What is the impact on veggie accounting equation

Assignment Help Accounting Basics
Reference no: EM132193203

Question - Veggie, Inc. sold $500 in pumpkins to a customer on account on January 1. On January 11 Veggie, Inc collected the cash from that customer. What is the impact on Veggie's accounting equation from the collection of cash?

1. No net effect to the accounting equation.

2. Decrease assets and increase liabilities.

3. Increase assets and increase liabilities.

4. Decrease assets and decrease liabilities.

Reference no: EM132193203

Questions Cloud

How biotech will align the human resources of the new asia : Which products (i.e. lipstick, foundation, eyeliner, etc.) would be best for the initial launch based on market analysis.
How should scott and peterson resolve ownership situation : In your opinion, how should Scott and Peterson resolve the ownership situation? How would you finance the purchase of the company?
What do you perceive are the most significant trends : What do you perceive are the most significant trends related to voluntary healthcare insurance plans? Please explain and discuss their significance.
Built-in refrigeration pouch and radio module : You are assuming role of project manager for company called SuperPacks to provide a new backpack product with a built-in refrigeration pouch and radio module.
What is the impact on veggie accounting equation : On January 11 Veggie, Inc collected the cash from that customer. What is the impact on Veggie's accounting equation from the collection of cash
What evidence from additional sources supports your opinion : What evidence from additional sources supports your opinion? What are the reasons employers use the employment interview to fill job openings?
Determine the total dividends paid to common stockholders : Jackie Company began operations on January 1, 2012. Determine the total dividends paid to common stockholders in 2014
Addressing the problems of the weekend charge nurse : How should Diane proceed in addressing the problems of the weekend charge nurse? Outline your steps or options, and supply a complete rationale or justification
Develop a process to resolve the conflict : After reading the article, analyze the scenarios provided below, and choose one to discuss in your case study paper. In your case study, be sure to address.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Preparing the statement of cash flows

Bean Town Food Equipment Company had the following transactions for the month ending February 29, 2016. Bean Town's cash balance on February 1, 2016.

  Compute the applied overhead for levitt for the year

Jay Levitt Company produces one product, a putter called GO-Putter. Compute the applied overhead for Levitt for the year

  Prepare aamodt entries to record estimated returns

Past experience indicates that the normal return rate is 15%. Prepare Aamodt's entries to record Estimated returns at December 31, 2010

  The following is a list of activities that occur for a

the following is a list of activities that occur for a company that sells many different types of products. please

  Pros and cons of using reversing entries

What are the pros and cons of using reversing entries? Why are reversing entries optional?

  What are the total amounts of direct manufacturing cost

If 11,000 units are produced, what are the total amounts of direct and indirect manufacturing cost incurred to support this level of production

  Rayya co purchases and installs a machine on january 1 2013

rayya co. purchases and installs a machine on january 1 2013 at a total cost of 105000. straight-line depreciation is

  Explain whether or not there is any basis to your client''s

Research relevant tax code and explain whether or not there is any basis to your client's statement. Please be sure to reference the relevant tax code(s) in your discussion and clearly state your position.

  How can sensitivity analysis be incorporated in DCF analysis

When making long-term decisions, we need to apply the concept of discounted cash flows. How can sensitivity analysis be incorporated in DCF analysis

  Monopoly versus perfectly competitive equilibrium

Big Apple Music, Inc., enjoys an exclusive copyright on music written and produced by the Fab Four, a legendary British rock group. Total and marginal revenues for the group's CDs are given by the following relations:

  Determine the equivalent units of production

Determine the equivalent units of production for the welding department for direct materials and conversion costs assuming the weighted average method.

  At the beginning of the current season on april 1 the

at the beginning of the current season on april 1 the ledger of flint hills pro shop showed cash 2660 inventory 3500

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd