect relationship. A sale, for example, increases accounts…

Answered: of $638,000, liabilities of $269,000,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

please see attached file
am. 63.
Compute the Non current liabilities.
At the end of the year, total assets and total liabilities were P 40,000 and P 10,000, respectively. If during the year, total equity increased by 20%, how much was the beginning total liabilities if beginning total assets was P 52,000?
Pls answer all questions with solution.thank you
If current assets are $112,000 and current liabilities are $56,000, what is the current ratio? A. 200 percent B. 50 percent C. 2.0 D. $50,000
Q7. Calculate debt and equity ratios using the following information- Accounts payable- $10,000 Accounts Receivable- $15,000 Buildings- $42,000 Cash-$4,000 Current Notes payable- $7,000 Office supplies $3,000 Long term notes payable- $40,000 Prepaid insurance- $2,000 Unearned revenue liability- $1,000 Wages payable- $3,000 Retained earnings- $10,000 Company issued 500 common shares @ $2 and 400 Preference shares @$3 during the year.. B W
7. New World has total assets of $31,300, long-term debt of $8,600, net fixed assets of $20,300, and owners' equity of $21,100. What is the value of the net working capital?
2.The Moon Company had net income in 2022 of AED 40 million. Here are some of the financial ratios from the annual report. Return on Assets = 5% Debt Assets Ratio = 55% Profit Margin = 4.5% Inventory in days = 20 days Using these ratios, calculate the following for the Remal Company: a) Salesb) Total assetsc) Total asset turnover d) Total debte) Stockholders' equity f) Return on equityg) Inventory
The year-end financial statements of Greenway Company contained the following elements and corresponding amounts: Assets = $23,000; Liabilities = ?; Common Stock = $5,300; Revenue = $11,600; Dividends = $900; Beginning Retained Earnings = $3,900; Ending Retained Earnings = $7,300. The amount of liabilities reported on the end-of-period balance sheet was A. $11,200. B. $10,400. C. $13,800. D. $9,200.
Please answer numbers 2,3,4,5
Sectors, Inc., has an EBIT of $7,221,643 and interest expense of $611,800. Its depreciation for the year is $1,434,500. What is its cash coverage ratio?

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

of $638,000, liabilities of $269,000, and equity of $3 n on the accounting equation? se by $94,000 and expenses increase by $94,000.