What is the effect of this transaction on the accounting

Assignment Help Financial Accounting

Reference no: EM133378529

Question: urton Company purchased goods for resale. Burton Company paid some cash for the purchase and the remainder was put on the company's credit accounts with its suppliers.

What is the effect of this transaction on the accounting equation?

Inventory UP, Cash DOWN, Accounts Payable UP
Inventory DOWN, Cash DOWN, Accounts Payable DOWN
Inventory DOWN, Cash UP, Accounts Payable UP
Inventory UP, Cash UP, Accounts Payable DOWN

Reference no: EM133378529

Questions Cloud

Determine how much interest was earned in the fifth year : You invested $2,000 at 5% compounded annually. Determine how much interest was earned in the fifth year. (Round your answer to two decimals.

What is bill davis taxable income : Bill received $45,500 in wages and $567 in interest income. He has no itemized deductions. What is Bill Davis' taxable income

Discuss globalization is reversing itself in the light : "Globalization is reversing itself in the light of recent global events (e.g. Global " Pandemic, Trump, Brexit, Russia/ Ukraine, China, the rise of nationalism

Performance of digital marketing communication : Evaluate How will you measure the performance of digital marketing communication(DMC) strategies of the H&M clothing brand?

What is the effect of this transaction on the accounting : What is the effect of this transaction on the accounting equation - Burton Company paid some cash for the purchase and the remainder was put on the company's

Examine in apple overall international marketing platform : Examine in detail Apple overall international marketing platform to access a country's attractiveness, membership of trading blocs, competitive intensity

Create an amortization schedule-see amortization video : Create an Amortization schedule-see amortization video. How much student debt will I bear by the time I graduate? What will my student loan payments be

Describes situational case based on advertisements : A New York Times article from Feb 16, 2022, describes a situational case based on advertisements in Target from 2022.

Find out the debt equity ratio of amazon : Find out the debt equity ratio of Amazon.Com Inc. by investigating their consolidated financial statements for the year ending September 30, 2022

User Account

All Pages